Opendoor Technologies Inc. (OPEN) is a technology-driven platform that simplifies the process of buying and selling residential real estate. The company primarily generates revenue by acquiring homes from homeowners and reselling them, leveraging proprietary technology for pricing and valuation. Additionally, it offers a range of ancillary services to enhance the real estate transaction experience for both buyers and sellers.
- Home Sales - Acquires homes from homeowners and resells them, with revenue recognized upon the transfer of title and possession to the buyer.
- Title Insurance and Escrow Services - Provides integrated services to facilitate the closing process for home transactions.
- Brokerage Services - Assists buyers and sellers in real estate transactions, offering professional support throughout the process.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Selim Freiha Executive | Chief Financial Officer (CFO) | Selim Freiha is the Chief Financial Officer (CFO) of Opendoor Technologies Inc. since November 2024, previously serving in significant financial leadership roles at Alphabet Inc. and eBay Inc. | ||
Shrisha Radhakrishna Executive | President and interim principal executive officer | Shrisha Radhakrishna is the President and interim principal executive officer of OPEN since August 15, 2025. He previously served as the Chief Technology & Product Officer starting November 2024. | ||
Sydney Schaub Executive | Chief Legal Officer | Sydney Schaub serves as the Chief Legal Officer at Opendoor Technologies Inc. since September 2022 and also acts as Corporate Secretary, bringing extensive legal leadership experience from previous roles at Gemini Trust Company, Rent the Runway, and Square. | ||
Adam Bain Board | Director | Co-founder and Co-Managing Partner at 01 Advisors; Independent Advisor and Investor in Select Privately Held Growth-Stage Companies | Adam Bain has been serving as the Director of Opendoor Technologies Inc. since December 2020. He brings extensive experience in technology and corporate governance, having held roles such as Co-founder and Co-Managing Partner at 01 Advisors and serving as COO at Twitter. | |
Dana Hamilton Board | Member of the Board of Directors | Co-founder and President of Ameriton LLC; Board member at Howard Hughes Holdings Inc. | Dana Hamilton has been serving as a board member at Opendoor Technologies Inc. since November 2023. She chairs the Nominating Committee and is a member of the Audit and Risk Committee, and she brings extensive real estate investment and operations expertise from previous leadership roles at Pretium Partners LLC, Ameriton LLC, and Archstone. | |
David Benson Board | Director | David Benson has served as Director at Opendoor Technologies Inc. since September 2024 and is a member of the Audit and Risk Committee. He brings extensive leadership experience from roles at Fannie Mae and Merrill Lynch. | ||
Eric Feder Board | Lead Independent Director | President of LEN X, LLC; Senior Operating Executive at Lennar Corporation; Board of Directors at Hippo Holdings Inc. | Eric Feder has been on Opendoor’s board since May 2024 and was appointed as Lead Independent Director on August 15, 2025 to assist the board during a leadership transition. Previously, he has held key roles such as President of LEN X, LLC since 2019 and Senior Operating Executive at Lennar Corporation. | |
Glenn Solomon Board | Director | Managing Partner at Notable Capital; Director at Hashicorp, Inc. | Glenn Solomon has been serving as a Director and Chair of the Compensation Committee at Opendoor Technologies Inc. since December 2020, following his tenure on the board of Opendoor Labs Inc. from February 2015 to December 2020. | |
Pueo Keffer Board | Board Member | Managing Director of Access Technology Ventures; Director at DigitalOcean Holdings, Inc.; Board Member of Privately Held Companies | Pueo Keffer has served as a board member at Opendoor Technologies Inc. since December 2020, previously serving as a board member of Opendoor Labs Inc. from October 2015 to December 2020 and currently chairs the Audit and Risk Committee as of 2025. | |
Cipora Herman | Lead Independent Director at ZipRecruiter, Inc. | Cipora Herman served as a member of the Board of Directors and Chair of the Audit Committee at Opendoor Technologies Inc. since December 2020, resigning effective February 28, 2025. |
- Given the challenging macro environment and wider offer spreads, how does management plan to adjust pricing and spreads to maintain the target contribution margin when macro conditions further deteriorate?
- With the rollout of the new agent platform and the Cash Plus initiative, can you provide more detailed timelines for when these initiatives will show a material impact on the P&L, and what measures are in place to address the early degradation in cash conversion?
- The guidance indicates sequential revenue declines on a percentage basis and varying OpEx run rates; can you elaborate on the specific factors that might drive these sequential changes and how the team plans to mitigate seasonal and macro-related headwinds?
- In light of expectations for a sequential increase in home acquisitions from Q3 to Q4, what specific macro metrics or operational indicators will trigger this increase, and how will the quality of acquired inventory be maintained?
- Although the ATM equity offering remains unused despite improved stock performance, under what exact market or internal conditions would management consider activating it, and how would that align with the company’s overall capital and margin management strategy?
Research analysts who have asked questions during Opendoor Technologies earnings calls.
Ryan Tomasello
Keefe, Bruyette & Woods
4 questions for OPEN
Ygal Arounian
Citigroup
4 questions for OPEN
Dae Lee
JPMorgan Chase & Co.
3 questions for OPEN
Nick McAndrew
Zelman & Associates
3 questions for OPEN
Nicholas Jones
Citizens JMP
2 questions for OPEN
Andrew Boone
JMP Securities
1 question for OPEN
Ben Black
Deutsche Bank
1 question for OPEN
Benjamin Black
Deutsche Bank AG
1 question for OPEN
Bret Jordan
Jefferies
1 question for OPEN
Craig Kennison
Robert W. Baird & Co. Incorporated
1 question for OPEN
Rajat Gupta
JPMorgan Chase & Co.
1 question for OPEN
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
RedDoor HQ Inc. | 2021 | RedDoor HQ Inc. was acquired on November 3, 2021 for $12.5 million in cash, with the strategic aim of enhancing Opendoor's end-to-end digital real estate experience by integrating its digital-first mortgage brokerage services into the customer journey, including plans for integration in early 2022. |
Services Labs, Inc. (Pro.com) | 2021 | Pro.com was acquired on September 3, 2021 for $21.8 million in cash, securing 100% of its equity; the deal included developed technology valued at $4.2 million which supports Opendoor’s expansion into home operations and digital consumer experiences. |
Recent press releases and 8-K filings for OPEN.
- Carrie Wheeler has stepped down as Opendoor’s Chief Executive Officer and Chair of the Board, effective immediately.
- Shrisha Radhakrishna, currently Chief Technology & Product Officer, has been appointed President and interim leader of Opendoor.
- The Board has elected Eric Feder as Lead Independent Director, and a CEO search is currently underway.
- Opendoor Technologies Inc. reported $1.6 billion in revenue for the second quarter ended June 30, 2025, an increase of 4% versus Q2 2024 and 36% versus Q1 2025.
- The company achieved Adjusted EBITDA profitability for the first time since 2022, reaching $23 million in Q2 2025, compared to $(5) million in Q2 2024 and $(30) million in Q1 2025.
- Net loss for Q2 2025 was $(29) million, an improvement from $(92) million in Q2 2024 and $(85) million in Q1 2025.
- Opendoor sold 4,299 homes in Q2 2025 and ended the quarter with an inventory balance of $1.5 billion, representing 4,538 homes, which is down 32% versus Q2 2024.
- For the third quarter of 2025, Opendoor provided revenue guidance of $800 million to $875 million and Adjusted EBITDA guidance of $(28) million to $(21) million.
- Opendoor Technologies Inc. (OPEN) intends to adjourn its Special Meeting of Stockholders from July 28, 2025, to August 27, 2025.
- The Special Meeting was called to consider proposals related to a discretionary reverse stock split of the Company's common stock.
- This consideration stems from Opendoor's non-compliance with Nasdaq listing rules, as its closing stock price was below $1.00 per share for 30 consecutive business days.
- To regain compliance, Opendoor's common stock must trade at or above $1.00 per share for a minimum of 10 consecutive business days by November 24, 2025.
- The adjournment provides the Board additional time to assess market conditions and the Company's stock price due to recent volatility.
- Opendoor Technologies Inc. (OPEN) filed a preliminary proxy statement on June 6, 2025, seeking stockholder approval for amendments to its Certificate of Incorporation to effect a reverse stock split.
- The proposed reverse stock split ratio will range from 1-for-10 to 1-for-50, with the exact ratio to be determined by the Board.
- The primary reasons for the reverse stock split are to support long-term shareholder value and to help preserve the company's listing on Nasdaq.
- A Special Meeting of Stockholders is scheduled for July 28, 2025, at 9:30 a.m. Pacific Time, to vote on the proposal.
- Opendoor Technologies Inc. received a notice from Nasdaq on May 28, 2025, indicating that its common stock no longer meets the minimum bid price requirement for continued listing, having traded below $1.00 per share for 30 consecutive business days.
- The company has an initial period of 180 calendar days, until November 24, 2025, to regain compliance by achieving a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days.
- This notice has no immediate effect on the listing or trading of Opendoor's common stock on the Nasdaq Global Select Market.
- Opendoor intends to monitor its stock price and will consider all available options, including potentially seeking to effect a reverse stock split, to regain compliance.