Opendoor Technologies Inc.
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 19, 2026
OPEN$1.41+0.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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ITEM 15. EXHIBIT
(a)Documents files as part of this Annual Report on Form 10-K:
- Financial Statements
Refer to Index to Consolidated Financial Statements in “Part II – Item 8. Financial Statements and Supplementary Data” herein.
- Financial Statement Schedules
Pursuant to the requirements of Rule 5-04(c) of Regulation S-X, the following schedule is filed as part of this Annual Report on Form 10-K and should be read in conjunction with the financial statements contained in “Part II – Item 8. Financial Statements and Supplementary Data” herein.
Schedule I – Condensed Financial Information of Opendoor Technologies Inc. (Parent Company)
All other financial statement schedules for the Company have been included in the consolidated financial statements or the related footnotes, or are either inapplicable or not required.
- Exhibits †
The following is a list of exhibits filed as part of this Annual Report on Form 10-K.
| ExhibitNo. · Description · Form · File No. · Exhibit · Filing Date · Filed Herewith | |||||||
|---|---|---|---|---|---|---|---|
| 3.1 | Certificate of Incorporation of Opendoor Technologies Inc. | 8-K | 001-39253 | 3.1 | 12/18/2020 | ||
| 3.2 | Amended and Restated Bylaws of Opendoor Technologies Inc. | 8-K | 001-39253 | 3.1 | 01/24/2023 | ||
| 4.1 | Specimen Common Stock Certificate of Opendoor Technologies Inc. | S-4/A | 333-249302 | 4.5 | 11/06/2020 | ||
| 4.2 | Warrant to Purchase Shares of Common Stock of Opendoor Technologies Inc., dated July 28, 2022, to Zillow, Inc. | 8-K | 001-39253 | 99.2 | 08/05/2022 | ||
| 4.3 | Indenture, dated as of August 20, 2021, between Opendoor Technologies Inc. and U.S. Bank National Association, as trustee | 8-K | 001-39253 | 4.1 | 08/24/2021 | ||
| 4.4 | Indenture, dated as of May 16, 2025, between Opendoor Technologies Inc. and U.S. Bank Trust Company, National Association, as Trustee. | 8-K | 001-39253 | 4.1 | 05/19/2025 | ||
| 4.5 | Form of 7.000% Convertible Senior Notes due 2030. | 8-K | 001-39253 | Exhibit A to 4.1 | 05/19/2025 | ||
| 4.6 | Warrant Agreement (including Form of Warrant), dated November 21, 2025, by and between the Company and Equiniti Trust Company, LLC, as Warrant Agent. | 8-K | 001-39253 | 4.1 | 11/21/2025 | ||
| 4.7 | Description of Securities | * | |||||
| 10.1 | Amended and Restated Registration Rights Agreement, dated December 18, 2020, by and among the Company, SCH Sponsor II LLC, certain former stockholders of Opendoor Labs Inc., Cipora Herman, David Spillane and ChaChaCha SPAC B, LLC, Hedosophia Group Limited and 010118 Management, L.P. | 8-K | 001-39253 | 10.14 | 12/18/2020 | ||
| 10.2 | # | Form of Indemnification Agreement | 8-K | 001-39253 | 10.1 | 12/18/2020 | |
| 10.3 | # | Opendoor Labs Inc. 2014 Stock Plan | S-4 | 333-249302 | 10.18 | 10/05/2020 | |
| ExhibitNo. · Description · Form · File No. · Exhibit · Filing Date · Filed Herewith | |||||||
|---|---|---|---|---|---|---|---|
| 10.4 | # | Form of Notice of Restricted Stock Unit Grant and RSU Terms and Conditions Under 2014 Stock Plan | S-4 | 333-249302 | 10.19 | 10/05/2020 | |
| 10.5 | # | Form of Notice of Stock Option Grant and Stock Option Agreement under 2014 Stock Plan | S-4/A | 333-249302 | 10.20 | 11/25/2020 | |
| 10.6 | # | Opendoor Technologies Inc. 2020 Incentive Award Plan | 8-K | 001-39253 | 10.3 | 12/18/2020 | |
| 10.7 | # | Form of Restricted Stock Unit Grant Notice and Restricted Stock Unit Agreement under 2020 Incentive Award Plan | 8-K | 001-39253 | 99.1 | 04/02/2021 | |
| 10.8 | # | Form of Option Agreement under the 2020 Incentive Award Plan | 10-Q | 001-39253 | 10.1 | 11/10/2021 | |
| 10.9 | # | Form of Restricted Stock Unit Grant Notice and Restricted Stock Unit Agreement (Canada) under 2020 Incentive Award Plan | 10-Q | 001-39253 | 10.1 | 08/11/2021 | |
| 10.10 | # | Opendoor Technologies Inc. Amended and Restated 2020 Employee Stock Purchase Plan (effective as of February 8, 2023) | 10-K | 001-39253 | 10.15 | 02/23/2023 | |
| 10.11 | # | Form of Performance Restricted Stock Unit Grant Notice and Performance Restricted Stock Unit Agreement under 2020 Incentive Award Plan | 10-Q | 001-39253 | 10.2 | 05/02/2024 | |
| 10.12 | # | Offer Letter Agreement, dated as of September 3, 2020, by and between Opendoor Labs Inc. and Carrie Wheeler | S-4/A | 333-249302 | 10.32 | 11/27/2020 | |
| 10.13 | # | Amendment of Letter Agreement, dated as of December 1, 2022, by and between Opendoor Technologies Inc. and Carrie Wheeler | 10-K | 001-39253 | 10.22 | 02/23/2023 | |
| 10.14 | # | Opendoor Technologies Inc. Non-Employee Director Compensation Policy | * | ||||
| 10.15 | # | Opendoor Technologies Inc. Executive Severance Plan | 10-Q | 001-39253 | 10.1 | 05/02/2024 | |
| 10.16 | # | Change in Control Letter Agreement, dated as of January 31, 2022, by and between Opendoor Technologies Inc. and Carrie Wheeler | 10-Q | 001-39253 | 10.3 | 05/05/2022 | |
| 10.17 | # | Opendoor Technologies Inc. 2022 Inducement Award Plan | S-8 | 333-266877 | 99.1 | 08/15/2022 | |
| 10.18 | # | Form of Restricted Stock Unit Grant Notice and Restricted Stock Unit Agreement Under 2022 Inducement Award Plan | S-8 | 333-266877 | 99.2 | 08/15/2022 | |
| 10.19 | # | Form of Stock Option Grant Notice and Stock Option Agreement Under 2022 Inducement Award Plan | S-8 | 333-266877 | 99.3 | 08/15/2022 | |
| 10.20 | # | Offer Letter Agreement, dated as of September 30, 2024, by and between Opendoor Labs Inc. and Selim Freiha | 10-Q | 001-39253 | 10.1 | 11/07/2024 | |
| 10.21 | # | Form of Restricted Stock Unit Grant Notice and Restricted Stock Unit Agreement (India) under 2020 Incentive Award Plan | 10-K | 001-39253 | 10.32 | 02/23/2023 | |
| 10.22 | # | Offer Letter Agreement dated as of July 10, 2022, by and between Opendoor Labs Inc. and Sydney Schaub | 10-Q | 001-39253 | 10.2 | 05/04/2023 | |
| 10.23 | # | Form of Restricted Stock Unit Grant Notice and Restricted Stock Unit Agreement (India) Under 2022 Inducement Award Plan | 10-K | 001-39253 | 10.31 | 02/15/2024 | |
| 10.24 | # | Form of Restricted Stock Unit Grant Notice and Restricted Stock Unit Agreement (Canada) Under 2022 Inducement Award Plan | 10-K | 001-39253 | 10.32 | 02/15/2024 | |
| 10.25 | # | Form of Director Offer Letter | 10-K | 001-39253 | 10.34 | 02/27/2025 | |
| 10.26 | Form of Performance Restricted Stock Unit Grant Notice and Performance Restricted Stock Unit Agreement under 2020 Incentive Plan (2025) | 10-Q | 001-39253 | 10.2 | 05/06/2025 | ||
| ExhibitNo. · Description · Form · File No. · Exhibit · Filing Date · Filed Herewith | |||||||
|---|---|---|---|---|---|---|---|
| 10.27 | # | Form of Restricted Stock Unit Grant Notice and Restricted Stock Unit Agreement under 2020 Incentive Award Plan (Global Addendum) | 10-Q | 001-39253 | 10.3 | 05/06/2025 | |
| 10.28 | Form of Exchange and Subscription Agreement for 7.000% Convertible Senior Notes due 2030 of Opendoor Technologies Inc. | 8-K | 001-39253 | 10.1 | 05/09/2025 | ||
| 10.29 | # | Offer Letter Agreement, dated as of September 10, 2024, by and between Opendoor Labs Inc. and Shrisha Radhakrishna | 10-Q | 001-39253 | 10.1 | 11/06/2025 | |
| 10.30 | # | Amendment of Offer Letter Agreement, dated as of August 26, 2025, by and between Opendoor Labs Inc. and Shrisha Radhakrishna | 10-Q | 001-39253 | 10.2 | 11/06/2025 | |
| 10.31 | # | Offer Letter Agreement, dated as of September 10, 2025, by and between Opendoor Labs Inc. and Kaz Nejatian | 10-Q | 001-39253 | 10.3 | 11/06/2025 | |
| 10.32 | # | Restricted Stock Unit Grant Notice and Restricted Stock Unit Agreement by and between Opendoor Technologies Inc. and Kaz Nejatian | 10-Q | 001-39253 | Exhibit A to 10.3 | 11/06/2025 | |
| 10.33 | # | Performance Restricted Stock Unit Grant Notice and Performance Restricted Stock Unit Agreement (First Sign-On PSU Award) by and between Opendoor Technologies Inc. and Kaz Nejatian | S-8 | 333-290224 | 4.4 | 09/12/2025 | |
| 10.34 | # | Performance Restricted Stock Unit Grant Notice and Performance Restricted Stock Unit Agreement (Second Sign-On PSU Award) by and between Opendoor Technologies Inc. and Kaz Nejatian | S-8 | 333-290224 | 4.5 | 09/12/2025 | |
| 10.35 | # | Offer Letter Agreement, dated as of September 18, 2025, by and between Opendoor Labs Inc. and Christy Schwartz | 10-Q | 001-39253 | 10.7 | 11/06/2025 | |
| 10.36 | # | Advisory Agreement, dated as of August 15, 2025, by and between Opendoor Technologies Inc. and Carrie Wheeler | 10-Q | 001-39253 | 10.8 | 11/06/2025 | |
| 10.37 | Form of Share Purchase Agreement, dated November 6, 2025, by and between Opendoor Technologies Inc. and the Purchasers listed on Schedule A thereto. | 8-K | 001-39253 | 10.1 | 11/06/2025 | ||
| 10.38 | # | Offer Letter Agreement, dated as of September 23, 2025 by and between Opendoor Labs Inc. and Giang Nguyen. | * | ||||
| 10.39 | # | Offer Letter Agreement, dated as of December 12, 2025 by and between Opendoor Operations Canada Inc. and Lucas Matheson. | * | ||||
| 10.40 | # | Offer Letter Agreement, dated as of December 12, 2025 by and between Opendoor Labs Inc. and Christy Schwartz. | * | ||||
| 10.41 | # | Offer Letter Agreement, dated as of December 22, 2025 by and between Opendoor Labs Inc. and Giang Nguyen. | * | ||||
| 19.1 | Insider Trading and Trading Window Policy | * | |||||
| 21.1 | List of subsidiaries of Opendoor Technologies Inc. | * | |||||
| 23.1 | Consent of Deloitte & Touche LLP | * | |||||
| 31.1 | Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | * | |||||
| 31.2 | Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | * | |||||
| ExhibitNo. | Description | Form | File No. | Exhibit | Filing Date | Filed Herewith |
|---|---|---|---|---|---|---|
| 32.1 · Certification of Chief Executive Officer and Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 · ** | ||||||
| 97.1 | Policy for Recovery of Erroneously Awarded Compensation | 10-K | 001-39253 | 97.1 | 02/15/2024 | |
| 101.INS | Inline XBRL Instance Document - the instance document does not appear in the Interactive Data file because its XBRL tags are embedded within the Inline XBRL document. | * | ||||
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document. | * | ||||
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document. | * | ||||
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document. | * | ||||
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document. | * | ||||
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document. | * | ||||
| 104 | Cover Page Interactive Data File (as formatted as Inline XBRL and contained in Exhibit 101) | * | ||||
- Filed herewith.
** Furnished herewith.
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