Start Time: 17:00 January 1, 0000 5:38 PM ET

Opendoor Technologies Inc. (NASDAQ:OPEN)
Q2 2024 Earnings Conference Call
August 01, 2024, 17:00 PM ET

Company Participants

Carrie Wheeler - CEO
Christy Schwartz - CFO, Interim
Dod Fraser - President, Open Exchange and Capital
Kimberly Niehaus - Head, IR

Conference Call Participants

Dae Lee - JPMorgan
Nick Jones - Citizens JMP
Curtis Nagle - BofA
Ryan Tomasello - KBW
Nick McAndrew - Zelman Associates

Operator

Good day, and thank you for standing by. Welcome to Opendoor's Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions]. Please be advised, today's conference is being recorded.

I would now like to turn the conference over to your speaker today, Kimberly Niehaus, Head of Investor Relations. Please go ahead.

Kimberly Niehaus

Thank you, and good afternoon. 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. All statements other than statements of historical facts are statements that could be deemed forward-looking, 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 undue reliance should not be placed on them.

Such forward-looking statements 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 on Form 10-K for the year ended December 31, of 2023 as updated by our periodic reports filed after that 10-K.

Any forward-looking statements made on this conference call, including responses to your questions, are based on management's reasonable current expectations and assumptions as of today and Opendoor assumes no obligation to update or revise them, whether as a result of new information, future events or otherwise, except as required by law.

The following discussion contains references to certain non-GAAP financial measures. The company believes these non-GAAP financial measures are useful to investors as supplemental operational measurements 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 visit our website at investor.opendoor.com.