Opendoor Technologies Inc (OPEN) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.641 That's what we're building Opendoor for. It's why the results we're sharing today matter. 00:00:05.641 -- 00:00:09.087 Because every number behind them represents a homeowner who got to focus on what comes 00:00:09.087 -- 00:00:13.595 next instead of what comes with selling. I'm Michael Judd, Opendoor's Head of Investor 00:00:13.595 -- 00:00:18.684 Relations. Welcome to Opendoor's fourth quarter 2025 earnings live stream. 00:00:18.684 -- 00:00:22.030 Details of our results and additional management commentary are available in our earnings 00:00:22.030 -- 00:00:25.112 release, which can be found at investor.opendoor.com. 00:00:25.208 -- 00:00:28.092 The following discussion contains forward-looking statements within the meaning of the 00:00:28.092 -- 00:00:31.998 federal securities laws. All statements other than the statements of historical fact 00:00:31.998 -- 00:00:35.923 are statements that could be deemed forward-looking, including, but not limited to, statements 00:00:35.923 -- 00:00:39.769 regarding Open Door's financial condition, anticipated financial performance, business 00:00:39.769 -- 00:00:44.075 strategy and plans, market opportunity and expansion, and management objectives for future 00:00:44.075 -- 00:00:47.680 operations. These statements are neither promises nor guarantees, and under-reliance 00:00:47.680 -- 00:00:51.726 should not be placed on them. Such forward-looking statements involve risk and uncertainties 00:00:51.726 -- 00:00:55.250 that may cause actual results to differ materially from those discussed here. 00:00:55.250 -- 00:00:58.395 Additional information that could cause actual results to differ from forward-looking 00:00:58.395 -- 00:01:02.120 statements can be found in the Risk Factors section of O...