Opendoor reported Q4 FY2025 revenue of USD 736 million (-32% YoY) and a net loss of USD 1.10 billion, versus a net loss of USD 113 million in Q4 FY2024. Gross profit was USD 57 million (-33% YoY), with gross margin of 7.7% (from 7.8%). Contribution profit was USD 7 million (from USD 38 million), with contribution margin of 1.0% (from 3.5%). Adjusted EBITDA loss was USD 43 million (from a USD 49 million loss), and adjusted net loss was USD 62 million (from USD 77 million). Q4 homes sold were 1,978 (-30% YoY) and homes purchased were 1,706 (-42% YoY), while ending inventory was USD 925 million (down from USD 2.16 billion) across 2,867 homes (down from 6,417). Cash and cash equivalents ended FY2025 at USD 962 million (from USD 671 million), with restricted cash of USD 339 million (from USD 92 million). For FY2025, revenue was USD 4.37 billion (-15% YoY) and net loss was USD 1.30 billion (from USD 392 million). The company said homes purchased increased 46% quarter-over-quarter in Q4 and average inventory days in possession fell 23%, while Cash Plus grew to 35% of weekly volume. Opendoor also reported the October 2025 acquisition cohort (the first full month under its “Opendoor 2.0” model) is tracking to deliver the strongest contribution margins of any October cohort in company history, with homes selling at more than twice the velocity of the October 2024 cohort and over 50% already sold or under resale contract. For Q1 FY2026, Opendoor expects revenue to decrease approximately 10% quarter-over-quarter and guided to an adjusted EBITDA loss in the low-to-mid USD 30 millions, while stating it expects to exit Q1 with its highest contribution margin since Q2 FY2024.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Opendoor Technologies Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9657917-en) on February 19, 2026, and is solely responsible for the information contained therein.