NASDAQ$OPEN

Opendoor Technologies Inc · Q4 2025 earnings

Q4 2025 earnings · · After market close · Investor relations

Briefing

Opendoor reported Q4 2025, revenue of $736M, net loss of $1.10B, diluted EPS of $-1.26.

For Q4 2025, Opendoor reported revenue of $736M, a net loss of $1.10B, diluted EPS was $-1.26. Management discusses segment performance, capital allocation, and outlook in the earnings release.

  • Revenue $736M.
  • Net loss $1.10B.
  • Diluted EPS $-1.26.

Headline financials

Total Revenue

$736M

Previous: $1.08B-32.1%
EPS (adj)

-$1.26

Previous: -$0.16-687.5%
Gross Margin

7.7%

Previous: 7.8%-1.3%
Homes Sold

2.0K

Previous: 2.8K-29.9%
Homes Purchased

1.7K

Previous: 3.0K-42.2%
Homes in Inventory

2.9K

Previous: 6.4K-55.3%
Inventory Balance

$925M

Previous: $2.16B-57.2%
Contribution Profit

$7M

Previous: $38M-81.6%
Contribution Margin

1.0%

Previous: 3.5%-71.4%
Adjusted EBITDA

-$43M

Previous: -$49M+12.2%
Adjusted EBITDA Margin

-5.8%

Previous: -4.5%-28.9%
Adjusted Net Loss

-$62M

Previous: -$77M+19.5%
% Homes >120 Days

33.0%

Previous: 46.0%-28.3%
Net Income

-$1.1B

Previous: -$113M-869.9%
Operating Income

-$150M

Previous: -$94M-59.6%
Gross Profit

$57M

Previous: $85M-32.9%

Revenue & EPS history

Opendoor · Revenue · Quarterly

$736M

Q4 2025-32.1%vs Q4 2024
Beat estimate in 14 of 15 quarters(93%)
ActualEstimate

Forward guidance

The release discusses Opendoor's outlook for upcoming periods, including capital allocation, operating priorities, and market risks, without relying solely on numeric EPS bridges.

Tailwinds

  • Opendoor cites operational execution and demand trends supporting the outlook.
  • Balance sheet and liquidity actions aim to fund growth and returns.

Headwinds

  • GAAP profitability remained under pressure in Q4 2025.
  • Macro, pricing, and input-cost volatility could pressure margins.
  • Segment mix and one-time items may affect quarter-to-quarter comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

-5.3%

Avg return

Earnings day

-7.8%

Avg return

5 days after

-3.7%

Avg return

30 days after

36%

10 / 28 earnings

Positive

+33.6%

Q1 2023

Best reaction

-25.9%

Q2 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.0%-13.7%-17.3%
Q4 2025-5.8%+7.1%+5.6%
Q3 2025+17.2%+42.8%+9.0%
Q1 2025+24.4%+0.9%-3.0%
Q4 2024-6.3%-14.0%-21.0%
Q3 2024+3.9%-0.6%+23.6%
Q2 2024-19.8%-26.1%-7.3%
Q1 2024+10.5%+12.5%+9.0%
Q4 2023-12.8%-18.6%-22.3%
Q3 2023+10.6%+9.5%+75.7%
Q2 2023-25.9%-25.7%-18.6%
Q1 2023+33.6%+60.4%+85.1%
Q4 2022-13.5%-22.2%-10.3%
Q3 2022-11.8%-28.4%-25.3%
Q2 2022+9.8%+4.2%-21.3%
Q1 2022-16.3%-26.9%-6.2%
Q4 2021-8.5%-10.7%-6.2%
Q3 2021+7.4%+7.4%-28.7%
Q2 2021+21.1%+9.8%+26.3%
Q1 2021-9.5%-9.8%+3.1%
Q2 2019-23.8%-25.0%-24.6%
Q1 2019-23.8%-25.0%-24.6%
Q4 2020-23.8%-25.0%-24.6%
Q4 2019-23.8%-25.0%-24.6%
Q4 2018-23.8%-25.0%-24.6%
Q3 2019-23.8%-25.0%-24.6%
Q2 2020-23.8%-25.0%-24.6%
Q3 2020+11.2%-0.7%+19.1%
Q1 2020
Q1 2014
Q4 2013
Q3 2013
Q2 2013
Q1 2013
Q4 2012
Q3 2012
Q2 2012

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