Anthony Pompliano invites Opendoor CEO Carrie Wheeler for a recorded conversation on the company's growth plans.

Anthony Pompliano invites Opendoor CEO Carrie Wheeler for a recorded conversation on the company's growth plans.

Opendoor Technologies Inc. (OPEN), the real estate technology company, has seen a significant turnaround following its recent meme stock surge. In a recorded conversation with Anthony Pompliano, CEO Carrie Wheeler discussed the company's growth plans and strategic shifts. Wheeler highlighted Opendoor's transition from a single product to a distributed platform with multiple offerings, leveraging its proprietary data and AI.

Opendoor's second-quarter results, reported on July 2, 2025, showed adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $23 million, beating the average analyst estimate of $17.5 million [1]. The company expects to generate revenue of as much as $875 million and report a loss of as much as $28 million in the third quarter [1]. Wheeler emphasized the company's ability to sell shares "at the market," a tactic used by other meme-stock beneficiaries like GameStop Corp. and AMC Entertainment Holdings Inc. [1].

Wheeler also discussed Opendoor's expansion efforts to bring real estate agents into its process from the beginning, allowing homeowners to weigh the benefits of a fast, cash sale against a traditional listing process. The company introduced a product called Cash Plus, where Opendoor pays a lower price for the home and gives the seller some upside from the proceeds of the resale [1].

In the conversation, Wheeler mentioned the company's strategic shift to a distributed platform, which includes cash offers, market listings, and a hybrid product called Cash Plus. This new approach has shown promising results, with 2x more customers reaching a final underwritten cash offer and listing conversion rates 5x higher compared to traditional methods [3]. The company has rolled out this platform in all its operating markets.

The company's financial results for the second quarter of 2025 showed $1.6 billion in revenue, with contribution profit at $69 million and adjusted EBITDA at $23 million. The company ended the quarter with $1.5 billion in net inventory and $789 million in unrestricted cash [3]. For the third quarter, Opendoor expects to acquire approximately 1,200 homes, generate revenue between $800 million and $875 million, and report an adjusted EBITDA between negative $28 million and negative $21 million [3].

Opendoor has faced macroeconomic challenges, leading to a reduction in revenue estimates. Citi Research has assigned a Sell rating to Opendoor, attributing the downgrade to broader macroeconomic headwinds and reduced revenue forecasts [2]. Despite these challenges, Wheeler remains optimistic about the company's future prospects.

References:
[1] https://finance.yahoo.com/news/opendoor-ceo-wants-most-meme-205709566.html
[2] https://www.ainvest.com/news/5-stocks-watch-pembina-pipeline-opendoor-fortinet-caterpillar-joby-aviation-downgraded-analysts-2508/
[3] https://seekingalpha.com/news/4479459-opendoor-signals-q3-revenue-of-800m-875m-as-distributed-platform-rollout-accelerates