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Opendoor Technologies Inc. (OPEN) issued $650.0 million aggregate principal amount of 0.00% Convertible Senior Notes due 2030 in privately negotiated transactions. The notes are senior unsecured, bear no regular interest, and mature on August 15, 2030, unless earlier converted, redeemed, or repurchased.
The initial conversion rate is 212.2466 shares per $1,000, implying a conversion price of about $4.71 per share, a 35% premium to the $3.49 share price on August 12, 2026. Based on this rate, 137,960,290 shares would be issued upon conversion, with a maximum of 186,246,385 shares if the conversion rate is increased after specified events.
The company may redeem the notes for cash on or after February 22, 2029 if stock price and liquidity conditions are met, and must repurchase them at par plus applicable interest upon certain “Fundamental Change” events. Opendoor also entered into capped call transactions with a cap price of $6.98 per share, costing about $52.5 million, to reduce potential dilution or excess cash payments. Separately, on August 17, 2026, it repurchased about $158 million of its common stock, while the placement agent bought about $25 million of shares from transaction participants.
Opendoor Technologies Inc. director and Chief Executive Officer Kasra Nejatian purchased 27,625 shares of common stock in an open-market transaction on 2026-08-14 at a weighted average price of about $3.62 per share, with individual trade prices ranging from $3.6150 to $3.6200. After this purchase, Nejatian directly holds 83,605,924 shares of Opendoor common stock. The transaction was executed in accordance with the company’s Insider Trading and Trading Window Policy and was not reported as made under a Rule 10b5-1 trading plan.
Morgan Stanley and its affiliate Morgan Stanley Investment Management Inc. report significant passive ownership positions in Opendoor Technologies Inc. common stock as of 06/30/2026. Morgan Stanley reports beneficial ownership of 111,627,421 shares, while Morgan Stanley Investment Management Inc. reports 111,150,363 shares.
Each reporting person indicates beneficial ownership of 11.5% of Opendoor’s outstanding common stock, with no sole voting or dispositive power. Morgan Stanley reports 106,465,634 shares with shared voting power and 111,627,421 shares with shared dispositive power; Morgan Stanley Investment Management Inc. reports 106,060,014 and 111,150,363 shares, respectively.
Opendoor Technologies entered into subscription agreements to issue $650 million of 0.00% Convertible Senior Notes due 2030 in a private placement. The notes are senior unsecured, bear no cash interest, and mature on August 15, 2030, with holder conversion rights beginning broadly after February 15, 2030.
The initial conversion rate is 212.2466 shares per $1,000 (conversion price about $4.71 per share), a 35% premium to the $3.49 share price on August 12, 2026, implying up to 137,960,290 shares if fully converted. Opendoor plans to use $158 million of proceeds to repurchase about 45.3 million shares (around 5% of shares outstanding) at $3.49 and about $52.5 million for capped call transactions with a $6.98 cap to limit dilution, leaving roughly $440 million of net growth capital before expenses.
Opendoor Technologies Inc. buys and sells homes through a digital platform and reported softer results for the quarter ended June 30, 2026. Revenue was $883 million with gross profit of $86 million and gross margin of 9.7%, while net loss widened to $162 million (basic and diluted loss per share of $0.17). The company sold 2,339 homes and purchased 4,378, ending with 5,459 homes in inventory valued at $1.845 billion; 9% of homes had been on the market more than 120 days, down from 36% a year earlier.
Operating expenses reached $230 million, including $119 million of stock-based compensation, largely from market-condition RSUs. Operating cash flow for the first half of 2026 was an outflow of $964 million, including $932 million used to increase real estate inventory. As of June 30, 2026, Opendoor held $896 million in cash and cash equivalents and $66 million in restricted cash, against $1.762 billion of non-recourse asset-backed debt and $197 million of convertible senior notes principal. Management highlights disciplined pricing, inventory valuation adjustments of $14 million in the quarter, and a focus on partnerships and new services, including a recently launched mortgage product.
Opendoor Technologies reported Q2 2026 results with revenue of $883 million, 23% higher quarter-over-quarter and down from $1,567 million in Q2 2025. Gross profit was $86 million with a 9.7% margin. Contribution Profit was $51 million and Contribution Margin 5.8%, up 140 basis points quarter-over-quarter and year-over-year. GAAP net loss was $162 million; Adjusted Net Loss $30 million; and Adjusted EBITDA $(4) million.
The company purchased 4,378 homes (up 77% quarter-over-quarter and 149% year-over-year) and sold 2,339, ending the quarter with 5,459 homes in inventory valued at $1.845 billion; 9% of homes were on the market more than 120 days versus 36% a year earlier. Operations expense per acquisition close fell to $3.0 thousand from $5.0 thousand in Q1 2026. First-half 2026 operating cash flow was $(964) million as real estate inventory increased by $932 million; cash and cash equivalents were $896 million and restricted cash $66 million, alongside non-recourse asset-backed debt of $691 million current and $1,071 million non-current.
Management targets Adjusted Net Income positive on a twelve-month go-forward basis by the end of 2026 and expects Q3 2026 revenue to grow at least 20% year-over-year, with Contribution Profit dollars more than doubling and Contribution Margin around 4%–4.5%.
BlackRock, Inc. reports beneficial ownership of 68,482,376 shares of Opendoor Technologies Inc. common stock on a Schedule 13G, representing 7.1% of the class as of June 30, 2026. BlackRock has sole voting power over 67,044,986 shares and sole dispositive power over 68,482,376 shares, with no shared voting or dispositive power reported.
The filing states that various underlying clients have rights to dividends or sale proceeds from these shares, but no single client holds more than 5% of Opendoor’s outstanding common stock.
Opendoor Technologies Inc. Chief Operating Officer Giang Nguyen reported a sale of 3,591 shares of Common Stock on 2026-07-15 at a weighted average price of $4.6849 per share, with individual trades between $4.545 and $4.805. The transaction was executed under a Rule 10b5-1 sell-to-cover election solely to satisfy tax withholding obligations arising from settlement of previously granted restricted stock awards and was not a discretionary trade. Following the sale, Nguyen directly holds 8,185,543 shares of Opendoor Common Stock.
Issuer OPEN filed a notice of proposed sale of common stock. Giang Nguyen plans to sell 3,591 shares of common stock through Morgan Stanley Smith Barney LLC Executive Financial Services on or after July 15, 2026 on Nasdaq, with an indicated value of $163,339.05. The filing also lists a prior sale of 10,866 shares of common stock on April 15, 2026 for $50,487.79, and notes that the shares to be sold relate to Restricted Stock Units issued by the company.
Opendoor Technologies director David C. Benson sold 40,000 shares of Common Stock in an open-market transaction. The sale occurred on June 16, 2026 at a weighted average price of $4.8341 per share, with individual trades ranging from $4.60 to $5.02.
According to the footnotes, this sale was effected under a pre-arranged Rule 10b5-1 instruction entered on March 6, 2026 to cover taxes related to the vesting of restricted stock units. After the transaction, Benson directly owned 180,099 Opendoor shares.