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Offerpad Solutions (OPAD)
NYSE:OPAD
Earnings Data
Report Date
Apr 30, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.51Last Year’s EPS
-0.65Same Quarter Last Year
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 24, 2025
|% Change Since: -25.00%
|Next Earnings Date:Apr 30, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted several strategic improvements and cost efficiencies, such as exceeding revenue guidance, successful agent partnership programs, and significant growth in the B2B renovate business. However, these positives were tempered by declines in overall revenue and home sales, net losses, and a reduced pace of home acquisitions. The sentiment is balanced with strong operational improvements but ongoing financial challenges.Company Guidance
During Offerpad Solutions Inc.'s fourth quarter 2024 earnings call, guidance was provided on several key metrics and strategic initiatives. The company reported Q4 revenue of $174 million, within the upper guidance range, with 503 homes sold, a 28% decrease in revenue and a 29% decrease in homes sold year over year due to strategic acquisition pacing. Offerpad's adjusted EBITDA loss for Q4 was $11.5 million, improving by $5.3 million sequentially. The full-year revenue was $919 million, a 30% decline from 2023, with a net loss of $62 million, marking a 47% improvement from the previous year. The company highlighted growth in asset-light services, such as the agent partnership program, which improved Customer Acquisition Cost (CAC) by over 45% year over year and accounted for 45% of acquisitions. The B2B renovate business generated $18 million in revenue, up 49% year over year, with average renovation revenue increasing from $11,000 to over $22,000. Offerpad plans to expand its buy box criteria and target 1,000 acquisitions per quarter, focusing on higher-margin homes, and is exploring capital raising options to support this growth. Looking ahead to Q1 2025, they expect revenue between $150 million and $170 million with 450 to 500 homes sold and anticipate improved adjusted EBITDA. As of Q4 2024, unrestricted cash was $43 million, with total liquidity surpassing $85 million, and the company aims to maintain financial stability while scaling operations.Exceeded Revenue Guidance
Offerpad Solutions Inc. exceeded the midpoint of its revenue guidance for Q4 2024, driven by a mix of offerings including cash offer programs and asset-light services.
Agent Partnership Program Success
The agent partnership program drove agent engagement and increased transaction volume, helping to improve customer acquisition cost (CAC) by over 45% year over year.
B2B Renovate Business Growth
The B2B renovate business generated $18 million in revenue for the full year, up 49% year over year, with average revenue per renovation increasing from $11,000 to over $22,000.
Cost Management and Efficiency Improvements
Operating expenses excluding property-related costs improved by $1.1 million sequentially and $2.9 million year-over-year. The company removed $44 million in costs in 2024.
Gross Margin Improvement
Gross margin for the full year was 7.9%, a 47% improvement from the prior year.
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OPAD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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OPAD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 24, 2025 | $2.20 | $2.12 | -3.64% |
| Nov 04, 2024 | $3.27 | $3.16 | -3.36% |
| Aug 05, 2024 | $3.93 | $3.33 | -15.27% |
| May 06, 2024 | $7.26 | $6.74 | -7.16% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Offerpad Solutions (OPAD) report earnings?
Offerpad Solutions (OPAD) is schdueled to report earning on Apr 30, 2025, TBA Not Confirmed.
What is Offerpad Solutions (OPAD) earnings time?
Offerpad Solutions (OPAD) earnings time is at Apr 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is OPAD EPS forecast?
OPAD EPS forecast for the fiscal quarter 2025 (Q1) is -0.51.
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