Opendoor Technologies Inc. (NASDAQ: OPEN) reported mixed Q4 2025 earnings, with revenue beating expectations at $736 million, but adjusted EPS worse than expected at a loss of $1.26. The company aims to reach breakeven by end of 2026, drive positive unit economics, and transition to direct-to-consumer relationships.

Opendoor’s core value proposition is liquidity and convenience in home buying and selling. The company’s algorithmic pricing models, now utilizing AI, drive growth through swift resales. However, market conditions can impact the model’s effectiveness, as seen in 2022 with inventory losses due to market shifts.

Despite gains of over 200% in the last 12 months, Opendoor’s stock faces challenges with institutional buying waning and increased short interest. The company’s speculative nature and need to prove its business model at scale suggest investors will need patience and conviction moving forward.

Read more at Nasdaq: Opendoor Pops After Earnings, But the Big Question Hasn’t Changed