Offerpad Solutions reports Q1 EPS (64c), consensus (46c)

Reports Q1 revenue $285.4M, consensus $270.2M. “The first quarter of 2024 continued the positive trajectory we experienced exiting 2023. While the macro is still volatile, the first quarter was one of increasing stability and we believe this trend will continue through 2024,” said Brian Bair, CEO. “We are making steady progress against our key strategic imperatives. We are focused on expanding our asset light platform services, particularly Renovate, which grew 78% in the quarter; increasing our buy box; growing our partner ecosystem; and achieving adjusted EBITDA profitability.”