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00:02Open Door reported first quarter losses of 5 cents per share on $720 million in revenue,
00:09beating analyst estimates for losses of 7 cents per share and revenue of $666.54 million,
00:17according to Benzinga Pro. Homes purchased increased 45% from the prior quarter.
00:22The company reported more than 5,000 acquisition contracts in the first quarter of 2026,
00:28doubled the fourth quarter of 2025, and the highest level since 2022.
00:33The percentage of homes on the market for more than 120 days declined from 33% to 10% quarter
00:39-over-quarter,
00:40compared to 33% for the overall market.
00:43CEO Kaz Nejadayan said,
00:45Open Door became adjusted EBITDA profitable on a 12-month go-forward basis as of April 1st.
00:52Shares were down by 0.73% at $5.42 in Friday's pre-market trading, according to data from Benzinga
01:00Pro.
01:00For all things money, visit Benzinga.com.
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