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Opendoor Technologies
(NASDAQ:OPEN)
Opendoor Technologies (OPEN) vs. SPDR S&P 500 ETF (SPY)
Opendoor Technologies Business Overview & Revenue Model
Opendoor Technologies Key Performance Indicators (KPIs)
Tracks the number of homes Opendoor buys and sells, reflecting its market activity, growth trajectory, and ability to scale its business model in the real estate market.
The FlyOpendoor Technologies Earnings Call Summary
Opendoor Technologies Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.72B | 5.15B | 6.95B | 15.57B | 8.02B | 2.58B |
| Gross Profit | 378.00M | 433.00M | 487.00M | 667.00M | 730.00M | 220.00M |
| EBITDA | -134.00M | -243.00M | 9.00M | -876.00M | -509.00M | -122.00M |
| Net Income | -317.00M | -392.00M | -275.00M | -1.35B | -662.00M | -253.00M |
Balance Sheet | ||||||
| Total Assets | 2.70B | 3.13B | 3.57B | 6.61B | 9.51B | 2.18B |
| Cash, Cash Equivalents and Short-Term Investments | 962.00M | 679.00M | 1.07B | 1.28B | 2.21B | 1.46B |
| Total Debt | 439.00M | 2.32B | 2.53B | 5.40B | 7.11B | 550.00M |
| Total Liabilities | 1.89B | 2.41B | 2.60B | 5.52B | 7.26B | 623.00M |
| Stockholders Equity | 811.00M | 713.00M | 967.00M | 1.09B | 2.25B | 1.55B |
Cash Flow | ||||||
| Free Cash Flow | 887.00M | -620.00M | 2.31B | 693.00M | -5.83B | 665.00M |
| Operating Cash Flow | 899.00M | -595.00M | 2.34B | 730.00M | -5.79B | 682.00M |
| Investing Cash Flow | -12.00M | 28.00M | 44.00M | 234.00M | -476.00M | -22.00M |
| Financing Cash Flow | -489.00M | -210.00M | -2.64B | -1.75B | 7.34B | 161.00M |
Opendoor Technologies Technical Analysis
Opendoor Technologies Risk Analysis
Opendoor Technologies Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ― | 16.53 | 12.21% | ― | 6.77% | 150.72% | |
67 Neutral | $263.86M | 13.18 | 2.87% | ― | -6.06% | ― | |
67 Neutral | $1.74B | ― | -8.09% | 1.83% | 5.08% | 41.21% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
62 Neutral | $19.87B | 43.17 | 4.74% | 2.10% | 21.68% | -18.57% | |
59 Neutral | $6.82B | ― | -39.33% | ― | -4.45% | 18.95% | |
44 Neutral | $67.45M | -0.94 | -104.99% | ― | -36.25% | 11.92% |
Opendoor Technologies Corporate Events
Opendoor Technologies Inc. announced the distribution of warrants to its shareholders and certain convertible noteholders as a special dividend on November 21, 2025. This move, described by CEO Kaz Nejatian as a demonstration of confidence in the company’s long-term value, aims to realign shareholder interests. The warrants, which are exercisable for cash, are set to trade on Nasdaq under the tickers OPENW, OPENL, and OPENZ, with expiration dates set for November 20, 2026, unless early expiration conditions are met. This distribution is part of Opendoor’s strategy to strengthen its relationship with shareholders, reflecting a structural commitment to their interests.
On November 7, 2025, Opendoor Technologies Inc. filed a prospectus supplement with the SEC to register the issuance and sale of 180,580,200 shares of common stock at $6.56 per share. This filing, supported by a legal opinion from Latham & Watkins LLP, is part of the company’s strategy to leverage its effective shelf registration statement to raise capital, potentially impacting its market positioning and stakeholder interests.
On November 6, 2025, Opendoor Technologies announced a special dividend distribution of warrants to its common stockholders, aiming to align shareholder and management interests. The distribution will provide three series of warrants—Series K, A, and Z—per thirty shares held, with exercise prices set at $9, $13, and $17 respectively. Additionally, Opendoor entered into share purchase agreements to issue 180,580,200 shares at $6.56 each, using proceeds to repurchase $264 million of its 2030 Convertible Notes. This move is designed to strengthen the balance sheet without materially impacting cash position, though it may affect stock trading prices.
On November 6, 2025, Opendoor Technologies announced its financial results for the third quarter ending September 30, 2025, with a focus on transitioning into a software and AI-driven company under new CEO Kaz Nejatian. The company aims to achieve profitability by enhancing transaction volumes, improving unit economics, and maintaining operational efficiency. Despite reporting a net loss of $90 million for the quarter, Opendoor is committed to reaching breakeven adjusted net income by the end of the next year through strategic initiatives such as scaling acquisitions, improving resale speed, and leveraging its existing cost structure.
On September 11, 2025, the U.S. District Court for the District of Arizona granted preliminary approval for a settlement in a derivative action involving Opendoor Technologies Inc. This settlement, which includes related litigation in Delaware, involves Opendoor adopting corporate governance reforms in exchange for a full release of claims. The settlement follows a global mediation held on February 7, 2025, and aims to resolve multiple shareholder derivative actions against the company and its executives.
Opendoor Technologies Inc. announced the appointment of Christy Schwartz as interim Chief Financial Officer effective September 30, 2025, following the departure of Selim Freiha on September 19, 2025. Schwartz, who has previously served in various roles within the company, including interim CFO and Chief Accounting Officer, will hold the interim position until May 15, 2026, or until a new CFO is appointed. Her compensation package includes a base salary of $1,200,000 and 400,641 restricted stock units, with specific terms for vesting and severance.
Opendoor Technologies Inc. announced its intention to expand its product offerings to cover the entire continental United States in the coming weeks. This expansion will involve utilizing direct cash offers, cash plus options, or working with partner agents to provide listing services, potentially enhancing its market reach and operational capabilities.
On September 10, 2025, Opendoor Technologies announced significant leadership changes and a $40 million investment through private equity financing. Kaz Nejatian, formerly of Shopify, was appointed as the new CEO, while co-founders Keith Rabois and Eric Wu returned to the board, with Rabois becoming Chairman. These changes are aimed at leveraging AI to enhance Opendoor’s operations and market positioning as an AI-first company, with the investment from Khosla Ventures and Wu intended to accelerate growth and innovation.