OPAD
Offerpad Solutions Inc.
Last earnings +0.4% on 2026-04-30
$5.29
▲ +14.50%$5.29▲ +457.43%
over 1Y
L $0.58H $6.23
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+14.5%
1W+20.8%
1M—
3M—
YTD—
1Y—
Avoid
Conviction
Horizon
Long (>12mo)
Street · 9 analysts
Buy
A shrinking, unprofitable iBuyer whose 'improving' cash flow is just inventory liquidation — cheap P/S is a value trap.
Revenue $568M · FY2025
Offerpad is a business in secular contraction, not a turnaround yet. Revenue has collapsed from $3.95B (FY2022) to $568M (FY2025) — down 38.2% year-over-year and roughly 86% from peak — as management deliberately throttled home acquisitions and sold down aged inventory. The 10-K is candid that this is defensive: they 'maintained our focus on selling through our aged real estate inventory,' which 'had a negative impact on our average real estate inventory holding period and gross profit margin,' and they have 'decelerated our market expansion plans.' The much-touted $66.8M operating cash flow (+220.7%) is therefore a red flag, not a green one — it is cash released by liquidating a shrinking inventory book, not durable earnings. That is confirmed by total assets halving to $155M and current assets falling 55.2%.
The economics remain broken. Gross margin is just 7.4%, operating margin -5.9%, net margin -8.2%, and the company has lost money every year since 2021 (FY2025 net loss -$46.4M). Yes, the loss has narrowed for three straight years, but on a revenue base that is evaporating — you cannot shrink your way to sustainable profitability in a razor-thin-margin, capital-intensive home-flipping model. Return on equity is -121.4% and the accumulated deficit sits at -$506M.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $2.07B | $3.95B | $1.31B | $919M | $568M |
| Gross profit | $208M | $182M | $70.2M | $72.2M | $42.0M |
| Operating income | $19.8M | -$127M | -$104M | -$46.0M | -$33.4M |
| Net income | $6.46M | -$149M | -$117M | -$62.2M | -$46.4M |
| Diluted EPS | $0.68 | -$9.09 | -$4.44 | -$2.27 | -$1.50 |
| Net margin | 0.3% | -3.8% | -8.9% | -6.8% | -8.2% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value-$1.51M
EV / EBITDA—
EV / Sales-0.0
EV / FCF-0.0
P / FCF0.4
PEG (trailing)—
Earnings yield-185.3%
FCF yield262.6%
Quality & risk
ROIC (est.)-69.0%
Free cash flow$65.7M
Total debt—
Net cash$26.5M
Altman Z-Score-1.16 distress
Piotroski F-Score4/8
Capital returns
Buyback yield42.5%
Dividend yield (est.)—
Shareholder yield42.5%
Shares Δ YoY+72.4%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Charter / bylaws change2026-06-09
Charter amendment approved; annual-meeting vote results reported
- 8-K Reg FD disclosure2026-06-04
Reg FD disclosure (investor/business update); no financial change
- 8-K Other event2026-04-30
Q1'26: intentional slowdown in home buys; revenue keeps declining
- 8-K Earnings results2026-04-30
Q1'26: intentional slowdown in home buys; revenue keeps declining
- 10-Q Quarterly report2026-04-30
Q1'26: intentional slowdown in home buys; revenue keeps declining
- S-3/A Shelf registration (potential raise)2026-04-27
- DEF 14A Proxy statement2026-04-22
- 8-K Delisting notice2026-03-06
NYSE listing-standard noncompliance notice received
- S-3 Shelf registration (potential raise)2026-02-25
Recent filings
all on EDGAR ↗4Period ending 2026-06-302026-07-02open ↗4Period ending 2026-06-302026-07-02open ↗SCHEDULE 13G/AFiling2026-07-01open ↗4Period ending 2026-06-122026-06-16open ↗8-KPeriod ending 2026-06-032026-06-09open ↗4Period ending 2026-06-042026-06-08open ↗4Period ending 2026-06-032026-06-05open ↗4Period ending 2026-06-032026-06-05open ↗4Period ending 2026-06-042026-06-05open ↗4Period ending 2026-06-032026-06-05open ↗4Period ending 2026-06-032026-06-05open ↗4Period ending 2026-06-032026-06-05open ↗
Frequently asked
- Is Offerpad Solutions Inc. (OPAD) a buy?
- OPAD currently carries a Avoid rating with 4/5 conviction, derived from its latest SEC filings. A shrinking, unprofitable iBuyer whose 'improving' cash flow is just inventory liquidation — cheap P/S is a value trap.
- What is Offerpad Solutions Inc.'s quality score?
- OPAD scores 58.146324557414054/100 (grade C) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001825024, latest 10-Q filed 2026-04-30) · EODHD · Proprietary analysis · as of 7/4/2026, 4:34:28 AM.
Research and education only — not financial advice. EDGAR is not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities EDGAR rates; see Disclosures. Past performance does not guarantee future results. Do your own research.