A firearm is said to fire from an open bolt or open breech if, when ready to fire, the bolt and working parts are held to the rear of the receiver, with no round in the chamber. When the trigger is actuated, the bolt travels forward, feeds a cartridge from the magazine or belt into the chamber, and fires that cartridge in the same movement. Like any other self-loading design, the action is cycled by the energy released from the propellant, which sends the bolt back to the rear, compressing the mainspring in readiness for firing the next round. In an open-bolt gun firing semi-automatically, the bolt is caught and held at this point by the sear after each shot; and in automatic open-bolt fire, it is caught and held in this manner whenever the trigger is released. In contrast to this, in closed-bolt guns, the trigger and sear do not affect the movement of the bolt directly.

Generally, an open-bolt firing cycle is used for fully automatic weapons and not for semi-automatic weapons (except some semi-automatic conversions of automatic designs). Firearms using advanced primer ignition blowback inherently fire from open bolt only.

Compared to a closed-bolt design, open-bolt weapons generally have fewer moving parts. The firing pin is often part of the bolt, saving on manufacturing costs; the inertia of the bolt closing also causes the fixed firing pin to strike a blow on the primer, without need for a separate hammer/striker and spring. In automatic weapons, an open bolt helps eliminate the dangerous phenomenon known as "cook-off", in which the firing chamber becomes so hot that rounds spontaneously fire without trigger input. Open-bolt designs typically remain much cooler in operation than closed-bolt types due to the airflow allowed into the chamber, action and barrel during pauses between bursts; moreover, unlike in the case of the closed-bolt format, the initial round in a burst is not introduced into the chamber until the moment before firing, and is thus only exposed to the residual heat for a fraction of a second. These two features combine to make open-bolt operation more suitable for weapons such as machine guns, which are intended to be capable of prolonged automatic fire. Open-bolt firearms also allow water drainage in underwater firearms.

Firstly, the bolt retention mechanism may fail, resulting in a spontaneous discharge (i.e., without prior trigger input), with potentially dangerous consequences. Some simple submachine gun designs, such as the Sten, can discharge spontaneously when dropped onto a hard surface – even when uncocked – as the collision can jolt the bolt backward far enough that on returning it will pick up a round from the magazine, chamber it and fire it; the risk is intrinsic to hand-held open-bolt guns unless safety features are included in the design.

Another shortcoming of the open-bolt principle is that there is a brief delay between the trigger-pull and the firing of the cartridge because the (rather inert) bolt has to move forward a significant distance between the two events. Since after the first shot an open-bolt firearm operates effectively indistinguishably from a closed-bolt firearm, this latency problem is generally less of a concern in full automatic fire and mostly applies to semi-automatic mode. The issue was most problematic in the use of forward-firing open-bolt machine guns and autocannons in (tractor configuration single-engine) fighters during the piston engine era. Given the highly dynamic nature of aerial combat, the aforementioned intrinsic firing delay of open-bolt guns is particularly undesirable. The inertia and latency inherent to the open bolt design negatively affects predictability and control and makes fitting open-bolt designs with synchronization gear to fire through the propeller blades difficult and often requiring extensive modification (but not impossible).

Furthermore, with unlocked simple blowback action designs, calibers over 9×19mm Parabellum become increasingly less practical because of the need for correspondingly heavier bolts as the chamber pressure increases. In simple blowback open-bolt designs, even in such relatively low-power calibers, the movement of the heavy bolt mass within the gun negatively affects aim and accuracy in two ways:

While the latency is unavoidable with the open-bolt design, more sophisticated delayed-blowback open-bolt designs do allow for use of a lighter bolt, thus reducing the gap in performance between open and closed bolt types. However, these designs are uncommon due to economics and complexity.

Lastly, unless an ejection port cover is used, breech and action internals' exposure to the elements renders open-bolt designs universally vulnerable to contamination with dirt and dust through the open ejection port. Some versions of the open-bolt M3 submachine gun utilize a hinged sheet metal ejection port cover that doubles as a safety; when closed, it both covers the ejection port and blocks the bolt from closing. When ready to fire, the user simply flips the cover down, opening the ejection port and unblocking the bolt.