v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 40,823 $ 26,543
Restricted cash 810 1,627
Accounts receivable 8,219 7,938
Real estate inventory 74,672 93,793
Prepaid expenses and other current assets 2,613 1,792
Total current assets 127,137 131,693
Property and equipment, net 14,386 14,673
Other non-current assets 8,248 8,405
Total assets [1] 149,771 154,771
Current liabilities:    
Accounts payable 2,122 1,667
Accrued and other current liabilities 8,379 8,698
Secured credit facilities and other debt, net 63,202 75,494
Secured credit facilities and other debt - related party 2,547 2,582
Warrant liabilities 192 361
Total current liabilities 76,442 88,802
Revolving credit facility, net 14,684 14,650
Other long-term liabilities 12,804 13,100
Total liabilities [2] 103,930 116,552
Commitments and contingencies (Note 15)
Stockholders' equity:    
Additional paid in capital 562,399 544,645
Accumulated deficit (516,563) (506,430)
Total stockholders' equity 45,841 38,219
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 149,771 154,771
Class A Common Stock    
Stockholders' equity:    
Common stock value $ 5 $ 4
[1] onsolidated assets as of March 31, 2026 and December 31, 2025 include the following assets of certain variable interest entities (“VIEs”) that can only be used to settle the liabilities of those VIEs: Restricted cash, $485 and $1,302; Accounts receivable, $348 and $303; Real estate inventory, $74,672 and $93,793; Prepaid expenses and other current assets, $219 and $169; Property and equipment, net $5,590 and $5,611; Total assets of $81,314 and $101,178, respectively.
[2] onsolidated liabilities as of March 31, 2026 and December 31, 2025 include the following liabilities for which the VIE creditors do not have recourse to Offerpad: Accounts payable, $351 and $398; Accrued and other current liabilities, $417 and $526; Secured credit facilities and other debt, net, $65,748 and $78,076; Total liabilities, $66,516 and $79,000, respectively.