Opendoor Technologies Inc. (NASDAQ:OPEN) Q2 2022 Earnings Conference Call August 4, 2022 5:00 PM ET

Company Participants

Elise Wang - Vice President and Head, Investor Relations

Eric Wu - Chief Executive Officer and Co Founder

Carrie Wheeler - Chief Financial Officer

Andrew Low - President

Conference Call Participants

Jason Helfstein - Oppenheimer

Robert Zeller - Truist

Dae Lee - J.P. Morgan

Nicholas Jones - JMP Securities

Justin Ages - Berenberg

Ryan Tomasello - KBW

Jason Weaver - Compass Point

Operator

Good day. Thank you for standing by. Welcome to the Opendoor Second Quarter 2022 Earnings Conference Call. [Operator Instructions]. Please be advised that today’s conference is being recorded.

I'd now like to hand the conference over to your speaker today, Elise Wang, Head of Investor Relations. Please go ahead.

Elise Wang

Thank you, and good afternoon. Full details of our results and additional management commentary are available in our earnings release and shareholder letter, which can be found on the Investor Relations section of our website at investor.opendoor.com. Please note that this call will be simultaneously webcast on the Investor Relations section of the company's corporate website. Before we start, I would like to remind you that the following discussion contains forward-looking statements within the meaning of the federal securities laws, including, but not limited to, statements regarding Opendoor's financial condition, anticipated financial performance, business strategy and plans, market opportunity and expansion and management objectives for future operations. These statements are neither promises nor guarantees and involve risks and uncertainties that may cause actual results to differ materially from those discussed here.

Additional information that could cause actual results to differ from forward-looking statements can be found in the Risk Factors section of Opendoor's most recent annual report and on Form 10-K for the year ended December 31st, 2021. Any forward-looking statements made in this conference call including responses to your questions are based on management’s current expectations and assumptions as of today. And Opendoor assumes no obligation to update or revise them whether as a result of new development or otherwise except as required by law.

The following discussions contained references to certain non-GAAP financial measures. The company believes this non-GAAP financial are useful to investors as supplemental operational measurement to evaluate the company’s financial performance. For a reconciliation of each of these non-GAAP financial measures to the most directly comparable GAAP metric, please see our website @investor.opendoor.com.

I’ll now turn the call over to Eric Wu, Co-Founder, Chairman and Chief Executive Officer of Opendoor.