OPEN's Profitability Milestone: A Turning Point for the iBuyer Model?

Key Takeaways Opendoor reported $23M adjusted EBITDA in Q2, its first profitable quarter in three years. OPEN ended Q2 with $789M in cash and $7.8B in borrowing capacity, bolstered by new notes. Cash Plus and the agent platform expand OPEN's capital-light, fee-driven revenue streams.Opendoor Technologies (OPEN) is entering a pivotal stage as macroeconomic headwinds reshape the housing landscape. With mortgage rates elevated and resale clearance slowing, the iBuyer is prioritizing profitability over pure vol ...