)
)
Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Opendoor Technologies
Opendoor Technologies (OPEN) investor relations material
Opendoor Technologies Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary4 Aug, 2026
Executive summary
Revenue for Q2 2026 was $883 million, up 23% quarter-over-quarter but down 44% year-over-year, with contribution profit up 59% QoQ and contribution margin at a two-year high of 5.8%.
Homes purchased rose 77% QoQ and 149% YoY to 4,378, while homes sold decreased 46% YoY, reflecting a strategic inventory build.
Net loss widened to $162 million for Q2 2026, compared to $29 million in Q2 2025, driven by increased stock-based compensation and lower sales.
Operating leverage improved as operations expense per acquisition dropped to $3,000 from $8,400 a year ago, despite doubling acquisition volume.
The company expects to achieve positive Adjusted Net Income (ANI) on a twelve-month go-forward basis by the end of 2026.
Financial highlights
Gross profit for Q2 2026 was $86 million (9.7% margin), up from $72 million in Q1 2026 but down from $128 million YoY.
Contribution profit reached $51 million (5.8% margin), up 59% QoQ and up from 4.4% YoY.
Marketing spend fell from $19 million to $5 million QoQ, while acquisition contracts rose to 6,908 from 5,136.
Inventory at period end: $1.85 billion and 5,459 homes, up from 3,420 in Q1 2026.
Cash and cash equivalents at June 30, 2026: $896 million.
Outlook and guidance
Q3 2026 revenue expected to increase at least 20% year-over-year.
Contribution profit dollars projected to more than double YoY in Q3, with margin around 4%-4.5% due to seasonality.
Adjusted EBITDA profitability expected on a twelve-month go-forward basis as of Q2 2026.
Commitment to be adjusted net income positive by year-end 2026, measured on a twelve-month go-forward basis.
Stock-based compensation for Q3 forecasted at approximately $110 million.
Partial view of Summaries dataset, powered by Quartr API
AI can get things wrong. Verify important information.Research faster. Power your platform.
Latest events from Opendoor Technologies
- All proposals passed, with leadership stressing business fundamentals and margin improvements.OPEN
AGM 2026 - Shareholders are called to vote independently and support the current board's direction.OPENProxy filing
- AI-driven strategy and operational changes have accelerated growth and improved margins.OPENJ.P. Morgan 54th Annual Global Technology, Media and Communications Conference
- Acquisitions and margins rose, but revenue fell and net loss widened in Q1 2026.OPENQ1 2026
- Proxy covers director elections, auditor ratification, and performance-based executive pay.OPENProxy filing
- Virtual meeting to elect directors, ratify auditor, and hold a Say-on-Pay vote.OPENProxy filing
- Record acquisition growth and faster inventory turns offset by wider net loss from debt extinguishment.OPENQ4 2025
- Q2 revenue was $1.51B, margin rose to 8.5%, and acquisitions increased 78% year-over-year.OPENQ2 2024
- Revenue up 41% YoY, net loss narrows, and 17% workforce cut amid housing market headwinds.OPENQ3 2024
Next Opendoor Technologies earnings date
Q3 20265 Nov, 2026
Opendoor Technologies
Next Opendoor Technologies earnings date
Q3 20265 Nov, 2026
AI chat
Ask anything. Verify everything.
Ask across every event and document from public companies. Each answer links back to the exact line in the transcript, slide or filing it came from.Learn moreFind what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.)
Trust every finding
50m+ first-party documents. Every output traceable to its source.Find what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.Trust every finding
50m+ first-party documents. Every output traceable to its source.Automations
Zero in on what matters
Define the prompt once. It runs the moment a company publishes or on a schedule you set. Outputs map to the exact signals you choose.Learn more)
Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.)
Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Live audio & transcripts
Be first
Join any earnings call live in one click, with no manual registration. Follow the transcript as it happens and jump straight to the moments that matter.Learn more)
Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.)
Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Quartr MCP connects your AI environment to 17K+ public companies
Pull live transcripts, filings, and slides into Claude or Codex via MCP. Combine Quartr's global IR data with any other dataset. Run agentic research and monitoring.
Included with Quartr Pro at no extra cost.Learn more
Quartr's AI stands out because it only pulls clean, first-party data from public companies. In investing, that's everything.
Jamie Ross
Investment Manager, GAM Investments
GAM
GAM
Research that used to take hours now takes seconds with Quartr Pro. Tracking shifts in tone or extracting tables, it's as simple as typing a query.
Tom O'Hara
Investment Director
Ciena
Ciena
Before Quartr we spent hours manually compiling insights through the peer earnings cycle. Now, these tasks are done faster, with greater precision.
Gregg Lampf
VP of Investor Relations
Protean
Protean
Being able to ask specific questions across years of transcripts and reports and instantly get verified answers is a game-changer.
Pontus Dackmo
CEO & Investment Manager
)
)
Frequently asked questions
Streamlining the process of buying a home
Opendoor Technologies operates an online real estate marketplace that facilitates direct home sales. Their platform aims to simplify the buying and selling process by offering homeowners the option to sell their properties directly to Opendoor. With the use of data and technology, Opendoor aims to provide competitive offers to homeowners, giving them an alternative to traditional real estate procedures. Additionally,
The convenient way to do it
Purchasing a home through Opendoor offers several conveniences compared to traditional methods. One key advantage is the speed and simplicity of the transaction process. Opendoor's streamlined approach eliminates the need for time-consuming negotiations and potential complications associated with involving multiple parties. Buyers can browse through a selection of available homes curated especially for their wants in a new home, view detailed property information, and schedule self-guided tours without coordinating with real estate agents. However, Opendoor is not the only company providing those in the market for a home with a digital platform. Some publicly traded peers and competitors to Opendoor include Zillow and Redfin.
Buyers and sellers
Opendoor's operations are multi-faceted, and one part of their business is purchasing homes directly from sellers. This approach differentiates them from traditional real estate transactions where buyers and sellers typically work with an agent acting as an intermediary. Opendoor's ability to buy homes directly simplifies and expedites the process for sellers, as they can avoid the complexities of listing, marketing, and coordinating showings. By purchasing properties Opendoor can provide a faster and more certain sale for sellers, all while providing a convenient and smooth process.
An intelligent pricing model
Opendoor utilizes data analytics and a sophisticated matching algorithm as a core component of their business operations. The company leverages vast amounts of data, including historical sales data, market trends, property attributes, and local market conditions to inform their pricing strategies. By utilizing their algorithms, Opendoor can generate accurate and competitive offers for properties. The matching algorithm in question takes various factors into account when searching for a home, such as location, property type, condition, and market demand in order to find the best available option from their inventory. This data-driven approach enables Opendoor to provide sellers with fair market prices, while offering a platform that’s easy to use.