v3.26.1
Variable Interest Entities - Summary of Assets and Liabilities Related to VIEs (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Assets      
Restricted Cash $ 810   $ 4,857
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  
Liabilities      
Accounts payable 2,122 1,667  
Total liabilities [2] 103,930 116,552  
Variable Interest Entity [Member]      
Assets      
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  
Liabilities      
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  
[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.