Opendoor(US:OPEN) Globenewswire·2026-02-19 21:05Core Insights - Opendoor Technologies Inc. reported its best-performing October in company history, with a 46% increase in acquisitions quarter-over-quarter and a 23% reduction in inventory days in possession [1][3]. Financial Performance - For Q4 2025, revenue was $736 million, down from $1,084 million in Q4 2024, representing a decrease of $348 million [7]. - Gross profit for Q4 2025 was $57 million, compared to $85 million in Q4 2024, resulting in a gross margin of 7.7% [7]. - The net loss for Q4 2025 was $1,096 million, significantly higher than the $113 million loss in Q4 2024 [7]. - Homes sold decreased to 1,978 in Q4 2025 from 2,822 in Q4 2024, while homes purchased fell to 1,706 from 2,951 [7]. Operational Highlights - The October 2025 acquisition cohort is expected to deliver the strongest contribution margins in company history, with homes selling at more than twice the velocity of the October 2024 cohort [4]. - The percentage of homes on the market for more than 120 days decreased from 51% to 33% quarter-over-quarter [5]. - Fixed operating expenses were reduced to $35 million in Q4 2025 from $37 million in Q3 2025 and $43 million in Q4 2024 [5]. Management Objectives - The company is focused on reaching breakeven Adjusted Net Income by the end of 2026, improving unit economics, transitioning to direct-to-consumer relationships, and expanding its product suite [2][4]. - Progress against management objectives includes a 46% increase in homes purchased and a significant reduction in capital intensity through the Cash Plus program, which now accounts for 35% of weekly volume [3][5]. Financial Outlook - The company anticipates a revenue decrease of approximately 10% quarter-over-quarter for Q1 2026, with expectations for improved contribution margins [11]. - Adjusted EBITDA loss is projected to be in the low to mid $30 million range for Q1 2026 [11].