Opendoor Technologies (OPEN) Operating Expenses (2020 - 2026)
Opendoor Technologies' Operating Expenses came in at $230 million for Q2 2026, up 63.1% from $141 million a year earlier but down 0.4% from the prior quarter.
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Analysis
Opendoor Technologies (OPEN) Operating Expenses (2020 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Opendoor Technologies reported Operating Expenses of $802 million, up 24.0% year-over-year; for FY2025, it came in at $637 million, down 15.4% from FY2024.
- Operating Expenses has declined in each of the last three years, though with a five-year compound annual growth rate of 9.4% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $753 million in FY2024 (-13.7%), $873 million in FY2023 (-45.4%), $1.6 billion in FY2022 (+23.1%) and $1.3 billion in FY2021 (+219.7%).
- The five-year range for quarterly Operating Expenses is $134 million (Q3 2025) to $454 million (Q2 2022).
- Year-over-year, Operating Expenses has increased for three consecutive quarters, with growth averaging 5.9% over the last eight quarters.
- The fastest year-over-year change in Operating Expenses over five years came in Q4 2021 (growth of 256.8%), and the weakest in Q3 2023 (a decline of 54.5%).
- Business Quant data shows OPEN's Operating Expenses at $231 million (Q1 2026), $207 million (Q4 2025) and $134 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Texas Pacific Land | 23.31 Bn | 22.14 Bn | - | 54.24 Mn |
| 2 | Eason Technology | 6.61 Bn | 6.61 Bn | - | - |
| 3 | LandBridge | 6.20 Bn | 6.54 Bn | 65.71 Mn | 15.90 Mn |
| 4 | Millrose Properties | 4.06 Bn | 4.06 Bn | - | 29.22 Mn |
| 5 | St Joe | 3.76 Bn | 3.26 Bn | 73.42 Mn | 104.06 Mn |
| 6 | Vesta Real Estate Corporation, S.A.B. de C.V | 2.89 Bn | 2.89 Bn | - | -8.70 Mn |
| 7 | Opendoor Technologies | 2.35 Bn | -1.47 Bn | 86.00 Mn | 230.00 Mn |
| 8 | Forestar | 1.34 Bn | -3.23 Mn | 84.10 Mn | 38.30 Mn |
| 9 | Five Point Holdings | 705.60 Mn | 734.37 Mn | -23.72 Mn | 21.49 Mn |
| 10 | Tejon Ranch | 443.42 Mn | 378.40 Mn | - | 13.91 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 230.00 Mn |
| Mar 31, 2026 | 231.00 Mn |
| Dec 31, 2025 | 207.00 Mn |
| Sep 30, 2025 | 134.00 Mn |
| Jun 30, 2025 | 141.00 Mn |
| Mar 31, 2025 | 155.00 Mn |
| Dec 31, 2024 | 179.00 Mn |
| Sep 30, 2024 | 172.00 Mn |
| Jun 30, 2024 | 201.00 Mn |
| Mar 31, 2024 | 201.00 Mn |
| Dec 31, 2023 | 187.00 Mn |
| Sep 30, 2023 | 175.00 Mn |
| Jun 30, 2023 | 217.00 Mn |
| Mar 31, 2023 | 294.00 Mn |
| Dec 31, 2022 | 342.00 Mn |
| Sep 30, 2022 | 385.00 Mn |
| Jun 30, 2022 | 454.00 Mn |
| Mar 31, 2022 | 417.00 Mn |
| Dec 31, 2021 | 374.00 Mn |
| Sep 30, 2021 | 271.00 Mn |
API Access
Opendoor Technologies Operating Expenses 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=operating-expenses&ticker=OPEN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=OPEN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();