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Opendoor (OPEN)

Opendoor’s mission is to empower everyone with the freedom to move. Since 2014, Opendoor has provided people across the U.S. with a radically simple way to buy, sell or trade-in a home. Opendoor operates in a growing number of markets across the U.S.

Company profile

Ticker
OPEN
Exchange
CEO
Chamath Palihapitiya
Employees
Incorporated
Location
Fiscal year end
Former names
Social Capital Hedosophia Holdings Corp. II
SEC CIK
Subsidiaries
Digital Opendoor Insurance Services LLC • Domus Labs Inc. • OD Arizona D LLC • OD Equity Owner D LLC • OD Homes Brokerage Inc • OD Intermediate Holdco C LLC • OD Intermediate SUBI Holdco I LLC • OD Intermediate SUBI Holdco II LLC • OD Intermediate SUBI Holdco IV LLC • OD Intermediate SUBI Holdco V LLC ...
IRS number
981515020

OPEN stock data

Calendar

4 Aug 22
28 Sep 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 2.85B 2.85B 2.85B 2.85B 2.85B 2.85B
Cash burn (monthly) (no burn) (no burn) 17.67M 16.16M 631M 318.75M
Cash used (since last report) n/a n/a 52.17M 47.73M 1.86B 941.32M
Cash remaining n/a n/a 2.8B 2.81B 990.55M 1.91B
Runway (months of cash) n/a n/a 158.6 173.6 1.6 6.0

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
16 Sep 22 Wheeler Carrie Common Stock Sell Dispose S No Yes 4.0648 115,378 468.99K 4,130,645
17 Aug 22 Ah Kee Andrew Low Common Stock Sell Dispose S No Yes 5.265 183,782 967.61K 3,518,046
17 Aug 22 Eric Chung-Wei Wu Common Stock Sell Dispose S No Yes 5.265 82,288 433.25K 33,196,702
11 Aug 22 Jonathan M Jaffe Common Stock Gift Dispose G Yes No 0 12,277 0 25,543
13F holders Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Largest transactions Shares Bought/sold Change

Financial report summary

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Competition
Anywhere Real EstateRE/MAX
Risks
  • The extent to which the pandemic caused by COVID-19 and its variants will impact our future operations is highly uncertain and cannot be predicted at this time.
  • Our business and operating results may be significantly impacted by general economic conditions, the health of the U.S. residential real estate industry and risks associated with our real estate assets.
  • We have a history of losses, and we may not achieve or maintain profitability in the future.
  • Our limited operating history makes it difficult to evaluate our current business and future prospects.
  • We operate in a competitive and fragmented industry, which could impair our ability to attract users of our products, which could harm our business, results of operations and financial condition.
  • Failures by our perceived competitors may adversely impact Opendoor.
  • We have experienced rapid growth since inception which may not be indicative of our future growth and, if we continue to grow rapidly, we may not be able to manage our growth effectively.
  • Our business is dependent upon our ability to appropriately price and manage our portfolio of inventory. An ineffective pricing or portfolio management strategy may have a material adverse effect on our business, sales, and results of operations.
  • Our business is dependent upon our ability to expeditiously sell inventory. Failure to expeditiously sell our inventory could have an adverse effect on our business, sales and results of operations.
  • Launches of new product or service offerings, and expansions of existing product and servicing offerings, may consume significant financial and other resources and may not achieve the desired results.
  • Our business model and growth strategy depend on our marketing efforts and ability to attract buyers and sellers to our platform in a cost-effective manner.
  • A significant portion of our costs and expenses are fixed, and we may not be able to adapt our cost structure to offset declines in our revenue.
  • Our growth depends in part on the success of our strategic relationships with third parties.
  • The loss of one or more of our key personnel, or our failure to attract and retain other highly qualified personnel in the future, could harm our business.
  • Declining real estate values could result in recording inventory valuation adjustments and may also adversely affect our financial condition and operating results.
  • Our business is concentrated in certain geographic markets. Exposure to local economies, regional economic downturns, severe weather or catastrophic occurrences, or other disruptions or events may materially adversely affect our financial condition and results of operations.
  • Our business is dependent upon access to desirable inventory. Obstacles to acquiring attractive inventory, whether because of supply, competition, or other factors may have a material adverse effect on our business, sales and results of operations.
  • Reductions in the availability of mortgage financing provided by government agencies, changes in government financing programs, or an increase in mortgage interest rates could decrease our buyers’ ability or desire to obtain financing and adversely affect our business or financial results.
  • We rely on third parties to renovate and repair homes before we resell the homes, and the cost or availability of third-party labor could adversely affect our holding period and investment return for homes.
  • We may acquire other businesses which could require significant management attention, disrupt our business, dilute stockholder value and adversely affect our operating results.
  • A health and safety incident relating to our operations could be costly in terms of potential liability and reputational damage.
  • Environmentally hazardous conditions may adversely affect us.
  • Some of our potential losses may not be covered by insurance. We may not be able to obtain or maintain adequate insurance coverage.
  • Any significant disruption in service in our computer systems and third-party networks and mobile infrastructure that we depend on could result in a loss of customers and we may be unable to maintain and scale the technology underlying our offerings.
  • We process, store and use personal information and other data, which subjects us to governmental regulation and other legal obligations related to privacy, and violation of these privacy obligations could result in a claim for damages, regulatory action, loss of business, or unfavorable publicity.
  • Failure to protect our trade secrets, know-how, proprietary applications, business processes and other proprietary information, could adversely affect the value of our technology and products.
  • In the future we may be party to intellectual property rights claims and other litigation which are expensive to support, and if resolved adversely, could have a significant impact on us.
  • Our services utilize third-party open source software components, which may pose particular risks to our proprietary software, technologies, products and services in a manner that could negatively affect our business.
  • We rely on licenses to use the intellectual property rights of third parties which are incorporated into our products and services. Failure to renew or expand existing licenses may require us to modify, limit or discontinue certain offerings, which could materially affect our business, financial condition and results of operations.
  • Our software is highly complex and may contain undetected errors.
  • We operate in a highly regulated industry and are subject to a wide range of federal, state and local laws, rules and regulations. Failure to comply with these laws, rules and regulations or to obtain and maintain required licenses, could adversely affect our business, financial condition and results of operations.
  • Our business is subject to the risks of international operations.
  • The Company is currently seeking to resolve an FTC investigation through consent order negotiations with the FTC, and the terms of a consent order (if any) could have a materially adverse effect on the Company’s business.
  • Our risk management efforts may not be effective.
  • We rely on assumptions, estimates, and business data to calculate our key performance indicators and other business metrics, and real or perceived inaccuracies in these metrics may harm our reputation and negatively affect our business.
  • Our results of operations and financial condition are subject to management’s accounting judgments and estimates, as well as changes in accounting policies.
  • Our management is required to evaluate the effectiveness of our internal control over financial reporting. If we are unable to maintain effective internal control over financial reporting, investors may lose confidence in the accuracy of our financial reports.
  • We could be subject to additional tax liabilities and our ability to use net operating loss carryforwards and other tax attributes may be limited in connection with the Business Combination or other ownership changes.
  • We may need additional capital to pursue our business objectives and respond to business opportunities, challenges or unforeseen circumstances, and we cannot be sure that additional financing will be available.
  • We utilize a significant amount of debt and financing arrangements in the operation of our business, and so our cash flows and operating results could be adversely affected by required payments of debt or related interest and other risks of our debt financing.
  • We rely on agreements with third parties to finance our business.
  • We intend to rely on proceeds from the sale of financed homes to repay amounts owed under our property financing facilities, but such proceeds may not be available or may be insufficient to repay the amounts when they become due.
  • Covenants in our debt agreements may restrict our borrowing capacity and/or operating activities and adversely affect our financial condition.
  • Our debt facilities contain cross defaults and similar provisions that could cause us to be in default under multiple debt facilities or otherwise lose access to financing for new homes and excess proceeds from sales of homes in the event we default under a single facility.
  • We may use derivatives and other instruments to reduce our exposure to interest fluctuations and those derivatives and other instruments may not prove to be effective.
  • When the London Inter-Bank Offered Rate (“LIBOR”) is discontinued, interest payments under our senior revolving credit facilities and our mortgage repurchase facility may be calculated using another reference rate.
  • Failure to hedge effectively against interest rate changes may adversely affect our results of operations.
  • The price of our common stock may be volatile.
  • We do not intend to pay cash dividends for the foreseeable future.
  • Catastrophic events may disrupt our business.
  • Cybersecurity incidents could disrupt our business or result in the loss of critical and confidential information.
  • Our fraud detection processes and information security systems may not successfully detect all fraudulent activity by third parties aimed at our employees or customers, which could adversely affect our reputation and business results.
  • We are from time to time involved in, or may in the future be subject to, claims, suits, government investigations, and other proceedings that may result in adverse outcomes.
  • We may be subject to securities litigation, which is expensive and could divert management attention.
Management Discussion
  • N/M - Not meaningful.
  • OPENDOOR TECHNOLOGIES INC.
  • N/M - Not meaningful.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
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