Opendoor (OPEN) Q2 2025 Earnings Call Transcript

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Tuesday, August 5, 2025 astatine 5 p.m. ET

• Chief Executive Officer — Carrie A. Wheeler

• Chief Financial Officer — Selim Freiha

• Head of Investor Relations — Michael Judd

Michael Judd: Thank you, and bully afternoon. Details of our results and further absorption commentary are disposable successful our net merchandise and shareholder letter, which tin beryllium recovered connected the Investor Relations conception of our website astatine investor.opendoor.com. Please enactment that this telephone volition beryllium simultaneously webcast connected the Investor Relations conception of the company's firm website. Before we start, I would similar to punctual you that the pursuing treatment contains forward-looking statements wrong the meaning of the national securities laws.

All statements different than statements of humanities information are statements that could beryllium deemed forward-looking, including, but not constricted to, statements regarding Opendoor's fiscal condition, anticipated fiscal performance, concern strategy and plans, marketplace accidental and enlargement and absorption objectives for aboriginal operations. These statements are neither promises nor guarantees and undue reliance should not beryllium placed connected them. Such forward-looking statements impact risks and uncertainties that whitethorn origin existent results to disagree materially from those discussed here.

Additional accusation that could origin existent results to disagree from forward-looking statements tin beryllium recovered successful the Risk Factors conception of Opendoor's astir caller yearly study connected Form 10-K for the twelvemonth ended December 31, 2024, arsenic updated by our quarterly study connected Form 10-Q for the 4th ended June 30, 2025, and different filings with the SEC. Any forward-looking statements made connected this league call, including responses to your questions, are based connected management's tenable existent expectations and assumptions arsenic of today, and Opendoor assumes nary work to update oregon revise them, whether arsenic a effect of caller information, aboriginal events oregon otherwise, but arsenic required by law. The pursuing treatment contains references to definite non-GAAP fiscal measures.

The institution believes these non-GAAP fiscal measures are utile to investors arsenic supplemental operational measurements to measure the company's fiscal performance. For a reconciliation of these non-GAAP fiscal measures to the astir straight comparable GAAP metric, delight spot our website astatine investor.opendoor.com. I volition present crook the telephone implicit to Carrie Wheeler, Chief Executive Officer of Opendoor.