Opendoor reported fiscal year 2024 revenue of .153 billion with a net loss of 92 million, selling 13,593 homes and purchasing 14,684 homes. In fiscal year 2025, revenue declined to .371 billion with a net loss of .300 billion, which included a 33 million debt extinguishment charge in Q4 2025. The company sold 11,791 homes and purchased 8,241 homes during FY 2025.
A significant milestone was achieved in Q2 2025 with the company's first Adjusted EBITDA profit of 3 million since 2022. Gross profit for FY 2025 was 50 million. The company issued 25 million in convertible notes in May 2025 to strengthen its balance sheet. As of early May 2026, Opendoor's share price was approximately .01 with a market capitalization of roughly .83 billion.
Opendoor launched Opendoor 2.0 in 2025, an AI-powered real estate platform centered on Ernie, an AI agent that handles title, escrow, and transaction automation. The platform uses machine learning-driven pricing algorithms to generate instant offers for home sellers and optimize resale pricing for buyers. Opendoor 2.0 aims to reduce friction in real estate transactions by automating traditionally manual processes such as inspections, title clearance, and closing coordination.
The company acquired Homebuyer.com in December 2025 to integrate digital mortgage services into its transaction flow, signaling a broader ambition to own the end-to-end home buying and selling experience through technology.
Opendoor's Opendoor 2.0 platform and Ernie AI agent provide a significant technological moat by automating title, escrow, and transaction processes that competitors still handle manually. The company's data-driven instant offer model eliminates seller uncertainty and reduces time-to-close compared to traditional real estate transactions.
Opendoor's expansion from 50 markets to nationwide lower-48 coverage positions it as the largest geographically distributed iBuyer in the United States. The integration of Homebuyer.com's digital mortgage services creates a one-stop-shop for buyers, potentially increasing repeat transactions and reducing customer acquisition costs over time.
