Opendoor reported fourth-quarter revenue of $736 million, beating analyst estimates of $594.02 million, according to Benzinga Pro. The company reported a fourth-quarter loss of seven cents per share, beating estimates for a loss of 10 cents per share.

Opendoor shares were up 14% in after-hours Thursday.

Opendoor said it purchased 1,706 homes in the quarter, up 46% quarter-over-quarter. The company also sold 1,978 homes as the percentage of homes on the market over 120 days declined from 51% to 33% sequentially.

“These results reflect structural improvements in how we operate with more accurate pricing, faster inventory turns, and disciplined selection,” said Kaz Nejatian, CEO of Opendoor.

Opendoor said it expects revenue in the first quarter to decrease approximately 10% year-over-year. The company anticipates a first-quarter adjusted EBITDA loss in the low to mid $30 millions.

“Our contribution margin bottomed out in September and has been improving every month since. We expect to exit Q1 2026 with the highest contribution margin we’ve posted since Q2 2024,” the company said.