GlobeNewswire·Nov 5, 2026, 4:05 PM ET

Opendoor Reports Third Quarter 2026 Financial Results

Revenue increased 12% year-over-year to $1,022 million for the quarter ended September 30, 2026.
Homes purchased quadrupled to 4,865 from 1,169 in the prior-year quarter.
Trailing-twelve-month marketing expense per acquired home decreased 57% to $2.8 thousand.
Trailing-twelve-month operations expense per acquired home decreased 36% to $4.0 thousand.
Estimated signed-acquisition market share rose to 0.56% from 0.13% compared to Q3 2025.
Homes listed for more than 120 days represented 18% of inventory at period-end, down from 51% a year earlier.
Mortgage originations increased over 400% quarter-over-quarter.
Net loss for the quarter was $218 million, compared to a $90 million loss in Q3 2025.
Contribution profit was $34 million with a contribution margin of 3.3%.
Adjusted EBITDA loss was $31 million, a $2 million improvement year-over-year.
Inventory at period-end reached $2,568 million, reflecting a $1,515 million increase from the prior year.
Fixed operating expenses were $37 million for the quarter.
The company guides for Q4 2026 revenue growth of at least 40% year-over-year.
Q4 2026 Adjusted EBITDA loss is projected to be between $70 million and $85 million.
Adjusted Net Income is targeted to be positive by the end of 2026, though the company is currently behind the goal.