Opendoor Technologies Inc (OPEN)
NASDAQReal EstateReal Estate - ServicesSnapshot 2026-09-04
$3.15+0.64%
Close 2026-09-04 · 1-day change
NASDAQReal EstateReal Estate - ServicesSnapshot 2026-09-04
QuarterlyIQ Insights · OPEN
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How this business ranks within real estate on a research-validated quality screen. As of 2026-09-04.
The screen ranks OPEN against its sector on four durable signals: share dilution, return on capital, free-cash-flow yield, and FCF margin. Historically the highest-quality names tended toward better typical outcomes and fewer bad years over multi-year holds (strongest at three years, modest at one), and that pattern showed up even before the price moved. It characterizes business quality, not price direction.
Each leg is a sector-relative percentile (higher is better); 2 of 4 legs were available for this name. The composite is built from these four; the raw value follows each percentile for context.
A forward quality tilt, not a price prediction, and context for your own research rather than a recommendation. Not investment advice.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Real Estate names rated weak grew net income 54% of the time over the next year (vs 54% for the rest of the cohort, n=2778).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Achieve Adjusted Net Income profitability on a twelve-month go-forward basis by the end of 2026.
Stated as a priority in 2 of last 2 quarters. Adjusted Net Loss improved from $(49) million in 2026-Q1 to $(30) million in 2026-Q2. Management reiterated the goal to be Adjusted Net Income positive on a twelve-month basis by end of 2026. The trajectory shows progress but profitability is not yet achieved.
“We are driving to Adjusted Net Income positive by the end of 2026, measured on a twelve-month go-forward basis.”
“We are driving to Adjusted Net Income positive by the end of 2026, measured on a 12-month go-forward basis.”
Increase the volume of home acquisitions and acquisition contracts to support growth and profitability.
Stated as a priority in 2 of last 2 quarters. Homes purchased increased 77% quarter-over-quarter from 2,474 in 2026-Q1 to 4,378 in 2026-Q2. Acquisition contracts also increased, with 6,908 contracts in 2026-Q2 versus 5,000+ in 2026-Q1. Management is delivering on scaling acquisitions.
Enhance unit economics and speed of home resale to improve margins and inventory health.
Stated as a priority in 2 of last 2 quarters. The percentage of homes on market over 120 days declined from 10% in 2026-Q1 to 9% in 2026-Q2. Contribution Margin improved from 4.4% to 5.8% over the same period. Management is delivering improvements in unit economics and resale velocity.
“% of homes on market >120 days declined from 10% to 9% quarter-over-quarter.”
Maintain or reduce fixed operating expenses while scaling volumes to improve operating leverage.
Stated as a priority in 2 of last 2 quarters. Fixed operating expenses increased slightly from $33 million in 2026-Q1 to $35 million in 2026-Q2 while volumes scaled. Trailing 12-month operations expense as a percentage of revenue increased modestly. Management is maintaining operating leverage with limited expense growth.
Raise growth capital at favorable terms while reducing shares outstanding through first-ever share repurchase.
Newly stated in 2026-08-13. The company announced a $650 million 0% coupon convertible notes offering and a $158 million share repurchase, reducing shares outstanding by 5%. This is the first share repurchase in company history and aims to enhance capital structure and fund growth with limited dilution.
Over the trailing year it converted 2.72x of net income into operating cash flow.
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to real (inflation-adjusted) rates, the US dollar, Fed net liquidity, long-term interest rates (low R² over the window).
23 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Real Estate names rated volatile grew net income 54% of the time over the next year (vs 51% for the rest of the cohort, n=658).
Not investment advice. As of 2026-09-04.
“Homes purchased increased 77% from prior quarter; 6,908 acquisition contracts in Q2 2026.”
“Homes purchased increased 45% from prior quarter; 5,000+ acquisition contracts in Q1 2026.”
“Contribution Margin improved every month since September 2025; % homes >120 days declined from 33% to 10% quarter-over-quarter.”
“Fixed operating expenses held steady at $35 million in Q2 2026 compared to $33 million in Q1 2026.”
“Fixed operating expenses were $33 million in Q1 2026 compared to $35 million in Q4 2025.”