---
schema_version: "secwatch.filing_event.v1"
accession: "0001801169-23-000096"
form_type: "8-K"
ticker: "OPEN"
cik: "0001801169"
company_name: "Opendoor Technologies Inc."
filed_at: "2023-08-03T23:59:59+00:00"
generated_at: "2026-06-12T09:06:41.769722+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Opendoor Q2 revenue $2.0B (-53% YoY); guides Q3 rev $950M-$1.0B, adj EBITDA -$60M to -$70M

## Summary
- Revenue $2.0B, down 53% YoY; GAAP net income $23M vs loss of $54M YoY; adjusted net loss $197M.
- Gross margin 7.5% vs 11.6% YoY; contribution margin -4.6% vs 10.1% YoY; homes sold 5,383, down 49%.
- Inventory $1.1B, down 83% YoY; new book homes sold generated 14.4% gross margin and 10.6% contribution margin.
- Repurchased $279M of 2026 convertible notes at discount, recording $104M gain; ended Q2 with $1.6B total capital.
- Q3 guidance: revenue $950M-$1.0B, Adjusted EBITDA -$60M to -$70M; expects return to positive contribution margin in Q3.

## SEC filing metadata
- accession: 0001801169-23-000096
- form_type: 8-K
- ticker: OPEN
- cik: 0001801169
- company_name: Opendoor Technologies Inc.
- filed_at: 2023-08-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1801169/000180116923000096/0001801169-23-000096-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1801169/000180116923000096/open-20230803.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001801169-23-000096
- JSON: https://secwatch.observer/filing/0001801169-23-000096.json
- Plain text: https://secwatch.observer/filing/0001801169-23-000096.txt

## Key facts
- Earnings Releases
  Opendoor Technologies Inc. reported second quarter ended June 30, 2023 results: revenue $2.0 billion, net income $23 million. Guidance initiated.
  - Period: second quarter ended June 30, 2023
  - Revenue: $2.0 billion
  - Net income: $23 million
  - Guidance: initiated
  - Result: reported results
  source text: cycle more resilient and positioned for market leadership and long-term profitability”, said Carrie Wheeler, CEO of Opendoor. Second Quarter 2023 Key Highlights • Revenue of $2.0 billion, down (53)% versus 2Q22 and down (37)% versus 1Q23; with 5,383 total homes sold, down (49)% versus 2Q22 and down (35)% versus 1Q23 • Gross profit of $149 million; Gross Margin of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801169/000180116923000096/0001801169-23-000096-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.