---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-131934"
form_type: "8-K"
ticker: "OPAD"
cik: "0001825024"
company_name: "Offerpad Solutions Inc."
filed_at: "2024-05-06T23:59:59+00:00"
generated_at: "2026-06-02T22:21:12.216085+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Offerpad Q1 revenue $285M at high end of guidance; net loss improves 71% YoY to $17.5M

## Summary
- Revenue $285.4M (sequentially +19%, YoY -53%); gross profit $22.6M up 210% YoY.
- Net loss ($17.5M) improved 71% from ($59.4M); Adj. EBITDA ($7.1M) vs ($44.8M) YoY.
- Time to Cash 113 days (down from 185); inventory 180+ days at 8.5% (down from 32.3%).
- Renovate revenue over $5M with 398 projects (+78% YoY); asset-light services 43% of transactions.
- Q2 outlook: homes sold 750-875, rev $250M-$300M, Adj. EBITDA approx. breakeven.

## SEC filing metadata
- accession: 0001193125-24-131934
- form_type: 8-K
- ticker: OPAD
- cik: 0001825024
- company_name: Offerpad Solutions Inc.
- filed_at: 2024-05-06T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1825024/000119312524131934/0001193125-24-131934-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1825024/000119312524131934/d786348d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-131934
- JSON: https://secwatch.observer/filing/0001193125-24-131934.json
- Plain text: https://secwatch.observer/filing/0001193125-24-131934.txt

## Key facts
- Earnings Releases
  Offerpad Solutions Inc. reported three months ended March 31, 2024 results: revenue $285.4M, net income ($17.5M), EPS ($0.64).
  - Period: three months ended March 31, 2024
  - Revenue: $285.4M
  - Net income: ($17.5M)
  - EPS: ($0.64)
  - Result: reported results
  source text: about what the future holds.” Q1 2024 Financial Results (quarter over quarter) Q1 2024 Q4 2023 Percentage Change Homes acquired 806 678 19% Homes sold 847 712 19% Revenue $285.4M $240.5M 19% Gross profit $22.6M $16.7M 35% Net loss ($17.5M) ($15.4M) (13%) Adjusted EBITDA ($7.1M) ($7.0M) (1%) Diluted Net Loss per Share ($0.64) ($0.57) (12%) Gross profit
  evidence_url: https://www.sec.gov/Archives/edgar/data/1825024/000119312524131934/0001193125-24-131934-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.