Offerpad Customer Satisfaction and Business Performance
NON-GAAP RECONCILIATIONS
(in thousands, except percentages and homes sold, unaudited)
Gross (loss) profit
Gross margin
Homes sold
Gross profit (loss) per home sold
Adjustments:
Inventory valuation adjustment - current period
Inventory valuation adjustment - prior period
Interest expense capitalized
Adjusted gross profit (loss)
Adjusted gross margin
Adjustments:
Direct selling costs
Holding costs on sales - current period
Holding costs on sales - prior period
Other income, net
Contribution profit (loss)
Contribution margin
Homes sold
Contribution profit (loss) per home sold
Adjustments:
Interest expense capitalized
Interest expense on homes sold - current period
Interest expense on homes sold - prior period
Contribution profit (loss) after interest
Contribution margin after interest
Homes sold
Contribution (loss) profit after interest per home sold
Offerpad.
Three Months Ended
June 30, 2023
March 31, 2023
December 31, 2022
September 30, 2022
June 30, 2022
$
22,231
9.7%
$
7,285
$
(44,860)
$
2,159
$
1.2%
-6.6%
0.3%
650
1,609
1,865
2,280
34.2
4.5
(24.1)
0.9
92,981
8.6%
2,888
32.2
169
7,285
44,075
27,529
20,995
(13,679)
(51,515)
(25,469)
(8,955)
(287)
1,358
4,677
3,081
2,508
2,793
10,079
(32,268)
(23,173)
23,241
116,482
4.4%
-5.3%
-3.4%
2.8%
10.8%
(5,743)
(18,061)
(20,584)
(21,419)
(23,524)
(269)
(1,248)
(1,251)
(1,765)
(1,293)
(567)
(1,886)
(1,209)
(405)
(526)
965
282
861
643
24
4,465
(53,181)
(45,356)
295
91,163
1.9%
-8.7%
-6.7%
0.0%
8.4%
650
1,609
1,865
2,280
2,888
6.9
(33.1)
(24.3)
0.1
31.6
(1,358)
(4,677)
(3,081)
(2,508)
(2,793)
(1,292)
(5,498)
(5,858)
(5,707)
(4,115)
(3,708)
(12,032)
(6,943)
(2,382)
(1,999)
(1,893)
(75,388)
(61,238)
(10,301)
82,256
-0.8%
-12.4%
-9.0%
-1.3%
7.6%
650
1,609
1,865
2,280
2,888
(2.9)
(46.9)
(32.8)
(4.5)
28.5
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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