Opendoor Technologies (OPEN) Financials

$2.25 +0.60 (+36.36%)

Closing price 07/18/2025 04:00 PM Eastern

Extended Trading

$2.64 +0.39 (+17.51%)

As of 07/18/2025 08:00 PM Eastern

Annual Income Statements for Opendoor Technologies

This table shows Opendoor Technologies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-241	-341	-253	-662	-1,353	-275	-392
Consolidated Net Income / (Loss)	-240	-339	-253	-662	-1,353	-275	-392
Net Income / (Loss) Continuing Operations	-240	-339	-253	-662	-1,353	-275	-392
Total Pre-Tax Income	-240	-339	-253	-661	-1,351	-274	-391
Total Operating Income	-164	-248	-186	-568	-931	-386	-320
Total Gross Profit	133	301	220	730	667	487	433
Total Revenue	1,838	4,741	2,583	8,021	15,567	6,946	5,153
Operating Revenue	1,838	4,741	2,583	8,021	15,567	6,946	5,153
Total Cost of Revenue	1,705	4,440	2,363	7,291	14,900	6,459	4,720
Operating Cost of Revenue	1,705	4,440	2,363	7,291	14,900	6,459	4,720
Total Operating Expenses	297	549	406	1,298	1,598	873	753
Selling, General & Admin Expense	72	114	132	620	346	206	182
Marketing Expense	196	384	189	544	1,006	486	413
Research & Development Expense	28	51	56	134	169	167	141
Impairment Charge	-	-	0.00	0.00	60	0.00	0.00
Restructuring Charge	-	-	29	0.00	17	14	17
Total Other Income / (Expense), net	-76	-91	-67	-93	-420	112	-71
Interest Expense	60	110	79	143	410	-5.00	135
Other Income / (Expense), net	-15	19	12	50	-10	107	64
Income Tax Expense	0.38	0.00	0.00	1.00	2.00	1.00	1.00
Basic Earnings per Share	($3.16)	($4.26)	($2.31)	($1.12)	($2.16)	($0.42)	($0.56)
Weighted Average Basic Shares Outstanding	78.56M	79.98M	109.30M	592.57M	627.11M	657.11M	699.46M
Diluted Earnings per Share	($3.16)	($4.37)	($2.31)	($1.12)	($2.16)	($0.42)	($0.56)
Weighted Average Diluted Shares Outstanding	78.56M	79.98M	109.30M	592.57M	627.11M	657.11M	699.46M
Weighted Average Basic & Diluted Shares Outstanding	-	-	577.23M	620.13M	642.56M	679.64M	723.52M

This table shows Opendoor Technologies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-928	-399	-101	23	-106	-91	-109	-92	-78	-113	-85
Consolidated Net Income / (Loss)	-928	-399	-101	23	-106	-91	-109	-92	-78	-113	-85
Net Income / (Loss) Continuing Operations	-928	-399	-101	23	-106	-91	-109	-92	-78	-113	-85
Total Pre-Tax Income	-927	-399	-101	24	-106	-91	-109	-91	-78	-113	-85
Total Operating Income	-810	-271	-124	-68	-79	-115	-87	-72	-67	-94	-56
Total Gross Profit	-425	71	170	149	96	72	114	129	105	85	99
Total Revenue	3,361	2,857	3,120	1,976	980	870	1,181	1,511	1,377	1,084	1,153
Operating Revenue	3,361	2,857	3,120	1,976	980	870	1,181	1,511	1,377	1,084	1,153
Total Cost of Revenue	3,786	2,786	2,950	1,827	884	798	1,067	1,382	1,272	999	1,054
Operating Cost of Revenue	3,786	2,786	2,950	1,827	884	798	1,067	1,382	1,272	999	1,054
Total Operating Expenses	385	342	294	217	175	187	201	201	172	179	155
Selling, General & Admin Expense	85	23	66	44	48	48	47	48	46	41	33
Marketing Expense	260	194	188	124	85	89	113	116	96	88	98
Research & Development Expense	40	48	40	39	42	46	41	37	30	33	21
Restructuring Charge	0.00	-	-	10	0.00	-	0.00	0.00	0.00	-	3.00
Total Other Income / (Expense), net	-117	-128	23	92	-27	24	-22	-19	-11	-19	-29
Interest Expense	115	138	-4.00	-51	47	3.00	37	31	34	33	33
Other Income / (Expense), net	-2.00	10	19	41	20	27	15	12	23	14	4.00
Income Tax Expense	1.00	-	0.00	1.00	0.00	-	0.00	1.00	0.00	-	0.00
Basic Earnings per Share	($1.47)	($0.65)	($0.16)	$0.04	($0.16)	($0.14)	($0.16)	($0.13)	($0.11)	($0.16)	($0.12)
Weighted Average Basic Shares Outstanding	629.54M	627.11M	641.92M	646.06M	662.15M	657.11M	682.46M	693.45M	705.36M	699.46M	723.54M
Diluted Earnings per Share	($1.47)	($0.64)	($0.16)	$0.03	($0.16)	($0.13)	($0.16)	($0.13)	($0.11)	($0.16)	($0.12)
Weighted Average Diluted Shares Outstanding	629.54M	627.11M	641.92M	667.16M	662.15M	657.11M	682.46M	693.45M	705.36M	699.46M	723.54M
Weighted Average Basic & Diluted Shares Outstanding	634.20M	642.56M	648.78M	659.20M	670.03M	679.64M	691.58M	703.00M	715.07M	723.52M	728.90M

This table details how cash moves in and out of Opendoor Technologies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	309	279	821	1,072	-787	-251	-777
Net Cash From Operating Activities	-1,180	-272	682	-5,794	730	2,344	-595
Net Cash From Continuing Operating Activities	-1,180	-272	682	-5,794	730	2,344	-595
Net Income / (Loss) Continuing Operations	-240	-339	-253	-662	-1,353	-275	-392
Consolidated Net Income / (Loss)	-240	-339	-253	-662	-1,353	-275	-392
Depreciation Expense	13	27	39	47	83	65	48
Amortization Expense	0.00	12	24	8.00	7.00	7.00	5.00
Non-Cash Adjustments To Reconcile Net Income	-964	40	26	463	1,092	-2.00	169
Changes in Operating Assets and Liabilities, net	11	-12	846	-5,650	901	2,549	-425
Net Cash From Investing Activities	-7.43	-95	-22	-476	234	44	28
Net Cash From Continuing Investing Activities	-7.43	-95	-22	-476	234	44	28
Purchase of Property, Plant & Equipment	-20	-28	-17	-33	-37	-37	-25
Acquisitions	-4.86	-33	0.00	-34	-10	0.00	-2.00
Purchase of Investments	-23	-79	-175	-486	-28	0.00	0.00
Sale and/or Maturity of Investments	40	45	170	92	331	80	55
Other Investing Activities, net	-	-	0.00	-15	-22	1.00	0.00
Net Cash From Financing Activities	1,496	646	161	7,342	-1,751	-2,639	-210
Net Cash From Continuing Financing Activities	1,496	646	159	7,342	-1,751	-2,639	-212
Repayment of Debt	-1,185	-3,511	-2,254	-6,077	-11,979	-2,882	-715
Issuance of Debt	2,014	3,842	1,434	12,644	10,222	238	498
Issuance of Common Equity	0.00	0.00	0.00	886	2.00	2.00	5.00
Other Financing Activities, net	6.89	3.00	1,022	-82	4.00	3.00	0.00
Cash Interest Paid	45	86	57	122	355	203	121

This table details how cash moves in and out of Opendoor Technologies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	225	-1,288	867	146	-426	-838	-254	-375	143	-291	-70
Net Cash From Operating Activities	-322	1,395	2,162	940	-216	-542	-178	-399	62	-80	-279
Net Cash From Continuing Operating Activities	-322	1,395	2,162	940	-216	-542	-178	-399	62	-80	-279
Net Income / (Loss) Continuing Operations	-928	-399	-101	23	-106	-91	-109	-92	-78	-113	-85
Consolidated Net Income / (Loss)	-928	-399	-101	23	-106	-91	-109	-92	-78	-113	-85
Depreciation Expense	21	24	22	17	11	15	14	12	11	11	10
Amortization Expense	2.00	1.00	2.00	2.00	1.00	2.00	2.00	1.00	1.00	1.00	1.00
Non-Cash Adjustments To Reconcile Net Income	551	275	-25	-46	61	8.00	36	61	33	39	16
Changes in Operating Assets and Liabilities, net	32	1,494	2,264	944	-183	-476	-121	-381	95	-18	-221
Net Cash From Investing Activities	27	24	30	15	3.00	-4.00	22	9.00	-	-3.00	2.00
Net Cash From Continuing Investing Activities	27	24	30	15	3.00	-4.00	22	9.00	-	-3.00	2.00
Purchase of Property, Plant & Equipment	-13	-4.00	-8.00	-9.00	-11	-9.00	-8.00	-8.00	-6.00	-3.00	-4.00
Sale and/or Maturity of Investments	43	35	38	23	14	5.00	30	17	8.00	-	6.00
Net Cash From Financing Activities	520	-2,707	-1,325	-809	-213	-292	-98	15	81	-208	207
Net Cash From Continuing Financing Activities	520	-2,707	-1,325	-809	-213	-292	-98	15	81	-210	207
Repayment of Debt	-2,044	-3,655	-1,551	-822	-216	-293	-100	-202	-122	-291	-370
Issuance of Debt	2,561	948	224	12	2.00	-	0.00	217	200	81	576
Issuance of Common Equity	2.00	-	1.00	-	1.00	-	2.00	-	3.00	-	1.00
Cash Interest Paid	103	107	74	52	43	34	34	28	31	28	31

This table presents Opendoor Technologies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	2,232	2,176	9,506	6,608	3,567	3,126
Total Current Assets	2,088	2,053	9,340	6,466	3,445	2,997
Cash & Equivalents	405	1,413	1,731	1,137	999	671
Restricted Cash	280	93	847	654	541	92
Short-Term Investments	44	48	484	144	69	8.00
Inventories, net	1,312	466	6,096	4,460	1,775	2,159
Other Current Assets	45	25	175	71	61	67
Plant, Property, & Equipment, net	35	29	45	58	66	48
Total Noncurrent Assets	109	94	121	84	56	81
Goodwill	31	31	60	4.00	4.00	3.00
Other Noncurrent Operating Assets	66	54	49	68	47	78
Total Liabilities & Shareholders' Equity	2,232	2,176	9,506	6,608	3,567	3,126
Total Liabilities	1,583	623	7,258	5,522	2,600	2,413
Total Current Liabilities	1,126	393	4,400	1,505	70	529
Short-Term Debt	1,074	346	4,247	1,376	0.00	432
Accounts Payable	33	25	137	110	64	92
Other Current Liabilities	13	21	4.00	7.00	5.00	2.00
Other Current Nonoperating Liabilities	5.81	1.00	12	12	1.00	3.00
Total Noncurrent Liabilities	457	230	2,858	4,017	2,530	1,884
Long-Term Debt	362	136	2,816	3,979	2,510	1,870
Capital Lease Obligations	48	47	-	38	19	13
Other Noncurrent Operating Liabilities	46	47	42	0.00	1.00	1.00
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-733	1,553	2,248	1,086	967	713
Total Preferred & Common Equity	-733	1,553	2,248	1,086	967	713
Total Common Equity	-733	1,553	2,248	1,086	967	713
Common Stock	57	2,596	3,955	4,148	4,301	4,438
Retained Earnings	-790	-1,043	-1,705	-3,058	-3,333	-3,725
Accumulated Other Comprehensive Income / (Loss)	0.02	0.00	-2.00	-4.00	-1.00	0.00

This table presents Opendoor Technologies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	9,784	5,112	4,223	3,947	3,404	3,372	3,411	3,277
Total Current Assets	9,584	4,972	4,093	3,819	3,284	3,249	3,263	3,152
Cash & Equivalents	1,327	1,143	1,120	1,154	953	790	829	559
Restricted Cash	1,752	1,515	1,684	1,224	333	121	225	134
Short-Term Investments	178	108	90	72	37	19	8.00	0.00
Inventories, net	6,093	2,118	1,149	1,311	1,881	2,234	2,145	2,362
Other Current Assets	234	88	50	58	80	85	56	97
Plant, Property, & Equipment, net	62	59	62	68	66	71	59	44
Total Noncurrent Assets	138	81	68	60	54	52	89	81
Goodwill	62	4.00	4.00	4.00	4.00	4.00	3.00	3.00
Other Noncurrent Operating Assets	69	66	55	49	46	46	86	78
Total Liabilities & Shareholders' Equity	9,784	5,112	4,223	3,947	3,404	3,372	3,411	3,277
Total Liabilities	8,296	4,076	3,137	2,927	2,505	2,527	2,610	2,632
Total Current Liabilities	3,601	443	88	74	74	393	721	1,053
Short-Term Debt	3,372	355	15	0.00	-	315	643	946
Accounts Payable	209	77	65	67	69	73	71	102
Other Current Liabilities	6.00	7.00	7.00	6.00	4.00	4.00	4.00	2.00
Other Current Nonoperating Liabilities	14	4.00	1.00	1.00	1.00	1.00	3.00	3.00
Total Noncurrent Liabilities	4,695	3,633	3,049	2,853	2,431	2,134	1,889	1,579
Long-Term Debt	4,656	3,598	3,028	2,832	2,412	2,116	1,868	1,565
Capital Lease Obligations	-	-	21	20	18	18	19	13
Other Noncurrent Operating Liabilities	39	35	-	1.00	1.00	0.00	2.00	1.00
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,488	1,036	1,086	1,020	899	845	801	645
Total Preferred & Common Equity	1,488	1,036	1,086	1,020	899	845	801	645
Total Common Equity	1,488	1,036	1,086	1,020	899	845	801	645
Common Stock	4,152	4,198	4,224	4,263	4,341	4,379	4,413	4,455
Retained Earnings	-2,659	-3,159	-3,136	-3,242	-3,442	-3,534	-3,612	-3,810
Accumulated Other Comprehensive Income / (Loss)	-5.00	-3.00	-2.00	-1.00	0.00	0.00	0.00	0.00

This table displays calculated financial ratios and metrics derived from Opendoor Technologies' official financial filings.

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	157.93%	-45.52%	210.53%	94.08%	-55.38%	-25.81%
EBITDA Growth	0.00%	-14.24%	41.58%	-317.12%	-83.80%	75.68%	1.93%
EBIT Growth	0.00%	-27.86%	24.02%	-197.70%	-81.66%	70.35%	8.24%
NOPAT Growth	0.00%	-51.52%	25.00%	-205.38%	-63.91%	58.54%	17.10%
Net Income Growth	0.00%	-41.29%	25.37%	-161.66%	-104.38%	79.67%	-42.55%
EPS Growth	0.00%	-38.29%	47.14%	51.52%	-92.86%	80.56%	-33.33%
Operating Cash Flow Growth	0.00%	76.94%	350.74%	-949.56%	112.60%	221.10%	-125.38%
Free Cash Flow Firm Growth	0.00%	0.00%	147.86%	-910.70%	117.16%	127.65%	-124.86%
Invested Capital Growth	0.00%	0.00%	-63.00%	1,101.73%	-27.23%	-58.56%	19.70%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	80.34%	-5.84%	-22.24%	4.33%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-19.71%	-19.19%	44.35%	1.46%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-19.72%	-17.92%	38.27%	3.03%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-6.72%	-22.18%	28.78%	6.16%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-26.09%	-18.17%	52.83%	-5.95%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-38.27%	-18.03%	54.84%	-5.66%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	7.43%	231.53%	-45.25%	43.71%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	386.11%	-46.37%	45.21%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-2.75%	-27.37%	32.68%	-0.53%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	7.26%	6.35%	8.52%	9.10%	4.28%	7.01%	8.40%
EBITDA Margin	-9.05%	-4.01%	-4.30%	-5.77%	-5.47%	-2.98%	-3.94%
Operating Margin	-8.90%	-5.23%	-7.20%	-7.08%	-5.98%	-5.56%	-6.21%
EBIT Margin	-9.74%	-4.83%	-6.74%	-6.46%	-6.04%	-4.02%	-4.97%
Profit (Net Income) Margin	-13.05%	-7.15%	-9.79%	-8.25%	-8.69%	-3.96%	-7.61%
Tax Burden Percent	100.16%	100.00%	100.00%	100.15%	100.15%	100.37%	100.26%
Interest Burden Percent	133.76%	148.03%	145.40%	127.61%	143.57%	98.21%	152.73%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-24.65%	-13.50%	-11.73%	-12.05%	-8.39%	-10.80%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-68.19%	76.76%	-29.46%	-30.79%	-8.60%	-24.41%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-79.91%	-9.49%	-23.11%	-69.11%	-18.40%	-35.87%
Return on Equity (ROE)	0.00%	-104.57%	-22.99%	-34.83%	-81.16%	-26.79%	-46.67%
Cash Return on Invested Capital (CROIC)	0.00%	-224.65%	78.48%	-181.00%	19.47%	74.42%	-28.74%
Operating Return on Assets (OROA)	0.00%	-10.26%	-7.90%	-8.87%	-11.68%	-5.48%	-7.65%
Return on Assets (ROA)	0.00%	-15.19%	-11.48%	-11.33%	-16.79%	-5.41%	-11.71%
Return on Common Equity (ROCE)	0.00%	118.23%	-8.56%	-34.83%	-81.16%	-26.79%	-46.67%
Return on Equity Simple (ROE_SIMPLE)	0.00%	46.24%	-16.29%	-29.45%	-124.59%	-28.44%	-54.98%
Net Operating Profit after Tax (NOPAT)	-115	-174	-130	-398	-652	-270	-224
NOPAT Margin	-6.23%	-3.66%	-5.04%	-4.96%	-4.19%	-3.89%	-4.35%
Net Nonoperating Expense Percent (NNEP)	0.00%	43.53%	-90.25%	17.74%	18.74%	0.22%	13.61%
Return On Investment Capital (ROIC_SIMPLE)	-	-23.10%	-6.25%	-4.27%	-10.06%	-7.73%	-7.40%
Cost of Revenue to Revenue	92.74%	93.65%	91.48%	90.90%	95.72%	92.99%	91.60%
SG&A Expenses to Revenue	3.94%	2.40%	5.11%	7.73%	2.22%	2.97%	3.53%
R&D to Revenue	1.55%	1.08%	2.17%	1.67%	1.09%	2.40%	2.74%
Operating Expenses to Revenue	16.16%	11.58%	15.72%	16.18%	10.27%	12.57%	14.61%
Earnings before Interest and Taxes (EBIT)	-179	-229	-174	-518	-941	-279	-256
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-166	-190	-111	-463	-851	-207	-203
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.76	3.98	0.68	3.10	1.60
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.78	4.11	0.69	3.13	1.61
Price to Revenue (P/Rev)	0.16	0.06	0.46	1.12	0.05	0.43	0.22
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	1.73	0.29	2.07	0.92	2.08	1.19
Enterprise Value to Revenue (EV/Rev)	0.00	0.51	0.06	1.61	0.27	0.56	0.52
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.22	0.00	5.74	1.67	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.20	0.00	3.98	1.64	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	2.29	0.34	3.14	4.97	2.62	3.25
Long-Term Debt to Equity	0.00	0.63	0.12	1.25	3.70	2.62	2.64
Financial Leverage	0.00	1.17	-0.12	0.78	2.24	2.14	1.47
Leverage Ratio	0.00	3.44	2.00	3.07	4.83	4.96	3.98
Compound Leverage Factor	0.00	5.10	2.91	3.92	6.94	4.87	6.08
Debt to Total Capital	0.00%	69.60%	25.41%	75.86%	83.24%	72.34%	76.45%
Short-Term Debt to Total Capital	0.00%	50.36%	16.62%	45.61%	21.24%	0.00%	14.27%
Long-Term Debt to Total Capital	0.00%	19.24%	8.79%	30.24%	62.00%	72.34%	62.19%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	64.77%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-34.37%	74.59%	24.14%	16.76%	27.66%	23.55%
Debt to EBITDA	0.00	-7.81	-4.77	-15.25	-6.34	-12.22	-11.40
Net Debt to EBITDA	0.00	-3.98	9.23	-8.64	-4.06	-4.44	-7.61
Long-Term Debt to EBITDA	0.00	-2.16	-1.65	-6.08	-4.72	-12.22	-9.28
Debt to NOPAT	0.00	-8.55	-4.06	-17.76	-8.28	-9.36	-10.33
Net Debt to NOPAT	0.00	-4.36	7.87	-10.06	-5.31	-3.40	-6.89
Long-Term Debt to NOPAT	0.00	-2.36	-1.41	-7.08	-6.16	-9.36	-8.41
Altman Z-Score	0.00	1.92	2.30	1.78	2.22	2.21	0.94
Noncontrolling Interest Sharing Ratio	0.00%	213.06%	62.76%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	1.85	5.22	2.12	4.30	49.21	5.67
Quick Ratio	0.00	0.40	3.72	0.51	0.85	15.26	1.28
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-1,582	757	-6,138	1,053	2,398	-596
Operating Cash Flow to CapEx	-5,891.70%	-971.43%	4,011.76%	-17,557.58%	1,972.97%	6,335.14%	-2,380.00%
Free Cash Flow to Firm to Interest Expense	0.00	-14.38	9.58	-42.92	2.57	0.00	-4.41
Operating Cash Flow to Interest Expense	-19.51	-2.47	8.63	-40.52	1.78	0.00	-4.41
Operating Cash Flow Less CapEx to Interest Expense	-19.84	-2.73	8.42	-40.75	1.69	0.00	-4.59
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	2.12	1.17	1.37	1.93	1.37	1.54
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	3.38	2.66	2.22	2.82	2.07	2.40
Fixed Asset Turnover	0.00	137.00	81.22	216.78	302.27	112.03	90.40
Accounts Payable Turnover	0.00	134.64	81.52	90.01	120.65	74.24	60.51
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	107.89	137.35	164.25	129.29	176.17	152.11
Days Payable Outstanding (DPO)	0.00	2.71	4.48	4.06	3.03	4.92	6.03
Cash Conversion Cycle (CCC)	0.00	105.18	132.87	160.20	126.27	171.25	146.08
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	1,408	521	6,261	4,556	1,888	2,260
Invested Capital Turnover	0.00	6.73	2.68	2.37	2.88	2.16	2.48
Increase / (Decrease) in Invested Capital	0.00	1,408	-887	5,740	-1,705	-2,668	372
Enterprise Value (EV)	0.00	2,438	151	12,951	4,194	3,922	2,688
Market Capitalization	300	300	1,176	8,950	736	3,002	1,144
Book Value per Share	$0.00	($9.17)	$30.01	$3.67	$1.71	$1.44	$1.00
Tangible Book Value per Share	$0.00	($9.71)	$29.24	$3.55	$1.69	$1.43	$0.99
Total Capital	0.00	2,133	2,082	9,311	6,479	3,496	3,028
Total Debt	0.00	1,485	529	7,063	5,393	2,529	2,315
Total Long-Term Debt	0.00	410	183	2,816	4,017	2,529	1,883
Net Debt	0.00	756	-1,025	4,001	3,458	920	1,544
Capital Expenditures (CapEx)	20	28	17	33	37	37	25
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	1,307	452	6,125	4,402	1,766	2,129
Debt-free Net Working Capital (DFNWC)	0.00	2,035	2,006	9,187	6,337	3,375	2,900
Net Working Capital (NWC)	0.00	961	1,660	4,940	4,961	3,375	2,468
Net Nonoperating Expense (NNE)	125	165	123	264	701	4.80	168
Net Nonoperating Obligations (NNO)	0.00	760	-1,032	4,013	3,470	921	1,547
Total Depreciation and Amortization (D&A)	13	39	63	55	90	72	53
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	27.57%	17.50%	76.36%	28.28%	25.42%	41.32%
Debt-free Net Working Capital to Revenue	0.00%	42.93%	77.66%	114.54%	40.71%	48.59%	56.28%
Net Working Capital to Revenue	0.00%	20.28%	64.27%	61.59%	31.87%	48.59%	47.89%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($2.62)	($1.12)	($2.16)	($0.42)	($0.56)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	109.30M	592.57M	627.11M	657.11M	699.46M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($2.62)	($1.12)	($2.16)	($0.42)	($0.56)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	109.30M	592.57M	627.11M	657.11M	699.46M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	577.23M	620.13M	642.56M	679.64M	723.52M
Normalized Net Operating Profit after Tax (NOPAT)	-115	-174	-110	-398	-598	-260	-212
Normalized NOPAT Margin	-6.23%	-3.66%	-4.25%	-4.96%	-3.84%	-3.75%	-4.12%
Pre Tax Income Margin	-13.03%	-7.15%	-9.79%	-8.24%	-8.68%	-3.94%	-7.59%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	-2.96	-2.08	-2.20	-3.62	-2.30	0.00	-1.90
NOPAT to Interest Expense	-1.90	-1.58	-1.65	-2.78	-1.59	0.00	-1.66
EBIT Less CapEx to Interest Expense	-3.29	-2.34	-2.42	-3.85	-2.39	0.00	-2.08
NOPAT Less CapEx to Interest Expense	-2.23	-1.83	-1.86	-3.01	-1.68	0.00	-1.84
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	-0.89%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-16.34%	-1.77%	-17.00%	-4.38%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Opendoor Technologies' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	48.32%	-25.25%	-39.43%	-52.93%	-70.84%	-69.55%	-62.15%	-23.53%	40.51%	24.60%	-2.37%
EBITDA Growth	-78,800.00%	-138.38%	-169.83%	-113.79%	94.04%	69.92%	30.86%	-487.50%	31.91%	4.23%	26.79%
EBIT Growth	-6,146.15%	-121.19%	-209.38%	-175.00%	92.73%	66.28%	31.43%	-122.22%	25.42%	9.09%	27.78%
NOPAT Growth	-1,073.91%	-165.69%	-173.56%	-390.92%	90.25%	57.56%	29.84%	22.66%	15.19%	18.26%	35.63%
Net Income Growth	-1,528.07%	-108.90%	-460.71%	142.59%	88.58%	77.19%	-7.92%	-500.00%	26.42%	-24.18%	22.02%
EPS Growth	-1,533.33%	-106.45%	-500.00%	133.33%	89.12%	79.69%	0.00%	-533.33%	31.25%	-23.08%	25.00%
Operating Cash Flow Growth	91.04%	1,168.18%	39.48%	149.66%	32.92%	-138.85%	-108.23%	-142.45%	128.70%	85.24%	-56.74%
Free Cash Flow Firm Growth	93.41%	126.07%	165.96%	238.25%	1,293.45%	70.76%	-93.78%	-121.09%	-118.69%	-116.92%	-421.31%
Invested Capital Growth	-2.57%	-27.23%	-54.28%	-81.56%	-77.32%	-58.56%	-9.88%	88.15%	59.66%	19.70%	23.52%
Revenue Q/Q Growth	-19.94%	-15.00%	9.21%	-36.67%	-50.40%	-11.22%	35.75%	27.94%	-8.87%	-21.28%	6.37%
EBITDA Q/Q Growth	-1,460.34%	70.09%	65.68%	90.12%	-487.50%	-51.06%	21.13%	16.07%	31.91%	-112.50%	39.71%
EBIT Q/Q Growth	-2,355.56%	67.86%	59.77%	74.29%	-118.52%	-49.15%	18.18%	16.67%	26.67%	-81.82%	35.00%
NOPAT Q/Q Growth	-2,631.25%	66.54%	54.24%	24.92%	15.14%	-45.57%	24.35%	17.24%	6.94%	-40.30%	40.43%
Net Income Q/Q Growth	-1,618.52%	57.00%	74.69%	122.77%	-560.87%	14.15%	-19.78%	15.60%	15.22%	-44.87%	24.78%
EPS Q/Q Growth	-1,533.33%	56.46%	75.00%	118.75%	-633.33%	18.75%	-23.08%	18.75%	15.38%	-45.45%	25.00%
Operating Cash Flow Q/Q Growth	82.99%	533.23%	54.98%	-56.52%	-122.98%	-150.93%	67.16%	-124.16%	115.54%	-229.03%	-248.75%
Free Cash Flow Firm Q/Q Growth	89.89%	477.17%	68.76%	114.80%	-12.71%	-46.03%	-93.85%	-828.10%	22.66%	51.13%	-16.77%
Invested Capital Q/Q Growth	-7.95%	-27.37%	-51.12%	-43.56%	13.21%	32.68%	6.30%	17.84%	-3.93%	-0.53%	9.69%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	-12.65%	2.49%	5.45%	7.54%	9.80%	8.28%	9.65%	8.54%	7.63%	7.84%	8.59%
EBITDA Margin	-23.48%	-8.26%	-2.60%	-0.40%	-4.80%	-8.16%	-4.74%	-3.11%	-2.32%	-6.27%	-3.56%
Operating Margin	-24.10%	-9.49%	-3.97%	-3.44%	-8.06%	-13.22%	-7.37%	-4.77%	-4.87%	-8.67%	-4.86%
EBIT Margin	-24.16%	-9.14%	-3.37%	-1.37%	-6.02%	-10.11%	-6.10%	-3.97%	-3.20%	-7.38%	-4.51%
Profit (Net Income) Margin	-27.61%	-13.97%	-3.24%	1.16%	-10.82%	-10.46%	-9.23%	-6.09%	-5.66%	-10.42%	-7.37%
Tax Burden Percent	100.11%	100.00%	100.00%	95.83%	100.00%	100.00%	100.00%	101.10%	100.00%	100.00%	100.00%
Interest Burden Percent	114.16%	152.87%	96.19%	-88.89%	179.66%	103.41%	151.39%	151.67%	177.27%	141.25%	163.46%
Effective Tax Rate	0.00%	0.00%	0.00%	4.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-43.88%	-19.11%	-10.61%	-9.24%	-13.10%	-19.95%	-12.20%	-8.37%	-9.11%	-15.08%	-7.77%
ROIC Less NNEP Spread (ROIC-NNEP)	-52.03%	-24.71%	-11.38%	-5.44%	-15.05%	-20.43%	-16.38%	-13.29%	-12.42%	-18.91%	-10.88%
Return on Net Nonoperating Assets (RNNOA)	-119.72%	-55.45%	-12.49%	-7.31%	-31.14%	-43.69%	-19.46%	-11.63%	-12.79%	-27.77%	-20.73%
Return on Equity (ROE)	-163.60%	-74.56%	-23.10%	-16.56%	-44.24%	-63.63%	-31.66%	-20.00%	-21.89%	-42.86%	-28.50%
Cash Return on Invested Capital (CROIC)	-5.79%	19.47%	51.36%	115.63%	116.18%	74.42%	-1.15%	-74.83%	-58.87%	-28.74%	-30.06%
Operating Return on Assets (OROA)	-42.60%	-17.65%	-6.81%	-2.15%	-7.83%	-13.81%	-7.17%	-4.75%	-4.29%	-11.36%	-6.92%
Return on Assets (ROA)	-48.68%	-26.98%	-6.55%	1.83%	-14.07%	-14.28%	-10.85%	-7.28%	-7.60%	-16.05%	-11.31%
Return on Common Equity (ROCE)	-163.60%	-74.56%	-23.10%	-16.56%	-44.24%	-63.63%	-31.66%	-20.00%	-21.89%	-42.86%	-28.50%
Return on Equity Simple (ROE_SIMPLE)	-76.95%	0.00%	-143.05%	-129.37%	-57.16%	0.00%	-31.48%	-47.10%	-46.19%	0.00%	-57.05%
Net Operating Profit after Tax (NOPAT)	-567	-190	-87	-65	-55	-81	-61	-50	-47	-66	-39
NOPAT Margin	-16.87%	-6.64%	-2.78%	-3.30%	-5.64%	-9.25%	-5.16%	-3.34%	-3.41%	-6.07%	-3.40%
Net Nonoperating Expense Percent (NNEP)	8.15%	5.59%	0.76%	-3.81%	1.95%	0.48%	4.18%	4.92%	3.32%	3.83%	3.11%
Return On Investment Capital (ROIC_SIMPLE)	-5.96%	-2.93%	-1.74%	-1.57%	-1.43%	-2.30%	-1.83%	-1.53%	-1.41%	-2.17%	-1.24%
Cost of Revenue to Revenue	112.65%	97.51%	94.55%	92.46%	90.20%	91.72%	90.35%	91.46%	92.37%	92.16%	91.41%
SG&A Expenses to Revenue	2.53%	0.81%	2.12%	2.23%	4.90%	5.52%	3.98%	3.18%	3.34%	3.78%	2.86%
R&D to Revenue	1.19%	1.68%	1.28%	1.97%	4.29%	5.29%	3.47%	2.45%	2.18%	3.04%	1.82%
Operating Expenses to Revenue	11.45%	11.97%	9.42%	10.98%	17.86%	21.49%	17.02%	13.30%	12.49%	16.51%	13.44%
Earnings before Interest and Taxes (EBIT)	-812	-261	-105	-27	-59	-88	-72	-60	-44	-80	-52
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-789	-236	-81	-8.00	-47	-71	-56	-47	-32	-68	-41
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.31	0.68	1.09	2.40	1.71	3.10	2.26	1.51	1.76	1.60	1.14
Price to Tangible Book Value (P/TBV)	1.38	0.69	1.11	2.43	1.72	3.13	2.28	1.52	1.76	1.61	1.15
Price to Revenue (P/Rev)	0.12	0.05	0.08	0.23	0.19	0.43	0.41	0.28	0.28	0.22	0.14
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.07	0.92	1.04	2.21	1.51	2.08	1.56	1.18	1.27	1.19	1.04
Enterprise Value to Revenue (EV/Rev)	0.41	0.27	0.17	0.25	0.24	0.56	0.63	0.61	0.58	0.52	0.50
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	5.74	1.73	0.67	0.50	1.67	784.30	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	3.98	1.27	0.60	0.48	1.64	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	5.40	4.97	3.82	2.82	2.80	2.62	2.70	2.90	3.16	3.25	3.91
Long-Term Debt to Equity	3.13	3.70	3.47	2.81	2.80	2.62	2.70	2.53	2.36	2.64	2.45
Financial Leverage	2.30	2.24	1.10	1.35	2.07	2.14	1.19	0.88	1.03	1.47	1.91
Leverage Ratio	4.87	4.83	3.96	4.17	5.47	4.96	4.40	3.93	4.04	3.98	4.33
Compound Leverage Factor	5.56	7.39	3.81	-3.71	9.84	5.13	6.66	5.97	7.16	5.63	7.07
Debt to Total Capital	84.36%	83.24%	79.23%	73.83%	73.66%	72.34%	72.99%	74.35%	75.95%	76.45%	79.65%
Short-Term Debt to Total Capital	35.44%	21.24%	7.12%	0.36%	0.00%	0.00%	0.00%	9.56%	19.30%	14.27%	29.85%
Long-Term Debt to Total Capital	48.93%	62.00%	72.12%	73.47%	73.66%	72.34%	72.99%	64.78%	56.65%	62.19%	49.79%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	15.64%	16.76%	20.77%	26.17%	26.34%	27.66%	27.01%	25.65%	24.05%	23.55%	20.35%
Debt to EBITDA	-11.24	-6.34	-3.77	-2.75	-7.67	-12.22	-13.35	-11.08	-12.28	-11.40	-13.43
Net Debt to EBITDA	-6.68	-4.06	-1.13	-0.15	-1.08	-4.44	-6.08	-6.87	-7.13	-7.61	-9.74
Long-Term Debt to EBITDA	-6.52	-4.72	-3.43	-2.74	-7.67	-12.22	-13.35	-9.66	-9.16	-9.28	-8.39
Debt to NOPAT	-15.05	-8.28	-4.81	-3.44	-7.52	-9.36	-9.95	-9.91	-10.60	-10.33	-12.48
Net Debt to NOPAT	-8.94	-5.31	-1.45	-0.19	-1.06	-3.40	-4.53	-6.15	-6.15	-6.89	-9.05
Long-Term Debt to NOPAT	-8.73	-6.16	-4.38	-3.42	-7.52	-9.36	-9.95	-8.64	-7.91	-8.41	-7.80
Altman Z-Score	1.91	2.56	2.94	3.26	2.56	2.39	1.60	1.14	1.14	1.13	0.82
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.66	4.30	11.22	46.51	51.61	49.21	44.38	8.27	4.53	5.67	2.99
Quick Ratio	0.42	0.85	2.82	13.75	16.57	15.26	13.38	2.06	1.16	1.28	0.53
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-402	1,515	2,557	5,493	4,795	2,588	159	-1,158	-896	-438	-511
Operating Cash Flow to CapEx	-2,476.92%	34,875.00%	27,025.00%	10,444.44%	-1,963.64%	-6,022.22%	-2,225.00%	-4,987.50%	1,033.33%	-2,666.67%	-6,975.00%
Free Cash Flow to Firm to Interest Expense	-3.49	10.98	0.00	0.00	102.01	862.50	4.30	-37.37	-26.35	-13.27	-15.49
Operating Cash Flow to Interest Expense	-2.80	10.11	0.00	0.00	-4.60	-180.67	-4.81	-12.87	1.82	-2.42	-8.45
Operating Cash Flow Less CapEx to Interest Expense	-2.91	10.08	0.00	0.00	-4.83	-183.67	-5.03	-13.13	1.65	-2.52	-8.58
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.76	1.93	2.02	1.58	1.30	1.37	1.18	1.20	1.34	1.54	1.53
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	2.53	2.82	3.90	2.92	2.28	2.07	2.29	2.44	2.62	2.40	2.22
Fixed Asset Turnover	329.58	302.27	250.67	195.07	137.43	112.03	80.11	68.30	77.78	90.40	93.18
Accounts Payable Turnover	85.82	120.65	126.64	81.06	61.21	74.24	62.68	59.87	65.49	60.51	55.05
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	144.02	129.29	93.53	125.06	159.97	176.17	159.49	149.45	139.57	152.11	164.51
Days Payable Outstanding (DPO)	4.25	3.03	2.88	4.50	5.96	4.92	5.82	6.10	5.57	6.03	6.63
Cash Conversion Cycle (CCC)	139.77	126.27	90.64	120.56	154.00	171.25	153.67	143.36	134.00	146.08	157.88
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,273	4,556	2,227	1,257	1,423	1,888	2,007	2,365	2,272	2,260	2,479
Invested Capital Turnover	2.60	2.88	3.81	2.80	2.32	2.16	2.37	2.51	2.67	2.48	2.28
Increase / (Decrease) in Invested Capital	-165	-1,705	-2,644	-5,558	-4,850	-2,668	-220	1,108	849	372	472
Enterprise Value (EV)	6,727	4,194	2,318	2,778	2,142	3,922	3,137	2,791	2,874	2,688	2,569
Market Capitalization	1,956	736	1,131	2,608	1,740	3,002	2,030	1,272	1,406	1,144	738
Book Value per Share	$2.37	$1.71	$1.61	$1.67	$1.55	$1.44	$1.32	$1.22	$1.14	$1.00	$0.89
Tangible Book Value per Share	$2.26	$1.69	$1.59	$1.65	$1.53	$1.43	$1.31	$1.21	$1.14	$0.99	$0.89
Total Capital	9,516	6,479	4,989	4,150	3,872	3,496	3,329	3,294	3,331	3,028	3,169
Total Debt	8,028	5,393	3,953	3,064	2,852	2,529	2,430	2,449	2,530	2,315	2,524
Total Long-Term Debt	4,656	4,017	3,598	3,049	2,852	2,529	2,430	2,134	1,887	1,883	1,578
Net Debt	4,771	3,458	1,187	170	402	920	1,107	1,519	1,468	1,544	1,831
Capital Expenditures (CapEx)	13	4.00	8.00	9.00	11	9.00	8.00	8.00	6.00	3.00	4.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	6,098	4,402	2,118	1,126	1,295	1,766	1,887	2,241	2,123	2,129	2,352
Debt-free Net Working Capital (DFNWC)	9,355	6,337	4,884	4,020	3,745	3,375	3,210	3,171	3,185	2,900	3,045
Net Working Capital (NWC)	5,983	4,961	4,529	4,005	3,745	3,375	3,210	2,856	2,542	2,468	2,099
Net Nonoperating Expense (NNE)	361	209	14	-88	51	11	48	42	31	47	46
Net Nonoperating Obligations (NNO)	4,785	3,470	1,191	171	403	921	1,108	1,520	1,471	1,547	1,834
Total Depreciation and Amortization (D&A)	23	25	24	19	12	17	16	13	12	12	11
Debt-free, Cash-free Net Working Capital to Revenue	36.89%	28.28%	15.65%	9.95%	14.50%	25.42%	37.69%	49.34%	42.98%	41.32%	45.89%
Debt-free Net Working Capital to Revenue	56.59%	40.71%	36.08%	35.53%	41.92%	48.59%	64.11%	69.82%	64.49%	56.28%	59.41%
Net Working Capital to Revenue	36.19%	31.87%	33.46%	35.40%	41.92%	48.59%	64.11%	62.88%	51.47%	47.89%	40.96%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.47)	($0.65)	($0.16)	$0.04	($0.16)	($0.14)	($0.16)	($0.13)	($0.11)	($0.16)	($0.12)
Adjusted Weighted Average Basic Shares Outstanding	629.54M	627.11M	641.92M	646.06M	662.15M	657.11M	682.46M	693.45M	705.36M	699.46M	723.54M
Adjusted Diluted Earnings per Share	($1.47)	($0.64)	($0.16)	$0.03	($0.16)	($0.13)	($0.16)	($0.13)	($0.11)	($0.16)	($0.12)
Adjusted Weighted Average Diluted Shares Outstanding	629.54M	627.11M	641.92M	667.16M	662.15M	657.11M	682.46M	693.45M	705.36M	699.46M	723.54M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	634.20M	642.56M	648.78M	659.20M	670.03M	679.64M	691.58M	703.00M	715.07M	723.52M	728.90M
Normalized Net Operating Profit after Tax (NOPAT)	-567	-190	-87	-56	-55	-81	-61	-50	-47	-66	-37
Normalized NOPAT Margin	-16.87%	-6.64%	-2.78%	-2.81%	-5.64%	-9.25%	-5.16%	-3.34%	-3.41%	-6.07%	-3.22%
Pre Tax Income Margin	-27.58%	-13.97%	-3.24%	1.21%	-10.82%	-10.46%	-9.23%	-6.02%	-5.66%	-10.42%	-7.37%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-7.06	-1.89	0.00	0.00	-1.26	-29.33	-1.95	-1.94	-1.29	-2.42	-1.58
NOPAT to Interest Expense	-4.93	-1.37	0.00	0.00	-1.18	-26.83	-1.65	-1.63	-1.38	-1.99	-1.19
EBIT Less CapEx to Interest Expense	-7.17	-1.92	0.00	0.00	-1.49	-32.33	-2.16	-2.19	-1.47	-2.52	-1.70
NOPAT Less CapEx to Interest Expense	-5.04	-1.40	0.00	0.00	-1.41	-29.83	-1.86	-1.88	-1.56	-2.08	-1.31
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Key Financial Trends

In Q1 2025, Opendoor Technologies reported $1.153 billion in revenue, a 6.4% increase quarter-over-quarter, and gross profit of $99 million (8.6% gross margin). While EBITDA losses narrowed and profitability metrics improved sequentially, the company remained cash-flow negative and carried significant debt. Here are the key takeaways for retail investors:

Q1 revenue rose to $1.153 billion, up 6.4% quarter-over-quarter.
Gross profit improved to $99 million, with gross margin at 8.6%.
EBITDA loss narrowed by 39.7% Q/Q, reflecting operational leverage gains.
NOPAT grew 40.4% Q/Q, signaling progress toward profitability.
Market capitalization stands at $738 million, reflecting investor interest.
Book value per share is $0.8915, with a price-to-book ratio of 1.14×.
Current ratio of 2.99× indicates sufficient near-term liquidity.
Net loss widened to $85 million, with a net margin of –7.4%.
Free cash flow to firm remained negative at –$511 million.
Total debt of $2.52 billion (net debt $1.83 billion) results in high leverage (debt/equity 3.91×).

07/19/25 02:58 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Opendoor Technologies' Financials

When does Opendoor Technologies' financial year end?

According to the most recent income statement we have on file, Opendoor Technologies' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Opendoor Technologies' net income changed over the last 6 years?

Opendoor Technologies' net income appears to be on an upward trend, with a most recent value of -$392 million in 2024, rising from -$239.93 million in 2018. The previous period was -$275 million in 2023. See Opendoor Technologies' forecast for analyst expectations on what’s next for the company.

What is Opendoor Technologies' operating income?

Opendoor Technologies' total operating income in 2024 was -$320 million, based on the following breakdown:

Total Gross Profit: $433 million
Total Operating Expenses: $753 million

How has Opendoor Technologies' revenue changed over the last 6 years?

Over the last 6 years, Opendoor Technologies' total revenue changed from $1.84 billion in 2018 to $5.15 billion in 2024, a change of 180.3%.

How much debt does Opendoor Technologies have?

Opendoor Technologies' total liabilities were at $2.41 billion at the end of 2024, a 7.2% decrease from 2023, and a 52.4% increase since 2019.

How much cash does Opendoor Technologies have?

In the past 5 years, Opendoor Technologies' cash and equivalents has ranged from $405.08 million in 2019 to $1.73 billion in 2021, and is currently $671 million as of their latest financial filing in 2024.

How has Opendoor Technologies' book value per share changed over the last 6 years?

Over the last 6 years, Opendoor Technologies' book value per share changed from 0.00 in 2018 to 1.00 in 2024, a change of 99.7%.

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This page (NASDAQ:OPEN) was last updated on 7/19/2025 by MarketBeat.com Staff

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Opendoor Technologies (OPEN) Financials

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Opendoor Technologies (OPEN) Financials

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