Offerpad Solutions Inc. (OPAD) Q1 2025 Earnings Call Transcript

Offerpad Solutions Inc. (NYSE:OPAD) Q1 2025 Results Conference Call May 5, 2025 4:30 PM ET

Company Participants

Cortney Read – Chief-Staff & Vice President-Operations
Brian Bair – Chairman & Chief Executive Officer
Peter Knag – Chief Financial Officer

Conference Call Participants

Nick Jones – Citizens Financial Group
Dae K. Lee – JPMorgan
Ryan Tomasello – KBW
Michael Ng – Goldman Sachs
Vincent Kardos – Jefferies

Operator

Good afternoon, and thank you for attending today’s Offerpad First Quarter 2025 Earnings Conference Call. My name is Jayla, and I’ll be your moderator for today. [Operator Instructions]

I’d now like to turn the conference to your host, Courtney Reed. Courtney, you may proceed.

Cortney Read

Good afternoon, and welcome to Offerpad’s First Quarter 2025 Earnings Call. I’m joined today by Offerpad’s Chairman and Chief Executive Officer, Brian Bair; and Chief Financial Officer, Peter Knag. During the call today, management will make forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.

Forward-looking statements are inherently uncertain, and events could differ significantly from management’s expectations. Please refer to the risks, uncertainties and other factors relating to the company’s business described in our filings with the U.S. Securities and Exchange Commission.

Except as required by applicable law, Offerpad does not intend to update or alter forward-looking statements, whether as a result of new information, future events or otherwise. On today’s call, management will refer to certain non-GAAP financial measures. These metrics exclude certain items discussed in our earnings release under the heading non-GAAP financial measures. The reconciliations of Offerpad non-GAAP measures to the comparable GAAP measures are on the financial tables of the first quarter earnings release on Offerpad’s website. With that, I’ll turn the call over to Brian.

Brian Bair

Thank you, Courtney. Let’s start with a quick look at Q1 results, then I’ll