Offerpad Customer Satisfaction and Business Performance
NON-GAAP RECONCILIATIONS CONT.
Offerpad.
(in thousands, except percentages and homes sold, unaudited)
Gross profit (GAAP)
Gross margin
Homes sold
Gross profit per home sold
Adjustments:
Inventory valuation adjustment - current period
(1)
Inventory valuation adjustment - prior period
(2)
Interest expense capitalized (3)
Adjusted (loss) gross profit
Adjusted gross margin
Adjustments:
Direct selling costs
(4)
Holding costs on sales - current period
(5)(6)
Holding costs on sales - prior period
(5)(7)
Other income, net
(8)
Contribution (loss) profit
Contribution margin
Homes sold
Contribution (loss) profit per home sold
Adjustments:
Interest expense capitalized
(3)
Interest expense on homes sold - current period
(9)
Interest expense on homes sold - prior period
(10)
Contribution (loss) profit after interest
Contribution margin after interest
Homes sold
Contribution (loss) profit after interest per home sold
Three Months Ended
June 30, 2023
Acquired Aug'22 & Prior
Acquired Sep'22 & Later Cohort
Total
$
329.00
$
0.5%
21,902.00
13.5%
$
22,231.00
9.7%
159
491
650
2.1
44.6
$
34.2
105
64
169
(11,990)
(1,689)
669
689
(13,679)
1,358
$
(10,887)
-16.0%
$
20,966
$
10,079
12.9%
4.4%
(1,790)
(3,953)
(5,743)
(93)
(176)
(269)
(467)
(100)
(567)
965
965
(13,237)
17,702
4,465
-19.5%
10.9%
1.9%
159
491
650
(83.3)
$
36.1
$
6.9
(669)
(689)
(1,358)
(397)
(895)
(1,292)
(2,962)
(746)
(3,708)
$
(17,265)
-25.4%
159
$
15,372
$
(1,893)
9.5%
-0.8%
491
650
(108.6)
$
31.3
$
(2.9)
Note: Current period represents adjustments for costs incurred on homes sold in the period presented and prior periods represents adjustments for
costs incurred in prior periods on homes sold in the period presented. Numbers may not total due to rounding.
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