The iBuyer expects to sell between 750 and 850 homes during Q1 2024, generate $245M to $285M in revenue and achieve positive adjusted EBITDA earnings later this year
The bombshell verdict of Sitzer | Burnett rocked the real estate industry, but recent earnings reports suggest many of its most recognizable CEOs don't anticipate major disruptions
The iBuyer reported Q3 earnings Thursday, with revenues declining 71% YOY to $234.2M. Offerpad dramatically slimmed losses and is on track to reach Adjusted EBITDA profitability by 2024
Having unloaded almost all of its older inventory, the iBuyer ramped up home acquisitions by 131%, to 840 homes, in the second quarter of 2023 and expects positive adjusted earnings by year's end
Pioneering iBuyer hopes to bring share price back above the New York Stock Exchange's $1 minimum threshold by converting every 15 shares of outstanding common stock into 1 share
Following a dramatic fourth quarter in which the iBuyer posted losses of $121.1M, Offerpad improved its net loss by 51% to $59.4M in Q1 as it continued to struggle to adapt to a shifting market
Offerpad sold more than 10,000 homes last year for the first time in company history, but posted a record $121.1M fourth-quarter loss, according to an earnings call for the iBuyer on Wednesday
Struggling iBuyer confirms the company has laid off an unspecified number of employees in a second round of layoffs, with more details coming on Feb. 22 Q4 earnings call
Private placement with existing investors including CEO Brian Bair extends the company's cash burn runway by six months to a year, dilutes existing shareholders KBW analysts say
Executives at pioneering iBuyer see tremendous opportunity if they can negotiate today's challenging 'in-between' phase where buyers and sellers are on the fence
Offerpad's stock slipped below $1 per share in late October, positioning the iBuyer to be delisted from the New York Stock Exchange, which could make it more difficult to buy and sell shares
The iBuyer earned about $41M in profit during the first 3 months of 2022, beating the results of its also-profitable run at the end of 2021, according to an Q1 earnings call on Wednesday
The iBuyer earned a profit of nearly $13M during the final 3 months of 2021 while also beating revenue forecasts, according to a Q4 earnings report issued Wednesday
With the implosion of Zillow Offers in October, all eyes will be on Opendoor and Offerpad as they duke it out for marketshare in 2022. Here are the biggest challenges Offerpad faces next year
CEO Brian Bair offered reassurance in the wake of Zillow's iBuying exit that Offerpad's business model is working