Equity Profile

OPEN

Opendoor Technologies Inc.

Real EstateReal Estate Services$3.6B

Aug6Thu

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Opendoor Technologies Inc. operates in the real estate sector, focusing on simplifying the home buying and selling process through technology....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well Opendoor is managing its costs.

-$0.04

Revenue

Revenue figures will provide insight into the company's sales performance and market demand for its services.

$1.1B

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

OPEN Q2-2026 Earnings Preview

Context

Company Snapshot

Opendoor Technologies Inc. operates in the real estate sector, focusing on simplifying the home buying and selling process through technology. As a leader in the iBuyer space, it plays a crucial role in the evolving landscape of real estate services, especially as consumer preferences shift towards digital solutions.

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 through technology.
Plans to expand market presence in key regions.

Expectations

Wall Street Expectations

Analysts expect Opendoor to report a slight improvement in EPS this quarter, with revenue holding steady. The market is closely watching for signs of recovery in the housing market.

Bull Case

If Opendoor can beat EPS expectations and show strong revenue growth, it could signal a rebound in demand and operational efficiency, boosting investor confidence.

Bear Case

Conversely, if the company misses on earnings and shows weak revenue, it may raise concerns about its business model and market conditions, leading to further stock declines.

Key Metrics to Watch

EPS

-$0.04

Earnings per share is a key indicator of profitability and will show how well Opendoor is managing its costs.

Revenue

$1.1B

Revenue figures will provide insight into the company's sales performance and market demand for its services.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Opendoor achieve an EPS of -$0.04 or better?

This specific EPS target is crucial as it reflects the company's ability to manage costs and improve profitability in a challenging market.

What revenue figures will Opendoor report compared to the $1.1B consensus?

Revenue is a key indicator of demand for Opendoor's services and will influence investor sentiment regarding the company's growth potential.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for a rebound in housing demand, which could lead to better-than-expected revenue figures this quarter.

Supporting Evidence

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

Historical data shows that the company has a 63% EPS beat rate, suggesting a higher likelihood of positive surprises.

Recent trends in the housing market indicate a potential uptick in activity that could benefit Opendoor.

Key Risk

If revenue comes in significantly above $1.1B, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical as it will indicate whether Opendoor can stabilize its operations and adapt to market conditions.

Bull Confirmed If

Achieving an EPS of -$0.04 or better with revenue exceeding $1.1B would confirm a positive outlook.

Bear Confirmed If

An EPS worse than -$0.05 and revenue below $1.1B would support concerns about the company's viability.

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 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)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Opendoor beats expectations, history suggests the stock could rise by about 2.44% on the following day, confirming a recovery narrative.

In-Line / Cautious

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

Miss

A miss could lead to a decline of around 3.80%, reflecting ongoing concerns about the company's performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on operational efficiency improvements.
2Insights into customer demand trends in the housing market.
3Management's outlook on future market conditions.
4Details on geographic expansion efforts.
5Responses to competitive pressures in the iBuyer space.

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Company Snapshot

Opendoor Technologies Inc. operates in the real estate sector, focusing on simplifying the home buying and selling process through technology....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well Opendoor is managing its costs.

-$0.04

Revenue

Revenue figures will provide insight into the company's sales performance and market demand for its services.

$1.1B

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 through technology.
Plans to expand market presence in key regions.

Expectations

Wall Street Expectations

Analysts expect Opendoor to report a slight improvement in EPS this quarter, with revenue holding steady. The market is closely watching for signs of recovery in the housing market.

Bull Case

If Opendoor can beat EPS expectations and show strong revenue growth, it could signal a rebound in demand and operational efficiency, boosting investor confidence.

Bear Case

Conversely, if the company misses on earnings and shows weak revenue, it may raise concerns about its business model and market conditions, leading to further stock declines.

Key Metrics to Watch

EPS

-$0.04

Earnings per share is a key indicator of profitability and will show how well Opendoor is managing its costs.

Revenue

$1.1B

Revenue figures will provide insight into the company's sales performance and market demand for its services.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Opendoor achieve an EPS of -$0.04 or better?

This specific EPS target is crucial as it reflects the company's ability to manage costs and improve profitability in a challenging market.

What revenue figures will Opendoor report compared to the $1.1B consensus?

Revenue is a key indicator of demand for Opendoor's services and will influence investor sentiment regarding the company's growth potential.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for a rebound in housing demand, which could lead to better-than-expected revenue figures this quarter.

Supporting Evidence

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

Historical data shows that the company has a 63% EPS beat rate, suggesting a higher likelihood of positive surprises.

Recent trends in the housing market indicate a potential uptick in activity that could benefit Opendoor.

Key Risk

If revenue comes in significantly above $1.1B, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical as it will indicate whether Opendoor can stabilize its operations and adapt to market conditions.

Bull Confirmed If

Achieving an EPS of -$0.04 or better with revenue exceeding $1.1B would confirm a positive outlook.

Bear Confirmed If

An EPS worse than -$0.05 and revenue below $1.1B would support concerns about the company's viability.

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 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)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Opendoor beats expectations, history suggests the stock could rise by about 2.44% on the following day, confirming a recovery narrative.

In-Line / Cautious

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

Miss

A miss could lead to a decline of around 3.80%, reflecting ongoing concerns about the company's performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on operational efficiency improvements.
2Insights into customer demand trends in the housing market.
3Management's outlook on future market conditions.
4Details on geographic expansion efforts.
5Responses to competitive pressures in the iBuyer space.