Overview
- Quarterly revenue reached $736 million, about 24% above estimates, as adjusted EPS loss of $0.07 topped forecasts.
- Home acquisitions increased 46% quarter over quarter and the share of listings over 120 days fell to 33% from 51%, indicating faster inventory turns.
- Opendoor sold 1,978 homes, beating expectations, generated $67 million in free cash flow, and held fixed operating expenses to $35 million.
- GAAP losses remained steep at roughly $1.1 billion for Q4 and $1.3 billion for 2025, including about $933 million related to debt extinguishment.
- Guidance calls for a Q1 adjusted EBITDA loss of $30–$35 million and about a 10% sequential revenue decline; shares rose roughly 13%–16.5% after the release and JPMorgan raised estimates.