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Offerpad . NEWS RELEASE Offerpad Reports First Quarter 2021 Results 6/1/2021 First Quarter 2021 Highlights - as compared to the prior year first quarter ( unless otherwise noted ) • Revenue for the quarter was $ 284.0 million and increased 27.2 % from $ 223.2 million in the fourth quarter 2020 • • Loss per share improved to ( $ 0.03 ) from ( $ 1.49 ) Net loss improved $ 11.2 million to nearly break even at ( $ 0.2 ) million • Adjusted EBITDA increased $ 8.3 million to $ 3.0 million from ( $ 5.2 ) million • Gross profit increased $ 8.6 million to $ 33.5 million from $ 24.9 million • Gross profit per home sold increased 101 % to $ 32,900 from $ 16,400 • Gross profit margin improved 500 bps to 11.8 % from 6.8 % • Contribution profit after interest per home sold increased 349 % to $ 23,100 from $ 5,100 CHANDLER , Ariz . — Offerpad , Inc. ( " Offerpad " ) , the tech - enabled Real Estate Solutions Center and a leading iBuyer , today reported financial results for its first quarter ended March 31 , 2021 . " Consumer expectations continue to evolve and transform the way we sell and buy homes , and we are seeking to meet and exceed those expectations with our range of digital real estate solutions . The real estate market is highly competitive , and buyers and sellers are turning to Offerpad because of the convenience , certainty and control our one - stop Real Estate Solutions Center provides , " said Brian Bair , CEO and founder of Offerpad . " Offerpad closed the first quarter of 2021 with strong momentum due to favorable market conditions , operational excellence across our company and the increasing willingness of consumers to adopt the digital real estate solutions we provide . Total company revenue increased 27.2 % to $ 284 million from Q4 2020 and is expected to increase on a year over year basis for the remaining quarters of the year . Now it's time to bring the power of Offerpad to more markets and homeowners this year and in 2022. " 1