GlobeNewswire·Aug 4, 2026, 4:05 PM ET

Q2 2026 Open House: Everything is Up. More Contracts. More Revenue. More Margin. Except Costs. Those are Down.

Revenue increased 23% quarter-over-quarter to $883 million.
Contribution Profit rose 59% quarter-over-quarter to $51 million.
Contribution Margin expanded 140 basis points both quarter-over-quarter and year-over-year to 5.8%.
Homes purchased increased 77% quarter-over-quarter to 4,378 units.
Inventory Health improved 1% quarter-over-quarter and 27% year-over-year.
Combined Marketing and Operations per acquisition contract reached the lowest level in company history.
Opendoor expects to be Adjusted Net Income positive on a twelve-month go-forward basis by the end of 2026.
The company generated 6,908 acquisition contracts in Q2 2026 with $5 million in marketing spend.
Product, feature, and partnership launches contributed to a decline in the percentage of homes on the market over 120 days from 10% to 9%.
Opendoor expects over half of scheduled resale closes in Colorado to be financed with Opendoor Home Loans.
Fixed operating expenses held steady at $35 million in Q2 2026.
Operations expense per acquisition close decreased to $3.0 thousand in Q2 2026 from $5.0 thousand in Q1 2026.
Q3 2026 outlook projects revenue to increase at least 20% year-over-year.
Q3 2026 outlook expects Contribution Profit dollars to more than double year-over-year.
Q3 2026 outlook projects Contribution Margin to be between 4% and 4.5%.
Q3 2026 outlook expects Stock-Based Compensation to be approximately $110 million.
Adjusted EBITDA is expected to be profitable on a twelve-month go-forward basis as of Q2 2026.