Offerpad Solutions Inc.
For the period ended Sep 30, 2025. Filed Nov 3, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 3, 2025
OPAD$2.11-1.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
| Nine Months Ended | ||
|---|---|---|
| September 30, | ||
| ($ in thousands) (Unaudited) | 2025 | 2024 |
| Cash flows from operating activities: | ||
| Net loss | $(37,564) | $(44,834) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
| Depreciation | 712 | 464 |
| Amortization of debt financing costs | 700 | 1,466 |
| Real estate inventory valuation adjustment | 4,801 | 2,016 |
| Stock-based compensation | 3,854 | 7,831 |
| Change in fair value of warrant liabilities | 915 | (349) |
| Loss on disposal of property and equipment | 162 | 62 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (3,540) | 4,346 |
| Real estate inventory | 47,006 | 18,012 |
| Prepaid expenses and other assets | 1,529 | 3,920 |
| Accounts payable | (10) | (2,382) |
| Accrued and other liabilities | (2,258) | (2,956) |
| Net cash provided by (used in) operating activities | 16,307 | (12,404) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (1,079) | (1,245) |
| Proceeds from sale of property and equipment | 19 | 46 |
| Net cash used in investing activities | (1,060) | (1,199) |
| Cash flows from financing activities: | ||
| Borrowings from secured credit facilities and other debt | 360,641 | 628,105 |
| Repayments of secured credit facilities and other debt | (456,293) | (635,877) |
| Payment of debt financing costs | (486) | (73) |
| Borrowings on revolving credit facility | 15,000 | — |
| Proceeds from July 2025 Offering | 6,000 | — |
| Issuance costs of July 2025 Offering | (839) | — |
| Proceeds from Sale Agreement offering | 21,718 | — |
| Issuance costs of Sale Agreement offering | (938) | — |
| Proceeds from exercise of stock options | 168 | 17 |
| Payments for taxes related to stock-based awards | (200) | (77) |
| Net cash used in financing activities | (55,229) | (7,905) |
| Net change in cash, cash equivalents and restricted cash | (39,982) | (21,508) |
| Cash, cash equivalents and restricted cash, beginning of period | 73,626 | 79,934 |
| Cash, cash equivalents and restricted cash, end of period | $33,644 | $58,426 |
| Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheet: | ||
| Cash and cash equivalents | $30,959 | $48,504 |
| Restricted cash | 2,685 | 9,922 |
| Total cash, cash equivalents and restricted cash | $33,644 | $58,426 |
| Supplemental disclosure of cash flow information: | ||
| Cash payments for interest | $12,958 | $19,204 |
| Cash payments for taxes, net of refunds received | $392 | $262 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.