Offerpad Q1 revenue falls 50%

Overview

• U.S. real estate platform's Q1 revenue fell 50% yr/yr, missing analyst expectations

• Adjusted EBITDA loss for Q1 widened and missed analyst consensus

Outlook

• Offerpad expects Q2 2026 revenue of $80 mln to $90 mln

• Company sees Q2 2026 real estate transactions of 300 to 350

• Offerpad anticipates Adjusted EBITDA to improve sequentially and turn positive before end-2026

Result Drivers

• PLATFORM ENGAGEMENT - Co said increased engagement across its multi-solution platform and improved conversion contributed to results

• BROKERAGE SERVICES GROWTH - Referral volume in Brokerage Services exceeded full-year 2025 levels, with management citing accelerating engagement and a growing role in platform performance

• RENOVATE PARTNER EXPANSION - Renovate expanded partner relationships in Q1, which the company said contributes to a foundation for continued growth

Company press release: ID:nBw7tjDgNa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the real estate services peer group is "buy."

• Wall Street's median 12-month price target for Offerpad Solutions Inc is $1.40, about 77.8% above its April 29 closing price of $0.79

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