<div id="readability-page-1"><div>Overview<ul><li>Offerpad Q3 2025 revenue of $132.7M missed analyst expectations</li><li>Adjusted EBITDA for Q3 2025 missed analyst estimates</li><li>Company improved operating expenses by 38% yr/yr, reflecting cost efficiencies</li></ul>Outlook<ul><li>Offerpad expects Q4 2025 revenue between $100 mln and $125 mln</li><li>Company anticipates selling 300 to 350 homes in Q4 2025</li><li>Adjusted EBITDA for Q4 2025 expected to be similar to Q3 2025</li></ul>Result Drivers<ul><li>ASSET-LIGHT SERVICES - Expansion of asset-light services like HomePro, Renovate, and Direct+ positions Offerpad for scalable, higher-margin growth</li><li>COST EFFICIENCIES - Operating expenses improved by 38% yr/yr due to ongoing cost efficiencies and streamlined operations</li><li>LIQUIDITY STRENGTHENING - Total liquidity exceeds $75M, supported by Q3 and ongoing capital raise activities</li></ul>Key Details<div><table><tbody><tr><td>Metric</td><td>Beat/Miss</td><td>Actual</td><td>Consensus Estimate</td></tr><tr><td>Q3 Revenue</td><td>Miss</td><td>$132.69 mln</td><td>$173.01 mln (4 Analysts)</td></tr><tr><td>Q3 Net Income</td><td></td><td>-$11.60 mln</td><td></td></tr><tr><td>Q3 Adjusted EBITDA</td><td>Miss</td><td>-$4.60 mln</td><td>-$2.97 mln (4 Analysts)</td></tr><tr><td>Q3 Gross Profit</td><td></td><td>$9.30 mln</td><td></td></tr></tbody></table></div>Analyst Coverage<ul><li>The current average analyst rating on the shares is &#34;hold&#34; and the breakdown of recommendations is no &#34;strong buy&#34; or &#34;buy&#34;, 4 &#34;hold&#34; and no &#34;sell&#34; or &#34;strong sell&#34;</li><li>The average consensus recommendation for the real estate services peer group is &#34;buy.&#34;</li><li>Wall Street's median 12-month price target for Offerpad Solutions Inc is $1.15, about 103.5% below its October 31 closing price of $2.34</li></ul>Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.</div></div>

OPAD

Offerpad's Q3 2025 revenue of $132.7M fell short of analyst expectations, with adjusted EBITDA also missing estimates. The company improved operating expenses by 38% year-over-year. For Q4 2025, Offerpad anticipates revenue between $100M and $125M and plans to sell 300 to 350 homes. Despite liquidity exceeding $75M, the average analyst rating remains a "hold" with a median 12-month price target of $1.15, significantly below its recent closing price of $2.34.

Real estate tech firm Offerpad Q3 revenue misses analyst expectations