Opendoor Technologies Inc. OPEN

Real estate SIC 6531 - Real Estate Agents & Managers (For Others) NAICS Real Estate and Rental and Leasing › Real Estate derived Nasdaq

Our mission is to tilt the world in favor of homeowners, by making homeownership simpler, faster, and fairer for everyone.

We are a leading e-commerce platform for residential real estate transactions and the largest U.S. iBuyer. Since founding Opendoor in 2014, our goal has been to reinvent one of life's most important transactions by enabling homeowners to buy, sell, and move through a simple, certain, and largely digital experience. By leveraging artificial intelligence, data science and purpose-built software, we enable consumers to transact directly with Opendoor, eliminating traditional friction and intermediaries. Our platform combines product design and operations to create what we believe will be the future of how people buy or sell a home.

Last close 1.98 2026-10-23
Market cap $1.92B 2026-06-30 share count
52-week range 1.88 - 9.15

Valuation FY2025 figures against the last close

P/S0.4x
P/E—
P/FCF1.9x
EV/EBITDA—
Dividend yield—
Diluted EPS-1.70

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Revenue $4.37B$5.15B$6.95B$15.57B$8.02B$2.58B$4.74B$1.84B—
Cost of revenue $4.02B$4.72B$6.46B$14.90B$7.29B$2.36B$4.44B$1.70B—
Gross profit $350.0M$433.0M$487.0M$667.0M$730.0M$220.0M$301.0M$133.4M—
R&D $79.0M$141.0M$167.0M$169.0M$134.0M$56.0M$51.0M$28.5M—
SG&A $238.0M$182.0M$206.0M$346.0M$620.0M$132.0M$114.0M$72.3M—
Total operating expenses $637.0M$753.0M$873.0M$1.60B$1.30B$406.0M$549.0M$297.1M—
Operating income -$287.0M-$320.0M-$386.0M-$931.0M-$568.0M-$186.0M-$248.0M-$163.7M—
Interest expense $131.0M$133.0M$211.0M$385.0M$143.0M$68.0M$110.0M$60.5M—
Pre-tax income -$1.30B-$391.0M-$274.0M-$1.35B-$661.0M-$253.0M-$339.0M-$239.6M—
Income tax $0$1.0M$1.0M$2.0M$1.0M$0$0$377.0K—
Net income -$1.30B-$392.0M-$275.0M-$1.35B-$662.0M-$253.0M-$341.0M-$241.3M—
EPS, basic -1.70-0.56-0.42-2.16-1.12-2.31-4.26-3.16—
EPS, diluted -1.70-0.56-0.42-2.16-1.12-2.31-4.37-3.16—
Shares, diluted (wtd. avg.) 766.5M699.5M657.1M627.1M592.6M109.3M80.0M78.6M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Cash and equivalents $962.0M$671.0M$999.0M$1.79B$2.58B$1.51B$685.0M$406.0M$96.3M
Short-term investments $0$8.0M$69.0M$144.0M$484.0M$48.0M$43.6M——
Total current assets $2.30B$3.00B$3.44B$6.47B$9.34B$2.05B$2.09B——
Property, plant and equipment $27.0M$48.0M$66.0M$58.0M$45.0M$29.0M$34.6M——
Goodwill $3.0M$3.0M$4.0M$4.0M$60.0M$31.0M$30.9M——
Other intangibles $0$0$5.0M$12.0M$12.0M$9.0M$12.4M——
Total assets $2.41B$3.13B$3.57B$6.61B$9.51B$2.18B$2.23B——
Accounts payable $80.0M$92.0M$64.0M$110.0M$137.0M$25.0M$33.0M——
Short-term debt —————$346.3M$1.07B——
Total current liabilities $327.0M$529.0M$70.0M$1.50B$4.40B$393.0M$1.13B——
Long-term debt —————$135.5M———
Total liabilities $1.40B$2.41B$2.60B$5.52B$7.26B$623.0M$1.58B——
Retained earnings -$5.03B-$3.73B-$3.33B-$3.06B-$1.71B-$1.04B-$790.5M——
Total equity $1.00B$713.0M$967.0M$1.09B$2.25B$1.55B-$733.0M-$414.0M-$150.6M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Operating cash flow $1.05B-$595.0M$2.34B$730.0M-$5.79B$682.0M-$272.0M-$1.18B—
Depreciation and amortisation $31.0M$33.0M$38.0M$37.0M$27.0M$22.0M$15.0M$4.6M—
Stock-based compensation $159.0M$114.0M$126.0M$171.0M$536.0M$38.0M$13.0M$8.4M—
Capital expenditure $12.0M$25.0M$37.0M$37.0M$33.0M$17.0M$28.0M$20.0M—
Investing cash flow -$12.0M$28.0M$44.0M$234.0M-$476.0M-$22.0M-$95.0M-$7.4M—
Financing cash flow -$499.0M-$210.0M-$2.64B-$1.75B$7.34B$161.0M$646.0M$1.50B—
Buybacks ————$0$0$3.0M$37.8M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-017460.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -5B 0 5B 10B 15B 20B Revenue, FY2018: 1.8B Gross profit, FY2018: 133.4M Net income, FY2018: -241.3M Revenue, FY2019: 4.7B Gross profit, FY2019: 301M Net income, FY2019: -341M Revenue, FY2020: 2.6B Gross profit, FY2020: 220M Net income, FY2020: -253M Revenue, FY2021: 8B Gross profit, FY2021: 730M Net income, FY2021: -662M Revenue, FY2022: 15.6B Gross profit, FY2022: 667M Net income, FY2022: -1.4B Revenue, FY2023: 6.9B Gross profit, FY2023: 487M Net income, FY2023: -275M Revenue, FY2024: 5.2B Gross profit, FY2024: 433M Net income, FY2024: -392M Revenue, FY2025: 4.4B Gross profit, FY2025: 350M Net income, FY2025: -1.3B FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $1.84B $4.74B $2.58B $8.02B $15.57B $6.95B $5.15B $4.37B
Gross profit — $133.4M $301.0M $220.0M $730.0M $667.0M $487.0M $433.0M $350.0M
Net income — -$241.3M -$341.0M -$253.0M -$662.0M -$1.35B -$275.0M -$392.0M -$1.30B

Recent filings and events

  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Material agreement signed Item 1.01
  • Unregistered share sale Item 3.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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