Following a dramatic Q4 in which the iBuyer posted losses of $121.1 million, Offerpad improved its net loss by 51 percent to $59.4 million in Q1 as it struggles to adapt to a shifting market.
Source: Inman News
Offerpad narrows losses despite another quarter of falling revenue
More from Brian BairMore posts in Brian Bair »
- Offerpad sees declining revenue, but trims losses during Q2
- IBuyer Offerpad cuts Q1 loss and boosts acquisitions as sales fall
- Offerpad losses mount as iBuyer acquires and sells fewer homes
- Impact of NAR’s commission rule change illuminated in Q3 earnings
- Offerpad dialed back its iBuyer acquisitions by 49% in Q3
More from earningsMore posts in earnings »
- RE/MAX stays profitable as US agent count, revenue decline
- Tech, scale and strategy fuel Q1 wins across real estate
- Blend seeks to sell Title365 as mortgage revenue shrinks in Q1
- Rocket says it could close Redfin acquisition as soon as this quarter
- Investors cheer as Guild grows Q1 mortgage originations by 35%
More from funding roundMore posts in funding round »
- Virtual real estate brokerage Radius raises $13M in Series A funding
- Black-owned fintech startup Esusu hits $1B unicorn valuation
- California Regional MLS launches venture fund, invests in Perchwell
- AI property management startup MeetElise raises $23.5M in Series B
- Relocation tech startup Updater eyes big 2022 with $60M round
More from ibuyersMore posts in ibuyers »
More from layoffsMore posts in layoffs »
- Ally Financial’s exit from mortgage will impact Better, HouseCanary
- Flagstar shedding 1,900 workers, but many could land at Mr. Cooper
- Side debuts profit-sharing program, lays off staff members
- Redfin lays off nearly 100 Redfin Concierge service employees
- Offerpad confirms layoffs after ‘restructuring’ amid down market
More from Markets & EconomyMore posts in Markets & Economy »
More from News BriefMore posts in News Brief »
More from offerpadMore posts in offerpad »
- Opendoor’s resurrection: Will there be an iBuyer afterlife?
- He started the Opendoor stock rally. Now he wants the CEO out
- Opendoor grows revenue and trims losses in 2nd quarter rally
- Offerpad sees declining revenue, but trims losses during Q2
- ‘Meme stock’ surge lifts Opendoor out of delisting danger zone
More from SelectMore posts in Select »
- What real estate agents can learn from TikTok, Tylenol and Disney
- Democrats seek transparency into Fannie, Freddie ‘reprivatization’
- Former agent convicted of swindling woman out of her home
- Is fall the new spring? Market winds may be shifting, NAR says
- I’ve studied real estate marketing for 31 years. Here are 7 essentials for effective marketing campaigns
More from TechnologyMore posts in Technology »
Be First to Comment