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Offerpad Solutions (OPAD)
NYSE:OPAD
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.45Last Year’s EPS
-0.57Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 23, 2022
|% Change Since: -15.90%
|Next Earnings Date:Nov 10, 2021
Earnings Call Sentiment|Neutral
The earnings call reflects a focused approach on achieving profitability through cost reductions and strategic adjustments amid challenging market conditions. While they have achieved significant cost savings and expanded their asset-light services, the company faces ongoing challenges with historically low transaction volumes and a decline in gross margin and home acquisitions.Company Guidance
In the Offerpad Q3 2024 earnings call, the company provided guidance reflecting a cautious yet optimistic outlook. Offerpad achieved revenue at the top of its guidance range, supported by a diversified product mix and strategic cost management. Notable metrics include a 91% customer satisfaction score, a strategic focus on asset-light growth contributing 30% to the total contribution margin after interest, and a projection of 15% to 20% increase in resale market transaction volume for 2025, estimating 4.3 to 4.5 million transactions. The company is targeting a return to a run rate of approximately 1,000 acquisitions per quarter by Q1 2025 and anticipates achieving adjusted EBITDA profitability with sustained profitability in any market condition. Offerpad's strategic efforts in cost efficiency are underscored by an expected annual cost saving of over $45 million, with a focus on maintaining strong cash flow and operational resilience.Revenue at the Top of Guidance
Offerpad delivered revenue at the top of their guidance, driven by a healthy mix of their products, including cash offers, B2B RENOVATE business, Direct Plus institutional buyer program, and Agent Partnership Program.
Asset Light Growth
Asset light growth now makes up 30% of the total contribution margin after interest.
Agent Partnership Program Expansion
Continued expansion of the Agent Partnership Program, which saw the PRO tier grow quarterly requests and acquisitions to 26% and 33% of total, respectively.
RENOVATE Business Success
Completed 227 RENOVATE projects generating over $4 million in revenue in Q3, surpassing 2023's total of $12 million with a running total of $14 million in 2024.
Cost Reduction Achievements
Achieved remarkable cost reductions, expecting to save over $45 million annually, up from the $30 million target earlier in the year.
Customer Satisfaction and Engagement
Customer engagement remained strong with a 91% satisfaction score and steady monthly request volume.
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OPAD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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OPAD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $3.27 | $3.16 | -3.36% |
| Aug 05, 2024 | $3.93 | $3.33 | -15.27% |
| May 06, 2024 | $7.26 | $6.74 | -7.16% |
| Feb 26, 2024 | $9.10 | $8.79 | -3.41% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Offerpad Solutions (OPAD) report earnings?
Offerpad Solutions (OPAD) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is Offerpad Solutions (OPAD) earnings time?
Offerpad Solutions (OPAD) earnings time is at Feb 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is OPAD EPS forecast?
OPAD EPS forecast for the fiscal quarter 2024 (Q4) is -0.45.
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