Opendoor Technologies Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 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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Condensed Consolidated Statements of Cash Flows
(In millions)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net loss | $(279) | $(184) |
| Adjustments to reconcile net loss to cash, cash equivalents, and restricted cash (used in) provided by operating activities: | ||
| Depreciation and amortization | 37 | 50 |
| Amortization of right of use asset | 4 | 5 |
| Stock-based compensation | 91 | 94 |
| Inventory valuation adjustment | 51 | 54 |
| Changes in fair value of equity securities | 7 | 4 |
| Other | 6 | 6 |
| Proceeds from sale and principal collections of mortgage loans held for sale | — | 1 |
| Loss (gain) on extinguishment of debt | 1 | (182) |
| Gain on deconsolidation, net | (14) | — |
| Changes in operating assets and liabilities: | ||
| Escrow receivable | (6) | 19 |
| Real estate inventory | (422) | 3,082 |
| Other assets | 9 | (15) |
| Accounts payable and other accrued liabilities | 4 | (29) |
| Interest payable | 1 | (10) |
| Lease liabilities | (5) | (9) |
| Net cash (used in) provided by operating activities | (515) | 2,886 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchase of property and equipment | (22) | (28) |
| Proceeds from sales, maturities, redemptions and paydowns of marketable securities | 55 | 75 |
| Proceeds from sale of non-marketable equity securities | — | 1 |
| Cash impact of deconsolidation of subsidiaries | (2) | — |
| Net cash provided by investing activities | 31 | 48 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Repurchase of convertible senior notes | — | (270) |
| Proceeds from exercise of stock options | — | 2 |
| Proceeds from issuance of common stock for ESPP | 5 | 2 |
| Proceeds from non-recourse asset-backed debt | 417 | 238 |
| Principal payments on non-recourse asset-backed debt | (424) | (2,315) |
| Payment for early extinguishment of debt | — | (4) |
| Net cash used in financing activities | (2) | (2,347) |
| NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | (486) | 587 |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – Beginning of period | 1,540 | 1,791 |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – End of period | $1,054 | $2,378 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION – Cash paid during the period for interest | $93 | $169 |
| DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES: | ||
| Stock-based compensation expense capitalized for internally developed software | $15 | $17 |
| Investment in non-marketable equity securities due to deconsolidation | $39 | $— |
| RECONCILIATION TO CONDENSED CONSOLIDATED BALANCE SHEETS: | ||
| Cash and cash equivalents | $829 | $1,154 |
| Restricted cash | 225 | 1,224 |
| Cash, cash equivalents, and restricted cash | $1,054 | $2,378 |
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