$OPAD
Offerpad Solutions Inc.

2022 Q1 Form 10-Q Financial Statement

#000095017022007428 Filed on May 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $1.374B $284.0M
YoY Change 383.79% -22.76%
Cost Of Revenue $1.242B $250.4M
YoY Change 395.82%
Gross Profit $132.1M $33.54M
YoY Change 294.02% 34.7%
Gross Profit Margin 9.62% 11.81%
Selling, General & Admin $84.55M $29.81M
YoY Change 183.61%
% of Gross Profit 63.98% 88.89%
Research & Development $3.182M $2.283M
YoY Change 39.38%
% of Gross Profit 2.41% 6.81%
Depreciation & Amortization $100.0K $100.0K
YoY Change 0.0%
% of Gross Profit 0.08% 0.3%
Operating Expenses $87.73M $32.09M
YoY Change 173.35%
Operating Profit $44.42M $1.444M
YoY Change 2975.83% -120.57%
Interest Expense $7.196M $1.918M
YoY Change 275.18%
% of Operating Profit 16.2% 132.83%
Other Income/Expense, Net -$1.528M -$1.677M
YoY Change -8.88%
Pretax Income $42.89M -$233.0K
YoY Change -18506.44%
Income Tax $1.899M $0.00
% Of Pretax Income 4.43%
Net Earnings $40.99M -$233.0K
YoY Change -17691.42% -97.97%
Net Earnings / Revenue 2.98% -0.08%
Basic Earnings Per Share $0.17 $0.00
Diluted Earnings Per Share $0.16 $0.00
COMMON SHARES
Basic Shares Outstanding 240.1M 58.57M
Diluted Shares Outstanding 259.6M 58.57M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $198.2M $760.5K
YoY Change 25956.09%
Cash & Equivalents $198.2M $26.41M
Short-Term Investments
Other Short-Term Assets $47.60M $358.2K
YoY Change 13187.27%
Inventory $871.5M
Prepaid Expenses $339.0K
Receivables $21.80M
Other Receivables $0.00
Total Short-Term Assets $1.139B $1.119M
YoY Change 101717.13%
LONG-TERM ASSETS
Property, Plant & Equipment $5.408M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $402.7M
YoY Change
Other Assets $5.918M
YoY Change
Total Long-Term Assets $11.33M $402.7M
YoY Change -97.19%
TOTAL ASSETS
Total Short-Term Assets $1.139B $1.119M
Total Long-Term Assets $11.33M $402.7M
Total Assets $1.150B $403.8M
YoY Change 184.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.637M $82.16K
YoY Change 10412.41%
Accrued Expenses $20.47M $3.158M
YoY Change 548.25%
Deferred Revenue
YoY Change
Short-Term Debt $785.6M $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $824.1M $3.308M
YoY Change 24815.75%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.466M $55.44M
YoY Change -91.94%
Total Long-Term Liabilities $4.466M $55.44M
YoY Change -91.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $824.1M $3.308M
Total Long-Term Liabilities $4.466M $55.44M
Total Liabilities $847.0M $58.75M
YoY Change 1341.72%
SHAREHOLDERS EQUITY
Retained Earnings -$91.07M -$20.22M
YoY Change 350.47%
Common Stock $25.21M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $303.4M -$142.6M
YoY Change
Total Liabilities & Shareholders Equity $1.150B $403.8M
YoY Change 184.9%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $40.99M -$233.0K
YoY Change -17691.42% -97.97%
Depreciation, Depletion And Amortization $100.0K $100.0K
YoY Change 0.0%
Cash From Operating Activities $279.8M -$48.11M
YoY Change -681.62%
INVESTING ACTIVITIES
Capital Expenditures $381.0K $990.0K
YoY Change -61.52%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$381.0K $1.042M
YoY Change -136.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -238.1M 25.39M
YoY Change -1037.93%
NET CHANGE
Cash From Operating Activities 279.8M -48.11M
Cash From Investing Activities -381.0K 1.042M
Cash From Financing Activities -238.1M 25.39M
Net Change In Cash 41.33M -21.68M
YoY Change -290.6%
FREE CASH FLOW
Cash From Operating Activities $279.8M -$48.11M
Capital Expenditures $381.0K $990.0K
Free Cash Flow $279.4M -$49.10M
YoY Change -669.11%

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CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-left:2.667%;text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;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;min-width:fit-content;">Use of Estimates</span></p><p style="margin-left:2.667%;text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;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;min-width:fit-content;">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 and warrant liabilities, among others. Actual results could differ from those estimates.</span></p>
CY2022Q1 us-gaap Inventory Write Down
InventoryWriteDown
1000000.0
CY2021Q1 us-gaap Inventory Write Down
InventoryWriteDown
100000
CY2021Q3 opad Proceeds From Business Combination
ProceedsFromBusinessCombination
284000000.0
CY2022Q1 us-gaap Inventory Real Estate Construction In Process
InventoryRealEstateConstructionInProcess
304495000
CY2021Q4 us-gaap Inventory Real Estate Construction In Process
InventoryRealEstateConstructionInProcess
327455000
CY2022Q1 us-gaap Inventory Finished Homes
InventoryFinishedHomes
202602000
CY2021Q4 us-gaap Inventory Finished Homes
InventoryFinishedHomes
400308000
CY2022Q1 opad Inventory Homes Under Contract To Sell
InventoryHomesUnderContractToSell
364414000
CY2021Q4 opad Inventory Homes Under Contract To Sell
InventoryHomesUnderContractToSell
404808000
CY2022Q1 us-gaap Inventory Net
InventoryNet
871511000
CY2021Q4 us-gaap Inventory Net
InventoryNet
1132571000
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6996000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6615000
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1588000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1469000
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5408000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5146000
CY2022Q1 us-gaap Depreciation
Depreciation
100000
CY2021Q1 us-gaap Depreciation
Depreciation
100000
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000
CY2021Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y4M24D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y6M
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.040
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.041
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1431000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2015000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1981000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
854000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
269000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
79000
CY2022Q1 opad Lesseeoperatingleaseliabilitypaymentsdueyearsix
Lesseeoperatingleaseliabilitypaymentsdueyearsix
0
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
6629000
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
435000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
6194000
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5730000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4784000
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1728000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1345000
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4466000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3830000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
6194000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
5175000
CY2022Q1 opad Accrued Home Renovation Payable Current
AccruedHomeRenovationPayableCurrent
8385000
CY2021Q4 opad Accrued Home Renovation Payable Current
AccruedHomeRenovationPayableCurrent
8540000
CY2022Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7755000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
12836000
CY2022Q1 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
7483000
CY2021Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
5795000
CY2022Q1 us-gaap Interest Payable Current
InterestPayableCurrent
2606000
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
3537000
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1728000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1345000
CY2022Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1261000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1743000
CY2022Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
699000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1231000
CY2022Q1 opad Accrued And Other Current Liabilities
AccruedAndOtherCurrentLiabilities
29917000
CY2021Q4 opad Accrued And Other Current Liabilities
AccruedAndOtherCurrentLiabilities
35027000
CY2022Q1 us-gaap Advertising Expense
AdvertisingExpense
14700000
CY2021Q1 us-gaap Advertising Expense
AdvertisingExpense
7400000
CY2022Q1 us-gaap Secured Debt Other
SecuredDebtOther
6474000
CY2021Q4 us-gaap Secured Debt Other
SecuredDebtOther
33320000
CY2022Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6241000
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6923000
CY2022Q1 us-gaap Notes And Loans Payable
NotesAndLoansPayable
785551000
CY2021Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
1026196000
CY2022Q1 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
725809000
CY2021Q4 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
861762000
CY2022Q1 opad Notes And Loans Payable Related Parties Current
NotesAndLoansPayableRelatedPartiesCurrent
59742000
CY2021Q4 opad Notes And Loans Payable Related Parties Current
NotesAndLoansPayableRelatedPartiesCurrent
164434000
CY2022Q1 us-gaap Notes And Loans Payable
NotesAndLoansPayable
785551000
CY2021Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
1026196000
CY2022Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1385000000
CY2022Q1 us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
650570000
CY2021Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1385000000
CY2021 us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
829440000
CY2022Q1 opad Number Of Facilities
NumberOfFacilities
4
CY2022Q1 opad Class Of Warrant Or Right Exercised
ClassOfWarrantOrRightExercised
0
CY2022Q1 opad Warrantsexpirationperiodaftercompletionofbusinesscombinationorearlieruponredemptionorliquidationdate
Warrantsexpirationperiodaftercompletionofbusinesscombinationorearlieruponredemptionorliquidationdate
2026-09-01
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
949000
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.11
CY2022Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
2370000000
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000
CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
25576000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.73
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y9M25D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
137170000
CY2022Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
5823000
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.50
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
265000
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
1.17
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
20437000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.00
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y7M17D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
82470000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
14023000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.68
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y9M29D
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
60983000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
20437000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
1.00
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y7M17D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
82470000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0163
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.578
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
5.11
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
5400000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1628000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
614000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
40988000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-233000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
240120000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58567000
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
19487000
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2022Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0
CY2021Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0
CY2022Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0
CY2021Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
259607000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58567000
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.17
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.16
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2022Q1 us-gaap Dilutive Securities
DilutiveSecurities
0
CY2021Q1 us-gaap Dilutive Securities
DilutiveSecurities
0
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.044
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.050
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
33300000
CY2022Q1 us-gaap Related Party Costs
RelatedPartyCosts
619000
CY2021Q1 us-gaap Related Party Costs
RelatedPartyCosts
498000
CY2022Q1 opad Contractual Obligation To Purchase Home
ContractualObligationToPurchaseHome
2975
CY2022Q1 us-gaap Contractual Obligation
ContractualObligation
1005400000

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