Filing Flows › Offerpad Solutions (OPAD) › Q1 2025
Offerpad Solutions (OPAD) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 5, 2025
Offerpad Solutions (OPAD) reported revenue of $161M for the first quarter 2025 (Q1 2025), -44% from a year earlier and -8% from the quarter before. Operating margin was -7.2%, net loss $15.1M (9.4% of revenue).
Offerpad Solutions, Q1 2025: revenue $161M (-44% year over year), operating margin -7.2%, net loss $15.1M, operating cash flow −$10.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $161M | -8% | -44% |
| Operating profit | −$11.5M | — | — |
| Net earnings | −$15.1M | — | — |
| Operating cash flow | −$10.2M | — | — |
What changed
Revenue was $160.7M in Q1 2025, down 44% year over year and down 8% from the previous quarter. Cash Offer was the largest line at 96% of revenue. Cash Offer lost $124.0M year over year (down 45%), 99% of the total change.
Gross margin was 6.5%, down 1.4 points from a year earlier. Operating costs exceeded revenue by $11.5M, an operating margin of -7.2%. Operating expenses fell 39% while revenue fell 44%. The quarter ended with a net loss of $15.1M, narrower than the previous quarter's $17.3M loss.
Operating cash flow was −$10.2M. Non-cash charges added back $206K of depreciation and $1.8M of share-based compensation. Working capital and other items added $2.9M. Capital expenditures of $1.0M exceeded it, leaving free cash flow of −$11.2M.
Questions
What was Offerpad Solutions' revenue in the first quarter 2025?
Offerpad Solutions (OPAD) reported revenue of $161M for the first quarter 2025 (Q1 2025), -44% from a year earlier and -8% from the quarter before.
Was Offerpad Solutions profitable in the first quarter 2025?
Operating loss was $11.5M (-7.2% of revenue) and net loss $15.1M.
Source: Offerpad Solutions 10-Q on SEC EDGAR.