revenue $883.0M, net income -$162.0M. Opendoor Q2 revenue fell 44% as operating loss widened 1008% on market-condition RSU expense

Filed August 4, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 5, 2025 · ~2 min read

Key Changes

• high

  Q2 revenue fell 43.7% YoY to $883M (from $1.6B) as homes sold dropped 54% to 2,339 units; operating loss widened 1008% to -$144M (from -$13M), driven by $100M in market-condition RSU expense and CEO make-whole awards.

  MD&A: Revenue and Operating Loss verify on EDGAR →
• high

  Net loss widened 458.6% to -$162M (from -$29M) but operating loss widened 1008% — the net-income change did NOT come from operations. Below-the-line items improved $1.9M (non-operating/other -$2.0M, income tax +$100K), a smaller net deduction rather than a gain.

  MD&A: Earnings Quality verify on EDGAR →
• high

  Inventory grew 21% YoY to $1.8B (5,459 homes) but health improved: only 9% of homes on-market >120 days (vs 36% prior year). Purchase commitments surged to 2,310 homes ($736M) from 393 homes ($120M), reflecting nationwide expansion and acquisition ramp.

  MD&A: Inventory and Commitments verify on EDGAR →