$OPAD
Offerpad Solutions Inc.

2021 Q3 Form 10-Q Financial Statement

#000095017021004154 Filed on November 10, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q4 2020 Q3
Revenue $540.3M $223.2M $186.4M
YoY Change 189.91%
Cost Of Revenue $487.2M $166.6M
YoY Change 192.42%
Gross Profit $53.12M $25.26M $19.77M
YoY Change 168.77%
Gross Profit Margin 9.83% 11.31% 10.61%
Selling, General & Admin $46.89M $265.4K $20.05M
YoY Change 133.82%
% of Gross Profit 88.26% 1.05% 101.46%
Research & Development $2.777M $1.633M
YoY Change 70.06%
% of Gross Profit 5.23% 8.26%
Depreciation & Amortization $100.0K $100.0K
YoY Change 0.0%
% of Gross Profit 0.19% 0.51%
Operating Expenses $49.66M $265.4K $21.69M
YoY Change 129.01%
Operating Profit $3.458M $424.0K -$1.921M
YoY Change -280.01%
Interest Expense $5.495M -$25.09M $1.312M
YoY Change 318.83%
% of Operating Profit 158.91% -5916.39%
Other Income/Expense, Net -$18.68M -$1.023M
YoY Change 1726.0%
Pretax Income -$15.22M -$25.35M -$2.944M
YoY Change 417.05%
Income Tax -$81.00K $4.750K
% Of Pretax Income
Net Earnings -$15.30M -$1.319M -$2.944M
YoY Change 419.8%
Net Earnings / Revenue -2.83% -0.59% -1.58%
Basic Earnings Per Share -$0.13 -$0.02 -$0.05
Diluted Earnings Per Share -$0.13 -$0.02 -$0.05
COMMON SHARES
Basic Shares Outstanding 116.0M 57.87M
Diluted Shares Outstanding 116.0M 57.87M

Balance Sheet

Concept 2021 Q3 2020 Q4 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $116.6M $1.080M
YoY Change
Cash & Equivalents $116.6M $43.94M $35.95M
Short-Term Investments
Other Short-Term Assets $30.48M $405.5K $500.0K
YoY Change 5995.4%
Inventory $902.1M $171.4M
Prepaid Expenses $405.5K
Receivables $10.04M $2.309M
Other Receivables $0.00
Total Short-Term Assets $1.059B $227.3M $500.0K
YoY Change 211742.2%
LONG-TERM ASSETS
Property, Plant & Equipment $9.556M $8.231M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $402.6M
YoY Change
Other Assets $193.0K $352.0K
YoY Change
Total Long-Term Assets $9.749M $8.583M -$32.34K
YoY Change -30241.6%
TOTAL ASSETS
Total Short-Term Assets $1.059B $227.3M $500.0K
Total Long-Term Assets $9.749M $8.583M -$32.34K
Total Assets $1.069B $235.9M $467.7K
YoY Change 228478.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.126M $2.149M $24.45K
YoY Change 24955.21%
Accrued Expenses $28.35M $11.18M $293.4K
YoY Change 9564.76%
Deferred Revenue
YoY Change
Short-Term Debt $751.0M $0.00 $100.0K
YoY Change 750941.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $785.5M $190.3M $432.9K
YoY Change 181350.5%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $39.71M $63.86M $0.00
YoY Change
Total Long-Term Liabilities $39.71M $63.86M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $785.5M $190.3M $432.9K
Total Long-Term Liabilities $39.71M $63.86M $0.00
Total Liabilities $825.2M $195.0M $467.9K
YoY Change 176264.79%
SHAREHOLDERS EQUITY
Retained Earnings -$144.9M -$138.5M -$25.26K
YoY Change 573474.6%
Common Stock $30.38M $23.99K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.65M
YoY Change
Treasury Stock Shares
Shareholders Equity $243.7M -$143.3M -$142.4M
YoY Change
Total Liabilities & Shareholders Equity $1.069B $235.9M $467.7K
YoY Change 228478.27%

Cashflow Statement

Concept 2021 Q3 2020 Q4 2020 Q3
OPERATING ACTIVITIES
Net Income -$15.30M -$1.319M -$2.944M
YoY Change 419.8%
Depreciation, Depletion And Amortization $100.0K $100.0K
YoY Change 0.0%
Cash From Operating Activities -$704.0M -$491.7K $0.00
YoY Change
INVESTING ACTIVITIES
Capital Expenditures -$13.61M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $2.032M -$402.5M
YoY Change
Cash From Investing Activities -$11.58M -$402.5M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 802.3M 404.1M 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -704.0M -491.7K 0.000
Cash From Investing Activities -11.58M -402.5M
Cash From Financing Activities 802.3M 404.1M 0.000
Net Change In Cash 86.71M 1.080M 0.000
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$704.0M -$491.7K $0.00
Capital Expenditures -$13.61M
Free Cash Flow -$690.4M
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q3 us-gaap Other Notes Payable
OtherNotesPayable
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
CY2020Q4 opad Warrant Liabilities
WarrantLiabilities
CY2020Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
CY2021Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
CY2021Q3 us-gaap Treasury Stock Value
TreasuryStockValue
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
CY2021Q3 us-gaap Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
CY2021Q3 us-gaap Long Term Notes And Loans
LongTermNotesAndLoans
CY2020Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2021Q3 opad Secured Credit Facilities And Notes Payable Net Of Current Portion
SecuredCreditFacilitiesAndNotesPayableNetOfCurrentPortion
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
opad Transfer Of Property And Equipment Net To Inventory
TransferOfPropertyAndEquipmentNetToInventory
CY2021Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
dei Amendment Flag
AmendmentFlag
false
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
CY2020Q4 us-gaap Secured Debt Other
SecuredDebtOther
dei Entity Central Index Key
EntityCentralIndexKey
0001825024
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
dei Document Period End Date
DocumentPeriodEndDate
2021-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-39641
dei Entity Registrant Name
EntityRegistrantName
Offerpad Solutions Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
85-2800538
dei Entity Address Address Line1
EntityAddressAddressLine1
2150 E. Germann Road
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 1
dei Entity Address City Or Town
EntityAddressCityOrTown
Chandler
dei Entity Address State Or Province
EntityAddressStateOrProvince
AZ
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
85286
dei City Area Code
CityAreaCode
844
dei Local Phone Number
LocalPhoneNumber
388-4539
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
false
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Shell Company
EntityShellCompany
false
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
116634000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
43938000
CY2021Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
20024000
CY2020Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
6804000
CY2021Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
10038000
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2309000
CY2021Q3 us-gaap Inventory Net
InventoryNet
902062000
CY2020Q4 us-gaap Inventory Net
InventoryNet
171359000
CY2021Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
10453000
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2880000
CY2021Q3 us-gaap Assets Current
AssetsCurrent
1059211000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
841027000
CY2021Q3 us-gaap Cost Of Revenue
CostOfRevenue
487165000
CY2020Q3 us-gaap Cost Of Revenue
CostOfRevenue
166600000
us-gaap Cost Of Revenue
CostOfRevenue
1065383000
CY2020Q4 us-gaap Assets Current
AssetsCurrent
227290000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9556000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8231000
CY2021Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
193000
CY2020Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
352000
CY2021Q3 us-gaap Assets
Assets
1068960000
CY2020Q4 us-gaap Assets
Assets
235873000
CY2021Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
6126000
CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
2149000
CY2021Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
28354000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
11181000
CY2021Q3 opad Secured Credit Facilities And Notes Payable
SecuredCreditFacilitiesAndNotesPayable
509833000
CY2020Q4 opad Secured Credit Facilities And Notes Payable
SecuredCreditFacilitiesAndNotesPayable
50143000
CY2021Q3 opad Secured Credit Facilities And Notes Payable Net Related Party
SecuredCreditFacilitiesAndNotesPayableNetRelatedParty
241208000
CY2020Q4 opad Secured Credit Facilities And Notes Payable Net Related Party
SecuredCreditFacilitiesAndNotesPayableNetRelatedParty
126825000
CY2021Q3 us-gaap Liabilities Current
LiabilitiesCurrent
785521000
CY2020Q4 us-gaap Liabilities Current
LiabilitiesCurrent
190298000
CY2020Q4 opad Secured Credit Facilities And Notes Payable Net Of Current Portion
SecuredCreditFacilitiesAndNotesPayableNetOfCurrentPortion
4710000
CY2021Q3 opad Warrant Liabilities
WarrantLiabilities
39711000
CY2021Q3 us-gaap Liabilities
Liabilities
825232000
CY2020Q4 us-gaap Liabilities
Liabilities
195008000
CY2021Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0
CY2020Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
184123000
CY2021Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
388566000
CY2020Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
5908000
CY2021Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-144862000
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-138516000
CY2020Q4 us-gaap Treasury Stock Value
TreasuryStockValue
10650000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
243728000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-143258000
CY2021Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1068960000
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
235873000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
540287000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
186365000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1202906000
us-gaap Cost Of Revenue
CostOfRevenue
778503000
CY2021Q3 us-gaap Gross Profit
GrossProfit
53122000
CY2020Q3 us-gaap Gross Profit
GrossProfit
19765000
us-gaap Gross Profit
GrossProfit
137523000
us-gaap Gross Profit
GrossProfit
62524000
CY2021Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
38727000
CY2020Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
16072000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.38
CY2021Q3 us-gaap Operating Expenses
OperatingExpenses
49664000
CY2020Q3 us-gaap Operating Expenses
OperatingExpenses
21686000
us-gaap Operating Expenses
OperatingExpenses
121092000
us-gaap Operating Expenses
OperatingExpenses
76706000
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
3458000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
95398000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
59048000
CY2021Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
8160000
CY2020Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3981000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
18031000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
12204000
CY2021Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2777000
CY2020Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1633000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7663000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5454000
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-1921000
us-gaap Operating Income Loss
OperatingIncomeLoss
16431000
us-gaap Operating Income Loss
OperatingIncomeLoss
-14182000
CY2021Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
13185000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
13185000
CY2021Q3 us-gaap Interest Expense
InterestExpense
5495000
CY2020Q3 us-gaap Interest Expense
InterestExpense
1312000
us-gaap Interest Expense
InterestExpense
9670000
us-gaap Interest Expense
InterestExpense
8404000
CY2020Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
289000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
248000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
787000
CY2021Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-18680000
CY2020Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1023000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-22607000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-7617000
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-15222000
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-2944000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-6176000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-21799000
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-81000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-170000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-15303000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-2944000
us-gaap Net Income Loss
NetIncomeLoss
-6346000
us-gaap Net Income Loss
NetIncomeLoss
-21799000
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.38
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.13
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
375000
opad Vesting Of Early Exercised Stock Options
VestingOfEarlyExercisedStockOptions
171000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
-132556000
CY2021Q3 opad Vesting Of Early Exercised Stock Options
VestingOfEarlyExercisedStockOptions
64000
CY2021Q3 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
184123000
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
184123000
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
206347000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2316000
us-gaap Net Income Loss
NetIncomeLoss
-6346000
CY2021Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0
opad Impairment Of Inventory
ImpairmentOfInventory
1342000
opad Impairment Of Inventory
ImpairmentOfInventory
2971000
us-gaap Share Based Compensation
ShareBasedCompensation
2316000
us-gaap Share Based Compensation
ShareBasedCompensation
875000
CY2021Q3 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
206347000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1053000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-15303000
CY2021Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
243728000
CY2019Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
154300000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
-121503000
opad Issuance Of Series C Stock Net Of Offering Costs
IssuanceOfSeriesCStockNetOfOfferingCosts
29823000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
875000
us-gaap Net Income Loss
NetIncomeLoss
-21799000
CY2020Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
184123000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
-142427000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
115985000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57865000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78191000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57865000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
115985000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57865000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78191000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57865000
CY2021Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
184123000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
243728000
CY2020Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
184123000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
-139820000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
337000
CY2020Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
184123000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
-142427000
CY2020Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
184123000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-143258000
us-gaap Profit Loss
ProfitLoss
-6346000
us-gaap Profit Loss
ProfitLoss
-21799000
us-gaap Depreciation
Depreciation
433000
us-gaap Depreciation
Depreciation
308000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
246000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
454000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
304000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
13185000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
7717000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
1472000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
721979000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-214080000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
7174000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
555000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3857000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
439000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
17063000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
685000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-704812000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
195836000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
633000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
802305000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-186169000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
13609000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
67000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2032000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-11577000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-67000
opad Proceeds From Business Combination
ProceedsFromBusinessCombination
284011000
opad Proceeds From Business Combination
ProceedsFromBusinessCombination
0
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
-51249000
opad Borrowings From Credit Facilities And Notes Payable
BorrowingsFromCreditFacilitiesAndNotesPayable
1702702000
opad Borrowings From Credit Facilities And Notes Payable
BorrowingsFromCreditFacilitiesAndNotesPayable
556627000
opad Repayments Of Credit Facilities And Notes Payable
RepaymentsOfCreditFacilitiesAndNotesPayable
1130563000
opad Repayments Of Credit Facilities And Notes Payable
RepaymentsOfCreditFacilitiesAndNotesPayable
772021000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
3229000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
598000
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
29823000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
85916000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
9600000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
50742000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29883000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
136658000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39483000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
116634000
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35948000
CY2021Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
20024000
CY2020Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
3535000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
136658000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39483000
us-gaap Interest Paid Net
InterestPaidNet
9630000
us-gaap Interest Paid Net
InterestPaidNet
11890000
opad Transfer Of Property And Equipment Net To Inventory
TransferOfPropertyAndEquipmentNetToInventory
10065000
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
26525000
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
184123000
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-left:4.0%;text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;">Use of Estimates</span></p><p style="margin-left:4.0%;text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements. Significant estimates include those related to the net realizable value of inventory, warrant liabilities, stock-based compensation, and deferred income tax allowances, among others. Actual results could differ from those estimates.</span></p>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-left:4.0%;text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;">Concentrations of Credit Risk</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="margin-left:4.0%;text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Financial instruments that are potentially subject to concentrations of credit risk are primarily cash and cash equivalents. Cash and cash equivalents are placed with major financial institutions deemed to be of high-credit-quality in order to limit credit exposure. Cash is regularly maintained in excess of federally insured limits at the financial institutions. Management believes that the Company is not exposed to any significant credit risk related to cash deposits.</span></p>
CY2021Q3 us-gaap Inventory Write Down
InventoryWriteDown
1000000.0
CY2020Q3 us-gaap Inventory Write Down
InventoryWriteDown
100000
us-gaap Inventory Write Down
InventoryWriteDown
1300000
us-gaap Inventory Write Down
InventoryWriteDown
3000000.0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2021Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2020Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Derivatives Methods Of Accounting Nonhedging Derivatives
DerivativesMethodsOfAccountingNonhedgingDerivatives
<p style="margin-left:4.0%;text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;">Warrant Liabilities</span></p><p style="margin-left:4.0%;text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The Company evaluates its financial instruments, including its outstanding warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. The Company has outstanding public and private warrants, both of which do not meet the criteria for equity classification and are accounted for as liabilities. </span><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Accordingly, the Company recognizes the warrants as liabilities at fair value and adjusts the warrants to fair value at each reporting period. The warrant liabilities are subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s unaudited condensed consolidated statement of operations.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="margin-left:4.0%;text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:left;"><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The fair value of the public warrants is estimated based on the quoted market price of such warrants. The fair value of the private warrants is estimated using the </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Black-Scholes-Merton option-pricing model</span><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">.</span></p>
us-gaap Revenue Recognition Accounting Policy Gross And Net Revenue Disclosure
RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure
<p style="margin-left:4.0%;text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;">Revenue Recognition</span></p><p style="margin-left:4.0%;text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Revenue is recognized when (or as) performance obligations are satisfied by transferring control of the promised products or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those products or services. The Company applies the following steps in determining the timing and amount of revenue to recognize: (1) identify the contract with our customer; (2) identify the performance obligation(s) in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract, if applicable; and (5) recognize revenue when (or as) the performance obligation is satisfied.</span></p><p style="margin-left:4.0%;text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.667%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Revenue from the sale of homes is derived from the resale of homes on the open market. Home sales revenue is recognized at the time of the closing when title to and possession of the property are transferred to the buyer. The amount of revenue recognized for each home sale is equal to the sale price of the home net of resale concessions and credits to the buyer.</span></p>
CY2021Q3 us-gaap Advertising Expense
AdvertisingExpense
13300000
CY2020Q3 us-gaap Advertising Expense
AdvertisingExpense
3500000
us-gaap Advertising Expense
AdvertisingExpense
32200000
us-gaap Advertising Expense
AdvertisingExpense
8200000
CY2021Q3 opad Notes And Loans Payable Related Parties Current
NotesAndLoansPayableRelatedPartiesCurrent
241208000
CY2020Q4 opad Notes And Loans Payable Related Parties Current
NotesAndLoansPayableRelatedPartiesCurrent
126825000
CY2021Q3 opad Proceeds From Business Combination
ProceedsFromBusinessCombination
284000000.0
CY2021Q3 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
51200000
CY2021Q3 us-gaap Repayments Of Debt
RepaymentsOfDebt
63400000
CY2021Q3 us-gaap Inventory Homes Under Construction
InventoryHomesUnderConstruction
305622000
CY2020Q4 us-gaap Inventory Homes Under Construction
InventoryHomesUnderConstruction
47978000
CY2021Q3 us-gaap Inventory Finished Homes
InventoryFinishedHomes
307658000
CY2020Q4 us-gaap Inventory Finished Homes
InventoryFinishedHomes
30826000
CY2021Q3 opad Inventory Homes Under Contract To Sell
InventoryHomesUnderContractToSell
288782000
CY2020Q4 opad Inventory Homes Under Contract To Sell
InventoryHomesUnderContractToSell
92555000
CY2021Q3 us-gaap Inventory Operative Builders
InventoryOperativeBuilders
902062000
CY2020Q4 us-gaap Inventory Operative Builders
InventoryOperativeBuilders
171359000
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10936000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9286000
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1380000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1055000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9556000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8231000
CY2021Q3 us-gaap Depreciation
Depreciation
100000
CY2020Q3 us-gaap Depreciation
Depreciation
100000
us-gaap Depreciation
Depreciation
400000
us-gaap Depreciation
Depreciation
300000
CY2021Q3 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
12098000
CY2020Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
6180000
CY2021Q3 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
5819000
CY2020Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
1035000
CY2021Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
5482000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
314000
CY2021Q3 us-gaap Interest Payable Current
InterestPayableCurrent
2421000
CY2020Q4 us-gaap Interest Payable Current
InterestPayableCurrent
699000
CY2021Q3 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
1510000
CY2020Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
1250000
CY2021Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1024000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1703000
CY2021Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
28354000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
11181000
CY2021Q3 us-gaap Secured Debt Other
SecuredDebtOther
59788000
CY2020Q4 us-gaap Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
2385000
CY2020Q4 us-gaap Other Notes Payable
OtherNotesPayable
5309000
CY2021Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2983000
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
208000
CY2021Q3 us-gaap Notes And Loans Payable
NotesAndLoansPayable
751041000
CY2020Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
181678000
CY2021Q3 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
509833000
CY2020Q4 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
50143000
CY2021Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q4 opad Share Based Compensation Arrangement By Share Based Payment Award Shares Converted Due To Business Combination
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesConvertedDueToBusinessCombination
27591000
CY2020Q4 opad Share Based Compensation Arrangement By Share Based Payment Award Shares Converted Due To Business Combination Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesConvertedDueToBusinessCombinationWeightedAverageExercisePrice
0.68
CY2020 opad Share Based Compensation Arrangement By Share Based Payment Award Shares Converted Due To Business Combination Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesConvertedDueToBusinessCombinationWeightedAverageRemainingContractualTerm
P7Y4M24D
CY2020Q4 us-gaap Long Term Notes And Loans
LongTermNotesAndLoans
4710000
CY2021Q3 us-gaap Notes And Loans Payable
NotesAndLoansPayable
751041000
CY2020Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
181678000
CY2021Q3 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
1025000000
us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
613027000
CY2020Q4 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
425000000
CY2020 us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
154941000
opad Number Of Facilities
NumberOfFacilities
3
CY2021Q3 opad Class Of Warrant Or Right Exercised
ClassOfWarrantOrRightExercised
0
opad Warrantsexpirationperiodaftercompletionofbusinesscombinationorearlieruponredemptionorliquidationdate
Warrantsexpirationperiodaftercompletionofbusinesscombinationorearlieruponredemptionorliquidationdate
2026-09-01
CY2021Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
2370000000
CY2021Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3663000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.09
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M24D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
14619000
opad Share Based Compensation Arrangement By Share Based Payment Award Options Retroactive Conversion Of Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsRetroactiveConversionOfShares
23928000
opad Share Based Compensation Arrangement By Share Based Payment Award Options Retroactive Conversion Of Shares Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsRetroactiveConversionOfSharesWeightedAverageExercisePrice
-4.41
CY2020Q4 opad Share Based Compensation Arrangement By Share Based Payment Award Shares Converted Due To Business Combination Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesConvertedDueToBusinessCombinationAggregateIntrinsicValue
14619000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1559000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.22
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1795000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.35
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
703000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.65
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
26652000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.73
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y1M2D
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
145943000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
17941000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.58
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y4M17D
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
78143000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
26652000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
0.73
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y1M2D
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
145943000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q3 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
1000000.0
CY2020Q3 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
400000
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
2300000
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
900000
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
4300000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-15303000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-2944000
us-gaap Net Income Loss
NetIncomeLoss
-6346000
us-gaap Net Income Loss
NetIncomeLoss
-21799000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
115985000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57865000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78191000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57865000
CY2021Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0
CY2020Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
us-gaap Dilutive Securities
DilutiveSecurities
0
us-gaap Dilutive Securities
DilutiveSecurities
0
CY2021Q3 us-gaap Dilutive Securities
DilutiveSecurities
0
CY2021Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0
CY2020Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
115985000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57865000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78191000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57865000
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.38
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.13
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.38
CY2020Q3 us-gaap Dilutive Securities
DilutiveSecurities
0
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.005
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.028
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
34000000.0
CY2019Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
3764606000
CY2020Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
3764606000
CY2019Q1 opad Preferred Stock Shares Sold
PreferredStockSharesSold
501947000
CY2020Q1 opad Preferred Stock Shares Sold
PreferredStockSharesSold
501947000
CY2019Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
85000000.0
CY2020Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
85000000.0
CY2021Q3 us-gaap Related Party Costs
RelatedPartyCosts
182000
CY2020Q3 us-gaap Related Party Costs
RelatedPartyCosts
145000
us-gaap Related Party Costs
RelatedPartyCosts
971000
us-gaap Related Party Costs
RelatedPartyCosts
492000
CY2021Q3 opad Contractual Obligation To Purchase Home
ContractualObligationToPurchaseHome
415
CY2021Q3 us-gaap Contractual Obligation
ContractualObligation
140000000.0
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1615000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2193000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1749000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1379000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
625000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
144000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7705000

Files In Submission

Name View Source Status
0000950170-21-004154-index-headers.html Edgar Link pending
0000950170-21-004154-index.html Edgar Link pending
0000950170-21-004154.txt Edgar Link pending
0000950170-21-004154-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
img220788364_0.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
opad-20210930.htm Edgar Link pending
opad-20210930.xsd Edgar Link pending
opad-20210930_cal.xml Edgar Link unprocessable
opad-20210930_def.xml Edgar Link unprocessable
opad-20210930_htm.xml Edgar Link completed
opad-20210930_lab.xml Edgar Link unprocessable
opad-20210930_pre.xml Edgar Link unprocessable
opad-ex10_7.htm Edgar Link pending
opad-ex31_1.htm Edgar Link pending
opad-ex31_2.htm Edgar Link pending
opad-ex32_1.htm Edgar Link pending
opad-ex32_2.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending