Opendoor Q4 Estimate: 2023 Was a Training Montage With No Music or Editing

Written by Tyler Okland

In one week we close Chapter 2023 for Opendoor. 

It wasn't the most imaginitive narrative. Frankly, it was dense with character development and grinding towards the central obstacle. Were this a movie the director would throw a soundtrack over the entire year and make it a training montage. 

And just like Rocky running in Russian snowdrifts, or Batman doing pushups in the Pit after Bane broke his back, or (even better) Kevin McCallister getting his house in order to protect against burglars, Opendoor will leave this chapter leaner and more prepared for the trials ahead. Just...way less cinematic.

Opendoor spent this past year gearing up to make the all-important second ascent, which makes paying attention to this next chapter so important. The cost structure was savaged. Anything peripheral to 1P was scrapped. Inventory mix going into 2024 will be as good as its ever been. 

The company has line-of-sight to $10 B run-rate revenue and adjusted net income neutral by the end of this coming year. If you are tuning in to one scene in this story, it's on deck. We expect quite a bit more cinema.

Below we estimate how Chapter 2023 will end.

Stay tuned for what's on next. And Happy Holidays from the Datadoor Team :)

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