What is Offerpad Solutions' operating income?

Offerpad Solutions' total operating income in 2025 was -$33.39 million, based on the following breakdown: Total Gross Profit: $42.04 million Total Operating Expenses: $75.43 million

Offerpad Solutions (OPAD) Financials

$5.18 -0.01 (-0.19%)

Closing price 07/17/2026 03:58 PM Eastern

Extended Trading

$5.17 -0.01 (-0.19%)

As of 07/17/2026 04:10 PM Eastern

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Annual Income Statements for Offerpad Solutions

This table shows Offerpad Solutions' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-52	-23	6.46	-149	-117	-62	-46
Consolidated Net Income / (Loss)	-52	-23	6.46	-149	-117	-62	-46
Net Income / (Loss) Continuing Operations	-52	-23	6.46	-149	-117	-62	-46
Total Pre-Tax Income	-52	-23	6.63	-148	-117	-62	-46
Total Operating Income	-33	-14	20	-127	-104	-46	-33
Total Gross Profit	74	88	208	182	70	72	42
Total Revenue	1,076	1,064	2,070	3,952	1,314	919	568
Operating Revenue	1,076	1,064	2,070	3,952	1,314	919	568
Total Cost of Revenue	1,001	976	1,863	3,770	1,244	847	526
Operating Cost of Revenue	1,001	976	1,863	3,770	1,244	847	526
Total Operating Expenses	108	102	188	310	175	118	75
Selling, General & Admin Expense	15	17	30	59	50	41	26
Marketing Expense	85	77	147	239	117	73	46
Research & Development Expense	7.45	7.27	11	12	7.95	4.52	3.41
Total Other Income / (Expense), net	-18	-9.20	-13	-21	-13	-16	-13
Interest Expense	18	10	16	46	19	19	13
Other Income / (Expense), net	0.00	0.83	2.71	25	6.22	2.60	0.85
Income Tax Expense	0.25	0.16	0.17	0.36	0.16	0.03	0.44
Basic Earnings per Share	($0.90)	($0.40)	$0.82	($9.09)	($4.44)	($2.27)	($1.50)
Weighted Average Basic Shares Outstanding	57.85M	57.87M	7.91M	16.34M	26.39M	27.41M	30.99M
Diluted Earnings per Share	($0.90)	($0.40)	$0.68	($9.09)	($4.44)	($2.27)	($1.50)
Weighted Average Diluted Shares Outstanding	57.85M	57.87M	9.55M	16.34M	26.39M	27.41M	30.99M
Weighted Average Basic & Diluted Shares Outstanding	-	-	239.11M	247.39M	27.29M	27.38M	47.21M

This table shows Offerpad Solutions' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-20	-15	-18	-14	-14	-17	-15	-11	-12	-8.82	-10
Consolidated Net Income / (Loss)	-20	-15	-18	-14	-14	-17	-15	-11	-12	-8.82	-10
Net Income / (Loss) Continuing Operations	-20	-15	-18	-14	-14	-17	-15	-11	-12	-8.82	-10
Total Pre-Tax Income	-20	-15	-17	-14	-14	-17	-15	-11	-11	-8.83	-10
Total Operating Income	-20	-11	-14	-9.86	-8.93	-14	-12	-7.78	-6.74	-7.33	-9.03
Total Gross Profit	24	17	23	22	17	11	11	14	9.34	8.01	5.56
Total Revenue	234	240	285	251	208	174	161	160	133	114	80
Operating Revenue	234	240	285	251	208	174	161	160	133	114	80
Total Cost of Revenue	210	224	263	229	191	164	150	146	123	106	75
Operating Cost of Revenue	210	224	263	229	191	164	150	146	123	106	75
Total Operating Expenses	44	28	36	32	26	24	22	22	16	15	15
Selling, General & Admin Expense	14	8.78	12	11	8.25	9.87	7.20	7.80	5.15	6.05	6.13
Marketing Expense	27	18	22	20	17	14	14	13	10	8.68	7.57
Research & Development Expense	2.16	1.24	1.77	0.96	0.95	0.84	1.02	0.99	0.79	0.61	0.89
Total Other Income / (Expense), net	-0.44	-4.20	-3.81	-3.98	-4.59	-3.72	-3.48	-3.09	-4.48	-1.50	-1.09
Interest Expense	4.41	5.15	4.91	4.58	5.11	4.08	3.52	3.67	3.65	2.57	1.62
Other Income / (Expense), net	3.97	0.96	1.10	0.61	0.53	0.37	0.04	0.57	-0.84	1.07	0.53
Income Tax Expense	0.01	-0.01	0.12	-0.05	0.02	-0.06	0.04	0.03	0.38	-0.01	0.02
Basic Earnings per Share	($0.73)	($0.59)	($0.64)	($0.50)	($0.49)	($0.63)	($0.55)	($0.39)	($0.37)	($0.19)	($0.22)
Weighted Average Basic Shares Outstanding	27.28M	26.39M	27.34M	27.39M	27.44M	27.41M	27.56M	27.77M	31.28M	30.99M	46.19M
Diluted Earnings per Share	($0.73)	($0.59)	($0.64)	($0.50)	($0.49)	($0.63)	($0.55)	($0.39)	($0.37)	($0.19)	($0.22)
Weighted Average Diluted Shares Outstanding	27.28M	26.39M	27.34M	27.39M	27.44M	27.41M	27.56M	27.77M	31.28M	30.99M	46.19M
Weighted Average Basic & Diluted Shares Outstanding	27.23M	27.29M	27.30M	27.35M	27.37M	27.38M	27.54M	30.58M	36.86M	47.21M	47.32M

This table details how cash moves in and out of Offerpad Solutions' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	13	21	144	-54	-60	-6.31	-45
Net Cash From Operating Activities	-109	155	-922	305	262	21	67
Net Cash From Continuing Operating Activities	-109	155	-922	305	262	21	67
Net Income / (Loss) Continuing Operations	-52	-23	6.46	-149	-117	-62	-46
Consolidated Net Income / (Loss)	-52	-23	6.46	-149	-117	-62	-46
Depreciation Expense	0.38	0.43	0.52	1.02	0.73	0.61	0.98
Amortization Expense	0.04	0.26	0.92	2.95	4.34	1.79	0.82
Non-Cash Adjustments To Reconcile Net Income	4.27	4.53	3.21	79	17	12	8.47
Changes in Operating Assets and Liabilities, net	-62	173	-933	371	357	68	103
Net Cash From Investing Activities	-0.98	-2.86	-12	-1.07	1.99	-5.33	-1.06
Net Cash From Continuing Investing Activities	-0.98	-2.86	-12	-1.07	1.99	-5.33	-1.06
Purchase of Property, Plant & Equipment	-1.04	-2.86	-14	-1.07	-0.13	-5.41	-1.08
Purchase of Investments	-	-	0.00	0.00	-2.57	0.00	0.00
Sale of Property, Plant & Equipment	0.06	0.00	2.03	0.00	0.00	0.08	0.02
Sale and/or Maturity of Investments	-	-	0.00	0.00	4.68	0.00	0.00
Net Cash From Financing Activities	123	-131	1,077	-358	-324	-22	-111
Net Cash From Continuing Financing Activities	123	29	1,077	-358	-324	-22	-111
Repayment of Debt	-1,019	-0.46	-1,920	-3,541	-1,289	-830	-161
Issuance of Debt	1,078	-	2,764	3,178	876	808	15
Issuance of Common Equity	0.00	0.00	-51	0.00	89	0.00	6.00
Other Financing Activities, net	0.17	0.00	285	4.61	-0.01	-0.04	29
Cash Interest Paid	20	14	22	60	25	24	17
Cash Income Taxes Paid	-	-	-	-	0.38	0.26	0.39

This table details how cash moves in and out of Offerpad Solutions' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-8.85	-33	-1.40	-5.54	-15	15	-38	-8.94	6.90	-5.47	13
Net Cash From Operating Activities	-95	-15	2.39	-54	40	33	-10	-13	40	51	9.05
Net Cash From Continuing Operating Activities	-95	-15	2.39	-54	40	33	-10	-13	40	51	9.05
Net Income / (Loss) Continuing Operations	-20	-15	-18	-14	-14	-17	-15	-11	-12	-8.82	-10
Consolidated Net Income / (Loss)	-20	-15	-18	-14	-14	-17	-15	-11	-12	-8.82	-10
Depreciation Expense	0.18	0.17	0.17	0.15	0.15	0.15	0.21	0.25	0.25	0.27	0.29
Amortization Expense	1.10	1.26	0.82	0.34	0.31	0.32	0.34	0.28	0.08	0.12	0.10
Non-Cash Adjustments To Reconcile Net Income	2.80	2.72	4.14	3.84	1.58	2.86	3.86	1.98	3.90	-1.26	1.19
Changes in Operating Assets and Liabilities, net	-79	-4.04	15	-45	51	47	0.48	-5.08	47	60	18
Net Cash From Investing Activities	2.28	1.66	-0.32	0.01	-0.88	-4.13	-0.99	-0.09	0.02	-	-0.00
Net Cash From Continuing Investing Activities	2.28	1.66	-0.32	0.01	-0.88	-4.13	-0.99	-0.09	0.02	-	-0.00
Purchase of Property, Plant & Equipment	-	-0.04	-0.35	-0.01	-0.88	-4.16	-0.99	-0.09	-	-	-0.02
Sale of Property, Plant & Equipment	-	-	0.03	0.01	0.00	0.04	0.00	-	0.02	-	0.02
Net Cash From Financing Activities	83	-20	-3.46	49	-53	-14	-27	4.62	-33	-56	4.42
Net Cash From Continuing Financing Activities	83	-20	-3.46	49	-53	-14	-27	4.62	-33	-56	4.42
Repayment of Debt	-191	-208	-246	-205	443	-822	-189	-143	236	-64	-59
Issuance of Debt	276	188	242	254	-496	808	163	148	-296	-	46
Issuance of Common Equity	-	-	0.00	-	-	-	0.00	-	-	-	18
Other Financing Activities, net	-1.18	-	-0.03	-0.00	-0.03	0.02	-0.16	-0.04	21	8.21	-0.03
Cash Interest Paid	9.47	1.32	6.43	6.20	6.58	5.26	4.59	4.50	3.87	3.90	1.98
Cash Income Taxes Paid	-	-	-	-	-	-	0.00	-	-	-0.01	-0.00

This table presents Offerpad Solutions' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	236	1,353	825	380	313	155
Total Current Assets	227	1,343	814	372	294	132
Cash & Equivalents	44	170	97	76	43	27
Restricted Cash	6.80	25	43	3.97	31	1.63
Accounts Receivable	2.31	6.17	2.35	9.94	3.85	7.94
Inventories, net	171	1,133	665	277	214	94
Prepaid Expenses	2.88	9.81	6.83	5.24	2.56	1.79
Plant, Property, & Equipment, net	8.23	5.15	5.19	4.52	9.13	15
Total Noncurrent Assets	0.35	4.96	5.70	3.57	9.71	8.41
Other Noncurrent Operating Assets	0.35	4.96	5.70	3.57	9.71	8.41
Total Liabilities & Shareholders' Equity	236	1,353	825	380	313	155
Total Liabilities	195	1,096	703	278	265	117
Total Current Liabilities	190	1,068	699	276	251	89
Short-Term Debt	50	862	606	227	195	78
Accounts Payable	2.15	6.40	4.65	4.95	1.92	1.67
Accrued Expenses	11	35	28	14	12	8.70
Other Current Liabilities	127	164	60	30	42	0.36
Total Noncurrent Liabilities	4.71	28	4.23	1.89	14	28
Long-Term Debt	4.71	-	-	-	0.00	15
Other Noncurrent Operating Liabilities	0.00	28	4.23	1.89	14	13
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-143	258	122	102	48	38
Total Preferred & Common Equity	-143	258	122	102	48	38
Total Common Equity	-143	258	122	102	48	38
Common Stock	5.91	390	403	500	508	545
Retained Earnings	-139	-132	-281	-398	-460	-506

This table presents Offerpad Solutions' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	422	370	407	338	274	268	223	150
Total Current Assets	413	353	391	323	255	250	206	127
Cash & Equivalents	106	69	57	49	31	23	31	41
Restricted Cash	7.41	9.98	16	9.92	4.86	4.10	2.69	0.81
Accounts Receivable	3.87	4.35	6.75	5.59	6.29	7.54	7.39	8.22
Inventories, net	290	266	308	256	211	213	162	75
Prepaid Expenses	6.46	4.35	3.55	2.55	2.66	2.57	2.21	2.61
Plant, Property, & Equipment, net	4.70	4.68	4.49	5.19	9.84	9.67	9.31	14
Total Noncurrent Assets	4.11	12	11	10	9.16	8.72	8.54	8.25
Other Noncurrent Operating Assets	4.11	12	11	10	9.16	8.72	8.54	8.25
Total Liabilities & Shareholders' Equity	422	370	407	338	274	268	223	150
Total Liabilities	307	282	329	274	240	243	184	104
Total Current Liabilities	305	272	320	263	226	230	156	76
Short-Term Debt	238	230	272	216	155	177	142	66
Accounts Payable	6.36	4.38	2.84	2.56	2.15	1.30	1.91	2.12
Accrued Expenses	22	13	13	10	13	12	10	8.38
Other Current Liabilities	38	25	32	34	56	39	1.15	0.19
Total Noncurrent Liabilities	2.33	9.48	9.34	10	14	14	28	27
Long-Term Debt	-	-	-	-	-	-	15	15
Other Noncurrent Operating Liabilities	2.33	9.48	9.34	10	14	14	13	13
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	115	88	78	65	34	25	40	46
Total Preferred & Common Equity	115	88	78	65	34	25	40	46
Total Common Equity	115	88	78	65	34	25	40	46
Common Stock	498	504	507	507	509	511	537	562
Retained Earnings	-382	-415	-429	-443	-475	-486	-498	-517

This table displays calculated financial ratios and metrics derived from Offerpad Solutions' official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	50,312,500.00	238,345,171.00	247,193,757.00	27,232,918.00	27,373,914.00	36,859,946.00
DEI Adjusted Shares Outstanding	0.00	3,354,167.00	15,889,678.00	16,479,584.00	27,232,918.00	27,373,914.00	36,859,946.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-6.89	0.41	-9.02	-4.30	-2.27	-1.26
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	-1.08%	94.54%	90.89%	-66.74%	-30.10%	-38.20%
EBITDA Growth	0.00%	62.93%	295.59%	-510.98%	5.26%	55.92%	25.10%
EBIT Growth	0.00%	61.31%	273.92%	-554.95%	3.98%	55.76%	25.10%
NOPAT Growth	0.00%	58.81%	299.98%	-562.75%	17.99%	55.90%	27.48%
Net Income Growth	0.00%	55.50%	127.94%	-2,400.51%	21.13%	46.97%	25.38%
EPS Growth	0.00%	55.56%	127.94%	-2,400.51%	51.16%	48.87%	33.92%
Operating Cash Flow Growth	0.00%	242.11%	-695.31%	133.13%	-14.33%	-92.04%	220.69%
Free Cash Flow Firm Growth	0.00%	0.00%	-1,476.12%	128.85%	6.88%	-82.16%	-3.17%
Invested Capital Growth	0.00%	0.00%	1,956.43%	-36.48%	-57.62%	-31.96%	-40.86%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	-4.59%	-24.94%	-6.72%	-9.58%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-479.88%	50.70%	-10.73%	18.46%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-556.55%	49.27%	-7.44%	17.80%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-804.05%	48.58%	-5.55%	15.96%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-913.04%	47.42%	-3.13%	15.49%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-913.04%	45.65%	-3.18%	14.29%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-23.62%	198.83%	-61.20%	175.14%	34.85%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-60.38%	449.86%	43.67%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-44.14%	3.86%	-23.94%	-38.54%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	6.91%	8.25%	10.04%	4.62%	5.34%	7.86%	7.40%
EBITDA Margin	-3.07%	-1.15%	1.16%	-2.49%	-7.08%	-4.47%	-5.41%
Operating Margin	-3.10%	-1.29%	0.95%	-3.22%	-7.94%	-5.01%	-5.88%
EBIT Margin	-3.10%	-1.21%	1.09%	-2.59%	-7.47%	-4.73%	-5.73%
Profit (Net Income) Margin	-4.83%	-2.17%	0.31%	-3.76%	-8.92%	-6.77%	-8.17%
Tax Burden Percent	100.49%	100.71%	97.44%	100.24%	100.14%	100.05%	100.96%
Interest Burden Percent	154.78%	177.62%	29.50%	144.97%	119.21%	143.01%	141.19%
Effective Tax Rate	0.00%	0.00%	2.56%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-42.83%	3.97%	-11.79%	-17.48%	-15.41%	-17.34%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-698.99%	0.16%	-22.29%	-31.88%	-37.66%	-42.39%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-70.32%	0.36%	-66.55%	-87.35%	-67.79%	-90.69%
Return on Equity (ROE)	0.00%	-113.14%	4.33%	-78.33%	-104.82%	-83.20%	-108.03%
Cash Return on Invested Capital (CROIC)	0.00%	-242.83%	-177.48%	32.84%	63.46%	22.63%	34.01%
Operating Return on Assets (OROA)	0.00%	-5.48%	2.83%	-9.39%	-16.30%	-12.54%	-13.91%
Return on Assets (ROA)	0.00%	-9.80%	0.81%	-13.65%	-19.46%	-17.95%	-19.83%
Return on Common Equity (ROCE)	0.00%	396.64%	1.66%	-78.33%	-104.82%	-83.20%	-108.03%
Return on Equity Simple (ROE_SIMPLE)	0.00%	16.14%	2.51%	-121.94%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-23	-9.63	19	-89	-73	-32	-23
NOPAT Margin	-2.17%	-0.90%	0.93%	-2.25%	-5.56%	-3.51%	-4.12%
Net Nonoperating Expense Percent (NNEP)	0.00%	656.16%	3.81%	10.50%	14.40%	22.26%	25.05%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-12.25%	-22.22%	-13.26%	-18.21%
Cost of Revenue to Revenue	93.09%	91.75%	89.96%	95.38%	94.66%	92.14%	92.60%
SG&A Expenses to Revenue	1.40%	1.64%	1.46%	1.49%	3.81%	4.42%	4.61%
R&D to Revenue	0.69%	0.68%	0.52%	0.31%	0.60%	0.49%	0.60%
Operating Expenses to Revenue	10.02%	9.54%	9.08%	7.84%	13.28%	12.87%	13.28%
Earnings before Interest and Taxes (EBIT)	-33	-13	22	-102	-98	-43	-33
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-33	-12	24	-98	-93	-41	-31
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	5.92	0.93	2.74	1.64	1.17
Price to Tangible Book Value (P/TBV)	0.00	0.00	5.92	0.93	2.74	1.64	1.17
Price to Revenue (P/Rev)	0.28	0.52	0.74	0.03	0.21	0.08	0.08
Price to Earnings (P/E)	0.00	0.00	236.13	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.42%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	16.49	2.37	0.99	1.71	1.18	1.06
Enterprise Value to Revenue (EV/Rev)	0.00	0.70	1.06	0.15	0.32	0.22	0.19
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	91.68	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	97.55	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	113.85	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	4.79	0.00	1.90	1.63	9.59	1.60
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	2.33	1.61	4.22	2.32
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	1.34	3.35	4.97	2.23	4.10	2.36
Long-Term Debt to Equity	0.00	0.12	0.00	0.00	0.00	0.00	0.38
Financial Leverage	0.00	0.10	2.25	2.99	2.74	1.80	2.14
Leverage Ratio	0.00	5.77	5.32	5.74	5.39	4.64	5.45
Compound Leverage Factor	0.00	10.25	1.57	8.32	6.42	6.63	7.69
Debt to Total Capital	0.00%	57.31%	76.99%	83.25%	69.06%	80.39%	70.23%
Short-Term Debt to Total Capital	0.00%	52.39%	76.99%	83.25%	69.06%	80.39%	58.81%
Long-Term Debt to Total Capital	0.00%	4.92%	0.00%	0.00%	0.00%	0.00%	11.41%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	192.36%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-149.67%	23.01%	16.75%	30.94%	19.61%	29.77%
Debt to EBITDA	0.00	-4.49	36.03	-6.16	-2.44	-4.76	-2.93
Net Debt to EBITDA	0.00	-0.34	27.90	-4.74	-1.58	-2.97	-2.02
Long-Term Debt to EBITDA	0.00	-0.39	0.00	0.00	0.00	0.00	-0.48
Debt to NOPAT	0.00	-5.70	44.75	-6.80	-3.11	-6.06	-3.86
Net Debt to NOPAT	0.00	-0.43	34.65	-5.22	-2.01	-3.78	-2.65
Long-Term Debt to NOPAT	0.00	-0.49	0.00	0.00	0.00	0.00	-0.63
Altman Z-Score	0.00	5.40	2.53	4.17	2.05	0.76	-1.04
Noncontrolling Interest Sharing Ratio	0.00%	450.56%	61.70%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	1.19	1.26	1.16	1.35	1.17	1.48
Quick Ratio	0.00	0.24	0.16	0.14	0.31	0.19	0.39
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-55	-861	248	265	47	46
Operating Cash Flow to CapEx	-11,131.15%	5,418.61%	-7,910.08%	28,542.24%	206,009.45%	391.16%	6,302.83%
Free Cash Flow to Firm to Interest Expense	0.00	-5.44	-54.31	5.40	14.07	2.53	3.42
Operating Cash Flow to Interest Expense	-5.96	15.44	-58.17	6.64	13.87	1.12	4.98
Operating Cash Flow Less CapEx to Interest Expense	-6.01	15.15	-58.91	6.62	13.87	0.83	4.91
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	4.51	2.61	3.63	2.18	2.65	2.43
Accounts Receivable Turnover	0.00	460.92	488.66	928.32	213.99	133.33	96.35
Inventory Turnover	0.00	5.70	2.86	4.20	2.64	3.45	3.41
Fixed Asset Turnover	0.00	129.30	309.55	764.47	270.71	134.68	47.72
Accounts Payable Turnover	0.00	454.39	435.81	682.58	259.40	246.54	292.99
Days Sales Outstanding (DSO)	0.00	0.79	0.75	0.39	1.71	2.74	3.79
Days Inventory Outstanding (DIO)	0.00	64.05	127.76	87.01	138.05	105.77	106.90
Days Payable Outstanding (DPO)	0.00	0.80	0.84	0.53	1.41	1.48	1.25
Cash Conversion Cycle (CCC)	0.00	64.04	127.67	86.86	138.35	107.03	109.44
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	45	925	587	249	169	100
Invested Capital Turnover	0.00	47.33	4.27	5.23	3.14	4.39	4.21
Increase / (Decrease) in Invested Capital	0.00	45	880	-337	-338	-80	-69
Enterprise Value (EV)	0.00	742	2,193	579	426	200	107
Market Capitalization	300	553	1,525	114	279	78	45
Book Value per Share	$0.00	($2.85)	$1.08	$0.49	$3.74	$1.74	$1.04
Tangible Book Value per Share	$0.00	($2.85)	$1.08	$0.49	$3.74	$1.74	$1.04
Total Capital	0.00	96	1,119	728	329	243	128
Total Debt	0.00	55	862	606	227	195	90
Total Long-Term Debt	0.00	4.71	0.00	0.00	0.00	0.00	15
Net Debt	0.00	4.11	667	466	147	122	62
Capital Expenditures (CapEx)	0.98	2.86	12	1.07	0.13	5.33	1.06
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	36	943	581	243	165	90
Debt-free Net Working Capital (DFNWC)	0.00	87	1,137	721	323	239	118
Net Working Capital (NWC)	0.00	37	275	115	96	43	43
Net Nonoperating Expense (NNE)	29	13	13	59	44	30	23
Net Nonoperating Obligations (NNO)	0.00	4.11	667	466	147	122	62
Total Depreciation and Amortization (D&A)	0.42	0.70	1.44	3.97	5.07	2.40	1.79
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	3.42%	45.53%	14.70%	18.47%	17.96%	15.89%
Debt-free Net Working Capital to Revenue	0.00%	8.19%	54.92%	18.25%	24.55%	25.97%	20.85%
Net Working Capital to Revenue	0.00%	3.48%	13.30%	2.92%	7.27%	4.71%	7.55%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.75	($9.15)	($4.44)	($2.27)	($1.50)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	7.90M	16.34M	26.39M	27.41M	30.99M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.75	($9.15)	($4.44)	($2.27)	($1.50)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	9.55M	16.34M	26.39M	27.41M	30.99M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	15.94M	16.49M	27.29M	27.38M	47.21M
Normalized Net Operating Profit after Tax (NOPAT)	-23	-9.63	19	-89	-73	-32	-23
Normalized NOPAT Margin	-2.17%	-0.90%	0.93%	-2.25%	-5.56%	-3.51%	-4.12%
Pre Tax Income Margin	-4.81%	-2.16%	0.32%	-3.75%	-8.91%	-6.76%	-8.09%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	-1.83	-1.29	1.42	-2.22	-5.21	-2.33	-2.43
NOPAT to Interest Expense	-1.28	-0.96	1.22	-1.94	-3.88	-1.72	-1.74
EBIT Less CapEx to Interest Expense	-1.88	-1.57	0.68	-2.25	-5.21	-2.61	-2.51
NOPAT Less CapEx to Interest Expense	-1.33	-1.25	0.48	-1.96	-3.88	-2.01	-1.82
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-20.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Offerpad Solutions' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	27,225,511.00	27,232,918.00	27,232,918.00	27,301,933.00	27,353,992.00	27,373,914.00	27,380,438.00	27,543,087.00	30,583,561.00	36,859,946.00	47,210,647.00
DEI Adjusted Shares Outstanding	27,225,511.00	27,232,918.00	27,232,918.00	27,301,933.00	27,353,992.00	27,373,914.00	27,380,438.00	27,543,087.00	30,583,561.00	36,859,946.00	47,210,647.00
DEI Earnings Per Adjusted Shares Outstanding	-0.73	-0.57	-0.64	-0.50	-0.49	-0.63	-0.55	-0.40	-0.38	-0.24	-0.21
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-71.50%	-64.49%	-53.19%	9.11%	-11.17%	-27.53%	-43.69%	-36.16%	-36.23%	-34.52%	-50.17%
EBITDA Growth	78.49%	91.53%	77.36%	54.24%	44.50%	-44.88%	4.80%	23.87%	8.73%	54.24%	25.92%
EBIT Growth	76.96%	90.26%	75.94%	54.71%	46.07%	-29.22%	7.92%	22.12%	9.78%	52.97%	26.07%
NOPAT Growth	72.17%	89.76%	73.77%	54.84%	54.33%	-21.50%	15.08%	21.09%	24.46%	46.39%	21.73%
Net Income Growth	75.02%	87.25%	70.54%	38.32%	32.27%	-12.20%	14.03%	20.89%	14.28%	49.09%	32.70%
EPS Growth	84.98%	92.04%	74.50%	39.02%	32.88%	-6.78%	14.06%	22.00%	24.49%	69.84%	60.00%
Operating Cash Flow Growth	-559.94%	-103.86%	-99.44%	1.02%	141.88%	316.91%	-526.49%	75.23%	0.90%	51.95%	188.90%
Free Cash Flow Firm Growth	264.96%	26.92%	-117.77%	-111.27%	-98.65%	-78.83%	170.84%	186.33%	411.30%	-8.45%	-19.16%
Invested Capital Growth	-77.21%	-57.62%	71.92%	60.48%	-7.09%	-31.96%	-35.82%	-36.66%	-26.81%	-40.86%	-44.97%
Revenue Q/Q Growth	1.77%	2.66%	18.67%	-12.00%	-17.15%	-16.24%	-7.79%	-0.24%	-17.24%	-13.99%	-29.83%
EBITDA Q/Q Growth	25.41%	38.03%	-29.83%	23.74%	9.53%	-61.74%	14.69%	39.02%	-8.46%	18.90%	-38.10%
EBIT Q/Q Growth	23.78%	33.90%	-21.29%	25.88%	9.25%	-58.39%	13.57%	37.31%	-5.13%	17.45%	-35.87%
NOPAT Q/Q Growth	10.50%	42.43%	-20.74%	27.41%	9.49%	-53.17%	15.60%	32.56%	13.35%	-8.71%	-23.21%
Net Income Q/Q Growth	10.55%	22.74%	-13.43%	21.31%	1.78%	-27.98%	13.09%	27.59%	-6.43%	23.99%	-14.89%
EPS Q/Q Growth	10.98%	19.18%	-8.47%	21.88%	2.00%	-28.57%	12.70%	29.09%	5.13%	48.65%	-15.79%
Operating Cash Flow Q/Q Growth	-72.05%	83.79%	115.57%	-2,379.34%	172.81%	-16.06%	-130.62%	-32.37%	396.61%	26.41%	-82.09%
Free Cash Flow Firm Q/Q Growth	-19.01%	-58.58%	-133.20%	-1.21%	109.68%	550.77%	11.08%	23.33%	-42.65%	16.52%	-1.91%
Invested Capital Q/Q Growth	39.16%	3.86%	-3.74%	15.36%	-19.44%	-23.94%	-9.20%	13.84%	-6.91%	-38.54%	-15.52%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	10.23%	6.94%	7.92%	8.71%	8.24%	6.08%	6.54%	8.85%	7.04%	7.02%	6.94%
EBITDA Margin	-6.10%	-3.68%	-4.03%	-3.49%	-3.81%	-7.37%	-6.81%	-4.17%	-5.46%	-5.15%	-10.13%
Operating Margin	-8.34%	-4.68%	-4.76%	-3.93%	-4.29%	-7.84%	-7.18%	-4.85%	-5.08%	-6.42%	-11.28%
EBIT Margin	-6.65%	-4.28%	-4.38%	-3.69%	-4.04%	-7.63%	-7.16%	-4.50%	-5.71%	-5.48%	-10.62%
Profit (Net Income) Margin	-8.53%	-6.42%	-6.14%	-5.49%	-6.51%	-9.94%	-9.37%	-6.80%	-8.75%	-7.73%	-12.65%
Tax Burden Percent	100.03%	99.95%	100.71%	99.61%	100.18%	99.64%	100.25%	100.28%	103.39%	99.93%	100.16%
Interest Burden Percent	128.29%	150.06%	139.28%	149.50%	160.89%	130.70%	130.63%	150.85%	148.11%	141.08%	119.02%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-15.84%	-10.29%	-17.41%	-12.39%	-12.79%	-24.12%	-20.29%	-10.58%	-11.58%	-18.94%	-32.26%
ROIC Less NNEP Spread (ROIC-NNEP)	-17.19%	-12.76%	-29.06%	-18.17%	-17.95%	-29.88%	-25.44%	-13.71%	-16.48%	-22.95%	-37.07%
Return on Net Nonoperating Assets (RNNOA)	-45.12%	-34.97%	-16.53%	-20.51%	-28.19%	-53.79%	-56.38%	-46.91%	-44.31%	-49.11%	-73.34%
Return on Equity (ROE)	-60.96%	-45.26%	-33.94%	-32.90%	-40.98%	-77.91%	-76.67%	-57.50%	-55.89%	-68.05%	-105.60%
Cash Return on Invested Capital (CROIC)	103.73%	63.46%	-77.35%	-63.36%	-5.85%	22.63%	27.97%	31.89%	16.54%	34.01%	39.89%
Operating Return on Assets (OROA)	-12.52%	-9.34%	-12.25%	-9.81%	-10.45%	-20.25%	-17.64%	-9.38%	-12.76%	-13.31%	-24.38%
Return on Assets (ROA)	-16.07%	-14.01%	-17.18%	-14.61%	-16.85%	-26.37%	-23.10%	-14.18%	-19.55%	-18.76%	-29.06%
Return on Common Equity (ROCE)	-60.96%	-45.26%	-33.94%	-32.90%	-40.98%	-77.91%	-76.67%	-57.50%	-55.89%	-68.05%	-105.60%
Return on Equity Simple (ROE_SIMPLE)	-193.47%	0.00%	-85.45%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-14	-7.88	-9.51	-6.90	-6.25	-9.57	-8.08	-5.45	-4.72	-5.13	-6.32
NOPAT Margin	-5.84%	-3.28%	-3.33%	-2.75%	-3.00%	-5.49%	-5.03%	-3.40%	-3.56%	-4.50%	-7.89%
Net Nonoperating Expense Percent (NNEP)	1.35%	2.47%	11.65%	5.78%	5.16%	5.77%	5.15%	3.12%	4.90%	4.02%	4.81%
Return On Investment Capital (ROIC_SIMPLE)	-	-2.39%	-2.99%	-1.98%	-2.22%	-3.94%	-4.26%	-2.70%	-2.40%	-4.00%	-5.01%
Cost of Revenue to Revenue	89.77%	93.06%	92.08%	91.29%	91.76%	93.92%	93.46%	91.15%	92.96%	92.98%	93.06%
SG&A Expenses to Revenue	6.03%	3.65%	4.19%	4.20%	3.97%	5.67%	4.48%	4.86%	3.88%	5.30%	7.65%
R&D to Revenue	0.92%	0.51%	0.62%	0.38%	0.46%	0.48%	0.63%	0.62%	0.59%	0.54%	1.11%
Operating Expenses to Revenue	18.58%	11.62%	12.68%	12.64%	12.53%	13.92%	13.72%	13.70%	12.12%	13.44%	18.22%
Earnings before Interest and Taxes (EBIT)	-16	-10	-12	-9.26	-8.40	-13	-11	-7.21	-7.58	-6.26	-8.50
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-14	-8.86	-12	-8.77	-7.94	-13	-11	-6.68	-7.24	-5.87	-8.11
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.31	2.74	2.50	1.56	1.72	1.64	1.33	1.02	3.20	1.17	0.67
Price to Tangible Book Value (P/TBV)	2.31	2.74	2.50	1.56	1.72	1.64	1.33	1.02	3.20	1.17	0.67
Price to Revenue (P/Rev)	0.15	0.21	0.22	0.12	0.11	0.08	0.06	0.04	0.20	0.08	0.06
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.63	1.71	1.55	1.16	1.21	1.18	1.07	1.00	1.54	1.06	0.82
Enterprise Value to Revenue (EV/Rev)	0.22	0.32	0.38	0.32	0.27	0.22	0.21	0.25	0.40	0.19	0.14
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.58	1.63	0.00	0.00	0.00	9.59	19.96	3.57	5.06	1.60	0.81
Enterprise Value to Free Cash Flow (EV/FCFF)	0.58	1.61	0.00	0.00	0.00	4.22	3.00	2.44	7.86	2.32	1.47
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.07	2.23	2.61	3.51	3.34	4.10	4.54	7.23	3.93	2.36	1.75
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.37	0.38	0.32
Financial Leverage	2.63	2.74	0.57	1.13	1.57	1.80	2.22	3.42	2.69	2.14	1.98
Leverage Ratio	5.22	5.39	2.93	3.60	4.23	4.64	5.27	6.61	5.37	5.45	5.30
Compound Leverage Factor	6.70	8.08	4.08	5.39	6.80	6.06	6.88	9.97	7.96	7.69	6.31
Debt to Total Capital	67.37%	69.06%	72.31%	77.80%	76.98%	80.39%	81.94%	87.85%	79.73%	70.23%	63.70%
Short-Term Debt to Total Capital	67.37%	69.06%	72.31%	77.80%	76.98%	80.39%	81.94%	87.85%	72.29%	58.81%	52.07%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	7.44%	11.41%	11.63%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	32.63%	30.94%	27.69%	22.20%	23.02%	19.61%	18.06%	12.15%	20.27%	29.77%	36.30%
Debt to EBITDA	-1.26	-2.44	-4.27	-6.26	-5.84	-4.76	-3.83	-4.62	-4.16	-2.93	-2.88
Net Debt to EBITDA	-0.66	-1.58	-2.82	-4.58	-4.26	-2.97	-2.95	-3.92	-3.27	-2.02	-1.39
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.39	-0.48	-0.53
Debt to NOPAT	-1.67	-3.11	-4.96	-7.16	-7.09	-6.06	-5.04	-6.04	-5.64	-3.86	-3.72
Net Debt to NOPAT	-0.88	-2.01	-3.27	-5.24	-5.17	-3.78	-3.88	-5.13	-4.43	-2.65	-1.79
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.53	-0.63	-0.68
Altman Z-Score	3.59	2.81	1.73	1.36	1.45	1.08	0.57	0.15	0.27	-0.48	-1.18
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.36	1.35	1.30	1.22	1.23	1.17	1.13	1.09	1.32	1.48	1.66
Quick Ratio	0.36	0.31	0.27	0.20	0.21	0.19	0.16	0.13	0.25	0.39	0.64
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	798	331	-110	-111	11	70	78	96	55	64	63
Operating Cash Flow to CapEx	0.00%	-41,413.51%	738.70%	0.00%	4,494.32%	805.36%	-1,023.74%	-15,847.06%	0.00%	0.00%	452,300.00%
Free Cash Flow to Firm to Interest Expense	181.18	64.15	-22.38	-24.25	2.10	17.14	22.08	26.17	15.08	24.93	38.87
Operating Cash Flow to Interest Expense	-21.46	-2.97	0.49	-11.87	7.74	8.14	-2.89	-3.68	10.96	19.65	5.59
Operating Cash Flow Less CapEx to Interest Expense	-21.46	-2.98	0.42	-11.87	7.57	7.13	-3.17	-3.70	10.96	19.65	5.59
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.88	2.18	2.80	2.66	2.59	2.65	2.47	2.09	2.24	2.43	2.30
Accounts Receivable Turnover	269.51	213.99	293.35	245.91	208.18	133.33	149.26	98.45	96.78	96.35	67.14
Inventory Turnover	2.36	2.64	4.12	3.57	3.32	3.45	3.08	2.50	2.79	3.41	3.15
Fixed Asset Turnover	350.34	270.71	203.20	215.92	199.23	134.68	109.40	99.32	86.60	47.72	40.22
Accounts Payable Turnover	245.39	259.40	205.68	201.79	203.23	246.54	224.86	314.84	260.65	292.99	210.67
Days Sales Outstanding (DSO)	1.35	1.71	1.24	1.48	1.75	2.74	2.45	3.71	3.77	3.79	5.44
Days Inventory Outstanding (DIO)	154.34	138.05	88.51	102.26	109.91	105.77	118.58	145.93	131.03	106.90	115.77
Days Payable Outstanding (DPO)	1.49	1.41	1.77	1.81	1.80	1.48	1.62	1.16	1.40	1.25	1.73
Cash Conversion Cycle (CCC)	154.20	138.35	87.98	101.93	109.87	107.03	119.40	148.48	133.41	109.44	119.47
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	240	249	240	276	223	169	154	175	163	100	85
Invested Capital Turnover	2.71	3.14	5.22	4.51	4.26	4.39	4.04	3.12	3.26	4.21	4.09
Increase / (Decrease) in Invested Capital	-812	-338	100	104	-17	-80	-86	-101	-60	-69	-69
Enterprise Value (EV)	390	426	372	320	269	200	165	176	251	107	70
Market Capitalization	266	279	221	121	111	78	45	25	128	45	31
Book Value per Share	$4.23	$3.74	$3.22	$2.84	$2.37	$1.74	$1.25	$0.89	$1.30	$1.04	$0.97
Tangible Book Value per Share	$4.23	$3.74	$3.22	$2.84	$2.37	$1.74	$1.25	$0.89	$1.30	$1.04	$0.97
Total Capital	353	329	318	349	281	243	190	202	197	128	126
Total Debt	238	227	230	272	216	195	155	177	157	90	80
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	15	15	15
Net Debt	125	147	152	199	158	122	120	151	123	62	39
Capital Expenditures (CapEx)	0.00	0.04	0.32	-0.01	0.88	4.13	0.99	0.09	-0.02	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	233	243	233	270	218	165	149	171	159	90	75
Debt-free Net Working Capital (DFNWC)	347	323	311	343	276	239	185	197	192	118	116
Net Working Capital (NWC)	109	96	81	71	60	43	30	20	50	43	51
Net Nonoperating Expense (NNE)	6.31	7.57	8.01	6.88	7.29	7.76	6.98	5.46	6.88	3.69	3.81
Net Nonoperating Obligations (NNO)	125	147	152	199	158	122	120	151	123	62	39
Total Depreciation and Amortization (D&A)	1.28	1.44	0.98	0.48	0.46	0.47	0.55	0.53	0.34	0.38	0.39
Debt-free, Cash-free Net Working Capital to Revenue	13.32%	18.47%	23.50%	26.72%	22.09%	17.96%	18.79%	24.25%	25.25%	15.89%	15.36%
Debt-free Net Working Capital to Revenue	19.80%	24.55%	31.44%	33.94%	28.02%	25.97%	23.29%	28.05%	30.60%	20.85%	23.90%
Net Working Capital to Revenue	6.21%	7.27%	8.20%	7.05%	6.04%	4.71%	3.73%	2.84%	7.97%	7.55%	10.41%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.73)	($0.59)	($0.64)	($0.50)	($0.49)	($0.63)	($0.55)	($0.39)	($0.37)	($0.19)	($0.22)
Adjusted Weighted Average Basic Shares Outstanding	27.28M	26.39M	27.34M	27.39M	27.44M	27.41M	27.56M	27.77M	31.28M	30.99M	46.19M
Adjusted Diluted Earnings per Share	($0.73)	($0.59)	($0.64)	($0.50)	($0.49)	($0.63)	($0.55)	($0.39)	($0.37)	($0.19)	($0.22)
Adjusted Weighted Average Diluted Shares Outstanding	27.28M	26.39M	27.34M	27.39M	27.44M	27.41M	27.56M	27.77M	31.28M	30.99M	46.19M
Adjusted Basic & Diluted Earnings per Share	$0.00	($0.59)	$0.00	$0.00	$0.00	($0.63)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	27.23M	27.29M	27.30M	27.35M	27.37M	27.38M	27.54M	30.58M	36.86M	47.21M	47.32M
Normalized Net Operating Profit after Tax (NOPAT)	-14	-7.88	-9.51	-6.90	-6.25	-9.57	-8.08	-5.45	-4.72	-5.13	-6.32
Normalized NOPAT Margin	-5.84%	-3.28%	-3.33%	-2.75%	-3.00%	-5.49%	-5.03%	-3.40%	-3.56%	-4.50%	-7.89%
Pre Tax Income Margin	-8.53%	-6.42%	-6.09%	-5.51%	-6.49%	-9.98%	-9.35%	-6.78%	-8.46%	-7.73%	-12.63%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-3.53	-2.00	-2.55	-2.02	-1.64	-3.26	-3.26	-1.97	-2.08	-2.43	-5.26
NOPAT to Interest Expense	-3.10	-1.53	-1.94	-1.51	-1.22	-2.34	-2.29	-1.49	-1.29	-2.00	-3.91
EBIT Less CapEx to Interest Expense	-3.53	-2.00	-2.61	-2.02	-1.81	-4.27	-3.55	-1.99	-2.07	-2.43	-5.26
NOPAT Less CapEx to Interest Expense	-3.10	-1.54	-2.00	-1.51	-1.39	-3.35	-2.58	-1.51	-1.29	-2.00	-3.91
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Offerpad Solutions (NYSE: OPAD) continues to post large losses, but Q1 2026 showed some notable improvement in operating cash flow compared with the weak first quarter of 2025. Revenue fell sharply year over year, yet the company generated positive operating cash flow in Q1 2026 thanks to better working-capital movements and lower cash burn than in the prior-year period. That said, the balance sheet remains highly leveraged and the business is still not profitable.

Quarterly trend snapshot:

Q1 2026 operating cash flow was $9.0 million, a solid improvement from -$10.2 million in Q1 2025.
Q1 2026 net cash change was +$13.5 million, helped by financing inflows.
Cash & equivalents rose to $40.8 million at March 31, 2026, up from $30.8 million at March 31, 2025.
Short-term debt fell sharply from $155.3 million in Q1 2025 to $65.7 million in Q1 2026.
Total equity improved to $45.8 million from $34.2 million a year earlier.
Q1 2026 gross margin remained modest, with gross profit of $5.6 million on revenue of $80.1 million.
The company still relied on financing activity in Q1 2026, including $45.9 million of debt issuance and $18.0 million of common equity issuance.
Inventory remained a major balance-sheet item at $74.7 million, though down materially from $210.8 million in Q1 2025 and $162.4 million in Q3 2025.
Revenue fell to $80.1 million in Q1 2026 from $160.7 million in Q1 2025, showing a steep year-over-year decline.
The company reported a $10.1 million net loss in Q1 2026, following a $15.1 million loss in Q1 2025.
Operating expenses remained elevated at $14.6 million, while marketing and SG&A together totaled $13.7 million.
Interest expense is still a heavy burden, with $1.6 million in Q1 2026 and $1.98 million in cash interest paid.
Liquidity is still tied to debt: total liabilities were $103.9 million versus equity of just $45.8 million, and the company carries both short- and long-term debt.

What stands out over the last several years: Offerpad’s results have been volatile, with big swings in revenue and inventory tied to the housing market and its home-flipping model. In 2024 and 2025, revenue generally trended lower from earlier peaks, while losses persisted each quarter. The encouraging development is that management has been improving cash discipline, especially by reducing inventory and generating positive operating cash flow in some periods. However, the company is still dependent on external financing and remains vulnerable if housing demand weakens or funding becomes tighter.

Bottom line: OPAD has shown some progress on cash flow and debt reduction, but the core story is still one of low margins, recurring losses, and balance-sheet risk. Investors should watch whether revenue stabilizes and whether the company can sustain positive operating cash flow without leaning on new debt or dilution.

07/19/26 07:40 AM ETAI Generated. May Contain Errors.

Offerpad Solutions Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Offerpad Solutions' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Offerpad Solutions' net income appears to be on an upward trend, with a most recent value of -$46.38 million in 2025, falling from -$51.95 million in 2019. The previous period was -$62.16 million in 2024. See where experts think Offerpad Solutions is headed by visiting Offerpad Solutions' forecast page.

Offerpad Solutions' total operating income in 2025 was -$33.39 million, based on the following breakdown:

Total Gross Profit: $42.04 million
Total Operating Expenses: $75.43 million

Over the last 6 years, Offerpad Solutions' total revenue changed from $1.08 billion in 2019 to $567.81 million in 2025, a change of -47.2%.

Offerpad Solutions' total liabilities were at $116.55 million at the end of 2025, a 56.1% decrease from 2024, and a 40.2% decrease since 2020.

In the past 5 years, Offerpad Solutions' cash and equivalents has ranged from $26.54 million in 2025 to $169.82 million in 2021, and is currently $26.54 million as of their latest financial filing in 2025.

Over the last 6 years, Offerpad Solutions' book value per share changed from 0.00 in 2019 to 1.04 in 2025, a change of 103.7%.

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Financial statements for NYSE:OPAD last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Offerpad Solutions (OPAD) Financials

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Offerpad Solutions (OPAD) Financials

Annual Income Statements for Offerpad Solutions

Quarterly Income Statements for Offerpad Solutions

Annual Cash Flow Statements for Offerpad Solutions

Quarterly Cash Flow Statements for Offerpad Solutions

Annual Balance Sheets for Offerpad Solutions

Quarterly Balance Sheets for Offerpad Solutions

Annual Metrics And Ratios for Offerpad Solutions

Quarterly Metrics And Ratios for Offerpad Solutions

Financials Breakdown Chart

Key Financial Trends

Offerpad Solutions Financials - Frequently Asked Questions

When does Offerpad Solutions' financial year end?

How has Offerpad Solutions' net income changed over the last 6 years?

What is Offerpad Solutions' operating income?

How has Offerpad Solutions' revenue changed over the last 6 years?

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How has Offerpad Solutions' book value per share changed over the last 6 years?

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