Offerpad Customer Satisfaction and Business Performance
NON-GAAP RECONCILIATIONS CONT.
(in thousands, except percentages, unaudited)
Net (loss) income (GAAP)
Change in fair value of warrant liabilities
Adjusted net (loss) income
Adjusted net (loss) income margin
Adjustments:
Interest expense
Amortization of capitalized interest (1)
Income tax expense
Depreciation and amortization
Amortization of stock-based compensation
Adjusted EBITDA
Adjusted EBITDA margin
Offerpad.
$
June 30, 2023
(22,344)
$
March 31, 2023
(59,447)
Three Months Ended
December 31, 2022
September 30, 2022
June 30, 2022
$
(121,137)
$
(435)
389
(3,360)
(80,022)
(1,961)
$
11,558
(12,537)
$
(22,779)
$
(59,058)
(124,497)
(81,983) $
(979)
(9.9%)
(9.7%)
(18.4%)
(10.0%)
(0.1%)
1,867
7,432
15,135
15,889
7,771
1,358
4,677
3,081
2,508
2,793
43
122
324
(3,474)
1,610
178
202
258
515
130
2,055
(17,278)
(7.5%)
1,843
(44,782)
(7.3%)
2,014
(103,685)
(15.3%)
2,265
(64,280)
(7.8%)
2,400
13,725
1.3%
1 Amortization of capitalized interest represents all interest related costs, including senior and mezzanine interest related costs, incurred on homes sold in the period
presented that were capitalized and expensed in cost of sales at the time of sale.
Note: Numbers may not total due to rounding.
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