The Buying Engine Is Back On: Offerpad Announces Q2 2026 Results With Multi-Year High Margins and Accelerating Signings

TEMPE, Ariz.--(BUSINESS WIRE)--Offerpad Solutions Inc. (NYSE: OPAD), a leading tech-enabled real estate solutions company, today reported financial results for the second quarter ended June 30, 2026. During the quarter, Offerpad generated $78 million in revenue on 295 closed real estate transactions. Net loss was $9.3 million, and Adjusted EBITDA was a loss of $6.2 million, a sequential improvement, and the Company’s second consecutive quarter of progress toward positive Adjusted EBITDA. Gross margin improved to 9.2% from 6.9% in the first quarter, its highest level since the third quarter of 2023, driven by improved Cash Offer margins and continued growth in higher-margin services, which reached 30% of real estate transactions, up from 20% in the first quarter. Volume built steadily through the second quarter, with contract signings growing from 129 in April, to 163 in May, and 256 in June — nearly double where signings started. In June, roughly one in three post-inspection final offers converted to a signed contract; and based on recent cohorts, approximately 90% of signed contracts convert to an acquisition. This growing pipeline is expected to drive higher transaction volume in the second half of fiscal 2026, as homes typically sell within 120 to 150 days after signing. “For the past year, we’ve been executing against one clear operating framework, built around three objectives: disciplined transaction growth, expanding contribution margin, and operating leverage. That work is showing up now — the buying engine is back on, and every home we acquire reflects the discipline we built this business on,” said Brian Bair, Chairman and Chief Executive Officer of Offerpad. “The progress is reflected in our second quarter results, with contract signings nearly doubling within the quarter, while demand remained consistent. We expect that momentum to move through the transaction cycle and into future closings, and believe the operating leverage built into the business becomes increasingly evident.” Offerpad’s Operating Plan is anchored by three objectives that guide how the Company sets priorities, deploys capital and evaluates performance. Each has been reflected in how the Company has operated and reported over the past year: Scale transactions through disciplined growth. Restore volume through improved home selection, sharper pricing in faster-selling segments and higher funnel conversion, with a target of approximately 1,000 transactions per quarter, the level at which the Company believes its current cost structure can support Adjusted EBITDA breakeven. Expand contribution margin across homes and services. Improve pricing precision, reduce holding periods and grow higher-margin, fee-based revenue. In the second quarter, contribution profit after interest per real estate transaction improved to $13,500, up from $5,500 in the first quarter and its highest level since the third quarter of 2023. Drive operating leverage as volume scales. Maintain a structurally lower cost base, with over $140 million in annualized expenses removed since 2022, while scaling expected transaction volume with the goal of creating greater operating leverage and improving the path to profitability. “Second quarter results demonstrate continued improvement in the underlying economics of the business. Contribution profit after interest reached $13,500 per real estate transaction, our highest level in nearly three years, while Adjusted EBITDA improved sequentially for the second consecutive quarter. We’re also seeing real improvement in the metrics that drive future performance — average time to cash improved to 119 days in June, within our target range,” said Peter Knag, Chief Financial Officer of Offerpad. Looking Ahead Offerpad’s objective is unchanged: to exit 2026 at a run-rate of approximately 1,000 home transactions per quarter across Cash Offer, Cash Offer Marketplace, and Brokerage Services, excluding Renovate, and at a run-rate of positive Adjusted EBITDA. For the third quarter of 2026, Offerpad expects revenue in the range of $90 million to $100 million, with 350-400 real estate transactions (19-36% sequential increase), and anticipates Adjusted EBITDA to improve sequentially. The Company also published an Operating Plan, offering investors a closer look at how Offerpad thinks about the business — the priorities guiding its decisions and the way it measures progress over time. The plan is available at investor.offerpad.com. For additional information, please refer to Offerpad’s full financial results available at investor.offerpad.com. Q2 2026 Financial Results (year over year) Q2 2026 Q2 2025 Percentage Change Homes acquired 268 443 (40%) Homes sold 206 452 (54%) Total real estate transactions1 295 568 (48%) Revenue $77.7M $160.3M (52%) Gross profit $7.1M $14.2M (50%) Net loss ($9.3M) ($10.9M) 15% Adjusted EBITDA ($6.2M) ($4.8M) (29%) Diluted net loss per share ($1.94) ($3.93) 51% Gross profit per home sold $34,500 $31,400 10% Gross profit per real estate transaction $24,100 $25,000 (4%) Contribution profit after interest per home sold $19,400 $12,400 56% Contribution profit after interest per real estate transaction $13,500 $9,900 36% Cash and cash equivalents $33.1M $22.7M 46% 1 Total real estate transactions represents the total number of closed real estate transactions including Cash Offer homes sold, Cash Offer Marketplace transactions, and listings closed under our Brokerage Services solutions. Additional information regarding Offerpad’s second quarter of 2026 financial results and management commentary can be found by accessing the Company’s Quarterly Shareholder presentation on the Offerpad investor relations website. Third Quarter 2026 Outlook Offerpad is providing its third quarter outlook for 2026 as follows: Q3 2026 Outlook Real estate transactions 350 to 400 Revenue $90M to $100M Adjusted EBITDA2 Improve Sequentially 2 See Non-GAAP financial measures below for an explanation of why a reconciliation of this guidance cannot be provided. Conference Call and Webcast Details Brian Bair, Chairman and CEO, and Peter Knag, CFO, will host a conference call and accompanying webcast on August 3, 2026, at 4:30 p.m. ET. The webcast can be accessed on Offerpad’s Investor Relations website. Those interested can register here. Access to a replay of the webcast will be available from the same website address shortly after the live webcast concludes. About Offerpad Offerpad Solutions Inc. (NYSE: OPAD) is a real estate solutions company focused on giving homeowners more control, flexibility, and choice when buying and selling a home. Offerpad provides Cash Offers, Agent listing services, access to additional cash buyers through marketplace-enabled capabilities, and renovation services that support both internal transactions and third-party partners. Founded in 2015, the Company combines proprietary technology with local real estate expertise to simplify the home sale process and reduce friction across the transaction lifecycle, helping customers move forward with speed, transparency, and confidence. Learn more at www.offerpad.com. #OPAD_IR Forward-Looking StatementsRead the full story here

The Buying Engine Is Back On: Offerpad Announces Q2 2026 Results With Multi-Year High Margins and Accelerating Signings

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