Opendoor (NASDAQ: OPEN) reported Q1 EPS of ($0.18), $0.08 worse than the analyst estimate of ($0.10). Revenue for the quarter came in at $720 million versus the consensus estimate of $983.8 million.

Financial Outlook

We're focused on making the right long-term decisions to rebuild Opendoor rather than managing to short-term guidance. We're making meaningful progress and remain focused on execution. With that context, we want to provide you with the following guideposts:

We are driving to Adjusted Net Income positive by the end of 2026, measured on a 12-month go-forward basis.
Q2 2026 Financial Outlook:

Acquisitions: You can track our acquisition contracts on accountable.opendoor.com2.
Revenue: We expect revenue growth of approximately 25% quarter-over-quarter.
Contribution Margin3: Our Contribution Margin bottomed out in September 2025 and has been improving every month since. We expect Contribution Margin for Q2 2026 to fall in the middle of our 5-7% targeted Contribution Margin range.
Adjusted EBITDA3: We expect to be Adjusted EBITDA breakeven for Q2 2026, plus or minus a few million. We expect to be Adjusted EBITDA profitable on a 12-month go-forward basis starting in Q2 2026.

For earnings history and earnings-related data on Opendoor (OPEN) click here.