Opendoor Technologies Inc. (NASDAQ:OPEN) saw a 7.53% increase in its stock price on Friday, closing at $5 per share. The company announced plans to return to profitability by the end of the year and narrowed its adjusted net loss by 24% last year.

In the fourth quarter, Opendoor Technologies reported a net loss increase of 870% to $1.096 billion and a revenue decline of 32% to $736 million. The company highlighted structural improvements in its operations, aiming to reach breakeven Adjusted Net Income by the end of 2026.

Opendoor Technologies Inc. (NASDAQ:OPEN) CEO Kaz Nejatian outlined a plan to transform the company, focusing on achieving breakeven Adjusted Net Income, positive unit economics, direct-to-consumer relationships, and product suite expansion. The company aims for more accurate pricing, faster inventory turns, and disciplined selection in its operations.

Read more at Yahoo Finance: Opendoor Technologies (OPEN) Climbs 7.5% on Upbeat Outlook