Offerpad remains profitable, plans to ratchet up purchases

(Disclosure: Rose Law Group represents Offerpad.)

By Brooklee Han | RealTrends

For the third quarter in a row Arizona-based iBuyer Offerpad turned a profit. During the second quarter of 2022, Offerpad recorded year over year revenue growth of 185% for a total of $1.1 billion in revenue. The company’s net income came in at $11.6 million, up 26% from a year prior.

Offerpad, founded by CEO Brian Bair in 2015, went public through a special-purpose acquisition company, or SPAC, in September, at a valuation of $2.7 billion. The company’s market cap has since sunk to $512 million.

READ ON:

Share this!

Additional Articles

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories