Opendoor Technologies (OPEN) Cost of Revenue (2019 - 2026)
Opendoor Technologies' Cost of Revenue was $797 million in Q2 2026, down 44.6% from $1.44 billion a year earlier but up 23.0% from the prior quarter.
Opendoor Technologies (OPEN) Cost of Revenue (2019 - 2026) Analysis & Trends
On a trailing twelve-month basis, Opendoor Technologies' Cost of Revenue was $2.97 billion through Jun 30, 2026, down 37.6% year-over-year; for FY2025, it was $4.02 billion, down 14.8% from FY2024.
- Cost of Revenue has now declined for three consecutive years, though with a five-year compound annual growth rate of 11.2% (FY2020 to FY2025).
- In earlier years, Cost of Revenue was $4.72 billion in FY2024 (-26.9%), $6.46 billion in FY2023 (-56.7%), $14.9 billion in FY2022 (+104.4%) and $7.29 billion in FY2021 (+208.5%).
- Quarterly Cost of Revenue has moved between $648 million (Q1 2026) and $4.62 billion (Q1 2022) over five years.
- Compared with a year earlier, Cost of Revenue has declined for four straight quarters, with an average decline of 9.6% over the last eight quarters.
- The best year-over-year quarter for Cost of Revenue over five years was Q1 2022 (growth of 610.2%); the worst was Q3 2023 (a decline of 76.7%).
- Per Business Quant data, OPEN's Cost of Revenue in the three quarters before Q2 2026 was $648 million (Q1 2026), $679 million (Q4 2025) and $849 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Texas Pacific Land | 23.35 Bn | 22.18 Bn | - | - |
| 2 | LandBridge | 6.08 Bn | 6.42 Bn | - | - |
| 3 | St Joe | 3.85 Bn | 3.35 Bn | 73.42 Mn | 85.41 Mn |
| 4 | ETF Managers Trust | 3.80 Bn | -3.56 Bn | - | - |
| 5 | Millrose Properties | 3.68 Bn | 3.32 Bn | - | - |
| 6 | Vesta Real Estate Corporation, S.A.B. de C.V | 3.22 Bn | 2.03 Bn | - | - |
| 7 | Opendoor Technologies | 1.92 Bn | -1.90 Bn | 86.00 Mn | 797.00 Mn |
| 8 | Forestar | 1.33 Bn | -20.06 Mn | 84.10 Mn | 322.90 Mn |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 797.00 Mn |
| Mar 31, 2026 | 648.00 Mn |
| Dec 31, 2025 | 679.00 Mn |
| Sep 30, 2025 | 849.00 Mn |
| Jun 30, 2025 | 1.44 Bn |
| Mar 31, 2025 | 1.05 Bn |
| Dec 31, 2024 | 999.00 Mn |
| Sep 30, 2024 | 1.27 Bn |
| Jun 30, 2024 | 1.38 Bn |
| Mar 31, 2024 | 1.07 Bn |
| Dec 31, 2023 | 798.00 Mn |
| Sep 30, 2023 | 884.00 Mn |
| Jun 30, 2023 | 1.83 Bn |
| Mar 31, 2023 | 2.95 Bn |
| Dec 31, 2022 | 2.79 Bn |
| Sep 30, 2022 | 3.79 Bn |
| Jun 30, 2022 | 3.71 Bn |
| Mar 31, 2022 | 4.62 Bn |
| Dec 31, 2021 | 3.55 Bn |
| Sep 30, 2021 | 2.06 Bn |
Opendoor Technologies Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=OPEN&period=max&api_key=YOUR_API_KEY
import requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "OPEN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()
const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=OPEN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();