Opendoor (OPEN) Misses Q4 EPS, Revenue Beats

Opendoor (NASDAQ: OPEN) reported Q4 EPS of ($1.26), $1.14 worse than the analyst estimate of ($0.12). Revenue for the quarter came in at $736 million versus the consensus estimate of $576.94 million.

Financial Outlook

We're focused on making the right long-term decisions to rebuild Opendoor rather than managing to short-term guidance. We're making meaningful progress and remain focused on execution. With that context, we want to provide you with the following guideposts:

• We are driving to Adjusted Net Income positive by the end of 2026, measured on a twelve-month go-forward basis.
• Q1 2026 Financial Outlook:
  • Acquisitions: You can track our acquisition contracts on accountable.opendoor.com¹.
  • Revenue: We expect a decrease of approximately 10% quarter-over-quarter.
  • Contribution Margin²: Our contribution margin bottomed out in September and has been improving every month since. We expect to exit Q1 2026 with the highest contribution margin we've posted since Q2 2024.
  • Adjusted EBITDA²: We expect Q1 2026 adjusted EBITDA loss in the low to mid $30 millions.

You can continue to follow our progress on home acquisition contracts and product and feature launches every single week at accountable.opendoor.com.

For earnings history and earnings-related data on Opendoor (OPEN) click here.

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