Opendoor Technologies Inc. 2025年季度报告

Washington, D.C. 20549FORM10-Q (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number001-39253 Opendoor Technologies Inc. (Exact name of registrant as specified in its charter) Delaware 30-1318214 Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ The number of shares of registrant’s common stock outstanding as of April29, 2025 was approximately728,896,889. TABLE OF CONTENTS OPENDOOR TECHNOLOGIES INC. As used in this Quarterly Report on Form10-Q, unless the context requires otherwise, references to “Opendoor,” the“Company,” “we,” “us,” and “our,” and similar references refer to Opendoor Technologies Inc. and its wholly owned subsidiaries FORWARD-LOOKING STATEMENTS This Quarterly Report on Form10-Q contains forward-looking statements within the meaning of Section 27A of the SecuritiesAct of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “ExchangeAct”). All statements other than statements of historical facts contained in this Quarterly Report on Form10-Q, including, withoutlimitation, statements regarding: current and future health and stability of the real estate housing market and general economy;volatility of mortgage interest rates, changes in resale clearance rates and expectations regarding future behavior of consumers andpartners; the health and status of our financial condition and expectations with respect to our debt and equity financing; anticipatedfuture results of operations or financial performance; priorities of the Company to achieve future financial and business goals; impactsto our business from political and regulatory activity, including potential increased tariffs; our ability to continue to effectivelynavigate the markets in which we operate; anticipated future and ongoing impacts and benefits of acquisitions, partnership channelexpansions, product innovations and other business decisions; health of our balance sheet to weather ongoing market transitions and These forward-looking statements are based on information available as of the date of this Quarterly Report on Form10-Q andcurrent expectations, forecasts and assumptions, which involve a number of judgments, risks and uncertainties, including without •the current and future health and stability of the economy, financial conditions and residential housing market, including anyextended downturns or slowdowns;•changes in general economic and financial conditions (including federal monetary policy, the imposition of tariffs and priceor exchange controls, interest rates, inflation, actual or anticipated recession, home price fluctuations, and housing inventory),as well as the probability of such changes occurring, that may impact demand for our products and services, lower ourprofitability or reduce our access to future financings;•our real estate assets and increased competition in the U.S. residential real estate industry;•ability to operate and grow our core business products, including the ability to obtain sufficient financing and resellpurchased homes;•investment of resources to pursue strategies and develop new products and services that may not prove effective or that arenot attractive to customers and real estate partners or that do not allow us to compete successfully;•our ability to acquire and resell homes profitably;•our ability to grow market share in our existing markets or any new markets we may enter; TABLE OF CONTENTS OPENDOOR TECHNOLOGIES INC. •our ability to comply with multiple listing service rules and requirements to access and use listing data, and to maintain orest