OPAD — what changed in the latest 10-Q
A section-by-section comparison of OPAD's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-03 vs the prior 10-Q · 2026-04-30
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +71 | −51 | ~24 | 63 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 2 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 3 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +1 | −1 | ~3 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-03
We are a real estate solutions company focused on giving homeowners more control, flexibility, and choice when buying and selling a home. We combine proprietary technology with local real estate expertise to simplify the home sale process and reduce friction across the transaction lifecycle, helping…
We are headquartered in Tempe, Arizona and operate in over 1,900 cities and towns in 27 metropolitan markets across 18 states as of June 30, 2026.
During the first half of 2026, the residential real estate market conditions continued to be negatively impacted by the ongoing housing affordability pressures, weakened consumer confidence and concerns associated with the macroeconomic and geopolitical environments, including the conflict in the Mi…
In response to these prevailing market conditions during the first six months of 2026, we have maintained our focus on refining our operating model with the intention of improving acquisition accuracy, customer engagement, and capital efficiency across the transaction lifecycle. We believe the launc…
Within this operating environment during the first half of 2026, we remained diligent in selling through our aged real estate inventory, while also leveraging our portfolio intelligence platform to streamline our evaluation and underwriting process, in order to steadily increase our home acquisition…
Text removed vs the prior filing · source: 10-Q · 2026-04-30
We are a real estate solutions company focused on giving homeowners more control, flexibility, and choice when buying and
selling a home. We combine proprietary technology with local real estate expertise to simplify the home sale process and
reduce friction across the transaction lifecycle, helping customers move forward with speed, transparency, and confidence. We
provide cash offers, brokerage services, access to additional cash buyers through marketplace-enabled capabilities, and
renovation services that support both internal transactions and third-party partners. Founded in 2015, we have transacted on homes representing approximately $12.3 billion of aggregate revenue through March 31, 2026.
Other information
Text added vs the prior filing · source: 10-Q · 2026-08-03
On July 29, 2026, OP SPE SUMMIT, LLC, a Delaware limited liability company (“Summit Borrower”), and wholly owned subsidiary of the Company, and WHGG II TRUST, a Delaware statutory trust (“Lender”), entered into the Second Amended and Restated Revolving Loan Agreement (the “Second Amended and Restate…
Text removed vs the prior filing · source: 10-Q · 2026-04-30
Also on April 24, 2026, OP SPE Summit, LLC, a wholly owned subsidiary of the Company, as borrower, entered into the Second Amendment to Amended and Restated Revolving Loan Agreement (the “Second Amendment” and, collectively with the Eighth Amendment, the “Amendments”), with WHGG II Trust, as lender,…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice