Offerpad Solutions Inc. · NYSE:OPAD
Offerpad Solutions — Q2 2026 Earnings Presentation
27 slides from Offerpad Solutions's earnings presentation, Aug 3, 2026
Slide 1: Investor Presentation Q2 2026
NYSE: OPAD INVESTOR PRESENTATION Q2 2026 A technology-enabled residential real estate solutions platform; diversifying business model and expanding higher margin, capital-light services 1
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements Certain statements in this presentation may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Offerpad’s future financial or operat
Slide 3: Mission: Provide your best way to buy and sell a home
MISSION: Provide your best way to buy and sell a home. Period. 3
Slide 4: Offerpad at a Glance
Offerpad at a Glance KEY METRICS WHO WE ARE Market Cap¹ $24.8 million Offerpad is a technology-enabled residential real estate solutions platform that simplifies the home buying and selling experience, currently TTM Revenues² $404.5 million operating in ~1,900 cities and towns across the U.S. Real E
Slide 5: Massive & Evolving Market Presents Substantial Opportunity
Massive & Evolving Market Presents Substantial Opportunity $1.9t 99% non-digital 1/ ~1% digital penetration 2 3 $1.3t “Buy Box” today 4 $511b 2025E renovation market 5 1. 2025: US Census & National Association of Realtors; 2. Company Estimates; 3. 2025: Houses in the US in the price range of $0 - $7
Slide 6: Investment Highlights
Investment Highlights Offerpad offers multiple monetization pathways through a comprehensive, AI-enabled residential real estate platform that addresses friction in the market through a combination of cash offers, renovation programs, listing services, and integrated support tools to give buyers and
Slide 7: Offerpad was founded to simplify how people buy and sell homes
Offerpad was founded to simplify how people buy and sell homes The home transaction is unnecessarily complex Fragmented across agents, lenders, inspectors, and service providers, with the consumer typically managing aspects of the handoff Outcomes are uncertain and often stressful Pricing volatility
Slide 8: Offerpad Platform Overview
Offerpad Platform Overview Cash Offer A technology-driven product that allows homeowners to receive a fast, data-based cash offer for their home Launched 2016 • Foundational anchor service Cash Offer Marketplace Offering access to short-term operators, regional investors, and structured capital buye
Slide 9: The Cash Offer Is the Foundation of the Platform
The Cash Offer Is the Foundation of the Platform The Cash Offer is the core offering that shaped Offerpad’s platform and enables everything the Company does. How the Cash Offer Works • Competitive cash offer with no showings, no staging, and no uncertainty • Sellers choose their closing date • Relia
Slide 10: The Cash Offer Marketplace: Scaling Transactions Beyond the Balance Sheet
The Cash Offer Marketplace: Scaling Transactions Beyond the Balance Sheet A marketplace that routes sellers to a curated network of institutional and regional buyers, generating fee-based revenue without deploying Offerpad's balance sheet. How the Marketplace Operates Offerpad Acquires the Home When
Slide 11: Brokerage Services: Designed to Capture and Convert More Sellers
Brokerage Services: Designed to Capture and Convert More Sellers Agent-led solutions that expand Offerpad’s reach and ensure sellers are matched to the right path, intended to harness demand that would otherwise leave the platform. How the Brokerage Services Works • Sellers who don't pursue a Cash O
Slide 12: Renovate: From Core Capability to Revenue Driver
Renovate: From Core Capability to Revenue Driver Embedded across the platform, Renovate increases the resale value of Offerpad-owned homes and generates higher margin revenue from B2B partners. How Renovate Operates • Renovation is embedded in the Cash Offer workflow, returning homes to market in mo
Slide 13: Ecosystem Expansion Plan Includes Multiple Profit Touch Points
Ecosystem Expansion Plan Includes Multiple Profit Touch Points Expand market penetration • Long-term goal to drive total market share to 3-4%, from current < 1% • Entry into new markets driven by data-based decisioning MINNEAPOLIS* DETROIT* Expand solutions available to sellers • Partner with local
Slide 14: Second Quarter 2026 Snapshot
Second Quarter 2026 Snapshot Q2 2026 Y/Y Homes Acquired 268 (40%) Homes Sold 206 (54%) Total Real Estate Transactions1 295 (48%) Total Revenue $77.7M (52%) Gross Profit $7.1M (50%) Net Income (Loss) ($9.3M) +15% Adj. EBITDA ($6.2M) (29%) Gross Profit/Home Sold $34.5K +10% Gross Profit/Total Real Est
Slide 15: Financial Performance Metrics
Financial Performance Metrics The macro environment has not changed materially through the back half of 2025. Transaction volumes remained below historical norms, affordability continued to limit mobility, and rates stayed unsettled as the Federal Reserve paused further cuts. For sellers, uncertaint
Slide 16: 2026 Financial Outlook and Goals
2026 Financial Outlook and Goals “For the past year, we’ve been executing against one clear operating framework, built around three objectives: disciplined transaction growth, expanding contribution margin, and operating leverage. That work is showing up now — the buying engine is back on, and every
Slide 17: Investment Conclusions
Investment Conclusions Platform Built for Scalable, Multi-Pathway Growth 1 Offerpad has evolved into a multi-solution platform powered by AI, aligning with how sellers engage today—seeking flexibility, clarity, and multiple transaction options Strengthened Operating Model With Clear Line of Sight to
Slide 18: Appendix: Financial Statements & Reconciliations
APPENDIX: Financial Statements & Reconciliations 18
Slide 19: Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations Three Months Ended June 30, (in thousands, except per share data) 2026 2025 Revenue $ 77,653 $ 160,315 Cost of revenue 70,536 146,126 Gross profit 7,117 14,189 Operating expenses: Sales, marketing, and operating 7,622 13,188 General and administrative 6
Slide 20: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets As of June 30, As of December 31, (in thousands, except par value per share) 2026 2025 ASSETS Current assets: Cash and cash equivalents $ 33,118 $ 26,543 Restricted cash 1,741 1,627 Accounts receivable 6,132 7,938 Real estate inventory 94,226 93,793 Prepaid expe
Slide 21: Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows 21
Slide 22: Non-GAAP Financial Measures
Non-GAAP Financial Measures In addition to Offerpad’s results of operations above, Offerpad reports certain financial measures that are not required by, or presented in accordance with, U.S. generally accepted accounting principles (“GAAP”). These measures have limitations as analytical tools when a
Slide 23: Adjusted Gross Profit / Margin
Adjusted Gross Profit / Margin Offerpad calculates Adjusted Gross Profit as gross profit under GAAP adjusted for (1) net real estate inventory valuation adjustment plus (2) interest expense associated with homes sold in the presented period and recorded in cost of revenue. Net real estate inventory
Slide 24: Non-GAAP Reconciliations − Adjusted Gross Profit and Contribution Profit
Non-GAAP Reconciliations − Adjusted Gross Profit and Contribution Profit Three Months Ended (in thousands, except percentages, homes sold and real estate transactions, unaudited) June 30, 2026 March 31, 2026 June 30, 2025 Gross profit $7,117 $5,557 $14,189 Gross margin 9.2% 6.9% 8.9% Homes sold 206
Slide 25: Adjusted Net Income (Loss) and Adjusted EBITDA
Adjusted Net Income (Loss) and Adjusted EBITDA Offerpad also presents Adjusted Net Income (Loss) and Adjusted EBITDA, which are non-GAAP financial measures, which the management team uses to assess Offerpad’s underlying financial performance. Offerpad believes these measures provide insight into per
Slide 26: Non-GAAP Reconciliations − Adjusted EBITDA
Non-GAAP Reconciliations − Adjusted EBITDA Three Months Ended (in thousands, except percentages, unaudited) June 30, 2026 March 31, 2026 June 30, 2025 Net loss (GAAP) $(9,288) $(10,133) $(10,903) Change in fair value of warrant liabilities (123) (169) (329) Adjusted net loss $(9,411) $(10,302) $(11,
Slide 27: Contact Us
Contact Us Cortney Read Vice President, Investor Relations & Communications investors@offerpad.com investor.offerpad.com 27