Offerpad Reports Q3 2026 Revenue Decline Amid Rising Mortgage Rates
Offerpad Solutions Inc. (OPAD) reported third-quarter revenue of $78.1 million, a 41% decrease compared to the previous year, driven by slower home sales and rising mortgage rates which climbed from 6.7% in August to 7.4% in October. The company recorded an adjusted EBITDA loss of $7.5 million and a net loss of $11.5 million, as total real estate transactions fell to 324 closings, missing the previous guidance range. Despite the revenue contraction, management highlighted improved unit economics, with contribution profit per transaction more than doubling to $12,900. To combat market volatility, Offerpad is implementing $8 million to $10 million in annualized operating expense reductions and has pushed its target for reaching a positive adjusted EBITDA run rate to the end of Q2 2027.
Tickers: $OPAD
Topics: Adjusted EBITDA loss Inventory acquisition Net Loss Real estate transactions Revenue decline
Read the full article at Motley Fool
Part of the story Liberty Mutual Reports Q3 2026 Net Income of $2.067 Billion (57 articles)