v3.26.1
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
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
Property and equipment, net 14,386 14,673
Total assets [1] 149,771 154,771
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
Total liabilities [2] 103,930 116,552
Variable Interest Entity [Member]    
Restricted cash 485 1,302
Accounts receivable 348 303
Real estate inventory 74,672 93,793
Prepaid expenses and other current assets 219 169
Property and equipment, net 5,590 5,611
Total assets 81,314 101,178
Accounts payable 351 398
Accrued and other current liabilities 417 526
Secured credit facilities and other debt, net 65,748 78,076
Total liabilities $ 66,516 $ 79,000
Class A Common Stock    
Common stock, par value $ 0.0001 $ 0.0001
Common stock, shares authorized 2,000,000,000 2,000,000,000
Common stock, shares issued 47,286,797 37,211,000
Common stock, shares outstanding 47,286,797 37,211,000
[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.