At $15.1M, Offerpad's Q1 net loss was down 14% from Q4 2024, with home acquisitions up 18% to 454. A 9% drop in home sales caused revenue to shrink by 8% to $160.7M
$17.3M Q4 2024 net loss is a 28% increase from the previous quarter, as homes acquired dipped 9% to 384, and homes sold fell 18% to 503. Profits on each sale were also down 24%
In the wake of the National Association of Realtors' 3-month-old rule change, executives are reassessing agent pay amid pressure on commissions, an analysis of Q3 earnings data shows
Having slashed operating expenses by 40% from a year ago, the iBuyer has its sights set on eventually boosting home purchases to 1K per quarter on lower cost structure
CEO Brian Bair said in a recent interview that agents no longer view Offerpad as a threat, noting they can make 4% if a client takes the company’s cash offer and the home is updated and resold
Powered by Offerpad enables the iBuyers's PRO and MAX agent partners to manage listings, get real-time transaction updates and directly communicate with Offerpad support staff
Shares in Offerpad hit new all-time low in after-hours trading Monday after the iBuyer reported that it continues to trim its losses but expects further declines in revenue and homes sold in Q3
Offerpad is the latest company to join Realtor.com's Seller's Marketplace. Both companies said the partnership reflects their dedication to furthering consumer choice
Peter Knag joins the company in the middle of a rough real estate market, and when iBuying specifically appears to have lost some of its buzz
The iBuyer lost $17.5M between January and March, according to an earnings call Monday afternoon. However, that represents a 71% improvement compared to a year earlier
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