Offerpad Reports Third Quarter 2024 Results
Offerpad Solutions Inc. Class A (OPAD)
Company Research
Source: Business Wire
Net Loss & Adj EBITDA Improve 32% and 53% Versus Prior Year CHANDLER, Ariz.--(BUSINESS WIRE)--Offerpad Solutions Inc. (“Offerpad”) (NYSE: OPAD), a leading tech-enabled platform for residential real estate, today released financial results for the three months ended September 30, 2024.“During the third quarter, we delivered revenue at the high end of our guidance. We’ve expanded our asset-light services, strengthened partnerships, and optimized our organization,” said Brian Bair, Offerpad’s CEO. “This positions Offerpad well as we return to normalized acquisition levels in our cash offer business with a streamlined cost structure.”Highlights include:Improved net loss and adjusted EBITDA 32% and 53%, respectively, from the prior yearGross profit per home sold of $27.9kContribution profit after interest per home sold of $12.4k, with 30% via asset light servicesTotal operating expenses for the quarter decreased to $26.1M from $43.5M the prior year, a $17.4M or 40% improvementTime to Ca
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News
- US$3.91: That's What Analysts Think Offerpad Solutions Inc. (NYSE:OPAD) Is Worth After Its Latest Results [Yahoo! Finance]Yahoo! Finance
- Offerpad Solutions Inc. (NYSE: OPAD) had its price target lowered by analysts at Keefe, Bruyette & Woods from $3.75 to $3.15. They now have a "market perform" rating on the stock.MarketBeat
- Offerpad Solutions Inc (OPAD) Q3 2024 Earnings Call Highlights: Navigating Market Challenges ... [Yahoo! Finance]Yahoo! Finance
- Offerpad Solutions Inc. (NYSE: OPAD) had its price target lowered by analysts at Jefferies Financial Group Inc. from $3.50 to $3.00. They now have a "hold" rating on the stock.MarketBeat
- Offerpad to Release Third Quarter Results on November 4thBusiness Wire
OPAD
Earnings
- 11/4/24 - Miss
OPAD
Sec Filings
- 11/14/24 - Form SC
- 11/4/24 - Form 10-Q
- 11/4/24 - Form 8-K
- OPAD's page on the SEC website