Opendoor Technologies Inc.

Listed Company

OPENCIK 0001801169NasdaqAcceleratedReal Estate Agents & Managers (For Others)FY ends Dec 31

Period

FY 2025

Revenue

$4.37B

Net Income

$-1.30B

Total Assets

$2.41B

Equity

$1.00B

Shares Out

964.74M

Op. Cash Flow

$1.05B

OPEN$4.49+170.48% · past yearDBEQ Basic

Daily closing prices

Business

Opendoor Technologies Inc. is a leading e-commerce platform and the largest U.S. iBuyer, enabling homeowners to buy and sell residential properties through a digital, direct-to-platform model. The company acquires homes directly from sellers for cash, renovates them, and resells them to buyers, eliminating traditional intermediaries and reducing transaction friction. Opendoor also provides integrated title, escrow, and mortgage services, with operations spanning 50+ markets and substantially nationwide coverage as of late 2025. The platform leverages proprietary AI pricing models, data science, and centralized operations to deliver faster, more certain transactions than traditional agent-mediated sales.

Summary from 10-K filed 2026-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
REVENUE	4,371	5,153	6,946	15,567	8,021
COST OF REVENUE	4,021	4,720	6,459	14,900	7,291
GROSS PROFIT	350	433	487	667	730
Sales, marketing and operations	310	413	486	1,006	544
General and administrative	238	182	206	346	620
Technology and development	79	141	167	169	134
Restructuring	10	17	14	17	0
Total operating expenses	637	753	873	1,598	1,298
LOSS FROM OPERATIONS	−287	−320	−386	−931	−568
(LOSS) GAIN ON EXTINGUISHMENT OF DEBT	−924	−2	216	−25	0
INTEREST EXPENSE	−131	−133	−211	−385	—
OTHER INCOMENet	42	64	107	−10	38
LOSS BEFORE INCOME TAXES	−1,300	−391	−274	−1,351	−661
INCOME TAX EXPENSE	0	−1	−1	−2	−1
Net loss	−1,300	−392	−275	−1,353	−662
Basic (in dollars per share)	−1.7	−0.56	−0.42	−2.16	−1.12
Diluted (in dollars per share)	−1.7	−0.56	−0.42	−2.16	−1.12
Basic (in shares)	767	699	657	627	593
Diluted (in shares)	767	699	657	627	593

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	962	671	999	1,137	1,731
Restricted cash	339	92	541	654	847
Marketable securities	0	8	69	144	484
Escrow receivable	4	6	9	30	84
Real estate inventory, net	925	2,159	1,775	4,460	6,096
Other current assets	69	61	52	41	91
Total current assets	2,299	2,997	3,445	6,466	9,340
PROPERTY AND EQUIPMENTNet	27	48	66	58	45
RIGHT OF USE ASSETS	8	18	25	41	42
GOODWILL	3	3	4	4	60
OTHER ASSETS	70	60	22	27	7
TOTAL ASSETS	2,407	3,126	3,567	6,608	9,506
Accounts payable and other accrued liabilities	80	92	64	110	137
Non-recourse asset-backed debt - current portion	52	432	0	1,376	4,240
Convertible senior notes - current portion	193	0	—	—	—
Interest payable	1	3	1	12	12
Lease liabilities current portion	1	2	5	7	4
Total current liabilities	327	529	70	1,505	4,400
NON-RECOURSE ASSET-BACKED DEBTNet of current portion	1,068	1,492	2,134	3,020	1,862
CONVERTIBLE SENIOR NOTES - Net of current portion	0	378	376	959	954
LEASE LIABILITIESNet of current portion	6	13	19	38	42
OTHER LIABILITIES	1	1	1	0	—
Total liabilities	1,402	2,413	2,600	5,522	7,258
COMMITMENTS AND CONTINGENCIES (See Note 19)	—	—	—	—	—
Common stock, $0.0001 par value; 3,000,000,000 shares authorized; 957,245,487 and 719,990,121 shares issued, respectively; 957,245,487 and 719,990,121 shares outstanding, respectively	0	0	0	0	0
Additional paid-in capital	6,038	4,438	4,301	4,148	3,955
Accumulated deficit	−5,033	−3,725	−3,333	−3,058	−1,705
Accumulated other comprehensive loss	0	0	−1	−4	−2
Total shareholders equity	1,005	713	967	1,086	2,248
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	2,407	3,126	3,567	6,608	9,506

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	44	48	65	83	47
Amortization of right of use asset	2	5	7	7	8
Stock-based compensation	159	114	126	171	536
Inventory valuation adjustment	57	57	65	737	56
Changes in fair value of equity securities	3	7	1	35	−35
Other	5	7	13	−1	−9
Proceeds from sale and principal collections of mortgage loans held for sale	0	0	1	128	197
Gain on deconsolidation, net	0	−14	0	0	—
Escrow receivable	2	3	21	54	−83
Real estate inventory	1,172	−449	2,613	896	−5,656
Other assets	−9	−10	−19	37	−52
Accounts payable and other accrued liabilities	−7	31	−38	−25	76
Interest payable	−2	2	−10	2	4
Lease liabilities	−1	−6	−10	−8	−13
Net cash provided by (used in) operating activities	1,049	−595	2,344	730	−5,794
Purchase of property and equipment	−12	−25	−37	−37	−33
Proceeds from sales, maturities, redemptions and paydowns of marketable securities	6	55	80	328	92
Purchase of non-marketable equity securities	−6	0	0	−25	−15
Proceeds from sale of non-marketable equity securities	0	0	1	3	0
Cash impact of deconsolidation of subsidiaries	0	−2	0	0	—
Net cash (used in) provided by investing activities	−12	28	44	234	−476
Proceeds from issuance of convertible senior notes, net of discount	75	0	0	0	953
Repurchase of convertible senior notes	−1,176	0	−362	0	0
Settlement of Capped Calls related to convertible senior notes	1	2	0	0	—
Proceeds from exercise of stock options	4	0	3	4	15
Proceeds from issuance of common stock for ESPP	2	5	2	2	0
Proceeds from PIPE offering	41	0	0	—	—
Proceeds from the issuance of common stock under at-the-market offering, net	198	0	0	0	886
Issuance of common stock in connection with the repurchase of convertible notes	1,184	0	0	—	—
Proceeds from non-recourse asset-backed debt	684	498	238	10,108	11,499
Principal payments on non-recourse asset-backed debt	−1,489	−715	−2,515	−11,822	−5,838
Payment of loan origination fees and debt issuance costs	−17	0	−1	−26	−47
Payment for early extinguishment of debt	−4	0	−4	−10	0
Other financing activities	−2	0	0	—	—
Net cash used in financing activities	−499	−210	−2,639	−1,751	7,342
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	538	−777	−251	−787	1,072
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATIONCash paid during the period for interest	120	121	203	355	122
Stock-based compensation expense capitalized for internally developed software	4	15	23	16	12
Principal value of 2026 Notes extinguished in Debt Exchange	−246	0	0	—	—
Principal value of 2030 Notes issued in Debt Exchange	246	0	0	—	—
Investment in non-marketable equity securities due to deconsolidation	3	39	0	0	—

Filings

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Frequently asked questions

What is Opendoor Technologies Inc.'s CIK number?

Opendoor Technologies Inc.'s SEC CIK number is 0001801169 (1801169). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Opendoor Technologies Inc.'s SEC filings?

All of Opendoor Technologies Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Opendoor Technologies Inc. last report earnings?

Opendoor Technologies Inc. (OPEN) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001801169-26-000013). This is Opendoor Technologies Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Opendoor Technologies Inc.'s most recent earnings 8-K?

Opendoor Technologies Inc.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001801169-26-000013. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Opendoor Technologies Inc.'s latest earnings 8-K →
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