Opendoor Q2 revenue misses estimates

Opendoor Technologies

04/08/2026 21:31

Overview
U.S. real estate platform's Q2 revenue rose 23% QoQ but missed analyst expectations
Contribution profit grew 59% QoQ; margin improved both sequentially and YoY
Company expects to achieve positive adjusted net income on a twelve-month basis by end-2026

Outlook
Opendoor expects Q3 2026 revenue to increase at least 20% year-over-year
Company sees Q3 2026 contribution profit more than doubling year-over-year, margin around 4%-4.5%
Opendoor targets positive Adjusted Net Income on a twelve-month go-forward basis by end of 2026

Result Drivers
ACQUISITION GROWTH - Homes purchased rose 77% QoQ, supporting higher revenue and inventory levels
COST EFFICIENCY - Combined marketing and operations cost per acquisition contract reached lowest level in company history
MORTGAGE PRODUCT TRACTION - Early adoption of Opendoor Home Loans in Colorado and Texas supported resale velocity

Company press release: ID:nGNX7MDX9K

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$883 mln
$906.79 mln (7 Analysts)

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 6 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the real estate services peer group is "buy."
Wall Street's median 12-month price target for Opendoor Technologies Inc is $4.75, about 20.6% above its August 3 closing price of $3.94

Reuters Recommended Reads
Aug 3 - Real estate platform Offerpad Q2 revenue falls more than expected, but margins rise
Aug 4 - LoanDepot Q2 adjusted net loss narrows from prior quarter but misses profit expectations
Aug 3 - JPMorgan aims to funnel $750 billion into housing through 2035

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)