NEW YORK, July 22, 2026, 09:06 EDT
- Opendoor was down 1.34% at $4.42 ahead of Nasdaq’s opening bell.
- Preliminary acquisition agreements increased by 12% from the previous week. The 30-year mortgage rate climbed to 6.69%.
- Guidance for the second quarter suggests revenue of approximately $900 million. The margin midpoint indicates a contribution profit near $54 million.
Opendoor Technologies Inc. NASDAQ:OPEN was set to open down on Wednesday, as an 11-month peak in mortgage rates overshadowed a 12% weekly increase in initial home-acquisition contracts. U.S. cash markets stayed closed.
This tension is the primary focus for investors ahead of the August 4 results. An increase in purchases is beneficial only if both resale pace and unit margins are maintained.
At 8:59 a.m. EDT, shares were pointed at $4.42, reflecting a 1.34% decline. Over the week ending July 17, they dropped 5.6%.
Revenue for the first quarter totaled $720 million. Contribution profit reached $32 million. The company posted an adjusted EBITDA loss of $31 million.
Management expects sequential revenue growth of around 25%. The company projects contribution margin to land close to the midpoint of its 5%-7% goal.
These indicators suggest Q2 revenue of approximately $900 million. With a 6% preliminary contribution profit, that would equate to roughly $54 million, representing an increase of 69% from Q1.
The figures shown below are based on company forecasts, not actual reported results.
| Investor measure | Latest or derived figure | Comparison |
|---|---|---|
| Weekly acquisition-contract tracking | +12% | Week ending July 18 versus previous week |
| 30-year mortgage contract rate | 6.69% | Up four basis points; peak since August 2025 |
| Q2 revenue, preliminary | About $900 million | Equals Q1 revenue times 1.25 |
| Q2 contribution profit, preliminary | About $54 million | 6% of revenue; previous quarter was $32 million |
| Equity value versus annualized Q2 sales | About 1.2 times | Approximately $4.3 billion versus $3.6 billion |
The contract tracker received an update on Tuesday, reflecting information collected up to July 18. According to Opendoor, these numbers are projected estimates and do not include cancellations occurring afterward. Deloitte has neither audited nor reviewed this data.
Home purchases increased by 45% in the first quarter compared with the previous quarter. The company finalized over 5,000 acquisition contracts, marking its highest total since 2022.
The share of homes on the market for over 120 days declined to 10% from 33%. CEO Kaz Nejatian said in May: “Better acquisitions, faster turns, stronger margins.” SEC
Funding conditions became more restrictive. The Mortgage Bankers Association reported its 30-year contract rate increased by four basis points to 6.69%, equaling the rate seen in August 2025.
Mike Fratantoni, chief economist at the MBA, stated that mortgage rates are “likely to remain higher.” Reuters
As of March 31, Opendoor’s home inventory stood at $1.139 billion. The company reported $1.1 billion in asset-backed debt, increasing the expense of a prolonged exit cycle.
Opendoor’s market value stood at approximately $4.3 billion, or around 1.2 times its annualized Q2 revenue outlook. This ratio does not reflect profitability. Margins and the pace of reselling homes are key variables.
June new-home sales will be reported on Friday. The Federal Reserve is scheduled to meet on July 28-29.
Shareholders of Opendoor can submit questions until July 29. The company will announce its second quarter results after markets close on August 4.
Risks: The tracker may feature contracts that are subsequently cancelled. Increased rates could extend holding periods. In Q1, the GAAP loss reached $173 million, factoring in a $100 million rise in executive market-condition stock-unit expenses.
The upcoming report needs to detail activity on both sides of the trade. Increased purchases provide support only as long as home sales continue.
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