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Offerpad Solutions (OPAD) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 2, 2026 · Offerpad Solutions (OPAD) Q3 2026 earnings results →
Q3 2026 Revenue down 41% year over year to $78.1M · 15¢ of every $1 of revenue lost · operating margin -12.0%
Offerpad Solutions made $78.1M in Q3 2026 (-41% Y/Y): Cash Offer $72.2M, Business to Business Renovate $5.2M, All Other Segments $677K. Operating margin -12.0%, net loss $11.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 2, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $78.1M in Q3 2026, down 41% year over year and up 1% from the previous quarter. Cash Offer was the largest line at 92% of revenue. Cash Offer lost $50.6M year over year (down 41%), 93% of the total change.
Gross margin was 8.3%, up 1.3 points from Q3 2025. Operating costs exceeded revenue by $9.4M, an operating margin of -12.0%. Operating expenses fell 1% while revenue fell 41%. The fastest-growing cost line was General & admin (+28%). The quarter ended with a net loss of $11.5M, wider than the previous quarter's $9.3M loss.
Operating cash flow was −$142.6M. Non-cash charges added back $300K of depreciation and $1.0M of share-based compensation. Working capital and other items used $132.4M. Capital expenditures of $13K exceeded it, leaving free cash flow of −$142.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 2, 2026 | $78.1M | -41% | -12.0% | −$11.5M | −$143M |
| Q2 2026 | 10-Q | Aug 3, 2026 | $77.7M | -52% | -10.6% | −$9.3M | −$25.9M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $80.1M | -50% | -11.3% | −$10.1M | $9.0M |
| Q4 2025 | 10-K | Feb 24, 2026 | $114M | -34% | -6.4% | −$8.8M | $50.5M |
| Q3 2025 | 10-Q | Nov 3, 2025 | $133M | -36% | -5.1% | −$11.6M | $40.0M |
| Q2 2025 | 10-Q | Aug 4, 2025 | $160M | -36% | -4.9% | −$10.9M | −$13.5M |
| Q1 2025 | 10-Q | May 5, 2025 | $161M | -44% | -7.2% | −$15.1M | −$10.2M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Offerpad Solutions
We are a real estate solutions company focused on giving homeowners more control, flexibility, and choice when buying and selling a home. Founded in 2015, we combine proprietary technology with local real estate expertise to simplify the home sale process and reduce friction across the transaction lifecycle, helping customers move forward with speed, transparency, and confidence. We provide cash offers, brokerage services, access to additional cash buyers through marketplace-enabled capabilities, and renovation services that support both internal transactions and third-party partners. We provide these real estate services through the following solutions:
In its own words, from its 10-K, filed Feb 24, 2026.
Offerpad Solutions against its Real Estate Agents & Managers (For Others) peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -41% against the peers' median +12%. Operating margin: -12.0% against the peers' median 0.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| OPAD Offerpad Solutions | Q3 2026 | $78.1M | -41% | -12.0% |
| JLL Jones Lang Lasalle | Q3 2026 | $7.3B | +12% | 5.4% |
| COMP Compass | Q3 2026 | $3.9B | +111% | 2.2% |
| AGNT Agnt | Q3 2026 | $1.4B | +6% | 0.2% |
| VAC Marriott Vacations Worldwide | Q3 2026 | $1.4B | +8% | 11.2% |
| OPEN Opendoor Technologies | Q3 2026 | $1.0B | +12% | -18.3% |
| NMRK Newmark Group | Q3 2026 | $973M | +13% | 8.8% |
| REAX Real Remax Group | Q3 2026 | $728M | +28% | -9.9% |
| DOUG Douglas Elliman | Q2 2026 | $283M | +4% | -1.2% |
Source: Offerpad Solutions 10-Q on SEC EDGAR · CIK 1825024 · Real Estate Agents & Managers (For Others)
Guidance and outlook
13F: who owns OPAD and who is buying
More on OPAD
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results