Offerpad reports Q4 2023 revenue $240.5M, net loss $15.4M; guides Q1 2024 revenue $245M-$285M

Offerpad Solutions Inc.

2023-FY EPS reported -$4.44 revenue$1,314,412,000

Q4 homes sold 712, revenue $240.5M, net loss $15.4M ($0.57 diluted loss per share); Adjusted EBITDA loss $7.0M.
Full year 2023 revenue $1.3B, net loss $117.2M ($4.44 diluted loss per share); Adjusted EBITDA loss $82.4M.
Asset-light transactions accounted for 43% of unit transactions in 2023 (up from 24% in 2022); time to cash improved to 97 days from 142 days.
Q1 2024 guidance: homes sold 750–850, revenue $245M–$285M, Adjusted EBITDA loss ($10M)–($2.5M).
Reiterates expectation to achieve sustainable Adjusted EBITDA profitability in 2024.

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 full year December 31, 2023 results: revenue $1.3 billion.

Period: full year December 31, 2023
Revenue: $1.3 billion
Result: reported results

Exact text from the filing

X-99.1 Exhibit 99.1 Offerpad Reports Fourth Quarter and Full Year 2023 Results Q4 2023 revenue of $240.5 million up sequentially and in-line with guidance Full year 2023 revenue of $1.3 billion Reiterates expectation to achieve sustainable Adjusted EBITDA profitability in 2024 CHANDLER, Ariz.—(BUSINESS WIRE)— Offerpad Solutions Inc.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Offerpad Solutions Inc. reported Q4 2023 results: revenue $240.5 million.

Period: Q4 2023
Revenue: $240.5 million
Result: reported results

Exact text from the filing

X-99.1 Exhibit 99.1 Offerpad Reports Fourth Quarter and Full Year 2023 Results Q4 2023 revenue of $240.5 million up sequentially and in-line with guidance Full year 2023 revenue of $1.3 billion Reiterates expectation to achieve sustainable Adjusted EBITDA profitability in 2024 CHANDLER, Ariz.—(BUSINESS WIRE)— Offerpad Solutions Inc.

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Source: SEC EDGAR

accession 0001193125-24-046212

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