Opendoor opens Q&A at quarterly earnings presentation to shareholders via new format

[real estate and housing concept, architect project of modern house, sketch 3d]
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Opendoor Technologies (OPEN [https://seekingalpha.com/symbol/OPEN]) announced [https://seekingalpha.com/pr/20286980-earnings-and-chill-opendoor-to-stream-earnings-direct-to-investors-on-robinhood-debuting-new] on Thursday a transformation of its quarterly earnings presentation into a livestream video presentation with CEO Kaz Nejatian and Interim CFO Christy Schwartz on the Robinhood (HOOD [https://seekingalpha.com/symbol/HOOD]) app, opening Q&A to shareholders.

The real estate services company is set to report [https://seekingalpha.com/symbol/OPEN/earnings/estimates?period=quarterly] its third-quarter earnings on November 6, after market close. The consensus EPS estimate is -$0.07 and the consensus revenue estimate is $882.31M.

The reimagined format, "Financial Open House", debuts on November 6 at 5:00 PM ET.

Financial Open House will include a pre-recorded presentation covering the Q3 financial results and business updates, followed by a live Q&A session featuring questions from both retail investors and institutional research analysts.

"Today, you can livestream questions to a celebrity on Instagram, DM a founder on X, or stream NFL games and presidential debates on your phone. But shareholders still can't ask their own CEO a question on an earnings call," said OPEN in an October 30 statement.

"Instead, they hunt for dial-in codes and listen to the same analysts ask the same questions, quarter after quarter. It's corporate transparency stuck in the 1990s," said the company. "Opendoor is breaking that model."

The quarterly earnings presentation is set to stream live on Robinhood (HOOD [https://seekingalpha.com/symbol/HOOD]), X, YouTube, and Opendoor's investor relations site.

The company said it will open Q&A to everyday shareholders through Robinhood's Say Technologies platform, adding that questions are open now through November 5 at 5:00 PM ET. The most popular questions will be answered live during the Q&A session on November 6.

"It's a stark departure from traditional earnings calls, where shareholders typically have no voice," said the company in the statement.

Shares were -4.77% to $7.29 around noon trading.

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