← Offerpad Solutions Inc.
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|
| Depreciation | $377k | $434k | $523k | $1.0m | $728k | $611k | $979k | |
| Amortization of debt financing costs | $40k | $262k | $916k | $2.9m | $4.3m | $1.8m | $815k | |
| Loss on disposal of property and equipment | $0 | $0 | ($246k) | $0 | $76k | $105k | $162k | |
| Net loss | ($52.0m) | ($217k) | $6.5m | ($148.6m) | ($117.2m) | ($62.2m) | ($46.4m) | |
| Real estate inventory valuation adjustment | $3.0m | $3.2m | $2.8m | $93.8m | $8.9m | $4.5m | $5.3m | |
| Stock-based compensation | $1.3m | $1.4m | $3.1m | $8.3m | $7.9m | $8.1m | $2.8m | |
| Change in fair value of warrant liabilities | — | $0 | ($2.5m) | ($23.5m) | ($68k) | ($240k) | $130k | |
| Gain on sale of derivative instruments | — | — | $0 | $0 | ($2.1m) | $0 | $0 | |
| Accounts receivable | ($1.1m) | $937k | ($3.8m) | $3.8m | ($7.6m) | $6.1m | ($4.1m) | |
| Real estate inventory | ($60.7m) | $169.1m | ($949.6m) | $374.1m | $379.3m | $57.9m | $109.4m | |
| Prepaid expenses and other assets | ($937k) | $115k | ($5.3m) | ($275k) | $3.7m | $4.5m | $2.1m | |
| Accounts payable | ($2.4m) | $31k | $4.1m | ($1.8m) | $299k | ($3.0m) | ($255k) | |
| Accrued and other liabilities | $3.5m | $107k | $21.6m | ($4.4m) | ($16.7m) | $2.8m | ($4.2m) | |
| Purchases of property and equipment | ($1.0m) | ($2.9m) | ($13.7m) | ($1.1m) | ($127k) | ($5.4m) | ($1.1m) | |
| Proceeds from sales of property and equipment | $60k | $0 | $2.0m | $0 | $0 | $82k | $19k | |
| Purchases of derivative instruments | — | — | $0 | $0 | ($2.6m) | $0 | $0 | |
| Proceeds from sale of derivative instruments | — | — | $0 | $0 | $4.7m | $0 | $0 | |
| Borrowings from secured credit facilities and other debt | $1.1b | $800.0m | $2.8b | $3.2b | $875.6m | $807.9m | $416.6m | |
| Borrowings on revolving credit facility | — | — | — | — | $0 | $0 | $15.0m | |
| Proceeds from July 2025 Offering | — | $402.5m | — | — | $0 | $0 | $6.0m | |
| Issuance costs of July 2025 Offering | — | — | — | — | $0 | $0 | ($839k) | |
| Proceeds from Sale Agreement offering | — | — | — | — | $0 | $0 | $30.3m | |
| Issuance costs of Sale Agreement offering | — | — | — | — | $0 | $0 | ($1.3m) | |
| Proceeds from exercise of stock options | $170k | — | $902k | $4.9m | $53k | $33k | $168k | |
| Payments for taxes related to stock-based awards | — | $0 | $0 | ($285k) | ($78k) | ($77k) | ($203k) | |
| Borrowings from warehouse lending facility | — | — | $0 | $0 | $25.2m | $0 | $0 | |
| Repayments of warehouse lending facility | — | — | $0 | $0 | ($25.2m) | $0 | $0 | |
| Proceeds from issuance of pre-funded warrants | — | — | $0 | $0 | $90.0m | $0 | $0 | |
| Proceeds from exercise of pre-funded warrants | — | — | $0 | $0 | $11k | $0 | $0 | |
| Issuance cost of pre-funded warrants | — | $0 | ($51.2m) | $0 | $0 | $0 | $0 | |
| Cash payments for interest | $20.0m | $14.0m | $21.9m | $59.7m | $24.7m | $24.5m | $16.9m | |
| Cash payments for taxes, net of refunds received | — | — | — | — | $382k | $262k | $385k | |
| Transfer of real estate inventory to property and equipment, net | $0 | $0 | $14.5m | $0 | $0 | $0 | $5.6m | |
| Net cash provided by operating activities | ($109.0m) | ($492k) | ($921.9m) | $305.4m | $261.6m | $20.8m | $66.8m | |
| Net cash (used in) provided by investing activities | ($979k) | ($402.5m) | ($11.7m) | ($1.1m) | $2.0m | ($5.3m) | ($1.1m) | |
| Repayments of secured credit facilities and other debt | ($1.0b) | ($960.5m) | ($1.9b) | ($3.5b) | ($1.3b) | ($829.5m) | ($576.2m) | |
| Payment of debt financing costs | ($52k) | ($457k) | ($7.6m) | ($646k) | ($1.9m) | ($236k) | ($693k) | |
| Net cash used in financing activities | $122.5m | $404.1m | $1.1b | ($358.5m) | ($324.0m) | ($21.8m) | ($111.2m) | |
| Net change in cash, cash equivalents and restricted cash | $12.6m | $1.1m | $143.7m | ($54.1m) | ($60.4m) | ($6.3m) | ($45.5m) | |
| Cash, cash equivalents and restricted cash, beginning of period | $29.9m | $50.7m | $194.4m | $140.3m | $79.9m | $73.6m | $28.2m | |
| Cash and cash equivalents | $22.9m | $43.9m | $169.8m | $97.2m | $76.0m | $43.0m | $26.5m | |
| Restricted cash | $7.0m | $6.8m | $24.6m | $43.1m | $4.0m | $30.6m | $1.6m | |
| Total cash, cash equivalents and restricted cash | — | — | — | $140.3m | $79.9m | $73.6m | $28.2m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.