UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) Offerpad Solutions Inc. (Exact Name of Registrant as Specified in its Charter) | Delaware | 85-2800538 | | --- | --- | | (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | | 2150 E. Germann Road, Suite 1, Chandler, Arizona | 85286 | | (Address of principal executive offices) | (Zip Code) | | Registrant's telephone number, including area code: (844) 388-4539 | | Secu ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-39641 Offerpad Solutions Inc. (Exact Name of Registrant as Specified in its Charter) | Delaware | 85-2800538 | | -- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number 001-39641 Offerpad Solutions Inc. (Exact name of Registrant as specified in its Charter) | Delaware | 85-2800538 | ...

Offerpad Solutions Inc. (NYSE:OPAD) Q4 2022 Earnings Conference Call February 22, 2023 5:00 PM ET Company Participants Stefanie Layton - VP-IR and ESG Brian Bair - Chairman and CEO Michael Burnett - CFO Conference Call Participants Dae Lee - JPMorgan Nick Jones - JMP Securities Ryan Tomasello - Stifel Mike Ng - Goldman Sachs Jay McCanless - Wedbush Operator Good afternoon. Thank you for attending today's Offerpad Fourth Quarter 2022 Earnings Call. My name is Hannah, and I will be your moderator for today's ...

Financial Data and Key Metrics Changes - In Q3 2022, the company generated $822 million in revenue, a 52% year-over-year increase, exceeding guidance [33] - The gross profit for Q3 was $2.2 million, with a net loss of $80 million and adjusted EBITDA of negative $64.3 million, which included a $27.5 million inventory impairment charge [34] - The total number of homes in inventory decreased by 12% from June 30, 2022, to 3,128 homes, and aged inventory over 180 days was at 5% or 150 homes [35] Business Line Data and Key Metrics Changes - The company sold 2,280 homes in Q3 2022, reflecting a 36% year-over-year increase, with an average sales price of $357,000 compared to $321,000 in Q3 2021 [33] - The FLEX listing and buying service grew from 7% of transaction volume in Q2 2020 to 29% in Q3 2022 [17] - The gross margin profile year-to-date was 31%, with expectations for the listing service to support long-term gross margin targets [18] Market Data and Key Metrics Changes - The company operates in 28 markets, with no single market accounting for more than 10% of revenue in Q3 2022, highlighting strategic market diversification [21] - Markets like Phoenix, Denver, and Las Vegas are experiencing significant pullbacks, while more affordable markets show signs of stabilization [19] Company Strategy and Development Direction - The core strategy focuses on providing a comprehensive suite of real estate solutions, including asset-light listing services and customizable renovation options [12][13] - The company is adapting its underwriting to account for increased risk and extended holding times, with a focus on selling existing inventory acquired before market disruptions [15][30] - The company aims to capitalize on the expected buyer's market by positioning itself as a real estate solution center with cash offers, listing services, and renovation capabilities [26][42] Management's Comments on Operating Environment and Future Outlook - Management expects volatility in the real estate market to extend beyond typical transition periods due to macroeconomic factors [23] - The company is focused on selling existing inventory and minimizing aged properties, with expectations to complete this process by the end of Q1 2023 [32] - Management believes that technology-enabled solutions will define the future of real estate, with significant growth potential in the iBuying industry [25] Other Important Information - The company reduced operating expenses by 14% in Q3 2022 compared to Q2 2022, reflecting a responsible approach to managing costs [38] - The cash balance at the end of Q3 was $197 million, providing a buffer during market volatility [39] Q&A Session Summary Question: What are the factors driving stability in certain markets? - Management noted that affordability is a key driver in markets like Indianapolis and Columbus, where home price appreciation has been less pronounced [48] Question: How far along is the company in selling homes acquired before market conditions deteriorated? - Management expects to predominantly sell older inventory by the end of Q1 2023, with a shift towards newer homes in subsequent quarters [50] Question: How is the company managing its financial covenants and capital base? - The company maintains regular communication with financial partners and is in compliance with covenants, ending Q3 with nearly $200 million in cash [58] Question: What gross and contribution margins are expected in Q4? - Management indicated that Q4 is expected to be the bottom for contribution margins, with a recovery anticipated in Q1 2023 [61] Question: How is the company addressing the impact of rising interest rates on home purchases? - Management is being selective in acquisitions, particularly in volatile markets, and is pushing more customers towards the FLEX product [91] Question: What is the outlook for inventory impairment charges? - Management expects lesser impacts from inventory impairment charges moving forward, contingent on market stabilization [95]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ FORM 10-Q Commission File Number: 001-39641 (Mark One) Offerpad Solutions Inc. ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact Name of Registrant as Specified in its Charter) For the quarterly period ended September 30, 2022 Delaware 85-2800538 (State or ...

Offerpad Solutions, Inc. (NYSE:OPAD) Q2 2022 Earnings Conference Call August 3, 2022 5:00 PM ET Company Participants Brian Bair - Chairman, CEO Michael Burnett - CFO Stefanie Layton - VP of IR, ESG Conference Call Participants Dae Lee - J.P Morgan Ryan Tomasello - KBW Jason Weaver - Compass Point LLC Nick Jones - JMP Securities Justin Ages - Berenberg Capital Markets Mike Ng - Goldman Sachs Jay McCanless - Wedbush Operator Good afternoon. And welcome to the Offerpad Second Quarter 2022 Earnings Call. My nam ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-39641 Offerpad Solutions Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 85-2800538 (State or o ...

Offerpado 1 | Q1 2022 LETTER TO SHAREHOLDERS Q1 | 2022 Q1 HIGHLIGHTS REVENUE $1.37B GROSS PROFIT $132.1M HOMES SOLD 3,602 HOMES ACQUIRED 2,856 Revenue increased $1.1 billion year over year Completed another quarter with positive Net Income Reported positive Adjusted EBITDA for the sixth consecutive quarter 2 | Q1 2022 04 Welcome to Offerpad 05 Letter to Shareholders 06 Investment Highlights 07 Customer Feedback 08 Business Highlights 10 ESG Highlights 11 Financial Results Summary 13 Second-Quarter 2022 Outl ...

Offerpad Solutions Inc. (NYSE:OPAD) Q1 2022 Earnings Conference Call May 4, 2022 5:00 PM ET Company Participants Brian Bair – Chairman and Chief Executive Officer Michael Burnett – Chief Financial Officer Stefanie Layton – Senior Director of Investor Relations Conference Call Participants Mike Ng – Goldman Sachs Dae Lee – J.P Morgan Andrew Boone – JMP Securities LLC Ryan Tomasello – Keefe, Bruyette & Woods Ben Sherlund – Cantor Fitzgerald Operator Good afternoon. Thank you for attending today's Offerpad Fir ...