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Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Restricted cash $ 44,474 $ 24,616
Accounts receivable 12,929 6,165
Inventory 1,289,426 1,132,571
Prepaid expenses and other current assets 12,966 9,808
Property and equipment, net 5,622 5,146
Total assets [1] 1,526,795 1,353,082
Accounts payable 10,705 6,399
Accrued and other current liabilities 45,412 35,027
Secured credit facilities and notes payable 1,054,455 861,762
Total liabilities [2] 1,208,114 1,095,513
Variable Interest Entity [Member]    
Restricted cash 44,474 24,616
Accounts receivable 11,862 4,845
Inventory 1,289,426 1,132,571
Prepaid expenses and other current assets 5,143 2,871
Total assets 1,350,905 1,164,903
Accounts payable 6,909 2,810
Accrued and other current liabilities 3,553 3,537
Secured credit facilities and notes payable 1,141,911 1,026,196
Total liabilities $ 1,152,373 $ 1,032,543
Class A Common Stock    
Common stock, par value $ 0.0001 $ 0.0001
Common stock, shares authorized 2,000,000,000 2,000,000,000
Common stock, shares issued 232,149,795 224,154,000
Common stock, shares outstanding 232,149,795 224,154,000
Class B Common Stock    
Common stock, par value $ 0.0001 $ 0.0001
Common stock, shares authorized 20,000,000 20,000,000
Common stock, shares issued 14,816,236 14,816,000
Common stock, shares outstanding 14,816,236 14,816,000
[1] Our consolidated assets as of June 30, 2022 and December 31, 2021 include the following assets of certain variable interest entities (“VIEs”) that can only be used to settle the liabilities of those VIEs: Restricted cash, $44,474 and $24,616; Accounts receivable, $11,862 and $4,845; Inventory, $1,289,426 and $1,132,571; Prepaid expenses and other current assets, $5,143 and $2,871; Total assets of $1,350,905 and $1,164,903, respectively.
[2] Our consolidated liabilities as of June 30, 2022 and December 31, 2021 include the following liabilities for which the VIE creditors do not have recourse to Offerpad: Accounts payable, $6,909 and $2,810; Accrued and other current liabilities, $3,553 and $3,537; Secured credit facilities and notes payable, net, $1,141,911 and $1,026,196; Total liabilities, $1,152,373 and $1,032,543, respectively.