Offerpad Q4 revenue $677M, net loss $121M; raises $90M equity; Q1 outlook weak

Offerpad Solutions Inc.

2022-FY EPS reported -$0.61 revenue$3,952,314,000

Q4 revenue $677.2M (-22% YoY); net loss $121.1M vs prior-year profit $12.8M.
Adjusted EBITDA loss $103.7M; includes $44.1M inventory impairment charge.
Full-year 2022 revenue $4.0B (+91%); net loss $148.6M; homes sold 10,635 (+67%).
Raised $90M in new equity capital from new and existing shareholders in Jan 2023.
Q1 2023 guidance: revenue $480M-$540M, adjusted EBITDA loss $35M-$55M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Offerpad Solutions Inc. reported financial results for the quarter and fiscal year ended December 31, 2022.

Period: the quarter and fiscal year ended December 31, 2022
Result: reported results

Exact text from the filing

On February 22, 2023, Offerpad Solutions Inc. issued a press release announcing its financial results for the quarter and fiscal year ended December 31, 2022 and a Shareholder Letter.

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Offerpad Solutions Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-044822

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