Juan Chung's questions to Offerpad Solutions Inc (OPAD) leadership • Q2 2025
Question
Juan Chung, on behalf of Ryan Tomasello from Keefe, Bruyette & Woods, asked for details on the economics of the HomePro offering compared to a traditional cash offer and questioned the company's comfort with its capital position to fund its path to breakeven.
Answer
CFO Peter Knag clarified that while asset-light services like HomePro have a different revenue recognition model (net vs. gross), the per-transaction value to the bottom line is similar to cash offers. He affirmed comfort with the company's capital position, citing over $75 million in liquidity and declining fixed costs. CEO Brian Bair added that HomePro is designed to improve overall customer conversion by offering multiple solutions.