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Offerpad . Offerpad Reports Record Revenue and Profit for Second Quarter 2021 ; Provides 2021 Full - Year Outlook Company posts profitable Q2 ; grows acquisitions 340 % in tight real estate market Second Quarter 2021 Highlights - compared with the prior - year second quarter : • Revenue increased 32 % to $ 378.6 million Fully diluted earnings per share were $ 0.31 , marking the first profitable quarter in company history • • Net income improved to $ 9.2 million , an increase of $ 16.6 million • Adjusted EBITDA increased $ 16.8 million to a record $ 13.1 million • • Gross profit increased $ 33.0 million to $ 50.9 million , or 13.4 % of revenue Contribution profit after interest per home sold increased to $ 31,500 from $ 1,400 • Acquired a record 2,025 homes , up from 460 • Business combination with Supernova Partners Acquisition Company expected to close in the third quarter of 2021 CHANDLER , Ariz . - August 16 , 2021 - Offerpad , Inc. ( " Offerpad " ) , a leading tech - enabled platform for buying and selling residential real estate , today reported financial results for its second quarter ended June 30 , 2021 . " Offerpad performed exceptionally well this quarter and posted our first quarterly profit , " said Brian Bair , CEO and founder of Offerpad . " For consumers , the nearly $ 2 trillion U.S. residential real estate market remains fractured , time consuming , stressful and expensive . Consumers want and expect a fast , easy , and seamless online experience when buying and selling a home . At Offerpad , we distinguish ourselves as an incredibly adaptable , customer - centric company that has proven our ability to grow and excel in all types of market conditions . To succeed in this industry , you need a combination of proprietary technology , home underwriting accuracy , and renovation excellence . Our unique expertise combining technology development and real estate transaction experience allows us to operate at the most efficient level in the market . " We're thrilled with the record number of acquisitions and the extraordinary contribution margin we achieved in the second quarter . At Offerpad , we celebrate the wins , such as our performance this quarter , while also staying focused on keeping our business model adaptable . For the balance of the year , we expect continued growth and high customer satisfaction levels as we further our mission to provide the best way to buy and sell a home . " Q2 Financial Highlights Revenue Homes sold Homes acquired Gross profit Q2 2021 $ 378.6 million Q2 2020 $ 287.0 million Percentage Change 1,259 2,025 $ 50.9 million Net income ( loss ) $ 9.2 million 1,166 460 $ 17.9 million ( $ 7.4 ) million 31.9 % 8.0 % 340.2 % 184.8 % N. A. Adjusted EBITDA Contribution profit after interest per home sold $ 13.1 million $ 31,500 ( $ 3.7 ) million $ 1,400 N. A. 2,093.3 % " Our results this quarter were driven by our continued focus on operational excellence , our ability to match the right services with the right consumers , as well as favorable market conditions , " said Mike Burnett CFO of Offerpad . " Our operational performance was US - DOCS 125625650.3