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Opendoor raises $650M with 0% notes and buys back $158M in shares
Opendoor said it expects no net share issuance until its stock price exceeds $10.38 per share, while Q2 included 6,908 acquisition contracts.
Opendoor reported Q2 2026 revenue of $883 million and a net loss of $162 million, alongside higher activity in the home-buying pipeline, including 6,908 acquisition contracts during the quarter.
The company also announced plans to fund growth through $650 million of 0% convertible senior notes due 2030, and a $158 million share repurchase of about 45.3 million shares. Opendoor said the offering is expected to settle on August 19, 2026, subject to customary closing conditions.
Opendoor said it expects no net share issuance until its stock exceeds $10.38 per share, adding that its share price was $3.52 as of Thursday morning. HousingWire also noted the company said investors could expect at least a 20% annual increase in revenue for the year.
The quarter featured further increases in purchasing and contract metrics, including 4,378 homes purchased, up 2,621 year over year, and 2,310 homes under contract to purchase at quarter end, up from 393 a year earlier. Opendoor highlighted inventory of 5,459 homes at the end of the quarter, up 921 year over year.