Equity Profile

OPEN

Opendoor Technologies Inc.

Real EstateReal Estate Services$4.3B

Aug6Thu

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Opendoor Technologies Inc. is a real estate services company that simplifies the home buying and selling process through technology....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well the company is managing its costs and revenues.

N/A

Revenue Growth

Revenue growth will indicate how well Opendoor is capturing market share and responding to consumer demand in the real estate market.

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 services company that simplifies the home buying and selling process through technology. As a player in the real estate sector, it is important to watch how it navigates market fluctuations and consumer demand, especially in a changing economic landscape.

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 expectations. The stock reacted negatively, dropping 2.56% the following day.

Management Promises & Guidance

Focus on improving operational efficiency.
Commitment to enhancing customer experience.
Plans to expand market presence in key regions.

Expectations

Wall Street Expectations

Overall, Wall Street is cautious about Opendoor's upcoming earnings, especially after recent misses. Investors are looking for signs of recovery in profitability and sales.

Bull Case

If Opendoor can show a significant rebound in home sales and better-than-expected EPS, it could restore investor confidence and drive the stock higher.

Bear Case

Conversely, if the company continues to report losses and fails to demonstrate growth in sales volume, it could lead to further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported EPS and how does it compare to expectations?

Given the company's recent history of missing EPS estimates, this will be a critical indicator of its financial health.

How has the home sales volume changed this quarter?

This metric will provide insight into the company's operational performance and market demand, which are crucial for future growth.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Opendoor's potential for a turnaround, especially if operational efficiencies lead to improved margins.

Supporting Evidence

The options market is pricing a 13.62% move, indicating higher volatility than historical averages.

Recent insider selling could signal a lack of confidence in the near-term outlook, which the market may not be fully accounting for.

Key Risk

If home sales volume exceeds expectations significantly, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Opendoor can turn around its recent performance and regain market confidence.

Bull Confirmed If

A reported EPS of -$0.10 or better, coupled with a significant increase in home sales volume, would confirm the bull case.

Bear Confirmed If

An EPS worse than -$0.20 and stagnant or declining home sales volume would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±13.62%

Historical Avg

±5.0%

Pricing rich

The options market is pricing in a significant potential move, indicating that traders expect volatility around the earnings announcement.

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

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$50,487.78

10,866 sh

1 insider

Net

$50,487.78

Net selling

Most Active Insiders· 1 open-market trade

Chief Operating OfficerNguyen Giang
$50,487.78

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Opendoor beats expectations, history suggests a potential average one-day move of +2.59%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

A miss could lead to a decline, with history suggesting an average one-day drop of -3.80%, reflecting ongoing concerns about profitability.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·1 sell

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

D-LACleo FieldsRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on operational efficiency improvements.
2Any guidance on future home sales volume.
3Insights into market conditions affecting real estate.
4Details on customer acquisition strategies.
5Management's outlook on profitability for the next quarter.

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Company Snapshot

Opendoor Technologies Inc. is a real estate services company that simplifies the home buying and selling process through technology....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well the company is managing its costs and revenues.

N/A

Revenue Growth

Revenue growth will indicate how well Opendoor is capturing market share and responding to consumer demand in the real estate market.

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 expectations. The stock reacted negatively, dropping 2.56% the following day.

Management Promises & Guidance

Focus on improving operational efficiency.
Commitment to enhancing customer experience.
Plans to expand market presence in key regions.

Expectations

Wall Street Expectations

Overall, Wall Street is cautious about Opendoor's upcoming earnings, especially after recent misses. Investors are looking for signs of recovery in profitability and sales.

Bull Case

If Opendoor can show a significant rebound in home sales and better-than-expected EPS, it could restore investor confidence and drive the stock higher.

Bear Case

Conversely, if the company continues to report losses and fails to demonstrate growth in sales volume, it could lead to further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported EPS and how does it compare to expectations?

Given the company's recent history of missing EPS estimates, this will be a critical indicator of its financial health.

How has the home sales volume changed this quarter?

This metric will provide insight into the company's operational performance and market demand, which are crucial for future growth.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Opendoor's potential for a turnaround, especially if operational efficiencies lead to improved margins.

Supporting Evidence

The options market is pricing a 13.62% move, indicating higher volatility than historical averages.

Recent insider selling could signal a lack of confidence in the near-term outlook, which the market may not be fully accounting for.

Key Risk

If home sales volume exceeds expectations significantly, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Opendoor can turn around its recent performance and regain market confidence.

Bull Confirmed If

A reported EPS of -$0.10 or better, coupled with a significant increase in home sales volume, would confirm the bull case.

Bear Confirmed If

An EPS worse than -$0.20 and stagnant or declining home sales volume would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±13.62%

Historical Avg

±5.0%

Pricing rich

The options market is pricing in a significant potential move, indicating that traders expect volatility around the earnings announcement.

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

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$50,487.78

10,866 sh

1 insider

Net

$50,487.78

Net selling

Most Active Insiders· 1 open-market trade

Chief Operating OfficerNguyen Giang
$50,487.78

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Opendoor beats expectations, history suggests a potential average one-day move of +2.59%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

A miss could lead to a decline, with history suggesting an average one-day drop of -3.80%, reflecting ongoing concerns about profitability.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·1 sell

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

D-LACleo FieldsRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on operational efficiency improvements.
2Any guidance on future home sales volume.
3Insights into market conditions affecting real estate.
4Details on customer acquisition strategies.
5Management's outlook on profitability for the next quarter.