Offerpad receives second delisting warning in 11 months
The iBuyer has 6 months to return to compliance with NYSE rules after its share price fell below $1 for 30 days. It will also “consider available alternatives.”
Offerpad is again facing a potential delisting from the New York Stock Exchange (NYSE) after its share price dipped too low for too long.
On March 6, the iBuyer announced it had received a notice from the NYSE after its average share closing price remained below $1 for 30 consecutive trading days, putting it out of compliance with the NYSE's "continued listing standard."
The company's share price was $0.73 as of 3 p.m. ET on March 9.
A déjà vu scenario: This is the second time in less than a year that Offerpad has been at risk of losing its position on the exchange. In April 2025, the company received a similar letter from the NYSE warning about a recent share price dip, and it also faced a potential delisting in late 2022.
Offerpad isn't the only iBuyer that has struggled to maintain a share price over $1. In May 2025, Opendoor received a notice from Nasdaq warning that it could soon be delisted. Opendoor was able to regain compliance by early August amid a meme stock rally that also benefitted Offerpad at the time.
Notice comes amid efforts to 'scale more consistently': This latest delisting warning from the NYSE came less than two weeks after Offerpad shared its Q4 and full-year 2025 earnings results. While the company reported a dip in revenue in Q4, its net loss improved year-over-year — and CEO Brian Bair had clear growth goals in mind for the year ahead.
"By expanding our platform and strengthening our operating framework, we have positioned the Company to scale more consistently and support our objective of exiting 2026 at approximately 1,000 transactions per quarter," Bair said in a Feb. 23 news release.
Broader iBuyer challenges: But scaling has been tough for iBuyers in recent years. After launching in 2015, Offerpad competed with Opendoor and other companies that experimented with iBuying — including Zillow and Redfin. But the pandemic-era market shift brought new strain to the business model.
After Zillow officially discontinued its Zillow Offers program in Sept. 2022 and Redfin announced in Nov. 2022 that it was winding down its iBuyer division, Offerpad and Opendoor emerged as two of the largest players in the space.
What happens next: Offerpad won't be delisted right away — and it may not be delisted at all. If, during the next six months, the company's share price rises and maintains an average closing price at or above $1 over a 30 trading-day period, the delisting threat will be over.
In the meantime, Offerpad will weigh "available alternatives," according to a company news release. That includes considering a reverse stock split, which would require shareholder approval.