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Financials · OPEN

Opendoor Technologies Inc (OPEN) financials

For the twelve months ended Sep 30, 2026, Opendoor Technologies Inc reported $3.36B of revenue and -$1.65B of net income.

Revenue, TTM
$3.36B
Revenue growth, YoY
-28.8%
Net income, TTM
-$1.65B
Net margin
-49.1%
Free cash flow, TTM
-$1.74B
EPS, diluted, TTM
-$2.00
Cash
$910.00M
P/S
0.39
Market cap
$1.31B
Annual revenue$4.37B
FY2018FY2025
Annual net income-$1.30B
FY2018FY2025
Annual free cash flow$1.04B
FY2018FY2025

OPEN revenue and earnings growth

OPEN revenueQ3 2026$1.02B

Quarter YoY
+11.7%
QoQ
+15.7%
FY YoY
-15.2%
5Y CAGR
+11.1%

OPEN revenue was $1.02B in fiscal Q3 2026 (ended Sep 30, 2026), up 11.7% from a year earlier and up 15.7% from the prior quarter. For the full fiscal 2025 it was $4.37B, down 15.2% from fiscal 2024. Compound annual growth was +11.1% over 5 years. It rose in 3 of the last 7 fiscal years.

OPEN net incomeQ3 2026-$218.00M

OPEN net income was -$218.00M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$90.00M a year earlier. For the full fiscal 2025 it was -$1.30B, compared with -$392.00M in fiscal 2024.

OPEN EPSQ3 2026-$0.23

OPEN diluted EPS was -$0.23 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.12 a year earlier. For the full fiscal 2025 it was -$1.70, compared with -$0.56 in fiscal 2024.

OPEN free cash flowQ3 2026-$836.00M

5Y CAGR
+9.3%

OPEN free cash flow was -$836.00M in fiscal Q3 2026 (ended Sep 30, 2026), compared with $432.00M a year earlier. For the full fiscal 2025 it was $1.04B, compared with -$620.00M in fiscal 2024. Compound annual growth was +9.3% over 5 years.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
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$350.00M$433.00M$487.00M$667.00M$730.00M$220.00M$301.00M$133.43M
Research and development$79.00M$141.00M$167.00M$169.00M$134.00M$56.00M$51.00M$28.46M
Selling, general and admin$238.00M$182.00M$206.00M$346.00M$620.00M$132.00M$114.00M$72.35M
Operating income-$287.00M-$320.00M-$386.00M-$931.00M-$568.00M-$186.00M-$248.00M-$163.67M
Interest expense$131.00M$133.00M$211.00M$385.00M$143.00M$68.00M$110.00M$60.46M
Pre-tax income-$1.30B-$391.00M-$274.00M-$1.35B-$661.00M-$253.00M-$339.00M-$239.55M
Income tax$0$1.00M$1.00M$2.00M$1.00M$0$0$377.0K
Net income-$1.30B-$392.00M-$275.00M-$1.35B-$662.00M-$253.00M-$341.00M-$241.29M
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
Diluted shares766.5M699.5M657.1M627.1M592.6M109.3M80.0M78.6M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Cash and equivalents$962.00M$763.00M$999.00M$1.79B$2.58B$1.51B$685.00M$406.00M
Short-term investments$0$8.00M$69.00M$144.00M$484.00M$48.00M--
Current assets$2.30B$3.00B$3.44B$6.47B$9.34B$2.05B$2.09B-
Goodwill$3.00M$3.00M$4.00M$4.00M$60.00M$31.00M$30.95M-
Total assets$2.41B$3.13B$3.57B$6.61B$9.51B$2.18B$2.23B-
Current liabilities$327.00M$529.00M$70.00M$1.50B$4.40B$393.00M$1.13B-
Short-term debt-----$346.32M$1.07B-
Total debt-----$135.47M--
Total liabilities$1.40B$2.41B$2.60B$5.52B$7.26B$623.00M$1.58B-
Shareholders' equity$1.00B$713.00M$967.00M$1.09B$2.25B$1.55B-$733.00M-$414.00M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Operating cash flow$1.05B-$595.00M$2.34B$730.00M-$5.79B$682.00M-$272.00M-$1.18B
Capital expenditures$12.00M$25.00M$37.00M$37.00M$33.00M$17.00M$28.00M$20.02M
Free cash flow$1.04B-$620.00M$2.31B$693.00M-$5.83B$665.00M-$300.00M-$1.20B
Investing cash flow-$12.00M$28.00M$44.00M$234.00M-$476.00M-$22.00M-$95.00M-$7.43M
Financing cash flow-$499.00M-$210.00M-$2.64B-$1.75B$7.34B$161.00M$646.00M$1.50B
Share repurchases----$0$0$3.00M$37.78M
Stock-based compensation$159.00M$114.00M$126.00M$171.00M$536.00M$38.00M$13.00M$8.42M
Depreciation and amortization$31.00M$33.00M$38.00M$37.00M$27.00M$22.00M$15.00M$4.60M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Revenue growth, YoY-15.2%-25.8%-55.4%94.1%210.5%-45.5%157.9%-
Gross margin8.0%8.4%7.0%4.3%9.1%8.5%6.3%7.3%
Operating margin-6.6%-6.2%-5.6%-6.0%-7.1%-7.2%-5.2%-8.9%
Net margin-29.7%-7.6%-4.0%-8.7%-8.3%-9.8%-7.2%-13.1%
Free cash flow margin23.7%-12.0%33.2%4.5%-72.6%25.7%-6.3%-65.3%
Return on equity-129.4%-55.0%-28.4%-124.6%-29.4%-16.3%--
Return on assets-54.0%-12.5%-7.7%-20.5%-7.0%-11.6%-15.3%-
Current ratio7.035.6749.214.302.125.221.85-
Debt to equity-----0.09--

Source: XBRL data Opendoor Technologies Inc files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

OPEN peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
OPEN$3.36B-28.8%-$1.65B-49.1%$1.31B
OPAD$349.92M-44.3%-$39.69M-11.3%$11.0M
COMP$12.61B+89.8%$133.50M1.1%$8.17B
Z$2.86B+15.1%-$113.00M-4.0%$6.92B

OPEN FAQ

9 questions
  • What is OPEN revenue?
    Opendoor Technologies Inc (OPEN) reported $3.36B of revenue for the twelve months ended Sep 30, 2026. That is down 28.8% from the year before. Revenue for fiscal 2025 was $4.37B.
  • Is OPEN profitable?
    No. Opendoor Technologies Inc reported a net loss of $1.65B for the twelve months ended Sep 30, 2026.
  • How much cash and debt does OPEN have?
    Opendoor Technologies Inc reported $910.00M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is OPEN revenue growing?
    Opendoor Technologies Inc's revenue changed -15.2% in fiscal 2025, to $4.37B. Its compound annual growth rate was +11.1% over 5 years.
  • What is OPEN gross margin?
    Opendoor Technologies Inc's gross profit was $253.00M on $3.36B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 7.5%.
  • What is OPEN free cash flow?
    Opendoor Technologies Inc generated -$1.74B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$1.73B less capital expenditures.
  • What is OPEN earnings per share?
    Diluted earnings per share were -$2.00 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did OPEN last report financial results?
    The latest statements here come from Opendoor Technologies Inc's 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
  • Where does this OPEN financial data come from?
    Quantisnow builds these statements from the structured XBRL data Opendoor Technologies Inc files with the SEC. It is provided for information only and is not investment advice.