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OFFERPAD SOLUTIONS WTS (OPADW) Financials

OPADW
Trailing 12 months to June 30, 2026
Revenue $404.5M -42.5% YoY
Net Income -$39.8M +29.9% YoY
EPS (Diluted) -$1.50 FY2025 annual
Free Cash Flow $73.6M +70.9% YoY
Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 3, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the OPADW SEC filings page.

OFFERPAD SOLUTIONS WTS (OPADW) 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).

Rhea AI OPADW FY2025

The business is shrinking sharply, remains loss-making, and is converting inventory reduction into cash rather than operating profit.

Between FY2023 and FY2025, revenue fell from $1.3B to $567.8M while gross margin remained low and broadly stable, pointing to a smaller business with little gross-profit cushion rather than a margin-led turnaround. Operating losses narrowed as a share of sales from -7.9% to -5.9%, but remained negative, so the improvement reflects cost reduction alongside contraction—not profitable scale.

FY2025 paired a net loss of $46.4M with operating cash flow of $66.8M, an unusual gap that requires looking beyond earnings. Inventory fell from $276.5M in FY2023 to $93.8M in FY2025, making the positive cash result look primarily like working-capital release rather than profits funding the business.

Total assets fell from $313.1M to $154.8M between FY2024 and FY2025, showing the balance sheet is being compressed alongside operations. Liabilities also declined materially while the current ratio improved to 1.5x; however, debt-to-equity remained 3.0x, so liquidity improved without eliminating balance-sheet leverage.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

OFFERPAD SOLUTIONS WTS 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.

Piotroski F-Score Partial
4/8

OFFERPAD SOLUTIONS WTS 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.

Earnings Quality Mixed
N/A

OFFERPAD SOLUTIONS WTS 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.

Interest Coverage At Risk
N/A

OFFERPAD SOLUTIONS WTS 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

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Earnings & Revenue

Revenue
$77.7M
YoY-51.6%
QoQ-3.0%
5Y CAGR-27.2%

OFFERPAD SOLUTIONS WTS generated $77.7M in revenue in Q2 2026. This represents a decrease of 51.6% from the same quarter a year earlier. Against the prior quarter it is down 3.0%.

EBITDA
-$7.9M
YoY-6.1%
QoQ+9.2%

OFFERPAD SOLUTIONS WTS's EBITDA was -$7.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 6.1% from the same quarter a year earlier. Against the prior quarter it is up 9.2%.

Net Income
-$9.3M
YoY+14.8%
QoQ+8.3%

OFFERPAD SOLUTIONS WTS reported -$9.3M in net income in Q2 2026. This represents an increase of 14.8% from the same quarter a year earlier. Against the prior quarter it is up 8.3%.

EPS (Diluted)
-$1.94

OFFERPAD SOLUTIONS WTS earned -$1.94 per diluted share (EPS) in Q2 2026.

Cash & Balance Sheet

Free Cash Flow
-$25.9M
YoY-91.0%
QoQ-386.8%

OFFERPAD SOLUTIONS WTS recorded an outflow of $25.9M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 91.0% from the same quarter a year earlier. Against the prior quarter it is down 386.8%.

Cash & Debt
$33.1M
YoY+46.2%
QoQ-18.9%
5Y CAGR-5.8%

OFFERPAD SOLUTIONS WTS held $33.1M in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding
5M

OFFERPAD SOLUTIONS WTS had 5M shares outstanding in Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin
9.2%
YoY+0.3pp
QoQ+2.2pp
5Y change-4.3pp

OFFERPAD SOLUTIONS WTS's gross margin was 9.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 0.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.2 percentage points.

Operating Margin
-10.6%
YoY-5.8pp
QoQ+0.7pp
5Y change-13.7pp

OFFERPAD SOLUTIONS WTS's operating margin was -10.6% in Q2 2026, reflecting core business profitability. This is down 5.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.7 percentage points.

Net Margin
-12.0%
YoY-5.2pp
QoQ+0.7pp
5Y change-14.4pp

OFFERPAD SOLUTIONS WTS's net profit margin was -12.0% in Q2 2026, showing the share of revenue converted to profit. This is down 5.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.7 percentage points.

Return on Equity
-24.9%
YoY+19.5pp
QoQ-2.8pp

OFFERPAD SOLUTIONS WTS's ROE was -24.9% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 19.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.8 percentage points.

Capital Allocation

R&D Spending
$954K
YoY-3.2%
QoQ+7.7%

OFFERPAD SOLUTIONS WTS invested $954K in research and development in Q2 2026. This represents a decrease of 3.2% from the same quarter a year earlier. Against the prior quarter it is up 7.7%.

Capital Expenditures
$34K
YoY-60.0%
QoQ+78.9%
5Y CAGR-63.1%

OFFERPAD SOLUTIONS WTS invested $34K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 60.0% from the same quarter a year earlier. Against the prior quarter it is up 78.9%.

Share Buybacks

Not reported for Q2 2026.

OPADW Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

OPADW quarterly income statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Revenue$77.7M-51.6%$80.1M-50.2%$114.1M-34.5%$132.7M-36.2%$160.3M-36.2%$160.7M-43.7%$174.3M-27.5%$208.1M-11.2%
Cost of Revenue$70.5M-51.7%$74.5M-50.4%$106.1M-35.2%$123.3M-35.4%$146.1M-36.3%$150.2M-42.8%$163.7M-26.9%$190.9M-9.2%
Gross Profit$7.1M-49.8%$5.6M-47.1%$8.0M-24.3%$9.3M-45.5%$14.2M-35.1%$10.5M-53.5%$10.6M-36.6%$17.1M-28.5%
R&D Expenses$954K-3.2%$886K-13.1%$611K-27.3%$788K-16.8%$986K+2.3%$1.0M-42.5%$840K-32.0%$947K-56.1%
SG&A Expenses$6.8M-13.0%$6.1M-14.9%$6.1M-38.7%$5.1M-37.6%$7.8M-26.0%$7.2M-39.8%$9.9M+12.5%$8.3M-41.6%
Operating Income-$8.2M-5.9%-$9.0M+21.7%-$7.3M+46.4%-$6.7M+24.5%-$7.8M+21.1%-$11.5M+15.1%-$13.7M-21.5%-$8.9M+54.3%
EBITDA-$7.9M-6.1%-$8.7M+22.8%-$7.1M+47.8%-$6.5M+25.0%-$7.5M+23.4%-$11.3M+15.6%-$13.5M-21.6%-$8.7M+54.9%
Interest Expense$1.4M-62.2%$1.6M-54.1%$2.6M-37.1%$3.6M-28.7%$3.7M-20.0%$3.5M-28.2%$4.1M-20.8%$5.1M+16.1%
Income Tax$16K-46.7%$16K-56.8%-$6K+90.3%$380K+1483.3%$30K+155.6%$37K-69.9%-$62K-675.0%$24K+300.0%
Net Income-$9.3M+14.8%-$10.1M+32.7%-$8.8M+49.1%-$11.6M+14.3%-$10.9M+20.9%-$15.1M+14.0%-$17.3M-12.2%-$13.5M+32.3%
EPS (Basic)-$1.94+50.6%-$0.22+60.0%-$0.20+68.3%-$0.37+24.5%-$3.93-686.0%-$0.55+14.1%-$0.63-16.7%-$0.49+32.9%
EPS (Diluted)-$1.94-$0.22-$0.20-$0.37+24.5%-$3.93-$0.55+14.1%-$0.63-16.7%-$0.49+32.9%
Diluted Shares (Avg)5M46MN/A31M+14.0%3M28M+0.8%N/A27M+0.6%

OPADW Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

OPADW quarterly balance sheet
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Total Assets$160.3M-40.2%$149.8M-45.4%$154.8M-50.6%$223.5M-34.0%$268.0M-34.1%$274.5M-25.8%$313.1M-17.6%$338.5M-19.8%
Current Assets$138.1M-44.7%$127.1M-50.2%$131.7M-55.2%$205.6M-36.4%$249.6M-36.2%$255.5M-27.7%$294.2M-20.8%$323.0M-21.8%
Cash & Equivalents$33.1M+46.2%$40.8M+32.4%$26.5M-38.3%$31.0M-36.2%$22.6M-60.2%$30.8M-55.0%$43.0M-43.4%$48.5M-54.2%
Short-Term Investments$0$0$0$0$0$0$0$0
Inventory$94.2M-55.7%$74.7M-64.6%$93.8M-56.2%$162.4M-36.7%$212.7M-30.9%$210.8M-20.8%$214.2M-22.5%$256.5M-11.4%
Accounts Receivable$6.1M-18.7%$8.2M+30.6%$7.9M+106.3%$7.4M+32.2%$7.5M+11.8%$6.3M+44.8%$3.8M-61.3%$5.6M+44.3%
Long-Term Investments$0$0$0$0$0$0$0$0
Total Liabilities$123.0M-49.5%$103.9M-56.7%$116.6M-56.1%$183.6M-32.9%$243.5M-26.0%$240.3M-14.7%$265.4M-4.5%$273.8M-10.8%
Current Liabilities$95.7M-58.3%$76.4M-66.2%$88.8M-64.6%$155.6M-41.0%$229.6M-28.2%$225.8M-17.0%$251.0M-9.1%$263.5M-13.5%
Non-Current Liabilities$27.3M+97.2%$27.5M+90.5%$27.8M+92.2%$28.0M+172.7%$13.8M+48.1%$14.4M+52.3%$14.4M+664.2%$10.3M+340.8%
Total Equity$37.3M+52.1%$45.8M+34.0%$38.2M-19.8%$39.9M-38.4%$24.5M-68.4%$34.2M-61.2%$47.7M-53.2%$64.7M-43.8%
Retained Earnings-$525.9M-8.2%-$516.6M-8.7%-$506.4M-10.1%-$497.6M-12.4%-$486.0M-13.2%-$475.1M-14.4%-$460.0M-15.6%-$442.7M-15.8%

Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.

OPADW Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

OPADW quarterly cash flow statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Cash Flow-$25.9M-91.9%$9.0M+188.9%$50.5M+51.9%$40.0M+0.9%-$13.5M+75.2%-$10.2M-526.5%$33.2M+316.9%$39.6M+141.9%
Depreciation & Amortization$300K0.0%$287K+39.3%$267K+81.6%$200K0.0%$300K+200.0%$206K+24.1%$147K-14.5%$200K0.0%
Stock-Based CompensationN/A$942K-47.1%N/AN/AN/A$1.8M-53.9%N/AN/A
Capital Expenditures$34K-60.0%$19K-98.1%$0-100.0%$0-100.0%$85K+844.4%$994K+181.6%$4.2M+11151.4%$883K
Free Cash Flow-$25.9M-91.0%$9.0M+180.8%$50.5M+73.7%$40.0M+3.2%-$13.6M+75.1%-$11.2M-649.4%$29.1M+289.3%$38.7M+140.9%
Investing Cash Flow-$22K+74.1%-$2K+99.8%$0+100.0%$19K+102.2%-$85K-1800.0%-$994K-207.7%-$4.1M-348.2%-$881K-138.6%
Financing Cash Flow$19.1M+313.6%$4.4M+116.5%-$56.0M-302.4%-$33.1M+37.9%$4.6M-90.5%-$26.8M-672.9%-$13.9M+29.8%-$53.3M-163.9%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

OPADW Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

OPADW quarterly financial ratios
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Gross Margin9.2%+0.3pp6.9%+0.4pp7.0%+0.9pp7.0%-1.2pp8.8%+0.1pp6.5%-1.4pp6.1%-0.9pp8.2%-2.0pp
Operating Margin-10.6%-5.8pp-11.3%-4.1pp-6.4%+1.4pp-5.1%-0.8pp-4.9%-0.9pp-7.2%-2.4pp-7.8%-3.2pp-4.3%+4.0pp
Net Margin-12.0%-5.2pp-12.7%-3.3pp-7.7%+2.2pp-8.8%-2.2pp-6.8%-1.3pp-9.4%-3.2pp-9.9%-3.5pp-6.5%+2.0pp
Return on Equity-24.9%+19.5pp-22.1%+21.9pp-23.1%+13.3pp-29.1%-8.2pp-44.4%-26.7pp-44.0%-24.1pp-36.4%-21.2pp-20.9%-3.6pp
Return on Assets-5.8%-1.7pp-6.8%-1.3pp-5.7%-0.2pp-5.2%-1.2pp-4.1%-0.7pp-5.5%-0.8pp-5.5%-1.5pp-4.0%+0.7pp
Current Ratio1.44+0.4x1.66+0.5x1.48+0.3x1.32+0.1x1.09-0.1x1.13-0.2x1.17-0.2x1.23-0.1x
Debt-to-Equity3.30-6.6x2.27-4.8x3.05-2.5x4.61+0.4x9.92+5.7x7.02+3.8x5.57+2.8x4.23+1.6x
Asset Turnover0.48-0.1x0.53-0.1x0.74+0.2x0.590.0x0.600.0x0.59-0.2x0.56-0.1x0.61+0.1x
FCF Margin-33.3%-24.9pp11.3%+18.2pp44.3%+27.6pp30.1%+11.5pp-8.5%+13.2pp-7.0%-7.7pp16.7%+23.1pp18.6%+59.0pp

Frequently Asked Questions

What is OFFERPAD SOLUTIONS WTS's annual revenue?

OFFERPAD SOLUTIONS WTS (OPADW) 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 WTS's revenue growing?

OFFERPAD SOLUTIONS WTS (OPADW) revenue declined by 38.2% year-over-year, from $918.8M to $567.8M in fiscal year 2025.

Is OFFERPAD SOLUTIONS WTS profitable?

No, OFFERPAD SOLUTIONS WTS (OPADW) reported a net income of -$46.4M in fiscal year 2025, with a net profit margin of -8.2%.

OFFERPAD SOLUTIONS WTS (OPADW) reported diluted earnings per share of -$1.50 for fiscal year 2025. This represents a 33.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

OFFERPAD SOLUTIONS WTS (OPADW) had EBITDA of -$32.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

OFFERPAD SOLUTIONS WTS (OPADW) had a gross margin of 7.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

OFFERPAD SOLUTIONS WTS (OPADW) had an operating margin of -5.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

OFFERPAD SOLUTIONS WTS (OPADW) had a net profit margin of -8.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

OFFERPAD SOLUTIONS WTS (OPADW) has a return on equity of -121.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

OFFERPAD SOLUTIONS WTS (OPADW) 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.

OFFERPAD SOLUTIONS WTS (OPADW) generated $66.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

OFFERPAD SOLUTIONS WTS (OPADW) had $154.8M in total assets as of fiscal year 2025, including both current and long-term assets.

OFFERPAD SOLUTIONS WTS (OPADW) invested $1.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

OFFERPAD SOLUTIONS WTS (OPADW) invested $3.4M in research and development during fiscal year 2025.

OFFERPAD SOLUTIONS WTS (OPADW) had 47M shares outstanding as of fiscal year 2025.

OFFERPAD SOLUTIONS WTS (OPADW) had a current ratio of 1.48 as of fiscal year 2025, which is considered adequate.

OFFERPAD SOLUTIONS WTS (OPADW) 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.

OFFERPAD SOLUTIONS WTS (OPADW) had a return on assets of -30.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

OFFERPAD SOLUTIONS WTS (OPADW) 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.

OFFERPAD SOLUTIONS WTS (OPADW) 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.

OFFERPAD SOLUTIONS WTS (OPADW) 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.

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