Filing Flows › Offerpad Solutions (OPAD) › Q2 2025
Offerpad Solutions (OPAD) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 4, 2025
Offerpad Solutions (OPAD) reported revenue of $160M for the second quarter 2025 (Q2 2025), -36% from a year earlier and -0.2% from the quarter before. Operating margin was -4.9%, net loss $10.9M (6.8% of revenue).
Offerpad Solutions, Q2 2025: revenue $160M (-36% year over year), operating margin -4.9%, net loss $10.9M, operating cash flow −$13.5M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $160M | -0.2% | -36% |
| Operating profit | −$7.8M | — | — |
| Net earnings | −$10.9M | — | — |
| Operating cash flow | −$13.5M | — | — |
What changed
Revenue was $160.3M in Q2 2025, down 36% year over year and roughly flat from the previous quarter. Cash Offer was the largest line at 95% of revenue. Cash Offer lost $92.8M year over year (down 38%), 102% of the total change.
Gross margin was 8.9%, up 0.1 points from a year earlier. Operating costs exceeded revenue by $7.8M, an operating margin of -4.9%. Operating expenses fell 31% while revenue fell 36%. The quarter ended with a net loss of $10.9M, narrower than the previous quarter's $15.1M loss.
Operating cash flow was −$13.5M. Non-cash charges added back $300K of depreciation and $1.3M of share-based compensation. Working capital and other items used $4.1M. Capital expenditures of $85K exceeded it, leaving free cash flow of −$13.6M.
Questions
What was Offerpad Solutions' revenue in the second quarter 2025?
Offerpad Solutions (OPAD) reported revenue of $160M for the second quarter 2025 (Q2 2025), -36% from a year earlier and -0.2% from the quarter before.
Was Offerpad Solutions profitable in the second quarter 2025?
Operating loss was $7.8M (-4.9% of revenue) and net loss $10.9M.
Source: Offerpad Solutions 10-Q on SEC EDGAR.