Opendoor Technologies Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Opendoor Technologies Inc reported revenue of $4.4B (-15.2% year on year) and net income of ($1.3B) (-231.6% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| REVENUE | $4.4B | $5.2B | $6.9B | $15.6B |
| COST OF REVENUE | $4.0B | $4.7B | $6.5B | $14.9B |
| GROSS PROFIT | $350.0M | $433.0M | $487.0M | $667.0M |
| Sales, marketing and operations | $310.0M | $413.0M | $486.0M | $1.0B |
| General and administrative | $238.0M | $182.0M | $206.0M | $346.0M |
| Technology and development | $79.0M | $141.0M | $167.0M | $169.0M |
| Restructuring | $10.0M | $17.0M | $14.0M | $17.0M |
| Total operating expenses | $637.0M | $753.0M | $873.0M | $1.6B |
| LOSS FROM OPERATIONS | ($287.0M) | ($320.0M) | ($386.0M) | ($931.0M) |
| (LOSS) GAIN ON EXTINGUISHMENT OF DEBT | ($924.0M) | ($2.0M) | $216.0M | ($25.0M) |
| INTEREST EXPENSE | ($131.0M) | ($133.0M) | ($211.0M) | ($385.0M) |
| OTHER INCOME – Net | $42.0M | $64.0M | $107.0M | ($10.0M) |
| LOSS BEFORE INCOME TAXES | ($1.3B) | ($391.0M) | ($274.0M) | ($1.4B) |
| INCOME TAX EXPENSE | $0 | ($1.0M) | ($1.0M) | ($2.0M) |
| Net loss | ($1.3B) | ($392.0M) | ($275.0M) | ($1.4B) |
| Basic (in dollars per share) | -$1.70 | -$0.56 | -$0.42 | -$2.16 |
| Diluted (in dollars per share) | -$1.70 | -$0.56 | -$0.42 | -$2.16 |
| Basic (in shares) | 766.5M | 699.5M | 657.1M | 627.1M |
| Diluted (in shares) | 766.5M | 699.5M | 657.1M | 627.1M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| REVENUE | $883.0M | $720.0M | $915.0M | $1.6B |
| COST OF REVENUE | $797.0M | $648.0M | $849.0M | $1.4B |
| GROSS PROFIT | $86.0M | $72.0M | $66.0M | $128.0M |
| Sales, marketing and operations | $65.0M | $70.0M | $66.0M | $86.0M |
| General and administrative | $135.0M | $137.0M | $48.0M | $28.0M |
| Technology and development | $27.0M | $24.0M | $19.0M | $21.0M |
| Restructuring | $3.0M | $0 | $1.0M | $6.0M |
| Total operating expenses | $230.0M | $231.0M | $134.0M | $141.0M |
| LOSS FROM OPERATIONS | ($144.0M) | ($159.0M) | ($68.0M) | ($13.0M) |
| (LOSS) GAIN ON EXTINGUISHMENT OF DEBT | $0 | ($1.0M) | ($1.0M) | $10.0M |
| INTEREST EXPENSE | ($29.0M) | ($23.0M) | ($34.0M) | ($36.0M) |
| OTHER INCOME – Net | $11.0M | $10.0M | $14.0M | $10.0M |
| LOSS BEFORE INCOME TAXES | ($162.0M) | ($173.0M) | ($89.0M) | ($29.0M) |
| INCOME TAX EXPENSE | ($100.0K) | ($100.0K) | ($1.0M) | ($200.0K) |
| NET LOSS | ($162.0M) | ($173.0M) | ($90.0M) | ($29.0M) |
| Basic (in dollars per share) | -$0.17 | -$0.18 | -$0.12 | -$0.04 |
| Diluted (in dollars per share) | -$0.17 | -$0.18 | -$0.12 | -$0.04 |
| Basic (in shares) | 965.8M | 959.3M | 741.9M | 729.5M |
| Diluted (in shares) | 965.8M | 959.3M | 741.9M | 729.5M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $962.0M | $671.0M | $999.0M | $1.1B |
| Restricted cash | $339.0M | $92.0M | $541.0M | $654.0M |
| Marketable securities | $0 | $8.0M | $69.0M | $144.0M |
| Escrow receivable | $4.0M | $6.0M | $9.0M | $30.0M |
| Real estate inventory, net | $925.0M | $2.2B | $1.8B | $4.5B |
| Other current assets | $69.0M | $61.0M | $52.0M | $41.0M |
| Total current assets | $2.3B | $3.0B | $3.4B | $6.5B |
| PROPERTY AND EQUIPMENT – Net | $27.0M | $48.0M | $66.0M | $58.0M |
| RIGHT OF USE ASSETS | $8.0M | $18.0M | $25.0M | $41.0M |
| GOODWILL | $3.0M | $3.0M | $4.0M | $4.0M |
| OTHER ASSETS | $70.0M | $60.0M | $22.0M | $27.0M |
| TOTAL ASSETS | $2.4B | $3.1B | $3.6B | $6.6B |
| Accounts payable and other accrued liabilities | $80.0M | $92.0M | $64.0M | $110.0M |
| Non-recourse asset-backed debt - current portion | $52.0M | $432.0M | $0 | $1.4B |
| Convertible senior notes - current portion | $193.0M | — | — | — |
| Interest payable | $1.0M | $3.0M | $1.0M | $12.0M |
| Lease liabilities – current portion | $1.0M | $2.0M | $5.0M | $7.0M |
| Total current liabilities | $327.0M | $529.0M | $70.0M | $1.5B |
| NON-RECOURSE ASSET-BACKED DEBT – Net of current portion | $1.1B | $1.5B | $2.1B | $3.0B |
| CONVERTIBLE SENIOR NOTES - Net of current portion | $0 | $378.0M | $376.0M | $959.0M |
| LEASE LIABILITIES – Net of current portion | $6.0M | $13.0M | $19.0M | $38.0M |
| OTHER LIABILITIES | $1.0M | $1.0M | $1.0M | — |
| Total liabilities | $1.4B | $2.4B | $2.6B | $5.5B |
| 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 |
| Additional paid-in capital | $6.0B | $4.4B | $4.3B | $4.1B |
| Accumulated deficit | ($5.0B) | ($3.7B) | ($3.3B) | ($3.1B) |
| Accumulated other comprehensive loss | $0 | $0 | ($1.0M) | ($4.0M) |
| Total shareholders’ equity | $1.0B | $713.0M | $967.0M | $1.1B |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $2.4B | $3.1B | $3.6B | $6.6B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $896.0M | $999.0M | $962.0M | $789.0M |
| Restricted cash | $66.0M | $68.0M | $490.0M | $396.0M |
| Escrow receivable | $13.0M | $10.0M | $9.0M | $10.0M |
| Real estate inventory, net | $1.8B | $1.1B | $1.1B | $1.5B |
| Other current assets | $30.0M | $26.0M | $73.0M | $72.0M |
| Total current assets | $2.9B | $2.2B | $2.6B | $2.8B |
| PROPERTY AND EQUIPMENT – Net | $24.0M | $25.0M | $31.0M | $37.0M |
| RIGHT OF USE ASSETS | $10.0M | $8.0M | $9.0M | $9.0M |
| GOODWILL | $3.0M | $3.0M | $3.0M | $3.0M |
| OTHER ASSETS | $74.0M | $71.0M | $70.0M | $61.0M |
| TOTAL ASSETS | $3.0B | $2.3B | $2.7B | $2.9B |
| Accounts payable and other accrued liabilities | $78.0M | $53.0M | $91.0M | $86.0M |
| Non-recourse asset-backed debt – current portion | $691.0M | $68.0M | $374.0M | $550.0M |
| Convertible senior notes – current portion | $194.0M | $193.0M | $439.0M | — |
| Interest payable | $3.0M | $2.0M | $9.0M | $5.0M |
| Lease liabilities – current portion | $2.0M | $1.0M | $1.0M | $2.0M |
| Total current liabilities | $968.0M | $317.0M | $914.0M | $643.0M |
| NON-RECOURSE ASSET-BACKED DEBT – Net of current portion | $1.1B | $1.1B | $966.0M | $1.2B |
| LEASE LIABILITIES – Net of current portion | $6.0M | $6.0M | $7.0M | $6.0M |
| OTHER LIABILITIES | $2.0M | $2.0M | $2.0M | $1.0M |
| Total liabilities | $2.0B | $1.4B | $1.9B | $2.3B |
| Common stock, $0.0001 par value; 3,000,000,000 shares authorized; 968,626,958 and 957,245,487 shares issued, respectively; 968,626,958 and 957,245,487 shares outstanding, respectively | 0 | 0 | 0 | 0 |
| Additional paid-in capital | $6.3B | $6.2B | $4.7B | $4.5B |
| Accumulated deficit | ($5.4B) | ($5.2B) | ($3.9B) | ($3.8B) |
| Accumulated other comprehensive loss | ($1.0M) | $0 | $0 | $0 |
| Total shareholders’ equity | $914.0M | $954.0M | $811.0M | $631.0M |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $3.0B | $2.3B | $2.7B | $2.9B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net loss | ($1.3B) | ($392.0M) | ($275.0M) | ($1.4B) |
| Depreciation and amortization | $44.0M | $48.0M | $65.0M | $83.0M |
| Amortization of right of use asset | $2.0M | $5.0M | $7.0M | $7.0M |
| Stock-based compensation | $159.0M | $114.0M | $126.0M | $171.0M |
| Inventory valuation adjustment | $57.0M | $57.0M | $65.0M | $737.0M |
| Changes in fair value of equity securities | $3.0M | $7.0M | $1.0M | $35.0M |
| Other | $5.0M | $7.0M | $13.0M | — |
| Proceeds from sale and principal collections of mortgage loans held for sale | $0 | $0 | $1.0M | $128.0M |
| Loss (gain) on early extinguishment of debt | $924.0M | $2.0M | ($216.0M) | — |
| Gain on deconsolidation, net | $0 | ($14.0M) | — | — |
| Escrow receivable | $2.0M | $3.0M | $21.0M | $54.0M |
| Real estate inventory | $1.2B | ($449.0M) | $2.6B | $896.0M |
| Other assets | ($9.0M) | ($10.0M) | ($19.0M) | $37.0M |
| Accounts payable and other accrued liabilities | ($7.0M) | $31.0M | ($38.0M) | ($25.0M) |
| Interest payable | ($2.0M) | $2.0M | ($10.0M) | $2.0M |
| Lease liabilities | ($1.0M) | ($6.0M) | ($10.0M) | ($8.0M) |
| Net cash provided by (used in) operating activities | $1.0B | ($595.0M) | $2.3B | $730.0M |
| Purchase of property and equipment | ($12.0M) | ($25.0M) | ($37.0M) | ($37.0M) |
| Proceeds from sales, maturities, redemptions and paydowns of marketable securities | $6.0M | $55.0M | $80.0M | $328.0M |
| Purchase of non-marketable equity securities | ($6.0M) | $0 | $0 | ($25.0M) |
| Proceeds from sale of non-marketable equity securities | $0 | $0 | $1.0M | $3.0M |
| Cash impact of deconsolidation of subsidiaries | $0 | ($2.0M) | — | — |
| Net cash (used in) provided by investing activities | ($12.0M) | $28.0M | $44.0M | $234.0M |
| Proceeds from issuance of convertible senior notes, net of discount | $75.0M | — | $0 | $0 |
| Repurchase of convertible senior notes | ($1.2B) | $0 | ($362.0M) | — |
| Settlement of Capped Calls related to convertible senior notes | $1.0M | $2.0M | — | — |
| Proceeds from exercise of stock options | $4.0M | $0 | $3.0M | $4.0M |
| Proceeds from issuance of common stock for ESPP | $2.0M | $5.0M | $2.0M | $2.0M |
| Proceeds from PIPE offering | $41.0M | — | — | — |
| Proceeds from the issuance of common stock under at-the-market offering, net | $198.0M | — | $0 | $0 |
| Issuance of common stock in connection with the repurchase of convertible notes | $1.2B | — | — | — |
| Proceeds from non-recourse asset-backed debt | $684.0M | $498.0M | $238.0M | $10.1B |
| Principal payments on non-recourse asset-backed debt | ($1.5B) | ($715.0M) | ($2.5B) | ($11.8B) |
| Payment of loan origination fees and debt issuance costs | ($17.0M) | $0 | ($1.0M) | ($26.0M) |
| Payment for early extinguishment of debt | ($4.0M) | $0 | ($4.0M) | ($10.0M) |
| Other financing activities | ($2.0M) | — | — | — |
| Net cash used in financing activities | ($499.0M) | ($210.0M) | ($2.6B) | ($1.8B) |
| NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | $538.0M | ($777.0M) | ($251.0M) | ($787.0M) |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – Beginning of year | $763.0M | $1.5B | $1.8B | $2.6B |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – End of year | $1.3B | $763.0M | $1.5B | $1.8B |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION – Cash paid during the period for interest | $120.0M | $121.0M | $203.0M | $355.0M |
| Stock-based compensation expense capitalized for internally developed software | $4.0M | $15.0M | $23.0M | $16.0M |
| Principal value of 2026 Notes extinguished in Debt Exchange | ($246.0M) | — | — | — |
| Principal value of 2030 Notes issued in Debt Exchange | $246.0M | — | — | — |
| Investment in non-marketable equity securities due to deconsolidation | $3.0M | $39.0M | — | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net loss | ($335.0M) | ($173.0M) | ($204.0M) | ($114.0M) |
| Depreciation and amortization | $16.0M | $8.0M | $33.0M | $22.0M |
| Amortization of right of use asset | $1.0M | $0 | $2.0M | $1.0M |
| Stock-based compensation | $239.0M | $120.0M | $54.0M | $27.0M |
| Inventory valuation adjustment | $23.0M | $9.0M | $48.0M | $34.0M |
| Changes in fair value of equity securities | $0 | $0 | $3.0M | $3.0M |
| Loss (gain) on extinguishment of debt | $1.0M | $1.0M | ($9.0M) | ($10.0M) |
| Other | $5.0M | $3.0M | $7.0M | $4.0M |
| Origination of mortgage loans held for sale | ($5.0M) | ($1.0M) | — | — |
| Proceeds from sale and principal collections of mortgage loans held for sale | $5.0M | — | — | — |
| Escrow receivable | ($9.0M) | ($6.0M) | ($3.0M) | ($4.0M) |
| Real estate inventory | ($932.0M) | ($221.0M) | $1.1B | $593.0M |
| Other assets | $37.0M | $42.0M | ($15.0M) | ($11.0M) |
| Accounts payable and other accrued liabilities | ($11.0M) | ($29.0M) | $4.0M | ($2.0M) |
| Interest payable | $2.0M | $1.0M | $6.0M | $2.0M |
| Lease liabilities | ($1.0M) | $0 | ($1.0M) | ($1.0M) |
| Net cash (used in) provided by operating activities | ($964.0M) | ($246.0M) | $979.0M | $544.0M |
| Purchase of property and equipment | ($9.0M) | ($4.0M) | ($9.0M) | ($6.0M) |
| Proceeds from sales, maturities, redemptions and paydowns of marketable securities | $0 | $0 | $6.0M | $6.0M |
| Purchase of non-marketable equity securities | ($5.0M) | — | — | — |
| Net cash (used in) provided by investing activities | ($14.0M) | ($4.0M) | ($9.0M) | $0 |
| Proceeds from issuance of convertible senior notes, net of discount | $0 | — | $75.0M | $75.0M |
| Proceeds from issuance of common stock for ESPP | $1.0M | $1.0M | $2.0M | $1.0M |
| Proceeds from non-recourse asset-backed debt | $781.0M | $68.0M | $684.0M | $671.0M |
| Principal payments on non-recourse asset-backed debt | ($143.0M) | ($53.0M) | ($1.3B) | ($853.0M) |
| Payment of loan origination fees and debt issuance costs | $0 | $0 | ($16.0M) | ($16.0M) |
| Net cash provided by (used in) financing activities | $639.0M | $16.0M | ($281.0M) | ($122.0M) |
| NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | ($339.0M) | ($234.0M) | $689.0M | $422.0M |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – Beginning of period | $1.3B | $1.3B | $763.0M | $763.0M |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – End of period | $962.0M | $1.1B | $1.5B | $1.2B |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION – Cash paid during the period for interest | $46.0M | $20.0M | $88.0M | $62.0M |
| Stock-based compensation expense capitalized for internally developed software | $5.0M | $1.0M | $3.0M | $2.0M |
| Principal value of 2026 Notes extinguished in Debt Exchange | $0 | — | ($246.0M) | ($246.0M) |
| Principal value of 2030 Notes issued in Debt Exchange | $0 | — | $246.0M | $246.0M |
| Cash and cash equivalents | $896.0M | $999.0M | $962.0M | $789.0M |
| Restricted cash | $66.0M | $68.0M | $490.0M | $396.0M |
| Cash, cash equivalents, and restricted cash | $962.0M | $1.1B | $1.5B | $1.2B |
Opendoor Technologies Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.