Filing Flows › Offerpad Solutions (OPAD) › Q3 2025
Offerpad Solutions (OPAD) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 3, 2025
Offerpad Solutions (OPAD) reported revenue of $133M for the third quarter 2025 (Q3 2025), -36% from a year earlier and -17% from the quarter before. Operating margin was -5.1%, net loss $11.6M (8.7% of revenue).
Offerpad Solutions, Q3 2025: revenue $133M (-36% year over year), operating margin -5.1%, net loss $11.6M, operating cash flow $40.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $133M | -17% | -36% |
| Operating profit | −$6.7M | — | — |
| Net earnings | −$11.6M | — | — |
| Operating cash flow | $40.0M | — | +0.9% |
What changed
Revenue was $132.7M in Q3 2025, down 36% year over year and down 17% from the previous quarter. Cash Offer was the largest line at 93% of revenue. Cash Offer lost $80.1M year over year (down 39%), 106% of the total change.
Gross margin was 7.0%, down 1.2 points from a year earlier. Operating costs exceeded revenue by $6.7M, an operating margin of -5.1%. Operating expenses fell 38% while revenue fell 36%. The quarter ended with a net loss of $11.6M, wider than the previous quarter's $10.9M loss.
Operating cash flow was $40.0M (up 1% year over year). Non-cash charges added back $200K of depreciation and $815K of share-based compensation. Working capital and other items added $50.5M.
Questions
What was Offerpad Solutions' revenue in the third quarter 2025?
Offerpad Solutions (OPAD) reported revenue of $133M for the third quarter 2025 (Q3 2025), -36% from a year earlier and -17% from the quarter before.
Was Offerpad Solutions profitable in the third quarter 2025?
Operating loss was $6.7M (-5.1% of revenue) and net loss $11.6M.
Source: Offerpad Solutions 10-Q on SEC EDGAR.