Offerpad Solutions Inc Financials
Offerpad Solutions Inc (OPAD) reported $404.5M in revenue over the twelve months to Jun 30, 2026, down 42.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Inventory and liabilities are shrinking together, generating cash while persistent operating losses keep the business dependent on balance-sheet contraction.
In FY2025, cash conversion diverged from earnings: operating cash flow was$66.8M even as net income was-$46.4M . That cash generation coincided with inventory liquidation, with inventory falling from$276.5M in FY2023 to$93.8M in FY2025, so positive cash flow does not demonstrate that the underlying sales engine became profitable.
The business has become smaller without reaching break-even: revenue fell to
Debt-to-equity declined to 3.0x as total assets contracted to
Financial Health Signals
Offerpad Solutions Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Offerpad Solutions Inc scores -1.18, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($21.3M) relative to total liabilities ($116.6M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Offerpad Solutions Inc passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Offerpad Solutions Inc reported a net loss of $46.4M while generating $66.8M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Offerpad Solutions Inc reported an operating loss of $33.4M against $13.4M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Offerpad Solutions Inc generated $567.8M in revenue in fiscal year 2025. This represents a decrease of 38.2% from the prior year.
Offerpad Solutions Inc's EBITDA was -$32.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 28.7% from the prior year.
Offerpad Solutions Inc reported -$46.4M in net income in fiscal year 2025. This represents an increase of 25.4% from the prior year.
Offerpad Solutions Inc earned -$1.50 per diluted share (EPS) in fiscal year 2025. This represents an increase of 33.9% from the prior year.
Cash & Balance Sheet
Offerpad Solutions Inc generated $65.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 326.1% from the prior year.
Offerpad Solutions Inc held $26.5M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Offerpad Solutions Inc's gross margin was 7.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.5 percentage points from the prior year.
Offerpad Solutions Inc's operating margin was -5.9% in fiscal year 2025, reflecting core business profitability. This is down 0.9 percentage points from the prior year.
Offerpad Solutions Inc's net profit margin was -8.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.4 percentage points from the prior year.
Offerpad Solutions Inc's ROE was -121.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 9.1 percentage points from the prior year.
Capital Allocation
Offerpad Solutions Inc invested $3.4M in research and development in fiscal year 2025. This represents a decrease of 24.7% from the prior year.
Offerpad Solutions Inc invested $1.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 80.0% from the prior year.
Not reported for fiscal year 2025.
OPAD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $77.7M-3.0% | $80.1M-29.8% | $114.1M-14.0% | $132.7M-17.2% | $160.3M-0.2% | $160.7M-7.8% | $174.3M-16.2% | $208.1M |
| Cost of Revenue | $70.5M-5.3% | $74.5M-29.8% | $106.1M-14.0% | $123.3M-15.6% | $146.1M-2.7% | $150.2M-8.2% | $163.7M-14.3% | $190.9M |
| Gross Profit | $7.1M+28.1% | $5.6M-30.6% | $8.0M-14.2% | $9.3M-34.2% | $14.2M+35.0% | $10.5M-0.8% | $10.6M-38.2% | $17.1M |
| R&D Expenses | $954K+7.7% | $886K+45.0% | $611K-22.5% | $788K-20.1% | $986K-3.3% | $1.0M+21.4% | $840K-11.3% | $947K |
| SG&A Expenses | $6.8M+10.7% | $6.1M+1.3% | $6.1M+17.5% | $5.1M-34.0% | $7.8M+8.3% | $7.2M-27.1% | $9.9M+19.6% | $8.3M |
| Operating Income | -$8.2M+8.8% | -$9.0M-23.2% | -$7.3M-8.7% | -$6.7M+13.4% | -$7.8M+32.6% | -$11.5M+15.6% | -$13.7M-53.2% | -$8.9M |
| Interest Expense | $1.4M-14.2% | $1.6M-37.1% | $2.6M-29.5% | $3.6M-0.5% | $3.7M+4.1% | $3.5M-13.8% | $4.1M-20.1% | $5.1M |
| Income Tax | $16K0.0% | $16K+366.7% | -$6K-101.6% | $380K+1166.7% | $30K-18.9% | $37K+159.7% | -$62K-358.3% | $24K |
| Net Income | -$9.3M+8.3% | -$10.1M-14.9% | -$8.8M+24.0% | -$11.6M-6.4% | -$10.9M+27.6% | -$15.1M+13.1% | -$17.3M-28.0% | -$13.5M |
| EPS (Diluted) | -$1.94 | -$0.22-10.0% | -$0.20+45.9% | -$0.37 | -$3.93 | -$0.55+12.7% | -$0.63-28.6% | -$0.49 |
OPAD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $160.3M+7.0% | $149.8M-3.2% | $154.8M-30.7% | $223.5M-16.6% | $268.0M-2.4% | $274.5M-12.3% | $313.1M-7.5% | $338.5M |
| Current Assets | $138.1M+8.7% | $127.1M-3.5% | $131.7M-35.9% | $205.6M-17.6% | $249.6M-2.3% | $255.5M-13.2% | $294.2M-8.9% | $323.0M |
| Cash & Equivalents | $33.1M-18.9% | $40.8M+53.8% | $26.5M-14.3% | $31.0M+36.7% | $22.6M-26.5% | $30.8M-28.3% | $43.0M-11.3% | $48.5M |
| Inventory | $94.2M+26.2% | $74.7M-20.4% | $93.8M-42.2% | $162.4M-23.7% | $212.7M+0.9% | $210.8M-1.6% | $214.2M-16.5% | $256.5M |
| Accounts Receivable | $6.1M-25.4% | $8.2M+3.5% | $7.9M+7.4% | $7.4M-2.1% | $7.5M+19.8% | $6.3M+63.6% | $3.8M-31.2% | $5.6M |
| Total Liabilities | $123.0M+18.3% | $103.9M-10.8% | $116.6M-36.5% | $183.6M-24.6% | $243.5M+1.3% | $240.3M-9.5% | $265.4M-3.1% | $273.8M |
| Current Liabilities | $95.7M+25.2% | $76.4M-13.9% | $88.8M-42.9% | $155.6M-32.2% | $229.6M+1.7% | $225.8M-10.0% | $251.0M-4.8% | $263.5M |
| Total Equity | $37.3M-18.6% | $45.8M+19.9% | $38.2M-4.1% | $39.9M+62.4% | $24.5M-28.3% | $34.2M-28.2% | $47.7M-26.4% | $64.7M |
| Retained Earnings | -$525.9M-1.8% | -$516.6M-2.0% | -$506.4M-1.8% | -$497.6M-2.4% | -$486.0M-2.3% | -$475.1M-3.3% | -$460.0M-3.9% | -$442.7M |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
OPAD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$25.9M-385.8% | $9.0M-82.1% | $50.5M+26.4% | $40.0M+396.6% | -$13.5M-32.4% | -$10.2M-130.6% | $33.2M-16.1% | $39.6M |
| Capital Expenditures | $34K+78.9% | $19K | $0 | $0-100.0% | $85K-91.4% | $994K-76.1% | $4.2M+371.5% | $883K |
| Free Cash Flow | -$25.9M-386.8% | $9.0M-82.1% | $50.5M+26.4% | $40.0M+394.7% | -$13.6M-21.4% | -$11.2M-138.4% | $29.1M-24.9% | $38.7M |
| Investing Cash Flow | -$22K-1000.0% | -$2K | $0-100.0% | $19K+122.4% | -$85K+91.4% | -$994K+75.9% | -$4.1M-368.4% | -$881K |
| Financing Cash Flow | $19.1M+332.3% | $4.4M+107.9% | -$56.0M-69.2% | -$33.1M-816.2% | $4.6M+117.2% | -$26.8M-92.5% | -$13.9M+73.9% | -$53.3M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
OPAD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 9.2%+2.2pp | 6.9%-0.1pp | 7.0%0.0pp | 7.0%-1.8pp | 8.8%+2.3pp | 6.5%+0.5pp | 6.1%-2.2pp | 8.2% |
| Operating Margin | -10.6%+0.7pp | -11.3%-4.9pp | -6.4%-1.3pp | -5.1%-0.2pp | -4.9%+2.3pp | -7.2%+0.7pp | -7.8%-3.5pp | -4.3% |
| Net Margin | -12.0%+0.7pp | -12.7%-4.9pp | -7.7%+1.0pp | -8.8%-1.9pp | -6.8%+2.6pp | -9.4%+0.6pp | -9.9%-3.4pp | -6.5% |
| Return on Equity | -24.9%-2.8pp | -22.1%+1.0pp | -23.1%+6.0pp | -29.1%+15.3pp | -44.4%-0.4pp | -44.0%-7.6pp | -36.4%-15.4pp | -20.9% |
| Return on Assets | -5.8%+1.0pp | -6.8%-1.1pp | -5.7%-0.5pp | -5.2%-1.1pp | -4.1%+1.4pp | -5.5%0.0pp | -5.5%-1.5pp | -4.0% |
| Current Ratio | 1.44-0.2x | 1.66+0.2x | 1.48+0.2x | 1.32+0.2x | 1.090.0x | 1.130.0x | 1.17-0.1x | 1.23 |
| Debt-to-Equity | 3.30+1.0x | 2.27-0.8x | 3.05-1.6x | 4.61-5.3x | 9.92+2.9x | 7.02+1.5x | 5.57+1.3x | 4.23 |
| FCF Margin | -33.3%-44.6pp | 11.3%-33.0pp | 44.3%+14.2pp | 30.1%+38.6pp | -8.5%-1.5pp | -7.0%-23.6pp | 16.7%-1.9pp | 18.6% |
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Where Offerpad Solutions Inc Ranks
Frequently Asked Questions
What is Offerpad Solutions Inc's annual revenue?
Offerpad Solutions Inc (OPAD) reported $567.8M in total revenue for fiscal year 2025. This represents a -38.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Offerpad Solutions Inc's revenue growing?
Offerpad Solutions Inc (OPAD) revenue declined by 38.2% year-over-year, from $918.8M to $567.8M in fiscal year 2025.
Is Offerpad Solutions Inc profitable?
No, Offerpad Solutions Inc (OPAD) reported a net income of -$46.4M in fiscal year 2025, with a net profit margin of -8.2%.
What is Offerpad Solutions Inc's EBITDA?
Offerpad Solutions Inc (OPAD) had EBITDA of -$32.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Offerpad Solutions Inc's gross margin?
Offerpad Solutions Inc (OPAD) had a gross margin of 7.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Offerpad Solutions Inc's operating margin?
Offerpad Solutions Inc (OPAD) had an operating margin of -5.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Offerpad Solutions Inc's net profit margin?
Offerpad Solutions Inc (OPAD) had a net profit margin of -8.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Offerpad Solutions Inc's return on equity (ROE)?
Offerpad Solutions Inc (OPAD) has a return on equity of -121.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Offerpad Solutions Inc's free cash flow?
Offerpad Solutions Inc (OPAD) generated $65.7M in free cash flow during fiscal year 2025. This represents a 326.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Offerpad Solutions Inc's operating cash flow?
Offerpad Solutions Inc (OPAD) generated $66.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Offerpad Solutions Inc's total assets?
Offerpad Solutions Inc (OPAD) had $154.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Offerpad Solutions Inc's capital expenditures?
Offerpad Solutions Inc (OPAD) invested $1.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Offerpad Solutions Inc spend on research and development?
Offerpad Solutions Inc (OPAD) invested $3.4M in research and development during fiscal year 2025.
What is Offerpad Solutions Inc's current ratio?
Offerpad Solutions Inc (OPAD) had a current ratio of 1.48 as of fiscal year 2025, which is considered adequate.
What is Offerpad Solutions Inc's debt-to-equity ratio?
Offerpad Solutions Inc (OPAD) had a debt-to-equity ratio of 3.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Offerpad Solutions Inc's return on assets (ROA)?
Offerpad Solutions Inc (OPAD) had a return on assets of -30.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Offerpad Solutions Inc's Altman Z-Score?
Offerpad Solutions Inc (OPAD) has an Altman Z-Score of -1.18, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Offerpad Solutions Inc's Piotroski F-Score?
Offerpad Solutions Inc (OPAD) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Offerpad Solutions Inc's earnings high quality?
Offerpad Solutions Inc (OPAD) reported a net loss of $46.4M while generating $66.8M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Offerpad Solutions Inc cover its interest payments?
Offerpad Solutions Inc (OPAD) reported an operating loss of $33.4M against $13.4M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.