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.
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Analysis
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 Set
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
Download Data
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 |
API Access
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_KEYimport 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();