CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Mar. 31, 2025	Dec. 31, 2024
CURRENT ASSETS:
Cash and cash equivalents		$ 559	$ 671
Restricted cash		134	92
Marketable securities		0	8
Escrow receivable		20	6
Real estate inventory, net		2,362	2,159
Other current assets		77	61
Total current assets		3,152	2,997
PROPERTY AND EQUIPMENT – Net		44	48
RIGHT OF USE ASSETS		17	18
GOODWILL		3	3
OTHER ASSETS		61	60
TOTAL ASSETS	[1]	3,277	3,126
CURRENT LIABILITIES:
Accounts payable and other accrued liabilities		102	92
Non-recourse asset-backed debt – current portion		946	432
Interest payable		3	3
Lease liabilities – current portion		2	2
Total current liabilities		1,053	529
NON-RECOURSE ASSET-BACKED DEBT – Net of current portion		1,187	1,492
CONVERTIBLE SENIOR NOTES		378	378
LEASE LIABILITIES – Net of current portion		13	13
OTHER LIABILITIES		1	1
Total liabilities	[2]	2,632	2,413
COMMITMENTS AND CONTINGENCIES (See Note 15)
SHAREHOLDERS’ EQUITY:
Common stock, $0.0001 par value; 3,000,000,000 shares authorized; 726,835,454 and 719,990,121 shares issued, respectively; 726,835,454 and 719,990,121 shares outstanding, respectively		0	0
Additional paid-in capital		4,455	4,438
Accumulated deficit		(3,810)	(3,725)
Accumulated other comprehensive loss		0	0
Total shareholders’ equity		645	713
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$ 3,277	$ 3,126

[1] The Company’s consolidated assets at March 31, 2025 and December 31, 2024 include the following assets of certain variable interest entities (“VIEs”) that can only be used to settle the liabilities of those VIEs: Restricted cash, $124 and $81; Real estate inventory, net, $2,353 and $2,141; Escrow receivable, $20 and $6; Other current assets, $6 and $8; and Total assets of $2,503 and $2,236, respectively.

[2] The Company’s consolidated liabilities at March 31, 2025 and December 31, 2024 include the following liabilities for which the VIE creditors generally do not have recourse to Opendoor: Accounts payable and other accrued liabilities, $27 and $21; Current portion of non-recourse asset-backed debt, $946 and $432; Interest payable, $2 and $3; Non-recourse asset-backed debt, net of current portion, $1,187 and $1,492; and Total liabilities, $2,162 and $1,948, respectively. See “Note 4. Variable Interest Entities” for additional information regarding our VIEs.