--- title: "Opendoor Tech Series K - CW26 | 8-K: FY2026 Q1 Revenue: USD 720 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285659959.md" datetime: "2026-05-08T03:46:11.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285659959.md) - [en](https://longbridge.com/en/news/285659959.md) - [zh-HK](https://longbridge.com/zh-HK/news/285659959.md) --- # Opendoor Tech Series K - CW26 | 8-K: FY2026 Q1 Revenue: USD 720 M Revenue: As of FY2026 Q1, the actual value is USD 720 M. EPS: As of FY2026 Q1, the actual value is USD -0.18. EBIT: As of FY2026 Q1, the actual value is USD -146 M. ### Financial and Operational Metrics for Opendoor Technologies Inc. (Q1 2026) #### Revenue and Profitability Opendoor Technologies Inc. reported total revenue of $720 million for Q1 2026, a decrease from $1,153 million in Q1 2025 . Gross profit was $72 million (10.0% margin) in Q1 2026, down from $99 million (8.6% margin) in Q1 2025 . The company’s net loss for Q1 2026 was -$173 million (-24.0% margin), an increase from -$85 million (-7.4% margin) in Q1 2025 . Loss from operations widened to -$159 million in Q1 2026, compared to -$56 million in Q1 2025 . #### Non-GAAP Financial Highlights Contribution Profit was $32 million (4.4% margin) in Q1 2026, a decrease from $54 million (4.7% margin) in Q1 2025 . Contribution Profit per Home Sold was $17 thousand in Q1 2026, compared to $18 thousand in Q1 2025 . Adjusted EBITDA was -$31 million (-4.3% margin) in Q1 2026, compared to -$30 million (-2.6% margin) in Q1 2025 . Adjusted Net Loss improved to -$49 million (-6.8% margin) in Q1 2026, from -$63 million (-5.5% margin) in Q1 2025 . Adjusted Gross Profit was $67 million (9.3% margin) in Q1 2026, down from $100 million (8.7% margin) in Q1 2025 . #### Operating Expenses (GAAP) Total operating expenses for Q1 2026 were $231 million, an increase from $155 million in Q1 2025 . Sales, Marketing, and Operations expenses decreased to $70 million in Q1 2026 from $98 million in Q1 2025 . General and Administrative expenses significantly increased to $137 million in Q1 2026 from $33 million in Q1 2025 . Technology and Development expenses rose to $24 million in Q1 2026 from $21 million in Q1 2025 . Restructuring costs were $0 million in Q1 2026, compared to $3 million in Q1 2025 . Fixed operating expenses were $33 million in Q1 2026, down from $39 million in Q1 2025 . The trailing 12-month operations expense as a percentage of revenue held steady at 1.3% quarter-over-quarter . #### Other Income and Expenses Loss (Gain) on Extinguishment of Debt was -$1 million in Q1 2026, compared to $0 million in Q1 2025 . Interest expense decreased to -$23 million in Q1 2026 from -$33 million in Q1 2025 . Other income – net was $10 million in Q1 2026, up from $4 million in Q1 2025 . #### Cash Flow Net cash used in operating activities improved to -$246 million in Q1 2026, from -$279 million in Q1 2025 . Net cash used in investing activities was -$4 million in Q1 2026, compared to net cash provided of $2 million in Q1 2025 . Net cash provided by financing activities decreased to $16 million in Q1 2026 from $207 million in Q1 2025 . The net decrease in cash, cash equivalents, and restricted cash was -$234 million in Q1 2026, compared to -$70 million in Q1 2025 . Cash, cash equivalents, and restricted cash at the end of the period totaled $1,067 million, up from $693 million at the end of Q1 2025 . Cash and cash equivalents stood at $999 million as of March 31, 2026, up from $962 million as of December 31, 2025 . Restricted cash was $68 million as of March 31, 2026, down from $339 million as of December 31, 2025 . #### Operational Metrics (Homes) Opendoor Technologies Inc. sold 1,921 homes in Q1 2026, a decrease from 2,946 homes sold in Q1 2025 . The company purchased 2,474 homes in Q1 2026, down from 3,609 homes in Q1 2025, though homes purchased increased 45% from the prior quarter . Homes in inventory at period end totaled 3,420 in Q1 2026, significantly lower than 7,080 in Q1 2025 . The inventory value at period end was $1,139 million in Q1 2026, a decrease from $2,362 million in Q1 2025 . Real estate inventory, net, was $1,139 million as of March 31, 2026, up from $925 million as of December 31, 2025 . Homes under contract to purchase at period end increased to 1,939 in Q1 2026 from 1,051 in Q1 2025 . The company had over 5,000 acquisition contracts in Q1 2026, which is double the amount from Q4 2025 and the highest level since 2022 . The percentage of aged inventory (homes on the market for greater than 120 days) declined from 33% to 10% quarter-over-quarter, and from 51% in Q3 2025 . #### Balance Sheet Metrics Total current assets were $2,242 million as of March 31, 2026, a decrease from $2,299 million as of December 31, 2025 . Non-Recourse Asset-Backed Debt – Net of current portion was $1,070 million as of March 31, 2026, slightly up from $1,068 million as of December 31, 2025 . #### Outlook / Guidance Opendoor Technologies Inc. aims to achieve Adjusted Net Income positive by the end of 2026, measured on a 12-month go-forward basis . For Q2 2026, the company expects revenue growth of approximately 25% quarter-over-quarter and anticipates Contribution Margin to be in the middle of its 5-7% target range . Opendoor Technologies Inc. also projects to be Adjusted EBITDA breakeven for Q2 2026, plus or minus a few million, and Adjusted EBITDA profitable on a 12-month go-forward basis starting in Q2 2026 . ### Related Stocks - [OPENW.US](https://longbridge.com/en/quote/OPENW.US.md) ## Related News & Research - [17,200 Shares in Eversource Energy $ES Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al](https://longbridge.com/en/news/286670416.md) - [US futures are open for the week's trade, oil up and equites (minor) down](https://longbridge.com/en/news/286683977.md) - [Analysts highlight bank, mid-cap, and small-cap plays for 2026](https://longbridge.com/en/news/286799192.md) - [Toyota and Lexus just made EV road trips way easier](https://longbridge.com/en/news/286120595.md) - [HPE to Present Live Audio Webcast of Fiscal 2026 Second Quarter Earnings Conference Call | HPE Stock News](https://longbridge.com/en/news/285935495.md)