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Opendoor Technologies (OPEN) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Opendoor Technologies (OPEN) Q3 2026 earnings results →
Q3 2026 Revenue up 12% year over year to $1.0B · 21¢ of every $1 of revenue lost · operating margin -18.3%
Opendoor Technologies made $1.0B in Q3 2026 (+12% Y/Y). Operating margin -18.3%, net loss $218M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.0B in Q3 2026, up 12% year over year and up 16% from the previous quarter.
Gross margin was 3.7%, down 3.5 points from Q3 2025. Operating costs exceeded revenue by $0.19B, an operating margin of -18.3%. Operating expenses grew 68% against revenue growth of 12%. The fastest-growing cost line was General & admin (+152%). The quarter ended with a net loss of $0.22B, wider than the previous quarter's $0.16B loss.
Operating cash flow was −$0.83B. Non-cash charges added back $0.01B of depreciation and amortization and $0.11B of share-based compensation. Working capital and other items used $0.73B. Capital expenditures of $4.0M exceeded it, leaving free cash flow of −$0.84B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $1.0B | +12% | -18.3% | −$218M | −$832M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $883M | -44% | -16.3% | −$162M | −$718M |
| Q1 2026 | 10-Q | May 7, 2026 | $720M | -38% | -22.1% | −$173M | −$246M |
| Q4 2025 | 10-K | Feb 19, 2026 | $736M | -32% | -20.4% | −$1.1B | $70.0M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $915M | -34% | -7.4% | −$90.0M | $435M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $1.6B | +4% | -0.8% | −$29.0M | $823M |
| Q1 2025 | 10-Q | May 6, 2025 | $1.2B | -2% | -4.9% | −$85.0M | −$279M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Opendoor Technologies
Our mission is to tilt the world in favor of homeowners, by making homeownership simpler, faster, and fairer for everyone. We are a leading e-commerce platform for residential real estate transactions and the largest U.S. iBuyer. Since founding Opendoor in 2014, our goal has been to reinvent one of life's most important transactions by enabling homeowners to buy, sell, and move through a simple, certain, and largely digital experience. By leveraging artificial intelligence, data science and purpose-built software, we enable consumers to transact directly with Opendoor, eliminating traditional friction and intermediaries. Our platform combines product design and operations to create what we believe will be the future of how people buy or sell a home.
In its own words, from its 10-K, filed Feb 19, 2026.
Opendoor Technologies against its Real Estate Agents & Managers (For Others) peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +12% against the peers' median +12%. Operating margin: -18.3% against the peers' median 0.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| OPEN Opendoor Technologies | Q3 2026 | $1.0B | +12% | -18.3% |
| JLL Jones Lang Lasalle | Q3 2026 | $7.3B | +12% | 5.4% |
| COMP Compass | Q3 2026 | $3.9B | +111% | 2.2% |
| AGNT Agnt | Q3 2026 | $1.4B | +6% | 0.2% |
| VAC Marriott Vacations Worldwide | Q3 2026 | $1.4B | +8% | 11.2% |
| NMRK Newmark Group | Q3 2026 | $973M | +13% | 8.8% |
| REAX Real Remax Group | Q3 2026 | $728M | +28% | -9.9% |
| DOUG Douglas Elliman | Q2 2026 | $283M | +4% | -1.2% |
| MMI Marcus & Millichap | Q3 2026 | $208M | +8% | -0.4% |
Source: Opendoor Technologies 10-Q on SEC EDGAR · CIK 1801169 · Real Estate Agents & Managers (For Others)
Guidance and outlook
13F: who owns OPEN and who is buying
More on OPEN
- How Opendoor Technologies makes money: revenue by segment
- Opendoor Technologies next earnings date and what analysts expect
- Opendoor Technologies stock forecast, price target and fair value
- Who owns Opendoor Technologies stock: holders, funds and Congress trades
- Opendoor Technologies guidance and outlook
- Is Opendoor Technologies a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results