NASDAQ : OPAD
Offerpad Solutions Inc. — Financial statements
Real Estate · Real Estate Services · United States
Last price 2.25 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 10.87M
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Financial statements
Offerpad Solutions Inc. (OPAD) reported revenue of 404.53M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 404.53M | 567.81M | 918.82M | 1.31B | 3.95B | 2.07B |
| Cost of Revenue | 374.51M | 525.77M | 846.62M | 1.24B | 3.77B | 1.86B |
| Gross Profit | 30.02M | 42.04M | 72.19M | 70.18M | 182.42M | 207.81M |
| Selling, General & Admin | 58.12M | 72.03M | 113.71M | 166.65M | 297.65M | 177.19M |
| Research & Development | 3.24M | 3.40M | 4.52M | 7.95M | 12.09M | 10.86M |
| Operating Expenses | 61.36M | 75.43M | 118.24M | 174.59M | 309.74M | 188.05M |
| Operating Income | -31.34M | -33.39M | -46.04M | -104.41M | -127.32M | 19.77M |
| Interest Expense | -9.22M | -13.40M | -18.68M | -18.86M | -45.99M | -15.85M |
| Interest & Investment Income | 1.14M | 1.14M | 2.46M | 6.22M | ||
| Other Non Operating Income (Expenses) | 118.00K | -130.00K | 240.00K | 68.00K | 25.05M | 2.47M |
| EBT Excluding Unusual Items | -39.30M | -45.78M | -62.02M | -116.98M | -148.25M | 6.38M |
| Gain (Loss) on Sale of Assets | -138.00K | -162.00K | -105.00K | -76.00K | 246.00K | |
| Pretax Income | -39.44M | -45.94M | -62.13M | -117.06M | -148.25M | 6.63M |
| Income Tax Expense | 406.00K | 441.00K | 31.00K | 163.00K | 359.00K | 170.00K |
| Net Income | -39.84M | -46.38M | -62.16M | -117.22M | -148.61M | 6.46M |
| Net Income to Common | -39.84M | -46.38M | -62.16M | -117.22M | -148.61M | 6.46M |
| Shares Outstanding (Basic) | 4.07M | 3.10M | 2.74M | 2.64M | 1.63M | 790.50K |
| Shares Outstanding (Diluted) | 4.07M | 3.10M | 2.74M | 2.64M | 1.63M | 954.80K |
| EPS (Basic) | -9.79 | -14.97 | -22.68 | -44.43 | -90.93 | 8.17 |
| EPS (Diluted) | -9.82 | -15.00 | -22.70 | -44.43 | -90.93 | 6.80 |
| Free Cash Flow | 73.59M | 65.73M | 15.43M | 261.50M | 304.33M | -935.61M |
| Free Cash Flow Per Share | 18.09 | 21.21 | 5.63 | 99.11 | 186.22 | -979.90 |
| Gross Margin | 7.42% | 7.40% | 7.86% | 5.34% | 4.62% | 10.04% |
| Operating Margin | -7.75% | -5.88% | -5.01% | -7.94% | -3.22% | 0.95% |
| Profit Margin | -9.85% | -8.17% | -6.77% | -8.92% | -3.76% | 0.31% |
| Free Cash Flow Margin | 18.19% | 11.58% | 1.68% | 19.89% | 7.70% | -45.19% |
| EBITDA | -30.25M | -32.41M | -45.43M | -103.69M | -126.30M | 20.29M |
| EBITDA Margin | -7.48% | -5.71% | -4.94% | -7.89% | -3.19% | 0.98% |
| D&A For EBITDA | 1.09M | 979.00K | 611.00K | 728.00K | 1.02M | 523.00K |
| EBIT | -31.34M | -33.39M | -46.04M | -104.41M | -127.32M | 19.77M |
| EBIT Margin | -7.75% | -5.88% | -5.01% | -7.94% | -3.22% | 0.95% |
| Effective Tax Rate | 2.56% | |||||
| Advertising Expenses | 7.20M | 12.10M | 30.90M | 46.50M | 45.30M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 33.12M | 26.54M | 43.02M | 75.97M | 97.24M | 169.82M |
| Cash & Short-Term Investments | 33.12M | 26.54M | 43.02M | 75.97M | 97.24M | 169.82M |
| Receivables | 6.13M | 7.94M | 3.85M | 9.94M | 2.35M | 6.17M |
| Inventory | 94.23M | 93.79M | 214.17M | 276.50M | 664.70M | 1.13B |
| Prepaid Expenses | 2.92M | 1.79M | 2.56M | 5.24M | 6.83M | 9.81M |
| Restricted Cash | 1.74M | 1.63M | 30.61M | 3.97M | 43.06M | 24.62M |
| Total Current Assets | 138.14M | 131.69M | 294.21M | 371.61M | 814.18M | 1.34B |
| Property, Plant & Equipment | 21.19M | 22.08M | 17.71M | 7.86M | 10.66M | 9.93M |
| Other Long-Term Assets | 959.00K | 997.00K | 1.13M | 234.00K | 227.00K | 175.00K |
| Total Assets | 160.29M | 154.77M | 313.05M | 379.69M | 825.07M | 1.35B |
| Accounts Payable | 2.88M | 1.67M | 1.92M | 4.95M | 4.65M | 6.40M |
| Accrued Expenses | 4.33M | 5.57M | 7.97M | 10.11M | 23.39M | 32.45M |
| Current Portion of Long-Term Debt | 85.17M | 78.08M | 237.24M | 257.22M | 666.07M | 1.03B |
| Current Portion of Leases | 1.11M | 1.10M | 963.00K | 2.27M | 2.26M | 1.34M |
| Other Current Liabilities | 2.21M | 2.39M | 2.87M | 1.47M | 2.59M | 1.23M |
| Total Current Liabilities | 95.70M | 88.80M | 250.97M | 276.03M | 698.96M | 1.07B |
| Long-Term Debt | 14.72M | 14.65M | ||||
| Long-Term Leases | 12.56M | 13.10M | 14.20M | 1.42M | 3.69M | 3.83M |
| Other Long-Term Liabilities | 231.00K | 471.00K | 539.00K | 24.06M | ||
| Total Liabilities | 122.98M | 116.55M | 265.40M | 277.92M | 703.19M | 1.10B |
| Common Stock | 4.00K | 3.00K | 3.00K | 2.00K | 24.00K | |
| Additional Paid-In Capital | 563.16M | 544.64M | 507.70M | 499.66M | 402.54M | 389.60M |
| Retained Earnings | -525.85M | -506.43M | -460.05M | -397.89M | -280.67M | -132.06M |
| Total Common Equity | 37.31M | 38.22M | 47.65M | 101.78M | 121.88M | 257.57M |
| Shareholders' Equity | 37.31M | 38.22M | 47.65M | 101.78M | 121.88M | 257.57M |
| Total Liabilities & Equity | 160.29M | 154.77M | 313.05M | 379.69M | 825.07M | 1.35B |
| Total Debt | 113.56M | 106.93M | 252.41M | 260.91M | 672.02M | 1.03B |
| Net Cash (Debt) | -80.45M | -80.39M | -209.39M | -184.95M | -574.78M | -861.55M |
| Net Cash Per Share | -19.77 | -25.94 | -76.39 | -70.10 | -351.70 | -902.34 |
| Filing Date Shares Outstanding | 4.83M | 4.72M | 2.74M | 2.73M | 2.54M | 2.48M |
| Total Common Shares Outstanding | 4.83M | 3.72M | 2.74M | 2.72M | 2.54M | 2.48M |
| Working Capital | 42.43M | 42.89M | 43.25M | 95.58M | 115.22M | 275.36M |
| Book Value Per Share | 7.72 | 10.27 | 17.40 | 37.37 | 48.04 | 103.77 |
| Tangible Book Value | 37.31M | 38.22M | 47.65M | 101.78M | 121.88M | 257.57M |
| Tangible Book Value Per Share | 7.72 | 10.27 | 17.40 | 37.37 | 48.04 | 103.77 |
| Land | 1.24M | 1.24M | ||||
| Machinery | 6.28M | 6.44M | 5.89M | 6.18M | 6.08M | 5.50M |
| Construction In Progress | 5.44M | 32.00K | 136.00K | |||
| Leasehold Improvements | 5.93M | 5.96M | 1.05M | 1.13M | 1.09M | 797.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -39.84M | -46.38M | -62.16M | -117.22M | -148.61M | 6.46M |
| Depreciation & Amortization | 1.09M | 979.00K | 611.00K | 728.00K | 1.02M | 523.00K |
| Other Amortization | 394.00K | 815.00K | 1.79M | 4.34M | 2.95M | 916.00K |
| Loss (Gain) From Sale of Assets | 138.00K | 162.00K | 105.00K | 76.00K | -246.00K | |
| Stock-Based Compensation | 1.74M | 2.83M | 8.08M | 7.92M | 8.31M | 3.08M |
| Other Operating Activities | 3.12M | 5.48M | 4.23M | 6.75M | 70.29M | 379.00K |
| Change in Accounts Receivable | 1.41M | -4.09M | 6.09M | -7.58M | 3.81M | -3.85M |
| Change in Inventory | 109.67M | 109.41M | 57.85M | 379.26M | 374.06M | -949.59M |
| Change in Accounts Payable | 1.58M | -255.00K | -3.02M | 299.00K | -1.75M | 4.13M |
| Change in Other Net Operating Assets | -5.66M | -2.13M | 7.26M | -12.93M | -4.68M | 16.27M |
| Operating Cash Flow | 73.65M | 66.81M | 20.83M | 261.63M | 305.40M | -921.92M |
| Capital Expenditures | -53.00K | -1.08M | -5.41M | -127.00K | -1.07M | -13.69M |
| Sale of Property, Plant & Equipment | 48.00K | 19.00K | 82.00K | 2.03M | ||
| Other Investing Activities | 2.11M | |||||
| Investing Cash Flow | -5.00K | -1.06M | -5.33M | 1.99M | -1.07M | -11.65M |
| Short-Term Debt Issued | 15.00M | 25.19M | ||||
| Long-Term Debt Issued | 416.59M | 807.93M | 875.56M | 3.18B | 2.76B | |
| Total Debt Issued | 242.68M | 431.59M | 807.93M | 900.75M | 3.18B | 2.76B |
| Short-Term Debt Repaid | -25.19M | |||||
| Long-Term Debt Repaid | -576.23M | -829.46M | -1.29B | -3.54B | -1.91B | |
| Total Debt Repaid | -358.35M | -576.23M | -829.46M | -1.31B | -3.54B | -1.91B |
| Net Debt Issued (Repaid) | -115.66M | -144.63M | -21.54M | -411.24M | -362.43M | 851.23M |
| Issuance of Common Stock | 168.00K | 168.00K | 33.00K | 64.00K | 4.90M | 902.00K |
| Repurchase of Common Stock | -265.00K | -203.00K | -77.00K | -78.00K | -285.00K | |
| Other Financing Activities | 50.23M | 33.46M | -236.00K | 87.27M | -646.00K | 225.13M |
| Financing Cash Flow | -65.53M | -111.21M | -21.82M | -323.98M | -358.47M | 1.08B |
| Net Cash Flow | 8.11M | -45.46M | -6.31M | -60.37M | -54.13M | 143.69M |
| Free Cash Flow | 73.59M | 65.73M | 15.43M | 261.50M | 304.33M | -935.61M |
| Free Cash Flow Margin | 18.19% | 11.58% | 1.68% | 19.89% | 7.70% | -45.19% |
| Free Cash Flow Per Share | 18.09 | 21.21 | 5.63 | 99.11 | 186.22 | -979.90 |
| Levered Free Cash Flow | 96.52M | 117.20M | 5.29M | 343.01M | 349.67M | -969.78M |
| Unlevered Free Cash Flow | 101.88M | 124.76M | 15.18M | 350.46M | 375.46M | -960.79M |
| Cash Interest Paid | 11.47M | 16.85M | 24.46M | 24.73M | 59.73M | 21.88M |
| Cash Income Tax Paid | -385.00K | -262.00K | -382.00K | |||
| Change in Working Capital | 107.00M | 102.93M | 68.18M | 359.04M | 371.45M | -933.03M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 10.49M | 44.60M | 77.96M | 279.14M | 175.24M | 2.38B |
| Enterprise Value | 90.93M | 184.91M | 291.87M | 453.18M | 1.13B | 3.01B |
| Last Close Price | 2.17 | 12.10 | 28.50 | 102.50 | 69.07 | 960.00 |
| PE Ratio | 368.24 | |||||
| Forward PE | 12.06 | 12.06 | 12.06 | 12.06 | ||
| PS Ratio | 0.03 | 0.08 | 0.09 | 0.21 | 0.04 | 1.15 |
| PB Ratio | 0.28 | 1.17 | 1.64 | 2.74 | 1.44 | 9.24 |
| P/TBV Ratio | 0.28 | 1.17 | 1.64 | 2.74 | 1.44 | 9.24 |
| P/FCF Ratio | 0.14 | 0.68 | 5.05 | 1.07 | 0.58 | |
| P/OCF Ratio | 0.14 | 0.67 | 3.74 | 1.07 | 0.57 | |
| EV/Sales Ratio | 0.22 | 0.33 | 0.32 | 0.34 | 0.29 | 1.46 |
| EV/EBITDA Ratio | 148.51 | |||||
| EV/EBIT Ratio | 152.44 | |||||
| EV/FCF Ratio | 1.24 | 2.81 | 18.92 | 1.73 | 3.71 | |
| Debt / Equity Ratio | 3.04 | 2.80 | 5.30 | 2.56 | 5.51 | 4.00 |
| Debt / EBITDA Ratio | 47.12 | |||||
| Debt / FCF Ratio | 1.54 | 1.63 | 16.36 | 1.00 | 2.21 | |
| Net Debt / Equity Ratio | 2.16 | 2.10 | 4.39 | 1.82 | 4.72 | 3.35 |
| Net Debt / EBITDA Ratio | -2.66 | -2.48 | -4.61 | -1.78 | -4.55 | 42.46 |
| Net Debt / FCF Ratio | 1.09 | 1.22 | 13.57 | 0.71 | 1.89 | -0.92 |
| Asset Turnover | 1.89 | 2.43 | 2.65 | 2.18 | 3.63 | 2.61 |
| Inventory Turnover | 2.44 | 3.41 | 3.45 | 2.64 | 4.20 | 2.86 |
| Quick Ratio | 0.41 | 0.39 | 0.19 | 0.31 | 0.14 | 0.17 |
| Current Ratio | 1.44 | 1.48 | 1.17 | 1.35 | 1.17 | 1.26 |
| Return on Equity (ROE) | -128.86% | -108.03% | -83.19% | -104.82% | -78.33% | 4.33% |
| Return on Assets (ROA) | -9.15% | -8.92% | -8.31% | -10.83% | -7.31% | 1.55% |
| Return on Invested Capital (ROIC) | -28.87% | -17.78% | -16.93% | -21.24% | -14.02% | 2.97% |
| Return on Capital Employed (ROCE) | -48.50% | -50.60% | -74.20% | -100.70% | -101.00% | 6.90% |
| Earnings Yield | -452.65% | -104.00% | -79.73% | -41.99% | -84.81% | 0.27% |
| FCF Yield | 701.77% | 147.38% | 19.79% | 93.68% | 173.67% | -39.33% |
| Buyback Yield / Dilution | -47.63% | -13.05% | -3.89% | -61.45% | -71.17% | -147.51% |