Quarterly ResultMay 7, 2026, 04:24 PM
Opendoor Q1 Net Loss $(173)M; Operational Turnaround & Profitability Outlook
AI Summary
Opendoor Technologies Inc. reported its first quarter 2026 financial results, with revenue of $720 million and a net loss of $(173) million. Despite the GAAP loss, the company announced significant operational improvements, including achieving Adjusted EBITDA profitability on a 12-month go-forward basis as of April 1, 2026. Acquisition contracts doubled quarter-over-quarter, and aged inventory was substantially reduced, indicating a strong operational turnaround and positive outlook for future profitability.
Key Highlights
- Achieved Adjusted EBITDA profitability on a 12-month go-forward basis as of April 1, 2026.
- Reported Q1 2026 revenue of $720 million, down from $1,153 million in Q1 2025.
- Net loss for Q1 2026 was $(173) million, compared to $(85) million in Q1 2025.
- Acquisition contracts increased 2x quarter-over-quarter to over 5,000 in Q1 2026, highest since 2022.
- Aged inventory (over 120 days on market) decreased to 10% from 33% in the prior quarter.
- Q1 2026 Contribution Margin was 4.4%, with March 2026 delivering higher contribution margin than any quarter since 2Q24.
- Fixed operating expenses decreased to $33 million in Q1 2026 from $35 million in Q4 2025.
- Forecasts Q2 2026 revenue growth of approximately 25% quarter-over-quarter and Adjusted EBITDA breakeven.