EL7.AI
StocksMedium•21 October 2026•
2 min read

Nejatian combines Opendoor CEO and president roles as revenue rises 23%

Key Facts

1Opendoor's revenue rose 23% in the second quarter of 2026 from the previous quarter.
2The number of homes the company purchased increased 77% quarter-on-quarter and 149% year-on-year in the second quarter of 2026.
3Operating expenses per completed home purchase fell to $3.0 thousand, compared with $5.0 thousand in the previous quarter and $8.4 thousand a year earlier.
4Kaz Nejatian holds the roles of CEO and president alongside his seat on the board.
5Opendoor will report third-quarter results after the market closes on November 5, 2026.

Kaz Nejatian holds the roles of chief executive officer and president of Opendoor, alongside his seat on the board, according to the company's official leadership page. Opendoor announced his appointment as CEO on September 10, 2025. Before joining, he served as chief operating officer and vice president of product at Shopify, according to his biography published by the company. His original offer letter stipulated an annual base salary of $1, according to a company filing. The filing related to the leadership overhaul also documented the appointment of Keith Rabois as chairman of the board. On taking the helm, Nejatian said of the experience of buying or selling a home: "With AI, we have the tools to make this experience radically simpler, faster and more certain."

Opendoor had previously announced that Lucas Matheson would join as president effective December 22, 2025. His announced responsibilities included business development, financial planning and analysis, and emerging strategic initiatives, according to his appointment announcement. The company also announced the appointment of Christy Schwartz as chief financial officer effective January 1, 2026, according to a filing with the U.S. Securities and Exchange Commission. On the product front, Opendoor announced that its mortgage service had moved out of beta with fixed- and adjustable-rate products. The announcement of Nejatian's appointment as CEO in September 2025 was followed by a 49% rise in the stock to $8.72 in early trading on the Thursday following the announcement, according to Investing.com.

Opendoor's revenue rose 23% in the second quarter of 2026 from the previous quarter, according to its earnings release. The number of homes the company purchased increased 77% quarter-on-quarter and 149% from the same quarter a year earlier. Operating expenses per completed home purchase fell to $3.0 thousand, compared with $5.0 thousand in the first quarter and $8.4 thousand in the second quarter of 2025. In guidance issued with its second-quarter results, the company forecast revenue growth of at least 20% year-on-year for the third quarter of 2026. It is scheduled to report results for that quarter after the market closes on Thursday, November 5, 2026, according to its earnings date announcement.