---
schema_version: "secwatch.filing_event.v1"
accession: "0001801169-25-000073"
form_type: "8-K"
ticker: "OPEN"
cik: "0001801169"
company_name: "Opendoor Technologies Inc."
filed_at: "2025-08-05T23:59:59+00:00"
generated_at: "2026-05-17T20:54:08.228254+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Opendoor Q2 2025: $1.6B revenue, first positive adjusted EBITDA $23M; expects housing weakness to persist

## Summary
- Revenue $1.6B (+4% YoY); net loss $(29)M vs $(92)M YoY improvement.
- Adjusted EBITDA $23M (first positive since 2022) vs $(5)M YoY; contribution margin 4.4%.
- Sold 4,299 homes (+5% YoY); purchased 1,757 homes (-63% YoY) as acquisitions slow.
- Inventory $1.5B (4,538 homes) down 32% YoY; expects sequential H2 volume declines.
- Launched agent-led platform and Cash Plus product; transitioning business model.

## SEC filing metadata
- accession: 0001801169-25-000073
- form_type: 8-K
- ticker: OPEN
- cik: 0001801169
- company_name: Opendoor Technologies Inc.
- filed_at: 2025-08-05T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1801169/000180116925000073/0001801169-25-000073-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1801169/000180116925000073/open-20250805.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001801169-25-000073
- JSON: https://secwatch.observer/filing/0001801169-25-000073.json
- Plain text: https://secwatch.observer/filing/0001801169-25-000073.txt

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