Opendoor Investor Presentation Deck
Non-GAAP reconciliations
$ IN MILLIONS
Operating Expenses (GAAP)
Adjustments:
Direct selling costs
Holding costs on sales included in contribution profit
Stock-based compensation
Intangibles amortization expense
Restructuring
Gain on lease termination
Payroll tax on initial RSU release
Legal contingency accrual
Depreciation and amortization, excluding amortization of intangibles
Other
Adjusted Operating Expenses
Adjusted Operating Expenses Margin
2017
$128
$26
$9
$4
$1
$88
12.4%
2018
$297
$62
$19
$15
$1
$1
$5
($2)
$196
Year Ended December 31,
10.7%
2019
$549
$149
$56
$13
$3
$2
$15
$1
$310
6.5%
2020
$406
$73
$28
$38
$4
$31
$4
$22
($2)
$208
8.1%
2021
$1,298
$195
$49
$536
$4
($5)
$5
$14
$33
$467
5.8%
Twelve
Months Ended
March 31, 2022
$1,373
$313
$90
$364
$6
$5
$17
$33
$545
4.4%
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