← Opendoor Technologies Inc.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation and amortization | $12.8m | $27.4m | $38.6m | $47.0m | $83.0m | $65.0m | $48.0m | $44.0m | |
| Amortization of right of use asset | $0 | $11.9m | $23.7m | $8.0m | $7.0m | $7.0m | $5.0m | $2.0m | |
| Loss (gain) on early extinguishment of debt | — | — | $0 | $0 | $25.0m | ($216.0m) | $2.0m | $924.0m | |
| Net loss | ($239.9m) | ($339.2m) | ($286.8m) | ($662.0m) | ($1.4b) | ($275.0m) | ($392.0m) | ($1.3b) | |
| Stock-based compensation | $8.4m | $12.6m | $38.0m | $536.0m | $171.0m | $126.0m | $114.0m | $159.0m | |
| Inventory valuation adjustment | $20.5m | $31.9m | $7.6m | $56.0m | $737.0m | $65.0m | $57.0m | $57.0m | |
| Changes in fair value of equity securities | — | $0 | $0 | ($35.0m) | $35.0m | $1.0m | $7.0m | $3.0m | |
| Other | — | — | — | ($9.0m) | ($1.0m) | $13.0m | $7.0m | $5.0m | |
| Proceeds from sale and principal collections of mortgage loans held for sale | $0 | $21.5m | $125.6m | $197.0m | $128.0m | $1.0m | $0 | $0 | |
| Gain on deconsolidation, net | — | — | — | — | $0 | $0 | ($14.0m) | $0 | |
| Escrow receivable | $4.5m | ($3.1m) | $12.4m | ($83.0m) | $54.0m | $21.0m | $3.0m | $2.0m | |
| Real estate inventory | ($1.0b) | $17.0m | $834.1m | ($5.7b) | $896.0m | $2.6b | ($449.0m) | $1.2b | |
| Other assets | ($11.7m) | ($7.5m) | $4.3m | ($52.0m) | $37.0m | ($19.0m) | ($10.0m) | ($9.0m) | |
| Accounts payable and other accrued liabilities | $16.4m | ($4.3m) | ($4.0m) | $76.0m | ($25.0m) | ($38.0m) | $31.0m | ($7.0m) | |
| Interest payable | $3.6m | $475k | ($3.1m) | $4.0m | $2.0m | ($10.0m) | $2.0m | ($2.0m) | |
| Lease liabilities | $0 | ($13.9m) | ($7.1m) | ($13.0m) | ($8.0m) | ($10.0m) | ($6.0m) | ($1.0m) | |
| Purchase of property and equipment | ($20.0m) | ($28.0m) | ($17.3m) | ($33.0m) | ($37.0m) | ($37.0m) | ($25.0m) | ($12.0m) | |
| Proceeds from sales, maturities, redemptions and paydowns of marketable securities | $40.4m | $45.0m | $170.0m | $92.0m | $328.0m | $80.0m | $55.0m | $6.0m | |
| Purchase of non-marketable equity securities | — | $0 | $0 | ($15.0m) | ($25.0m) | $0 | $0 | ($6.0m) | |
| Proceeds from sale of non-marketable equity securities | — | — | $0 | $0 | $3.0m | $1.0m | $0 | $0 | |
| Cash impact of deconsolidation of subsidiaries | — | — | — | — | $0 | $0 | ($2.0m) | $0 | |
| Proceeds from issuance of convertible senior notes, net of discount | $20.0m | $178.2m | $0 | $953.0m | $0 | $0 | $0 | $75.0m | |
| Repurchase of convertible senior notes | — | — | — | $0 | $0 | ($362.0m) | $0 | ($1.2b) | |
| Settlement of Capped Calls related to convertible senior notes | — | — | — | — | $0 | $0 | $2.0m | $1.0m | |
| Proceeds from exercise of stock options | $6.9m | $3.4m | $7.6m | $15.0m | $4.0m | $3.0m | $0 | $4.0m | |
| Proceeds from PIPE offering | — | — | — | — | — | $0 | $0 | $41.0m | |
| Stock-based compensation expense capitalized for internally developed software | — | — | $0 | $12.0m | $16.0m | $23.0m | $15.0m | $4.0m | |
| Principal value of 2026 Notes extinguished in Debt Exchange | — | — | — | — | — | $0 | $0 | ($246.0m) | |
| Investment in non-marketable equity securities due to deconsolidation | — | — | — | — | $0 | $0 | $39.0m | $3.0m | |
| Net cash provided by (used in) operating activities | ($1.2b) | ($272.1m) | $681.9m | ($5.8b) | $730.0m | $2.3b | ($595.0m) | $1.0b | |
| Net cash (used in) provided by investing activities | ($7.4m) | ($95.1m) | ($21.9m) | ($476.0m) | $234.0m | $44.0m | $28.0m | ($12.0m) | |
| Proceeds from non-recourse asset-backed debt | — | $3.6b | $1.3b | $11.5b | $10.1b | $238.0m | $498.0m | $684.0m | |
| Payment of loan origination fees and debt issuance costs | ($8.9m) | ($15.1m) | ($3.2m) | ($47.0m) | ($26.0m) | ($1.0m) | $0 | ($17.0m) | |
| Principal value of 2030 Notes issued in Debt Exchange | — | — | — | — | — | $0 | $0 | $246.0m | |
| Principal payments on non-recourse asset-backed debt | — | ($3.5b) | ($2.1b) | ($5.8b) | ($11.8b) | ($2.5b) | ($715.0m) | ($1.5b) | |
| Payment for early extinguishment of debt | — | — | $0 | $0 | ($10.0m) | ($4.0m) | $0 | ($4.0m) | |
| Proceeds from issuance of common stock for ESPP | — | — | $0 | $0 | $2.0m | $2.0m | $5.0m | $2.0m | |
| Proceeds from the issuance of common stock under at-the-market offering, net | $0 | $0 | $82k | $886.0m | $0 | $0 | $0 | $198.0m | |
| Issuance of common stock in connection with the repurchase of convertible notes | — | — | — | — | — | $0 | $0 | $1.2b | |
| Other financing activities | — | — | — | — | — | $0 | $0 | ($2.0m) | |
| Net cash used in financing activities | $1.5b | $646.2m | $160.7m | $7.3b | ($1.8b) | ($2.6b) | ($210.0m) | ($499.0m) | |
| NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | $309.4m | $279.1m | $820.7m | $1.1b | ($787.0m) | ($251.0m) | ($777.0m) | $538.0m | |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – Beginning of year | $405.8m | $684.8m | $1.5b | $2.6b | $1.8b | $1.5b | $763.0m | $1.3b | |
| Cash and cash equivalents | $262.4m | $405.1m | $1.4b | $1.7b | $1.1b | $999.0m | $671.0m | $962.0m | |
| Restricted cash | $143.4m | $279.7m | $92.9m | $847.0m | $654.0m | $541.0m | $92.0m | $339.0m | |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION – Cash paid during the period for interest | $44.6m | $85.9m | $56.9m | $122.0m | $355.0m | $203.0m | $121.0m | $120.0m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.