OPENL — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-04

• The U.S. housing market remains constrained by elevated mortgage rates and persistent affordability challenges. Existing home sales remain at a seasonally adjusted annual rate of around 4 million units, representing a 30-year low and roughly 20% below the pre-pandemic decade average of approximately…

• flat year-over-year. Inventory levels are modestly constrained, representing nearly 5 months of supply as of June 2026. After falling to just under 6% in late February 2026, mortgage rates rose through the second quarter, ending June in the mid-6% range. Seller-buyer disconnect persists, with delist…

• (5)Restructuring expense consists primarily of severance and other termination benefits for employees whose roles have been eliminated, consulting fees, and expenses related to the termination of certain leases incurred during the restructuring process.

• (8)Includes interest expense on our non-recourse asset-backed debt facilities.

• Revenue decreased by $1.1 billion, or 41%, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025. The decrease in revenue was primarily attributable to lower sales volumes in the first half of 2026, which was driven by lower homes in inventory entering the year. We be…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• The U.S. housing market remains constrained by elevated mortgage rates and persistent affordability challenges. Existing home sales remain at a seasonally adjusted annual rate of around 4 million units, representing a 30-year low and roughly 20% below the pre-pandemic decade average of approximately…

• first quarter of 2026. Seller-buyer disconnect persists, with delistings (homes withdrawn from the market without selling) reaching the highest levels in Opendoor’s operating history.

• (5)Restructuring costs consist primarily of severance and employee termination benefits and bonuses incurred in connection with the elimination of employees’ roles and consulting fees.

• (8)Includes interest expense on our non-recourse asset-backed debt facilities.

• Cost of revenue decreased by $406 million, or 39%, for the three months ended March 31, 2026 compared to the three months ended March 31, 2025. The decrease in cost of revenue was primarily attributable to lower sales volumes and a 6% decrease in cost of revenue per home sold.

Text added vs the prior filing · source: 10-Q · 2026-08-04

• (c) During the three months ended June 30, 2026, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• (c) Securities Trading Arrangements of Directors and Executive Officers

• The following table describes contracts, instructions or written plans for the sale or purchase of our securities that were intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement” by our directors or executive officers during the three-mo…

• (1)Intended to satisfy the affirmative defense of Rule 10b5-1(c)

• (2)Not intended to satisfy the affirmative defense of Rule 10b5-1(c)

• (3)At the time of adoption, the maximum number of shares that could be sold was unknown. The Rule 10b5-1 trading arrangement contemplated, as of the adoption date, the sale of up to 859,977 shares of common stock subject to RSUs previously granted to Ms. Schwartz that will vest at various dates betw…