$OPAD
Offerpad Solutions Inc

2024 Q1 Form 10-K Financial Statement

#000095017024021141 Filed on February 27, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $285.4M $240.5M $1.314B
YoY Change -53.19% -64.49% -66.74%
Cost Of Revenue $262.8M $223.8M $1.244B
YoY Change -56.37% -66.99% -67.0%
Gross Profit $22.60M $16.69M $70.18M
YoY Change 210.16% -2296.32% -61.53%
Gross Profit Margin 7.92% 6.94% 5.34%
Selling, General & Admin $34.41M $26.71M $166.6M
YoY Change -39.46% -56.97% -44.01%
% of Gross Profit 152.28% 160.0% 237.46%
Research & Development $1.773M $1.236M $7.945M
YoY Change -20.88% -58.5% -34.28%
% of Gross Profit 7.85% 7.4% 11.32%
Depreciation & Amortization $200.0K $172.0K $700.0K
YoY Change 0.0% -33.33% -31.51%
% of Gross Profit 0.89% 1.03% 1.0%
Operating Expenses $36.18M $27.94M $174.6M
YoY Change -38.75% -57.04% -43.63%
Operating Profit -$13.59M -$11.25M -$104.4M
YoY Change -73.77% -82.9% -17.99%
Interest Expense $4.905M -$5.154M $18.86M
YoY Change -34.0% -65.95% -58.99%
% of Operating Profit
Other Income/Expense, Net -$3.807M $956.0K -$12.64M
YoY Change -49.5% -77.35% -39.62%
Pretax Income -$17.39M -$15.45M -$117.1M
YoY Change -70.68% -87.21% -21.04%
Income Tax $123.0K -$8.000K $163.0K
% Of Pretax Income
Net Earnings -$17.52M -$15.44M -$117.2M
YoY Change -70.54% -87.25% -21.13%
Net Earnings / Revenue -6.14% -6.42% -8.92%
Basic Earnings Per Share -$0.64 -$4.44
Diluted Earnings Per Share -$0.64 -$0.57 -$4.44
COMMON SHARES
Basic Shares Outstanding 27.29M 26.39M
Diluted Shares Outstanding 27.34M 26.39M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $68.55M $75.97M $75.97M
YoY Change -36.37% -21.88% -21.88%
Cash & Equivalents $68.55M $75.97M
Short-Term Investments
Other Short-Term Assets $14.34M $9.203M $9.203M
YoY Change -68.09% -81.55% -81.55%
Inventory $266.1M $276.5M $276.5M
Prepaid Expenses
Receivables $4.347M $9.935M $9.935M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $353.3M $371.6M $371.6M
YoY Change 7.82% -54.36% -54.36%
LONG-TERM ASSETS
Property, Plant & Equipment $4.679M $4.517M $7.855M
YoY Change -7.66% -13.03% -26.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.71M $3.572M $234.0K
YoY Change 126.4% -37.29% 3.08%
Total Long-Term Assets $16.39M $8.089M $8.089M
YoY Change 60.05% -25.72% -25.72%
TOTAL ASSETS
Total Short-Term Assets $353.3M $371.6M $371.6M
Total Long-Term Assets $16.39M $8.089M $8.089M
Total Assets $369.7M $379.7M $379.7M
YoY Change 9.4% -53.98% -53.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.378M $4.946M $4.946M
YoY Change -0.93% 6.43% 6.43%
Accrued Expenses $13.17M $13.86M $13.86M
YoY Change -36.61% -50.95% -50.95%
Deferred Revenue
YoY Change
Short-Term Debt $254.6M $257.2M $257.2M
YoY Change 64.03% -61.38% -61.38%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $272.1M $276.0M $276.0M
YoY Change 50.85% -60.51% -60.51%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $9.349M $1.418M $1.889M
YoY Change 200.61% -61.56% -55.32%
Total Long-Term Liabilities $9.349M $1.418M $1.889M
YoY Change 200.61% -61.56% -55.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $272.1M $276.0M $276.0M
Total Long-Term Liabilities $9.349M $1.418M $1.889M
Total Liabilities $281.6M $277.9M $277.9M
YoY Change 52.68% -60.48% -60.48%
SHAREHOLDERS EQUITY
Retained Earnings -$415.4M -$397.9M
YoY Change 22.14% 41.76%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $88.10M $101.8M $101.8M
YoY Change
Total Liabilities & Shareholders Equity $369.7M $379.7M $379.7M
YoY Change 9.4% -53.98% -53.98%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$17.52M -$15.44M -$117.2M
YoY Change -70.54% -87.25% -21.13%
Depreciation, Depletion And Amortization $200.0K $172.0K $700.0K
YoY Change 0.0% -33.33% -31.51%
Cash From Operating Activities $2.386M -$15.32M $261.6M
YoY Change -99.44% -103.86% -14.33%
INVESTING ACTIVITIES
Capital Expenditures $353.0K $37.00K $127.0K
YoY Change 370.67% -75.82% -88.13%
Acquisitions
YoY Change
Other Investing Activities $30.00K $1.700M $2.112M
YoY Change -102.48%
Cash From Investing Activities -$323.0K $1.663M $1.985M
YoY Change -74.9% -1186.93% -285.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.464M -19.81M -324.0M
YoY Change -99.18% -95.88% -9.62%
NET CHANGE
Cash From Operating Activities 2.386M -15.32M 261.6M
Cash From Investing Activities -323.0K 1.663M 1.985M
Cash From Financing Activities -3.464M -19.81M -324.0M
Net Change In Cash -1.401M -33.47M -60.37M
YoY Change -152.91% -59.85% 11.51%
FREE CASH FLOW
Cash From Operating Activities $2.386M -$15.32M $261.6M
Capital Expenditures $353.0K $37.00K $127.0K
Free Cash Flow $2.033M -$15.36M $261.5M
YoY Change -99.52% -103.87% -14.07%

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CY2022 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-23522000
CY2021 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-2464000
CY2023 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
2124000
CY2022 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
0
CY2021 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
0
CY2023 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-76000
CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0
CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
246000
CY2023 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
7585000
CY2022 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-3815000
CY2021 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
3845000
CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-379260000
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-374064000
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
949591000
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-3733000
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
275000
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5288000
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
299000
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1752000
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4130000
CY2023 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-16664000
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-4402000
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
21563000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
261632000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
305402000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-921920000
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
127000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1070000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
13687000
CY2023 us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
2569000
CY2022 us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
0
CY2021 us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
0
CY2023 us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
4681000
CY2022 us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
0
CY2021 us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
0
CY2023 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0
CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0
CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2032000
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1985000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1070000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-11655000
CY2023 opad Borrowings From Credit Facilities And Notes Payable
BorrowingsFromCreditFacilitiesAndNotesPayable
875559000
CY2022 opad Borrowings From Credit Facilities And Notes Payable
BorrowingsFromCreditFacilitiesAndNotesPayable
3178033000
CY2021 opad Borrowings From Credit Facilities And Notes Payable
BorrowingsFromCreditFacilitiesAndNotesPayable
2764071000
CY2023 opad Repayments Of Credit Facilities And Notes Payable
RepaymentsOfCreditFacilitiesAndNotesPayable
1286795000
CY2022 opad Repayments Of Credit Facilities And Notes Payable
RepaymentsOfCreditFacilitiesAndNotesPayable
3540466000
CY2021 opad Repayments Of Credit Facilities And Notes Payable
RepaymentsOfCreditFacilitiesAndNotesPayable
1912837000
CY2023 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1948000
CY2022 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
646000
CY2021 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
7632000
CY2023 opad Borrowings From Warehouse Lending Facility
BorrowingsFromWarehouseLendingFacility
25193000
CY2022 opad Borrowings From Warehouse Lending Facility
BorrowingsFromWarehouseLendingFacility
0
CY2021 opad Borrowings From Warehouse Lending Facility
BorrowingsFromWarehouseLendingFacility
0
CY2023 opad Repayments Of Warehouse Lending Facility
RepaymentsOfWarehouseLendingFacility
25193000
CY2022 opad Repayments Of Warehouse Lending Facility
RepaymentsOfWarehouseLendingFacility
0
CY2021 opad Repayments Of Warehouse Lending Facility
RepaymentsOfWarehouseLendingFacility
0
CY2023 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
90000000
CY2022 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
0
CY2021 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
0
CY2023 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
11000
CY2022 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0
CY2021 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0
CY2023 opad Issuance Cost Of Pre Funded Warrants
IssuanceCostOfPreFundedWarrants
784000
CY2022 opad Issuance Cost Of Pre Funded Warrants
IssuanceCostOfPreFundedWarrants
0
CY2021 opad Issuance Cost Of Pre Funded Warrants
IssuanceCostOfPreFundedWarrants
0
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
53000
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4898000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
902000
CY2023 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
78000
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
285000
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0
CY2023 opad Proceeds From Business Combination
ProceedsFromBusinessCombination
0
CY2022 opad Proceeds From Business Combination
ProceedsFromBusinessCombination
0
CY2021 opad Proceeds From Business Combination
ProceedsFromBusinessCombination
284011000
CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
-51249000
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-323982000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-358466000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1077266000
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-60365000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-54134000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
143691000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
140299000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
194433000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
50742000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
79934000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
140299000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
194433000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
75967000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
97241000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
169817000
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
3967000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
43058000
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
24616000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
79934000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
140299000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
194433000
CY2023 us-gaap Interest Paid Net
InterestPaidNet
24730000
CY2022 us-gaap Interest Paid Net
InterestPaidNet
59732000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
21875000
CY2023 opad Transfer Of Property And Equipment Net To Inventory
TransferOfPropertyAndEquipmentNetToInventory
0
CY2022 opad Transfer Of Property And Equipment Net To Inventory
TransferOfPropertyAndEquipmentNetToInventory
0
CY2021 opad Transfer Of Property And Equipment Net To Inventory
TransferOfPropertyAndEquipmentNetToInventory
14464000
CY2023 us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
0
CY2022 us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
0
CY2021 us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
26525000
CY2023 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
0
CY2022 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
0
CY2021 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
184123000
CY2023 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
As a result of the Reverse Stock Split, every 15 shares of the Company’s Common Stock issued and outstanding as of the effective time of the Reverse Stock Split were automatically converted into one share of Common Stock.
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-left:2.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;margin-right:2.667%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="margin-left:2.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;margin-right:2.667%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the Company’s 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 consolidated financial statements. Significant estimates include those related to the net realizable value of real estate inventory, among others. Actual results could differ from those estimates.</span></p>
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-left:2.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;margin-right:2.667%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentrations of Credit Risk</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="margin-left:2.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;margin-right:2.667%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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>
CY2023 us-gaap Inventory Write Down
InventoryWriteDown
8900000
CY2022 us-gaap Inventory Write Down
InventoryWriteDown
93800000
CY2021 us-gaap Inventory Write Down
InventoryWriteDown
2800000
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2023 us-gaap Derivatives Methods Of Accounting Nonhedging Derivatives
DerivativesMethodsOfAccountingNonhedgingDerivatives
<p style="margin-left:2.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;margin-right:2.667%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Warrant Liabilities</span></p><p style="margin-left:2.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;margin-right:2.667%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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. 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 or expired, and any change in fair value is recognized in the Company’s consolidated statements of operations.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="margin-left:2.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;margin-right:2.667%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The fair value of the public warrants is estimated based on the quoted market price of such warrants on the valuation date. The fair value of the private warrants is generally estimated using the Black-Scholes-Merton option-pricing model. Refer to </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Note 9. Warrant Liabilities,</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> for further details.</span></p>
CY2023 us-gaap Revenue Recognition Accounting Policy Gross And Net Revenue Disclosure
RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure
<p style="margin-left:2.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;margin-right:2.667%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Revenue Recognition</span></p><p style="margin-left:2.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;margin-right:2.667%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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:2.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;margin-right:2.667%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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 transaction 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>
CY2023 us-gaap Advertising Expense
AdvertisingExpense
30900000
CY2022 us-gaap Advertising Expense
AdvertisingExpense
46500000
CY2021 us-gaap Advertising Expense
AdvertisingExpense
45300000
CY2022 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
1
CY2022 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.025
CY2023 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1000000
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1600000
CY2021Q3 opad Proceeds From Business Combination
ProceedsFromBusinessCombination
284000000
CY2021Q3 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
51200000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7725000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7685000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3208000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2491000
CY2023Q4 us-gaap Inventory Real Estate Construction In Process
InventoryRealEstateConstructionInProcess
53116000
CY2022Q4 us-gaap Inventory Real Estate Construction In Process
InventoryRealEstateConstructionInProcess
54499000
CY2023Q4 us-gaap Inventory Finished Homes
InventoryFinishedHomes
148648000
CY2022Q4 us-gaap Inventory Finished Homes
InventoryFinishedHomes
440862000
CY2023Q4 opad Inventory Homes Under Contract To Sell
InventoryHomesUnderContractToSell
74736000
CY2022Q4 opad Inventory Homes Under Contract To Sell
InventoryHomesUnderContractToSell
169336000
CY2023Q4 us-gaap Inventory Net
InventoryNet
276500000
CY2022Q4 us-gaap Inventory Net
InventoryNet
664697000
CY2023 opad Payment To Acquire Options
PaymentToAcquireOptions
2600000
CY2023 opad Change In Fair Value Of Derivative Instrument
ChangeInFairValueOfDerivativeInstrument
2100000
CY2022Q4 us-gaap Secured Debt Other
SecuredDebtOther
89024000
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2226000
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
4621000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4517000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5194000
CY2023 us-gaap Depreciation
Depreciation
700000
CY2022 us-gaap Depreciation
Depreciation
1000000
CY2021 us-gaap Depreciation
Depreciation
500000
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
2300000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
2100000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
1400000
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
300000
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
200000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y9M18D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y8M12D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.043
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.042
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2373000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1103000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
269000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
79000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
0
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
0
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3824000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
135000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3689000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3338000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5469000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2271000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2264000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1418000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3689000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3689000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
5953000
CY2024Q1 us-gaap Lessor Operating Lease Description
LessorOperatingLeaseDescription
commenced during January 2024 and is for an initial term of ten and a half years, with a Company option to renew for an additional five-year term.
CY2024Q1 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
15400000
CY2023Q4 opad Accrued Home Renovation Payable Current
AccruedHomeRenovationPayableCurrent
3534000
CY2022Q4 opad Accrued Home Renovation Payable Current
AccruedHomeRenovationPayableCurrent
3168000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3200000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
10670000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2271000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2264000
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
1989000
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
4360000
CY2023Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
999000
CY2022Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
4161000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
392000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1035000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1474000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2594000
CY2023Q4 opad Accrued And Other Current Liabilities
AccruedAndOtherCurrentLiabilities
13859000
CY2022Q4 opad Accrued And Other Current Liabilities
AccruedAndOtherCurrentLiabilities
28252000
CY2023Q4 us-gaap Secured Debt Other
SecuredDebtOther
0
CY2023Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
257224000
CY2022Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
666065000
CY2023Q4 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
227132000
CY2022Q4 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
605889000
CY2023Q4 opad Notes And Loans Payable Related Parties Current
NotesAndLoansPayableRelatedPartiesCurrent
30092000
CY2022Q4 opad Notes And Loans Payable Related Parties Current
NotesAndLoansPayableRelatedPartiesCurrent
60176000
CY2023Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
257224000
CY2022Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
666065000
CY2023 opad Warrantsexpirationperiodaftercompletionofbusinesscombinationorearlieruponredemptionorliquidationdate
Warrantsexpirationperiodaftercompletionofbusinesscombinationorearlieruponredemptionorliquidationdate
2026-09-01
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0
CY2023Q2 opad Shares Authorized
SharesAuthorized
2370000000
CY2023Q2 opad Shares Authorized
SharesAuthorized
2100000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-117218000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-148613000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
6460000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26385000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16343000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
100000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
35800000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
10500000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
41
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.02
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1300000
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y2M23D
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1800000
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
2100000
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
2600000
CY2023 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7915000
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
8307000
CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3079000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7905000
CY2023 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1643000
CY2023 opad Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock Units
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedStockUnits
0
CY2022 opad Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock Units
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedStockUnits
0
CY2021 opad Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock Units
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedStockUnits
0
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26385000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16343000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9548000
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.44
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-9.09
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.82
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.44
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-9.09
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.68
CY2023 us-gaap Dilutive Securities
DilutiveSecurities
0
CY2022 us-gaap Dilutive Securities
DilutiveSecurities
0
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-117100000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-148300000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
6600000
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
163000
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
359000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
170000
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
163000
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
359000
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
170000
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
163000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
359000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
170000
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-24582000
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-31133000
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1392000
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-5096000
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.044
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-7636000
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.052
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-360000
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.054
CY2023 opad Effective Income Tax Rate Reconciliation Change In Fair Value Of Warrant Liabilities
EffectiveIncomeTaxRateReconciliationChangeInFairValueOfWarrantLiabilities
-14000
CY2022 opad Effective Income Tax Rate Reconciliation Change In Fair Value Of Warrant Liabilities Percentage
EffectiveIncomeTaxRateReconciliationChangeInFairValueOfWarrantLiabilitiesPercentage
0
CY2022 opad Effective Income Tax Rate Reconciliation Change In Fair Value Of Warrant Liabilities
EffectiveIncomeTaxRateReconciliationChangeInFairValueOfWarrantLiabilities
-4940000
CY2023 opad Effective Income Tax Rate Reconciliation Change In Fair Value Of Warrant Liabilities Percentage
EffectiveIncomeTaxRateReconciliationChangeInFairValueOfWarrantLiabilitiesPercentage
0.033
CY2021 opad Effective Income Tax Rate Reconciliation Change In Fair Value Of Warrant Liabilities
EffectiveIncomeTaxRateReconciliationChangeInFairValueOfWarrantLiabilities
-517000
CY2021 opad Effective Income Tax Rate Reconciliation Change In Fair Value Of Warrant Liabilities Percentage
EffectiveIncomeTaxRateReconciliationChangeInFairValueOfWarrantLiabilitiesPercentage
-0.078
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
28980000
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.248
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
48690000
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.328
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
675000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.102
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Amortization
IncomeTaxReconciliationNondeductibleExpenseAmortization
340000
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Amortization
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseAmortization
0.003
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Amortization
IncomeTaxReconciliationNondeductibleExpenseAmortization
-2277000
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Amortization
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseAmortization
0.015
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Amortization
IncomeTaxReconciliationNondeductibleExpenseAmortization
221000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Amortization
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseAmortization
0.033
CY2023 opad Effective Income Tax Rate Reconciliation At Incentive Stock Options Amount
EffectiveIncomeTaxRateReconciliationAtIncentiveStockOptionsAmount
81000
CY2022 opad Effective Income Tax Rate Reconciliation Of Incentive Stock Options
EffectiveIncomeTaxRateReconciliationOfIncentiveStockOptions
-0
CY2022 opad Effective Income Tax Rate Reconciliation At Incentive Stock Options Amount
EffectiveIncomeTaxRateReconciliationAtIncentiveStockOptionsAmount
1091000
CY2023 opad Effective Income Tax Rate Reconciliation Of Incentive Stock Options
EffectiveIncomeTaxRateReconciliationOfIncentiveStockOptions
-0.007
CY2021 opad Effective Income Tax Rate Reconciliation At Incentive Stock Options Amount
EffectiveIncomeTaxRateReconciliationAtIncentiveStockOptionsAmount
647000
CY2021 opad Effective Income Tax Rate Reconciliation Of Incentive Stock Options
EffectiveIncomeTaxRateReconciliationOfIncentiveStockOptions
-0.098
CY2023 opad Transaction Costs
TransactionCosts
0
CY2022 opad Transaction Costs Percentage
TransactionCostsPercentage
0
CY2022 opad Transaction Costs
TransactionCosts
1874000
CY2023 opad Transaction Costs Percentage
TransactionCostsPercentage
0.013
CY2021 opad Transaction Costs
TransactionCosts
1226000
CY2021 opad Transaction Costs Percentage
TransactionCostsPercentage
0.185
CY2023 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
454000
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.004
CY2022 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
620000
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.004
CY2021 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-32000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.004
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
163000
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.001
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
359000
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.002
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
170000
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.026
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
84730000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
50178000
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
16914000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
9847000
CY2023Q4 opad Deferred Tax Assets Research And Development Expenditures
DeferredTaxAssetsResearchAndDevelopmentExpenditures
4118000
CY2022Q4 opad Deferred Tax Assets Research And Development Expenditures
DeferredTaxAssetsResearchAndDevelopmentExpenditures
3190000
CY2023Q4 opad Deferred Tax Assets Stock Based Compensation
DeferredTaxAssetsStockBasedCompensation
3503000
CY2022Q4 opad Deferred Tax Assets Stock Based Compensation
DeferredTaxAssetsStockBasedCompensation
1852000
CY2023Q4 opad Deferred Tax Assets Transaction Costs
DeferredTaxAssetsTransactionCosts
1578000
CY2022Q4 opad Deferred Tax Assets Transaction Costs
DeferredTaxAssetsTransactionCosts
1707000
CY2023Q4 opad Deferred Tax Assets Operating Lease Liabilities
DeferredTaxAssetsOperatingLeaseLiabilities
936000
CY2022Q4 opad Deferred Tax Assets Operating Lease Liabilities
DeferredTaxAssetsOperatingLeaseLiabilities
1507000
CY2023Q4 opad Deferred Tax Assets Real Estate Inventory
DeferredTaxAssetsRealEstateInventory
225000
CY2022Q4 opad Deferred Tax Assets Real Estate Inventory
DeferredTaxAssetsRealEstateInventory
14771000
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
929000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
2117000
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
112933000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
85169000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
111006000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
82026000
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
1927000
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
3143000
CY2023Q4 opad Deferred Tax Liabilities Operating Lease Right Of Use Asset
DeferredTaxLiabilitiesOperatingLeaseRightOfUseAsset
-847000
CY2022Q4 opad Deferred Tax Liabilities Operating Lease Right Of Use Asset
DeferredTaxLiabilitiesOperatingLeaseRightOfUseAsset
-1385000
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
647000
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
739000
CY2023Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
433000
CY2022Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
1019000
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
1927000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
3143000
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
29000000
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
48700000
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
700000
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
1462000
CY2022 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
1348000
CY2021 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
1182000
CY2023Q4 opad Contractual Obligation To Purchase Home
ContractualObligationToPurchaseHome
500
CY2023Q4 us-gaap Contractual Obligation
ContractualObligation
135100000
CY2023Q4 us-gaap Purchase Obligation
PurchaseObligation
7300000
CY2023Q4 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
5800000
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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