Filing Flows › Opendoor Technologies (OPEN) › Q1 2026
Opendoor Technologies (OPEN) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Opendoor Technologies (OPEN) reported revenue of $720M for the first quarter 2026 (Q1 2026), -38% from a year earlier and -2% from the quarter before. Operating margin was -22.1%, net loss $173M (24.0% of revenue).
Opendoor Technologies, Q1 2026: revenue $720M (-38% year over year), operating margin -22.1%, net loss $173M, operating cash flow −$246M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $720M | -2% | -38% |
| Operating profit | −$159M | — | — |
| Net earnings | −$173M | — | — |
| Operating cash flow | −$246M | -451% | — |
What changed
Revenue was $720.0M in Q1 2026, down 38% year over year and down 2% from the previous quarter.
Gross margin was 10.0%, up 1.4 points from Q1 2025. Operating costs exceeded revenue by $159.0M, an operating margin of -22.1%. Operating expenses grew 49% against a revenue fall of 38%. The fastest-growing cost line was General & admin (+315%). The quarter ended with a net loss of $173.0M, narrower than the previous quarter's $1,096.0M loss.
Operating cash flow was −$246.0M. Non-cash charges added back $8.0M of depreciation and amortization and $120.0M of share-based compensation. Working capital and other items used $201.0M. Capital expenditures of $4.0M exceeded it, leaving free cash flow of −$250.0M.
Questions
What was Opendoor Technologies' revenue in the first quarter 2026?
Opendoor Technologies (OPEN) reported revenue of $720M for the first quarter 2026 (Q1 2026), -38% from a year earlier and -2% from the quarter before.
Was Opendoor Technologies profitable in the first quarter 2026?
Operating loss was $159M (-22.1% of revenue) and net loss $173M.