Opendoor Technologies Inc.
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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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, 2026 · Filed Nov 5, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
(In millions, excepts hare data)
| September 30,2026 · December 31, 2025 | |||
|---|---|---|---|
| ASSETS | |||
| CURRENT ASSETS: | |||
| Cash and cash equivalents | $910 | $962 | |
| Restricted cash | 98 | 339 | |
| Escrow receivable | 14 | 4 | |
| Real estate inventory, net | 2,568 | 925 | |
| Other current assets ($1 and $0 carried at fair value) | 30 | 69 | |
| Total current assets | 3,620 | 2,299 | |
| PROPERTY AND EQUIPMENT – Net | 25 | 27 | |
| RIGHT OF USE ASSETS | 9 | 8 | |
| GOODWILL | 7 | 3 | |
| INTANGIBLES – Net | 5 | — | |
| OTHER ASSETS | 74 | 70 | |
| TOTAL ASSETS | (1) | $3,740 | $2,407 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||
| CURRENT LIABILITIES: | |||
| Accounts payable and other accrued liabilities | $71 | $80 | |
| Asset-backed debt – current portion | 2,016 | 52 | |
| Convertible senior notes – current portion | 59 | 193 | |
| Interest payable | 6 | 1 | |
| Lease liabilities – current portion | 2 | 1 | |
| Total current liabilities | 2,154 | 327 | |
| ASSET-BACKED DEBT – Net of current portion | 348 | 1,068 | |
| CONVERTIBLE SENIOR NOTES – Net of current portion | 639 | — | |
| LEASE LIABILITIES – Net of current portion | 6 | 6 | |
| OTHER LIABILITIES | 1 | 1 | |
| Total liabilities | (2) | 3,148 | 1,402 |
| COMMITMENTS AND CONTINGENCIES (See Note 17) | |||
| SHAREHOLDERS’ EQUITY: | |||
| Common stock, $0.0001 par value; 3,000,000,000 shares authorized; 929,213,532 and 957,245,487 shares issued, respectively; 929,213,532 and 957,245,487 shares outstanding, respectively | — | — | |
| Additional paid-in capital | 6,179 | 6,038 | |
| Accumulated deficit | (5,586) | (5,033) | |
| Accumulated other comprehensive loss | (1) | — | |
| Total shareholders’ equity | 592 | 1,005 | |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $3,740 | $2,407 | |
(1)The Company’s consolidated assets at September 30, 2026 and December 31, 2025 include the following assets of certain variable interest entities (“VIEs”) that can only be used to settle the liabilities of those VIEs: Restricted cash, $93 and $334; Real estate inventory, net, $2,552 and $916; Escrow receivable, $14 and $4; Other current assets, $7 and $3; and Total assets of $2,666 and $1,257, respectively.
(2)The Company’s consolidated liabilities at September 30, 2026 and December 31, 2025 include the following liabilities for which the VIE creditors generally do not have recourse to Opendoor, other than as described in “Note 5. Credit Facilities, Long-Term Debt, and Convertible Notes”: Accounts payable and other accrued liabilities, $44 and $12; Current portion of asset-backed debt, $2,016 and $52; Interest payable, $4 and $1; Asset-backed debt, net of current portion, $348 and $1,068; and Total liabilities, $2,412 and $1,133, respectively. See “Note 4. Variable Interest Entities” and“Note 5. Credit Facilities, Long-Term Debt, and Convertible Notes” for additional information.
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