For the quarter ending 2026-03-31, OPEN had -$234M decrease in cash & cash equivalents over the period. -$250M in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net loss | -173 | -1,096 | -90 | -29 |
| Depreciation and amortization | 8 | 11 | 11 | 12 |
| Amortization of right of use asset | 0 | 0 | 1 | 0 |
| Stock-based compensation | 120 | 105 | 27 | 13 |
| Inventory valuation adjustment | 9 | 9 | 14 | 21 |
| Changes in fair value of equity securities | 0 | 0 | 0 | 0 |
| Other | 3 | -2 | 3 | 4 |
| Proceeds from sale and principal collections of mortgage loans held for sale | - | 0 | - | - |
| Origination of mortgage loans held for sale | 1 | - | - | - |
| Loss on extinguishment of debt | -1 | -933 | -1 | 10 |
| Gain on deconsolidation, net | - | 0 | 0 | - |
| Escrow receivable | 6 | -5 | -1 | -10 |
| Real estate inventory | 221 | -118 | -461 | -805 |
| Other assets | -42 | -6 | 4 | -5 |
| Accounts payable and other accrued liabilities | -29 | -11 | 6 | -10 |
| Interest payable | 1 | -8 | 4 | 2 |
| Lease liabilities | 0 | 0 | 0 | 0 |
| Net cash used in operating activities | -246 | 70 | 435 | 823 |
| Purchase of property and equipment | 4 | 3 | 3 | 2 |
| Proceeds from sales, maturities, redemptions and paydowns of marketable securities | 0 | 0 | 0 | 0 |
| Purchase of non-marketable equity securities | - | 0 | 6 | - |
| Proceeds from sale of non-marketable equity securities | - | 0 | - | - |
| Cash impact of deconsolidation of subsidiaries | - | 0 | 0 | - |
| Net cash (used in) provided by investing activities | -4 | -3 | -9 | -2 |
| Proceeds from issuance of convertible senior notes, net of discount | - | 0 | 0 | 75 |
| Repurchase of convertible senior notes | - | 1,176 | - | - |
| Settlement of capped calls related to the convertible senior notes | - | - | 1 | - |
| Settlement of capped calls related to convertible senior notes | - | 1 | - | - |
| Proceeds from exercise of stock options | - | 0 | 4 | - |
| Proceeds from issuance of common stock for espp | 1 | 0 | 1 | 0 |
| Proceeds from pipe offering | - | 0 | 41 | - |
| Proceeds from the issuance of common stock under at-the-market offering, net | - | 0 | 198 | - |
| Issuance of common stock in connection with the repurchase of convertible notes | - | 1,184 | - | - |
| Proceeds from non-recourse asset-backed debt | 68 | 0 | 13 | 95 |
| Principal payments on non-recourse asset-backed debt | 53 | 221 | 415 | 491 |
| Payment of loan origination fees and debt issuance costs | 0 | 1 | 0 | 8 |
| Payment for early extinguishment of debt | - | 4 | - | - |
| Other financing activities | - | 0 | -2 | - |
| Net cash provided by financing activities | 16 | -218 | -159 | -329 |
| Net decrease in cash, cash equivalents, and restricted cash | -234 | -151 | 267 | 492 |
| Cash, cash equivalents, and restricted cashbeginning of period | 1,301 | -689 | -422 | 70 |
| Cash, cash equivalents, and restricted cashend of period | 1,067 | -151 | 267 | 492 |