Equity Profile

OPEN

Opendoor Technologies Inc.

Real EstateReal Estate Services$4.4B

Aug6Thu

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Opendoor Technologies Inc. is a real estate company that allows people to buy and sell homes online....

Key Metrics to Watch

Revenue Growth

Revenue growth is crucial for assessing how well Opendoor is expanding its market presence and attracting customers.

N/A

Earnings Per Share (EPS)

EPS indicates the company's profitability and is a key measure for investors to evaluate financial health.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

OPEN Q2-2026 Earnings Preview

Context

Company Snapshot

Opendoor Technologies Inc. is a real estate company that allows people to buy and sell homes online. As part of the growing trend of digital real estate services, it aims to simplify the home buying and selling process, which is increasingly important in today's fast-paced market.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

-150.38%

Avg Stock Reaction

-3.04%

Last Quarter Recap

In Q1 2026, Opendoor reported an EPS of -$0.18, significantly missing estimates. The stock reacted negatively, dropping 2.56% the following day.

Management Promises & Guidance

Management committed to improving operational efficiency.
They emphasized a focus on enhancing customer experience.
Plans to expand into new markets were discussed.

Expectations

Wall Street Expectations

Investors are cautiously optimistic about Opendoor's upcoming earnings, given the company's focus on improving operations and customer experience.

Bull Case

If Opendoor demonstrates strong revenue growth and improved EPS, it could signal a turnaround and attract more investors.

Bear Case

Conversely, if the company continues to report losses and fails to show significant improvement in market demand, it could lead to further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What specific revenue growth figures can Opendoor provide for this quarter?

Revenue growth will be a key indicator of the company's ability to attract buyers and sellers in a competitive market.

How does management plan to address the recent EPS losses?

Understanding the strategy to improve profitability will be crucial for investor confidence moving forward.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Opendoor's potential for revenue growth, as recent trends in digital real estate services suggest a shift toward online platforms.

Supporting Evidence

Options are pricing a 13.62% move, indicating expectations of volatility that may not align with the actual performance.

The company's recent focus on customer experience could lead to higher engagement and sales.

Historical patterns show that Opendoor has a 63% EPS beat rate, suggesting potential for positive surprises.

Key Risk

If revenue growth exceeds 15%, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis revolves around Opendoor's ability to turn around its financial performance in a challenging real estate market.

Bull Confirmed If

A revenue growth rate exceeding 15% would confirm the bull case, indicating strong demand for Opendoor's services.

Bear Confirmed If

If EPS remains below -$0.10, it would confirm the bear case, suggesting ongoing profitability issues.

Pre-Earnings Positioning

Options Market

Implied Move

±13.62%

Historical Avg

±5.0%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings report.

Options are pricing ±13.6% while OPEN has averaged ±5.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.9%

30d HV

52.3%

Calls (13.4M)P/C Ratio: 0.17Puts (1.5M)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich in Real Estate

n=30

Fade rate: 16 of 30 (53%)

This setup has occurred 30 times across Real Estate in the last 2 years. 16 of 30 faded and 14 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 1.8%, with a raw directional average of +1.1% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Opendoor beats expectations and raises guidance, history suggests the stock could rise by an average of 2.59%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations but management provides cautious commentary, the stock may experience a muted reaction.

Miss

Should the company miss expectations, history indicates a potential drop of around 3.80%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on revenue growth and customer acquisition strategies.
2Management's plan for addressing EPS losses and improving profitability.
3Insights into market demand and competitive positioning.
4Any updates on expansion into new markets.
5Feedback on customer experience improvements and their impact on sales.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Opendoor Technologies Inc. is a real estate company that allows people to buy and sell homes online....

Key Metrics to Watch

Revenue Growth

Revenue growth is crucial for assessing how well Opendoor is expanding its market presence and attracting customers.

N/A

Earnings Per Share (EPS)

EPS indicates the company's profitability and is a key measure for investors to evaluate financial health.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

OPEN Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

-150.38%

Avg Stock Reaction

-3.04%

Last Quarter Recap

In Q1 2026, Opendoor reported an EPS of -$0.18, significantly missing estimates. The stock reacted negatively, dropping 2.56% the following day.

Management Promises & Guidance

Management committed to improving operational efficiency.
They emphasized a focus on enhancing customer experience.
Plans to expand into new markets were discussed.

Expectations

Wall Street Expectations

Investors are cautiously optimistic about Opendoor's upcoming earnings, given the company's focus on improving operations and customer experience.

Bull Case

If Opendoor demonstrates strong revenue growth and improved EPS, it could signal a turnaround and attract more investors.

Bear Case

Conversely, if the company continues to report losses and fails to show significant improvement in market demand, it could lead to further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What specific revenue growth figures can Opendoor provide for this quarter?

Revenue growth will be a key indicator of the company's ability to attract buyers and sellers in a competitive market.

How does management plan to address the recent EPS losses?

Understanding the strategy to improve profitability will be crucial for investor confidence moving forward.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Opendoor's potential for revenue growth, as recent trends in digital real estate services suggest a shift toward online platforms.

Supporting Evidence

Options are pricing a 13.62% move, indicating expectations of volatility that may not align with the actual performance.

The company's recent focus on customer experience could lead to higher engagement and sales.

Historical patterns show that Opendoor has a 63% EPS beat rate, suggesting potential for positive surprises.

Key Risk

If revenue growth exceeds 15%, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis revolves around Opendoor's ability to turn around its financial performance in a challenging real estate market.

Bull Confirmed If

A revenue growth rate exceeding 15% would confirm the bull case, indicating strong demand for Opendoor's services.

Bear Confirmed If

If EPS remains below -$0.10, it would confirm the bear case, suggesting ongoing profitability issues.

Pre-Earnings Positioning

Options Market

Implied Move

±13.62%

Historical Avg

±5.0%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings report.

Options are pricing ±13.6% while OPEN has averaged ±5.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.9%

30d HV

52.3%

Calls (13.4M)P/C Ratio: 0.17Puts (1.5M)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich in Real Estate

n=30

Fade rate: 16 of 30 (53%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Opendoor beats expectations and raises guidance, history suggests the stock could rise by an average of 2.59%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations but management provides cautious commentary, the stock may experience a muted reaction.

Miss

Should the company miss expectations, history indicates a potential drop of around 3.80%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on revenue growth and customer acquisition strategies.
2Management's plan for addressing EPS losses and improving profitability.
3Insights into market demand and competitive positioning.
4Any updates on expansion into new markets.
5Feedback on customer experience improvements and their impact on sales.