Opendoor Technologies Inc (OPEN)
NASDAQ:OPEN
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Earnings Data
Report Date
Jul 30, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.08Last Year’s EPS
-0.04Same Quarter Last Year
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasizes meaningful operational and product progress: cohort margin stability, faster resale velocity, sharp reductions in aged inventory, accelerating contract and acquisition volumes, clear AI-driven efficiency gains, strong liquidity and a path to adjusted EBITDA/ANI profitability. Management acknowledges macro headwinds, early-stage products that require further validation, and execution risks that must be monitored. On balance the update contains substantially more concrete positive developments and measurable improvements than negatives, while also transparently calling out what remains unproven.Company Guidance
Cohort Performance and Margin Stability
October–January cohorts show materially improved margin stability: margins for core cash products fell only ~90 basis points from 10% sold to >80% sold vs ~260 bps last year (≈3x improvement). Q4'25 and Jan'26 cohorts have best combination of margin, margin stability and resale velocity in company history (ex-COVID).
Acquisition Momentum and Contract Volume
Q1 entered into contract on over 5,000 homes (2x Q4, 3x Q3). Q1 DTC acquisition contracts are >4x vs Q3'25. Q1 purchases were 2,474 homes, up 45% from Q4; Q1 was the strongest signed-contract quarter since Q2 2022.
Contribution Margin Improvement
Resale contribution margin improved every month since September 2025 and closed Q1 at 4.4%, up 3.4 percentage points quarter-over-quarter. Management expects Q2 contribution margin in the middle of the 5%–7% target range.
Inventory Health Recovery
Aged inventory (>120 days) fell from 51% to 10% in two quarters (a 41 percentage-point improvement). Company held 3,420 homes (~$1.1B net inventory) and reports the freshest book in nearly four years.
Profitability Progress and Guidance
As of April 1, Opendoor is adjusted EBITDA profitable on a forward 12-month basis. Management expects Q2 adjusted EBITDA to be breakeven (± a few million) and to be adjusted net income (ANI) positive on a 12-month go-forward basis by year-end 2026.
Liquidity and Financing Flexibility
Ended Q1 with $999 million in unrestricted cash (highest in years). Nonrecourse asset-backed borrowing capacity of $7.1 billion with $1.5 billion committed; warehouse capacity and warrant structures provide optionality to fund growth.
AI and Operating Efficiency Gains
Multiple AI/operator-led improvements reduced friction and cost: title intake cut from up to 5 hours to ~15 minutes; AI repair negotiation cut buyer fall-through by double digits; pilot renovation scoping reduced pre-list renovation spend by ~10%–20% per home; fixed operating expenses $33M in Q1, down $2M QoQ and $6M YoY while TTM ops expense/revenue held at 1.3%.
Product Innovation and Adoption
Cash Now, More Later rapidly scaled to >1/3 of Q1 acquisition contracts (was 0 a year ago). Seller-led assessments exceed 50% (6,000 in March). Opendoor Mortgage launched in Colorado with attach rates above expectations and mortgage pricing ~100 basis points below market average.
OPEN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
OPEN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $5.32 | $5.01 | -5.83% |
Feb 19, 2026 | $4.65 | $5.00 | +7.53% |
Nov 06, 2025 | $6.56 | $6.56 | 0.00% |
Aug 05, 2025 | $2.52 | $1.90 | -24.60% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Opendoor Technologies Inc (OPEN) report earnings?
Opendoor Technologies Inc (OPEN) is schdueled to report earning on Jul 30, 2026, After Close (Confirmed).
What is Opendoor Technologies Inc (OPEN) earnings time?
Opendoor Technologies Inc (OPEN) earnings time is at Jul 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is OPEN EPS forecast?
OPEN EPS forecast for the fiscal quarter 2026 (Q2) is -0.08.
