v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
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 expenses and other current assets 2,919 1,792
Total current assets 138,136 131,693
Property and equipment, net 14,074 14,673
Other non-current assets 8,079 8,405
Total assets [1] 160,289 154,771
Current liabilities:    
Accounts payable 2,881 1,667
Accrued and other current liabilities 7,580 8,698
Secured credit facilities and other debt, net 82,306 75,494
Secured credit facilities and other debt - related party 2,866 2,582
Warrant liabilities 69 361
Total current liabilities 95,702 88,802
Revolving credit facility, net 14,718 14,650
Other long-term liabilities 12,563 13,100
Total liabilities [2] 122,983 116,552
Commitments and contingencies (Note 15)
Stockholders' equity:    
Additional paid in capital 563,157 544,649
Accumulated deficit (525,851) (506,430)
Total stockholders' equity 37,306 38,219
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 160,289 154,771
Class A Common Stock    
Stockholders' equity:    
Common stock value $ 0 $ 0
[1] onsolidated assets as of June 30, 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, $1,416 and $1,302; Accounts receivable, $154 and $303; Real estate inventory, $94,226 and $93,793; Prepaid expenses and other current assets, $268 and $169; Property and equipment, net, $5,585 and $5,611; Total assets of $101,649 and $101,178, respectively.
[2] onsolidated liabilities as of June 30, 2026 and December 31, 2025 include the following liabilities for which the VIE creditors do not have recourse to Offerpad: Accounts payable, $834 and $398; Accrued and other current liabilities, $409 and $526; Secured credit facilities and other debt, net, $85,172 and $78,076; Total liabilities, $86,415 and $79,000, respectively.