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Opendoor Technologies Inc Series A Warrant/$OPENL

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About Opendoor Technologies Inc Series A Warrant

Opendoor Technologies Inc is an end-to-end real estate platform enabling customers to sell and buy a home online. Its product offerings include Sell to Opendoor, its core product where sellers sell their homes directly to the company, and it resells those homes to buyers; List with Opendoor, for customers to list their homes with a partner agent; and Opendoor Marketplace, a capital-light marketplace offering that connects home sellers with both institutional and retail buyers. In addition to these products, the company also offers its customers integrated title insurance and escrow services through its subsidiaries. A vast majority of the company's revenue is generated by its core product offering, where it acquires homes directly from sellers and resells those homes to buyers.
Ticker
$OPENL
Sector
Real Estate
Primary listing
NASDAQ
Employees
1,042
Headquarters
Tempe, United States
Website
www.opendoor.com

OPENL Metrics

BasicAdvanced
$2B
-
-$1.72
3.59
-

Bulls say / Bears say

Operational momentum has improved sharply: Q2 homes purchased rose 77% quarter on quarter and 149% year on year, while contribution margin reached 5.8%. Homes listed for more than 120 days fell to 9%, suggesting faster resale and healthier inventory than in earlier periods. (GlobeNewswire, The Motley Fool)
The acquisition engine is becoming more efficient: Opendoor generated 6,908 acquisition contracts in Q2 with only $5 million of marketing spend, while operations cost per acquisition fell to $3,000. If these efficiencies hold, higher transaction volumes could produce operating leverage rather than requiring proportional spending. (GlobeNewswire, The Motley Fool)
Opendoor is adding less capital-intensive revenue streams around its core home transaction. Its Cash Now, More Later marketplace reduces capital at risk per home, while the expanded Opendoor Home Loans product could improve conversion and capture more economics from each buyer transaction. (MarketScreener, GlobeNewswire)
The top line remains under pressure: Q2 revenue fell 43.6% year on year to $883 million, while homes sold dropped to 2,339 from 4,299. Lower opening inventory was a key reason, showing that growth has not yet translated into a consistently larger resale operation. (24/7 Wall St., MarketScreener)
The reported loss is still substantial despite better operating metrics: Opendoor posted a $162 million GAAP net loss in Q2, including $119 million of share-based compensation. That makes the path to value creation less clear for investors who focus on reported earnings rather than adjusted measures. (24/7 Wall St.)
Margins are not yet consistently stable: management expects Q3 contribution margin of about 4% to 4.5%, below Q2's 5.8%, because of normal seasonal weakness. The company's year-end profitability goal is based on adjusted net income, so it still depends on margin improvement and cost control that have not been proven through a full housing cycle. (GlobeNewswire, MarketScreener)
Data summarised monthly by Lightyear AI. Last updated on 21 Sept 2026.

OPENL Financial Performance

Revenues and expenses
Income statement
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
Net income
Profit margin

Funds containing OPENL

Funds
Fund name
Fund size
$OPENL weighting
SPDR MSCI USA Small Cap Value Weighted$USSC
$1.1B0.00%
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