v3.26.1
Variable Interest Entities - Summary of Assets and Liabilities Related to VIEs (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Jun. 30, 2025
Assets      
Restricted Cash $ 1,741   $ 4,096
Accounts receivable 6,132 $ 7,938  
Real estate inventory 94,226 93,793  
Prepaid expenses and other current assets 2,919 1,792  
Property and equipment, net 14,074 14,673  
Total assets [1] 160,289 154,771  
Liabilities      
Accounts payable 2,881 1,667  
Total liabilities [2] 122,983 116,552  
Variable Interest Entity [Member]      
Assets      
Restricted Cash 1,416 1,302  
Accounts receivable 154 303  
Real estate inventory 94,226 93,793  
Prepaid expenses and other current assets 268 169  
Property and equipment, net 5,585 5,611  
Total assets 101,649 101,178  
Liabilities      
Accounts payable 834 398  
Accrued and other current liabilities 409 526  
Secured credit facilities and other debt, net 85,172 78,076  
Total liabilities $ 86,415 $ 79,000  
[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.