Capital Raise and Liquidity
Offerpad finalized a capital raise of $21 million in July, bringing total liquidity to over $75 million. This strengthens the balance sheet and supports growth initiatives.
Revenue and Home Sales
In Q2, Offerpad delivered $160 million in revenue and sold 452 homes, reflecting disciplined execution across their platform.
Record Performance in Renovate
Achieved another record quarter for the Renovate business, delivering $6.4 million in revenue, marking the strongest performance since launching the product.
Strategic Cost Management
Operating expenses, excluding property-related costs, totaled $17 million, down 30% compared to the same quarter last year. Adjusted EBITDA loss improved 39% to $4.8 million.
Asset-Light Services Expansion
Continued investment in Direct+, HomePro, and Renovate, focusing on expanding asset-light services that drive predictable contribution profit and long-term growth.