OPEN · Opendoor Technologies Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $720.00M | - | $915.00M | $1.57B | $1.15B | - | $1.38B | $1.51B | $1.18B | - |
| Cost of Revenue | $648.00M | - | $849.00M | $1.44B | $1.05B | - | $1.27B | $1.38B | $1.07B | - |
| Gross Profit | $72.00M | - | $66.00M | $128.00M | $99.00M | - | $105.00M | $129.00M | $114.00M | - |
| R&D | $24.00M | - | $19.00M | $21.00M | $21.00M | - | $30.00M | $37.00M | $41.00M | - |
| SG&A | $137.00M | - | $48.00M | $28.00M | $33.00M | - | $46.00M | $48.00M | $47.00M | - |
| Total Operating Expenses | $231.00M | - | $134.00M | $141.00M | $155.00M | - | $172.00M | $201.00M | $201.00M | - |
| D&A | $6.00M | - | $8.00M | $8.00M | $8.00M | - | $7.00M | $9.00M | $9.00M | - |
| Operating Income | ($159.00M) | - | ($68.00M) | ($13.00M) | ($56.00M) | - | ($67.00M) | ($72.00M) | ($87.00M) | - |
| Interest Expense | $23.00M | - | $34.00M | $36.00M | $37.00M | - | $34.00M | $30.00M | $37.00M | - |
| Income Tax | $100.0K | - | $1.00M | $200.0K | $200.0K | - | $0 | $1.00M | $200.0K | - |
| Net Income | ($173.00M) | - | ($90.00M) | ($29.00M) | ($85.00M) | - | ($78.00M) | ($92.00M) | ($109.00M) | - |
| EPS - Basic | ($0.18) | - | ($0.12) | ($0.04) | ($0.12) | - | ($0.11) | ($0.13) | ($0.16) | - |
| EPS - Diluted | ($0.18) | - | ($0.12) | ($0.04) | ($0.12) | - | ($0.11) | ($0.13) | ($0.16) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $999.00M | $962.00M | $962.00M | $789.00M | $559.00M | $671.00M | $829.00M | $790.00M | $953.00M | $999.00M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | $0 | - | - | - | $9.00M | - | - | - | $2.00M |
| Current Assets | $2.24B | $2.30B | $2.59B | $2.80B | $3.15B | $3.00B | $3.26B | $3.25B | $3.28B | $3.44B |
| Total Assets | $2.35B | $2.41B | $2.70B | $2.91B | $3.28B | $3.13B | $3.41B | $3.37B | $3.40B | $3.57B |
| Current Liabilities | $317.00M | $327.00M | $914.00M | $643.00M | $1.05B | $529.00M | $721.00M | $393.00M | $74.00M | $70.00M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $1.40B | $1.40B | $1.89B | $2.28B | $2.63B | $2.41B | $2.61B | $2.53B | $2.50B | $2.60B |
| Stockholders' Equity | $954.00M | $1.00B | $811.00M | $631.00M | $645.00M | $713.00M | $801.00M | $845.00M | $899.00M | $967.00M |
| Retained Earnings | ($5.21B) | ($5.03B) | ($3.93B) | ($3.84B) | ($3.81B) | ($3.73B) | ($3.61B) | ($3.53B) | ($3.44B) | ($3.33B) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($246.00M) | - | - | - | ($279.00M) | - | - | - | ($178.00M) | - |
| Investing Cash Flow | ($4.00M) | - | - | - | $2.00M | - | - | - | $22.00M | - |
| Financing Cash Flow | $16.00M | - | - | - | $207.00M | - | - | - | ($98.00M) | - |
| CapEx | $4.00M | - | - | - | $4.00M | - | - | - | $8.00M | - |
| Free Cash Flow | ($250.00M) | - | - | - | ($283.00M) | - | - | - | ($186.00M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 10.0% | - | 7.2% | 8.2% | 8.6% | - | 7.6% | 8.5% | 9.7% | - |
| Operating margin | -22.1% | - | -7.4% | -0.8% | -4.9% | - | -4.9% | -4.8% | -7.4% | - |
| EBITDA margin | -21.3% | - | -6.6% | -0.3% | -4.2% | - | -4.4% | -4.2% | -6.6% | - |
| Net margin | -24.0% | - | -9.8% | -1.9% | -7.4% | - | -5.7% | -6.1% | -9.2% | - |
| Free cash flow margin | -34.7% | - | - | - | -24.5% | - | - | - | -15.7% | - |
| FCF / Net income | 1.45 | - | - | - | 3.33 | - | - | - | 1.71 | - |
| R&D / Revenue | 3.3% | - | 2.1% | 1.3% | 1.8% | - | 2.2% | 2.4% | 3.5% | - |
| SG&A / Revenue | 19.0% | - | 5.2% | 1.8% | 2.9% | - | 3.3% | 3.2% | 4.0% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -7.4% | - | -3.3% | -1.0% | -2.6% | - | -2.3% | -2.7% | -3.2% | - |
| Return on equity | -18.1% | - | -11.1% | -4.6% | -13.2% | - | -9.7% | -10.9% | -12.1% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 7.07 | 7.03 | 2.83 | 4.35 | 2.99 | 5.67 | 4.53 | 8.27 | 44.38 | 49.21 |
| Quick ratio | 7.07 | 7.03 | 2.83 | 4.35 | 2.99 | 5.67 | 4.53 | 8.27 | 44.38 | 49.21 |
| Cash ratio | 3.15 | 2.94 | 1.05 | 1.23 | 0.53 | 1.27 | 1.15 | 2.01 | 12.88 | 14.27 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -6.9x | - | -2.0x | -0.4x | -1.5x | - | -2.0x | -2.4x | -2.4x | - |
| Equity multiplier | 2.46 | 2.40 | 3.33 | 4.61 | 5.08 | 4.38 | 4.26 | 3.99 | 3.79 | 3.69 |
| Liabilities / Assets | 0.59 | 0.58 | 0.70 | 0.78 | 0.80 | 0.77 | 0.77 | 0.75 | 0.74 | 0.73 |
| Efficiency | ||||||||||
| Asset turnover | 0.31 | - | 0.34 | 0.54 | 0.35 | - | 0.40 | 0.45 | 0.35 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 4.7x | - | 7.3x | 0.6x | 1.1x | - | 1.8x | 1.5x | 2.3x | - |
| P / S | 6.2x | - | 6.5x | 0.2x | 0.6x | - | 1.0x | 0.8x | 1.8x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -37.6% | - | -33.6% | 3.7% | -2.4% | - | 40.5% | -23.5% | -62.1% | - |
| Revenue CAGR (3y) | -38.7% | - | -35.2% | -28.0% | -39.3% | - | -15.3% | 8.4% | 16.5% | - |
| Revenue CAGR (5y) | -0.7% | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | -27.3% | - | -37.1% | -0.8% | -13.2% | - | 9.4% | -13.4% | -32.9% | - |
| Operating income growth (YoY) | -183.9% | - | -1.5% | 81.9% | 35.6% | - | 15.2% | -5.9% | 29.8% | - |
| Net income growth (YoY) | -103.5% | - | -15.4% | 68.5% | 22.0% | - | 26.4% | -70.4% | -7.9% | - |
| EPS growth (YoY) | -50.0% | - | -9.1% | 69.2% | 25.0% | - | 31.3% | - | 0.0% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 11.7% | - | - | - | -52.2% | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 47.9% | 41.0% | 1.2% | -25.3% | -28.3% | -26.3% | -21.5% | -22.2% | -13.2% | -11.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$4.37B totalReportable Segment$4.37B · 100.0%
Peer comparison
Same SIC group: Real Estate Agents & Managers (For Others)
Comparing Opendoor Technologies Inc. against the 5 most active filers in the same SIC group.