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Opendoor's Comeback: Fixed Costs Drop, Profitability in Sight
Description
Opendoor Technologies, the NASDAQ-listed real estate disruptor, is making strides in its comeback. The company is buying more homes and selling them faster, with fixed operating costs dropping to $33 million in Q1, down from last quarter and last year. CEO Kaz Nejatian is revamping the business model, focusing on higher-volume deals on better homes using AI to cut costs and improve decision-making. Net losses have shrunk, and Opendoor aims for adjusted net income breakeven by year-end. However, profitability projections remain uncertain in the volatile housing market.
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