Opendoor Technologies Inc
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
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FY2023 · Filed Feb 15, 2024
OPEN$1.31-7.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net loss | $(275) | $(1,353) | $(662) |
| Adjustments to reconcile net loss to cash, cash equivalents, and restricted cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 65 | 83 | 47 |
| Amortization of right of use asset | 7 | 7 | 8 |
| Stock-based compensation | 126 | 171 | 536 |
| Warrant fair value adjustment | — | — | (12) |
| Inventory valuation adjustment | 65 | 737 | 56 |
| Goodwill impairment | — | 60 | — |
| Changes in fair value of equity securities | 1 | 35 | (35) |
| Other | 13 | (1) | (9) |
| Origination of mortgage loans held for sale | — | (118) | (196) |
| Proceeds from sale and principal collections of mortgage loans held for sale | 1 | 128 | 197 |
| (Gain) loss on early extinguishment of debt | (216) | 25 | — |
| Changes in operating assets and liabilities: | |||
| Escrow receivable | 21 | 54 | (83) |
| Real estate inventory | 2,613 | 896 | (5,656) |
| Other assets | (19) | 37 | (52) |
| Accounts payable and other accrued liabilities | (38) | (25) | 76 |
| Interest payable | (10) | 2 | 4 |
| Lease liabilities | (10) | (8) | (13) |
| Net cash provided by (used in) operating activities | 2,344 | 730 | (5,794) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchase of property and equipment | (37) | (37) | (33) |
| Purchase of intangible assets | — | — | (1) |
| Purchase of marketable securities | — | (28) | (486) |
| Proceeds from sales, maturities, redemptions and paydowns of marketable securities | 80 | 328 | 92 |
| Purchase of non-marketable equity securities | — | (25) | (15) |
| Proceeds from sale of non-marketable equity securities | 1 | 3 | — |
| Capital returns from non-marketable equity securities | — | 3 | — |
| Acquisitions, net of cash acquired | — | (10) | (33) |
| Net cash provided by (used in) investing activities | 44 | 234 | (476) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from issuance of convertible senior notes, net of issuance costs | — | — | 953 |
| Repurchase of convertible senior notes | (362) | — | — |
| Purchase of capped calls related to the convertible senior notes | — | — | (119) |
| Proceeds from exercise of stock options | 3 | 4 | 15 |
| Proceeds from issuance of common stock for ESPP | 2 | 2 | — |
| Proceeds from warrant exercise | — | — | 22 |
| Proceeds from the February 2021 Offering | — | — | 886 |
| Issuance cost of common stock | — | — | (29) |
| Proceeds from non-recourse asset-backed debt | 238 | 10,108 | 11,499 |
| Principal payments on non-recourse asset-backed debt | (2,515) | (11,822) | (5,838) |
| Proceeds from other secured borrowings | — | 114 | 192 |
| Principal payments on other secured borrowings | — | (121) | (192) |
| Payment of loan origination fees and debt issuance costs | (1) | (26) | (47) |
| Payment for early extinguishment of debt | (4) | (10) | — |
| Net cash (used in) provided by financing activities | (2,639) | (1,751) | 7,342 |
| NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | (251) | (787) | 1,072 |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – Beginning of year | 1,791 | 2,578 | 1,506 |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – End of year | $1,540 | $1,791 | $2,578 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION – Cash paid during the period for interest | $203 | $355 | $122 |
| DISCLOSURES OF NONCASH FINANCING ACTIVITIES: | |||
|---|---|---|---|
| Stock-based compensation expense capitalized for internally developed software | $23 | $16 | $12 |
| Issuance of common stock in extinguishment of warrant liabilities | $— | $— | $(35) |
| RECONCILIATION TO CONSOLIDATED BALANCE SHEETS: | |||
| Cash and cash equivalents | $999 | $1,137 | $1,731 |
| Restricted cash | 541 | 654 | 847 |
| Cash, cash equivalents, and restricted cash | $1,540 | $1,791 | $2,578 |
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