Opendoor Technologies Inc (NASDAQ:OPEN) shares jumped 13.1% in after-hours trading Thursday as investors focused on accelerating acquisition volumes despite a significant bottom-line miss. The San Francisco-based iBuyer reported a fourth-quarter loss of $1.26 per share, far exceeding analyst expectations of a $0.12 loss, while revenue reached $736 million, comfortably beating Wall Street's $576.94 million forecast.

Internal metrics show the company is clearing older inventory and advancing its "Opendoor 2.0" operational framework. The percentage of homes on the market for more than 120 days fell to 33%, down from 51% in the third quarter of 2025. Total homes purchased rose 46% quarter-over-quarter, reflecting renewed scaling efforts after a period of retrenchment, while fixed operating expenses declined to $35 million, indicating progress in streamlining costs.

CEO Kaz Nejatian emphasized that structural improvements in pricing and inventory turns are materializing in financial data. The company anticipates an adjusted EBITDA loss between $30 million and $35 million for the first quarter of 2026, with revenue expected to decline approximately 10%. The rally suggests shareholders are encouraged by a 23% reduction in inventory days in possession during the fourth quarter, potentially decoupling Opendoor's performance from broader interest rate fluctuations.