secwatch.observer — SEC 8-K summary
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Issuer:     Opendoor Technologies Inc. (OPEN)
CIK:        0001801169
Form:       8-K
Filed at:   2025-11-06T23:59:59+00:00
Accession:  0001801169-25-000090
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Opendoor Q3 revenue $915M (-33% YoY), net loss $90M; new CEO targets breakeven by end of 2026
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- Revenue $915M (-33% YoY); gross profit $66M (7.2% margin); net loss $90M vs $78M.
- Homes sold 2,568 (-29% YoY); homes purchased 1,169 (-67%); inventory 3,139 (-50%).
- Adjusted EBITDA -$33M (margin -3.6%) vs -$38M; adjusted net loss -$61M vs -$70M.
- CEO Kaz Nejatian targets breakeven Adjusted Net Income by end of 2026; plans include AI products and cost cuts.
- Acquisition contracts improved from 120 homes in mid-Sep to 230 in late Oct.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/0001801169-25-000090-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801169/000180116925000090/open-20251106.htm
  HTML page:      https://secwatch.observer/filing/0001801169-25-000090

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer