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  "docSlug": "jarvis-opendoor-pitch-deck-for-ipo",
  "documentTitle": "Opendoor Pitch Deck for IPO",
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  "notes": "The slide uses a table format to bridge historical financial performance with future margin expectations.",
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      "kind": "disclaimer",
      "text": "(1) Assumes home sale price of $250K. All metrics presented are non-GAAP, see reconciliation in Appendix",
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      "text": "Metric, 2018, 2019, 1Q20, Long-Term Target, Key Drivers. Total Contribution Margin, 3.5%, 1.9%, 3.1%, 7-9% ($20K/home), Maturation of markets, cost optimization, high margin services. Contribution Margin After Interest, 2.4%, 0.6%, 1.9%, 6-8% ($17.5K/home), 100bps interest expense. Adjusted EBITDA Margin, (7.1%), (4.6%), (2.3%), 4-6%, Flow-through, operating leverage.",
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      "text": "Long-term margin targets",
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