Earnings summaries and quarterly performance for Opendoor Technologies.
Executive leadership at Opendoor Technologies.
Board of directors at Opendoor Technologies.
Research analysts who have asked questions during Opendoor Technologies earnings calls.
RT
Ryan Tomasello
Keefe, Bruyette & Woods
6 questions for OPEN
Also covers: BLND, CSGP, FIGR +6 more
DL
Dae Lee
JPMorgan Chase & Co.
5 questions for OPEN
Also covers: BKNG, COMP, EB +7 more
Ygal Arounian
Citigroup
4 questions for OPEN
Also covers: ANGI, BARK, BMBL +13 more
Andrew Boone
JMP Securities
3 questions for OPEN
Also covers: ACVA, CARG, CART +26 more
Nick McAndrew
Zelman & Associates
3 questions for OPEN
Also covers: COMP, HOUS, REAX +1 more
NJ
Nicholas Jones
Citizens JMP
2 questions for OPEN
Also covers: ACVA, ANGI, CARG +15 more
AP
Anthony Pompliano
Professional Capital Management
1 question for OPEN
Ben Black
Deutsche Bank
1 question for OPEN
Also covers: LYFT, SPOT
BB
Benjamin Black
Deutsche Bank AG
1 question for OPEN
Also covers: APP, BMBL, COMP +10 more
BJ
Bret Jordan
Jefferies
1 question for OPEN
Also covers: AAP, ABG, AN +19 more
CK
Craig Kennison
Robert W. Baird & Co. Incorporated
1 question for OPEN
Also covers: BC, CPRT, CWH +16 more
Rajat Gupta
JPMorgan Chase & Co.
1 question for OPEN
Also covers: ABG, ACVA, AN +11 more
Recent press releases and 8-K filings for OPEN.
SRx Health Solutions Announces Increased Ownership in Opendoor Technologies and Cryptocurrency Position Change
OPEN
New Projects/Investments
- SRx Health Solutions, Inc. announced on February 20, 2026, that it is increasing its ownership in the common stock of Opendoor Technologies Inc..
- The company also further reduced its short position across its cryptocurrency portfolio of Bitcoin and Ethereum and is now net long its holdings.
Feb 20, 2026, 2:00 PM
Opendoor Technologies Reports Q4 2025 Results and Provides Q1 2026 Guidance
OPEN
Earnings
Guidance Update
New Projects/Investments
- Opendoor reported Q4 2025 revenue of $736 million, representing a 20% quarter-over-quarter decline, and an Adjusted EBITDA loss of $43 million.
- The company increased homes purchased by 46% quarter-over-quarter to 1,706 homes in Q4 2025 and significantly improved resale velocity, with the October 2025 acquisition cohort yielding the highest contribution margins for an October acquisition cohort in company history.
- For Q1 2026, Opendoor expects revenue to decrease by approximately 10% quarter-over-quarter and projects an Adjusted EBITDA loss in the low-to-mid $30 million-$35 million range, with contribution margin expected to be the highest since Q2 2024.
- Opendoor is on track for adjusted net income profitability by the end of 2026 on a 12-month go-forward basis and anticipates being Adjusted EBITDA profitable on an annual basis starting in Q2 2026.
Feb 19, 2026, 10:00 PM
Opendoor Technologies Reports Q4 2025 Results and Provides 2026 Profitability Outlook
OPEN
Earnings
Guidance Update
New Projects/Investments
- Opendoor reported Q4 2025 revenue of $736 million, a 20% quarter-over-quarter decline, which was better than its guidepost. The company's Adjusted EBITDA loss was $43 million, exceeding the favorable end of its guidance range.
- The company is on track for adjusted net income positive by the end of 2026 on a 12-month go-forward basis, and expects to be adjusted EBITDA profitable on an annual basis starting in Q2 2026.
- Opendoor increased home acquisitions by 46% quarter-over-quarter to 1,706 homes in Q4 2025. The October 2025 acquisition cohort is yielding the highest contribution margins for an October cohort in company history and shows a 2x improvement in resale velocity compared to October 2024.
- For Q1 2026, Opendoor anticipates revenue to decrease approximately 10% quarter-over-quarter and projects an Adjusted EBITDA loss in the low-to-mid $30 million-$35 million range. It expects to exit Q1 with the highest contribution margin since Q2 2024.
- Operational improvements under Opendoor 2.0 include a 300% increase in acquisition velocity since September and a reduction in annual hosting costs from $12 million to less than $5 million.
Feb 19, 2026, 10:00 PM
Opendoor Technologies Reports Q4 2025 Results and Progress on Turnaround Plan
OPEN
Earnings
Guidance Update
Product Launch
- Opendoor Technologies reported Q4 2025 revenue of $736 million, a 20% quarter-over-quarter decline, which was better than its guidepost of a 35% decline. The company posted an Adjusted EBITDA loss of $43 million and a net loss of $1.1 billion, which included a $933 million non-cash loss from convertible note refinancing.
- The company made significant progress on its four-step turnaround plan, increasing acquisition velocity by 300% since September and growing D2C acquisition contracts by almost 700% compared to the last week of Q3. Cash Plus represented 35% of total contracts last week, up from 19% in the last week of Q3.
- Operational efficiencies led to substantial cost reductions, including annual hosting costs decreasing from $12 million to less than $5 million and a 50% reduction in valuation model runtime. The company also expanded its geo coverage to nearly every homeowner in the lower 48 states and launched new products like Opendoor Checkout and a mortgage product in beta.
- For Q1 2026, Opendoor expects revenue to decrease approximately 10% quarter-over-quarter and an Adjusted EBITDA loss in the low-to-mid $30 million-$35 million range. The company aims for adjusted net income profitability by the end of 2026 on a 12-month go-forward basis.
Feb 19, 2026, 10:00 PM
Opendoor Technologies Inc. Reports Q4 and Full Year 2025 Financial Results
OPEN
Earnings
Guidance Update
New Projects/Investments
- Opendoor Technologies Inc. reported Q4 2025 revenue of $736 million and a net loss of $(1,096) million, with full-year 2025 revenue of $4,371 million and a net loss of $(1,300) million.
- The company's Adjusted EBITDA for Q4 2025 was $(43) million and $(83) million for the full year 2025.
- Opendoor increased homes purchased by 46% quarter-over-quarter to 1,706 in Q4 2025 and reduced average days in possession of inventory by 23%. The October 2025 acquisition cohort is tracking to deliver the strongest contribution margins of any October cohort in Company history.
- For Q1 2026, Opendoor expects revenue to decrease approximately 10% quarter-over-quarter, an Adjusted EBITDA loss in the low to mid $30 millions, and anticipates exiting the quarter with the highest contribution margin since Q2 2024. The company aims to reach breakeven Adjusted Net Income by the end of 2026.
Feb 19, 2026, 9:22 PM
Opendoor Technologies Reports Q4 2025 Financial Results and Strategic Progress
OPEN
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Opendoor Technologies reported a net loss of $(1,096) million on revenue of $736 million for the fourth quarter ended December 31, 2025, compared to a net loss of $(113) million on revenue of $1,084 million in the prior year's fourth quarter.
- The company is executing a four-step plan to transform Opendoor, with a goal to reach breakeven Adjusted Net Income by the end of 2026 on a 12-month go-forward basis.
- Operational highlights for Q4 2025 include a 46% increase in homes purchased quarter-over-quarter and a 23% reduction in average days in possession of inventory.
- The October 2025 acquisition cohort is tracking to deliver the strongest contribution margins of any October cohort in Company history and is selling at more than twice the velocity of the October 2024 cohort.
- For Q1 2026, Opendoor expects revenue to decrease approximately 10% quarter-over-quarter and anticipates an Adjusted EBITDA loss in the low to mid $30 millions, while projecting to exit the quarter with the highest contribution margin since Q2 2024.
Feb 19, 2026, 9:05 PM
Opendoor Technologies Inc. Distributes Special Dividend of Tradable Warrants
OPEN
Dividends
Delisting/Listing Issues
- Opendoor Technologies Inc. distributed a special dividend of tradable warrants (Series K, A, and Z) to its registered stockholders and certain convertible noteholders on November 21, 2025.
- Shareholders of record as of November 18, 2025, received one warrant of each series for every thirty shares of the Company’s common stock held.
- The warrants have exercise prices of $9.00 for Series K, $13.00 for Series A, and $17.00 for Series Z.
- Each series will expire on November 20, 2026, unless an Early Expiration Price Condition is met, with trigger prices of $10.80 (Series K), $15.60 (Series A), and $20.40 (Series Z).
- The Series K, Series A, and Series Z warrants are expected to commence trading on The Nasdaq Stock Market under the tickers OPENW, OPENL, and OPENZ, respectively.
Nov 21, 2025, 9:41 PM
Opendoor Technologies Inc. announces common stock issuance
OPEN
- Opendoor Technologies Inc. filed a prospectus supplement on November 7, 2025, to register the issuance and sale of 180,580,200 shares of common stock.
- These shares are being sold at a price of $6.56 per share pursuant to share purchase agreements dated November 6, 2025, and the company's effective shelf registration statement on Form S-3.
- Latham & Watkins LLP provided a legal opinion confirming the validity of the issuance and sale of these shares.
Nov 7, 2025, 2:08 PM
Opendoor Technologies Announces AI-Driven Transformation and 2026 Profitability Target
OPEN
CEO Change
Guidance Update
Demand Weakening
- Opendoor Technologies is undergoing a strategic transformation under new CEO Kaz Nejatian, focusing on becoming a software and AI-driven company to enhance profitability and operational efficiency.
- For the third quarter, the company reported $915 million in revenue, a 33.7% year-over-year decrease, and a net loss of $90 million, with GAAP EPS at -$0.12.
- The company has set a target to achieve breakeven adjusted net income by the end of 2026.
- Transaction volumes saw a significant decline year-over-year, with homes sold decreasing from 3,615 to 2,568 and homes purchased falling from 3,504 to 1,169.
Nov 7, 2025, 12:59 PM
Opendoor Outlines "Opendoor 2.0" Strategy, Targets 2026 Profitability, and Addresses Capital Structure
OPEN
Guidance Update
Management Change
New Projects/Investments
- Opendoor is undergoing a significant strategic shift, dubbed "Opendoor 2.0," under new leadership, moving from an asset manager to a software company focused on AI, operational excellence, and a direct-to-consumer model.
- The company aims to achieve adjusted net income profitability by the end of 2026 on a forward 12-month basis, supported by planned cost reductions, including an expected 20% decrease in adjusted operating expenses for the 12 months ending June 30, 2026, compared to the prior year.
- Opendoor has addressed its capital structure by reaching an agreement to retire the majority of convertible notes and raised nearly $200 million via an ATM program. Additionally, the company is issuing a dividend warrant to shareholders with exercise prices at $9, $13, and $17.
- For Q4 2025, Opendoor expects acquisitions to increase by at least 35% from Q3, but revenue is projected to decrease approximately 35% quarter over quarter, with an anticipated adjusted EBITDA loss in the high $40 million-$50 million range.
Nov 6, 2025, 10:00 PM
Quarterly earnings call transcripts for Opendoor Technologies.
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