JustPark Acquires Oobeo to Remove Friction From Everyday Parking
The acquisition represents a key milestone in JustPark's North American growth strategy and paves way for more innovative products that work seamlessly across the fragmented mobility ecosystem spanning commercial operators, municipalities, venues, as well as public and private institutions.
Oobeo's tech stack is frictionless, designed to protect revenue, reduce fraud and provide valet, on-demand payments and permits that solve evolving daily parking needs.
Its intuitive mobile-first platform is already capturing high demand among major industry operators and serving more than 6 million users. Combining Oobeo's platform with JustPark's business that powers over $1bn in booking volume for more than 40 million cars across North America's largest venues will expand cost-effective, scalable everyday parking technology to operators, municipalities, real estate developers, as well as local institutions e.g. universities.
Charley DeBow, Managing Director of North America at JustPark said: 'As cities grow and evolve, so will the demand for everyday parking products that are fit for the smartphone generation. Oobeo has all the right ingredients and talent to help us continue innovating our product suite. We have known Mitch for several years and have consistently been impressed by his work ethic and exceptional leadership. We're excited to join forces and bring faster, smarter parking to even more destinations across North America."
As part of the acquisition, Oobeo's CEO Mitch Carter, joins JustPark as General Manager-Commercial Solutions and will be instrumental in scaling the company's U.S. footprint. Mitch Carter added: 'Just like our team at Oobeo, JustPark has built a thriving business by removing universal pain points in parking and empowering venues to deliver profitable, best-in-class visitor experiences. With a shared mission and a joint approach, there is a lot more we can achieve in bringing the parking industry to the forefront of innovation and helping it stay ahead of evolving commercial and operational challenges."
About JustPark
JustPark is reshaping the parking industry with faster, smarter solutions for drivers and destinations. We make it easier for drivers to find, book and pay for parking, whether it's at a venue, on the street or on a private driveway. For operating partners, we empower them to deliver best-in-class parking management services.
JustPark powers over $1Bn in booking volume for over 550 customers in the U.S., parking more than 40 million cars each year. In the UK, more than 14 million drivers use the JustPark app to reserve parking. Our platform equips operators with the tools to streamline operations, reduce costs, and unlock actionable insights. With decades of innovation, JustPark is redefining parking, one space at a time. www.justpark.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
13 minutes ago
- Business Wire
AGL Investors Have Opportunity to Join agilon health, inc. Fraud Investigation with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)-- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of agilon health, inc. ('Agilon' or 'the Company') (NYSE: AGL) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Agilon announced on August 4, 2025, that President and CEO Steven Sell was stepping down immediately. The Company also withdrew its full-year 2025 financial guidance. Based on this news, shares of Agilon fell by more than 27.2% in after hours trading on the same day. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
Business Wire
2 hours ago
- Business Wire
CORRECTING and REPLACING Offerpad Reports Second Quarter 2025 Results, Highlights Capital Raise and Momentum Across Asset-Light Services
TEMPE, Ariz.--(BUSINESS WIRE)--In the "Third Quarter 2025 Outlook" table, the figures in the "Homes Sold" and "Revenue" rows have been corrected. Offerpad reported revenue of $160.3M and sold 452 homes during the quarter. The company continued to demonstrate operational discipline and saw strong momentum across its asset-light services, supporting platform scalability and long-term growth. The corrected release reads: OFFERPAD REPORTS SECOND QUARTER 2025 RESULTS, HIGHLIGHTS CAPITAL RAISE AND MOMENTUM ACROSS ASSET-LIGHT SERVICES Offerpad (NYSE: OPAD), a leading real estate tech company built to simplify the home selling and buying experience, today announced its financial results for the second quarter ended June 30, 2025. Offerpad reported revenue of $160.3M and sold 452 homes during the quarter. The company continued to demonstrate operational discipline and saw strong momentum across its asset-light services, supporting platform scalability and long-term growth. 'We're seeing strong validation of our model and the progress we've made,' said Brian Bair, Chairman and CEO of Offerpad. 'We've built a platform that brings together sellers, agents, cash buyers, and institutional partners, creating a true real estate solutions center. This foundation positions us to scale our asset-light services, operate with greater efficiency, and be ready to accelerate as market activity returns.' Q2 2025 Highlights Capital Raise: With $21M raised in July, Offerpad's total liquidity exceeds $75M, strengthening the balance sheet and supporting key growth initiatives. HomePro Expansion: Now live in all markets, Offerpad HomePro enables specialized agents to deliver in-person selling solutions—including Offerpad's cash offer, open market listings, third-party investor marketplace, and an upside program that provides cash now, plus the potential for more after listing. HomePro is already driving strong engagement and conversations directly in the seller's living room. Record Renovate Quarter: Offerpad Renovate delivered $6.4 million in revenue, the highest quarterly revenue since the product's launch, reflecting increased demand from institutional and investor partners. Advancing Direct+: Upgrades to the asset-light Direct+ platform are improving SFR buyer engagement and aligning inventory with partner buy boxes. Financial Summary Revenue: $160.3M Homes Sold: 452 Gross Margin: 8.9% Adjusted EBITDA Loss: ($4.8M), improving 39% sequentially Unrestricted Cash: $22.6M Total Liquidity: Over $55M 'Our July capital raise totaled $21M, is primarily non-dilutive, and gives us the ability to continue investing in scalable, margin-positive areas of the business,' said Peter Knag, CFO of Offerpad. 'While our cash offer remains the cornerstone of our model, we're also advancing complementary services like HomePro, which enhances how we deliver solutions in-person, along with Renovate and Direct+, which help us reach new customer segments and serve institutional buyers. These strategic investments support our asset-light approach and long-term growth.' Looking Ahead Offerpad expects Q3 2025 revenue to be in the range of $130 to $150 Million with 360 to 410 homes sold. The company anticipates continued sequential improvement in Adjusted EBITDA as it scales its asset-light services and maintains cost discipline. For additional information, please refer to Offerpad's shareholder letter and full financial results available at Q2 2025 Financial Results (year over year) Q2 2025 Q2 2024 Percentage Change Homes acquired 443 831 (47%) Homes sold 452 742 (39%) Revenue $160.3M $251.1M (36%) Gross profit $14.2M $21.9M (35%) Net loss ($10.9M) ($13.8M) (21%) Adjusted EBITDA ($4.8M) ($4.4M) (8%) Diluted Net Loss per Share ($0.39) ($0.50) 22% Gross profit per home sold $31,400 $29,500 7% Contribution profit after interest per home sold $12,400 $14,500 (14 %) Cash and cash equivalents $22.7M $56.9M (60%) Expand Additional information regarding Offerpad's second quarter of 2025 financial results and management commentary can be found by accessing the Company's Quarterly Shareholder presentation on the Offerpad investor relations website. Third Quarter 2025 Outlook Offerpad is providing its third quarter outlook for 2025 as follows: Conference Call and Webcast Details Brian Bair, Chairman and CEO, and Peter Knag, CFO, will host a conference call and accompanying webcast on August 5, 2025, at 4:30 p.m. ET. The webcast can be accessed on Offerpad's Investor Relations website. Those interested can register here. Access to a replay of the webcast will be available from the same website address shortly after the live webcast concludes. About Offerpad Offerpad, dedicated to simplifying the process of buying and selling homes, is a publicly traded company committed to providing comprehensive solutions that removes the friction from real estate. Our advanced real estate platform offers a range of services, from consumer cash offers to B2B renovation solutions and industry partnership programs, all tailored to meet the unique needs of our clients. Since 2015, we have leveraged local expertise in residential real estate alongside proprietary technology to guide homeowners at every step. Learn more at #OPAD_IR Forward-Looking Statements Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Offerpad's future financial or operating performance. For example, statements regarding Offerpad's financial outlook, including homes sold, revenue and Adjusted EBITDA, for the first quarter of 2025, and expectations regarding market conditions, strategic imperatives and long-term sustainability and growth are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as 'pro forma,' 'may,' 'should,' 'could,' 'might,' 'plan,' 'possible,' 'project,' 'strive,' 'budget,' 'forecast,' 'expect,' 'intend,' 'will,' 'estimate,' 'anticipate,' 'believe,' 'predict,' 'potential' or 'continue,' or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that may impact such forward-looking statements include, but are not limited to, Offerpad's ability to respond to general economic conditions; the health of the U.S. residential real estate industry; Offerpad's ability to grow market share in its existing markets or any new markets it may enter; Offerpad's ability to grow effectively; Offerpad's ability to accurately value and manage real estate inventory, maintain an adequate and desirable supply of real estate inventory, and manage renovations; Offerpad's ability to successfully launch new product and service offerings, and to manage, develop and refine its technology platform; Offerpad's ability to maintain and enhance its products and brand, and to attract customers; Offerpad's ability to achieve and maintain profitability in the future; and the success of strategic relationships with third parties; Offerpad's ability to regain compliance with New York Stock Exchange ('NYSE') Rule 802.01B, or failure to comply with other NYSE continued listing rules. These and other important factors discussed under the caption "Risk Factors" in Offerpad's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission on February 25, 2025, and Offerpad's other reports filed with the Securities and Exchange Commission could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Offerpad and its management, are inherently uncertain. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Offerpad undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. OFFERPAD SOLUTIONS INC. Condensed Consolidated Balance Sheets June 30, December 31, (in thousands, except par value per share) (Unaudited) 2025 2024 ASSETS Current assets: Cash and cash equivalents $ 22,650 $ 43,018 Restricted cash 4,096 30,608 Accounts receivable 7,543 3,848 Real estate inventory 212,737 214,174 Prepaid expenses and other current assets 2,571 2,564 Total current assets 249,597 294,212 Property and equipment, net 9,672 9,127 Other non-current assets 8,717 9,714 TOTAL ASSETS $ 267,986 $ 313,053 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,297 $ 1,922 Accrued and other current liabilities 12,422 11,804 Secured credit facilities and other debt, net 177,322 195,378 Secured credit facilities and other debt - related party 38,577 41,861 Total current liabilities 229,618 250,965 Warrant liabilities 159 231 Other long-term liabilities 13,674 14,204 Total liabilities 243,451 265,400 Commitments and contingencies Stockholders' equity: Class A common stock, $0.0001 par value; 2,000,000 shares authorized; 27,710 and 27,379 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 3 3 Additional paid in capital 510,538 507,696 Accumulated deficit (486,006 ) (460,046 ) Total stockholders' equity 24,535 47,653 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 267,986 $ 313,053 Expand Non-GAAP Financial Measures In addition to Offerpad's results of operations above, Offerpad reports certain financial measures that are not required by, or presented in accordance with, U.S. generally accepted accounting principles ('GAAP'). These measures have limitations as analytical tools when assessing Offerpad's operating performance and should not be considered in isolation or as a substitute for GAAP measures, including gross profit and net income. Offerpad may calculate or present its non-GAAP financial measures differently than other companies who report measures with similar titles and, as a result, the non-GAAP financial measures Offerpad reports may not be comparable with those of companies in Offerpad's industry or in other industries. Offerpad has not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted net income (loss) within this press release because Offerpad is unable to calculate certain reconciling items without making unreasonable efforts. These items, which include, but are not limited to, stock-based compensation with respect to future grants and forfeitures, could materially affect the computation of forward-looking net income (loss), are inherently uncertain and depend on various factors, some of which are outside of Offerpad's control. Adjusted Gross Profit, Contribution Profit, and Contribution Profit After Interest (and related margins) To provide investors with additional information regarding Offerpad's margins, Offerpad has included Adjusted Gross Profit, Contribution Profit, and Contribution Profit After Interest (and related margins), which are non-GAAP financial measures. Offerpad believes that Adjusted Gross Profit, Contribution Profit, and Contribution Profit After Interest are useful financial measures for investors as they are used by management in evaluating unit level economics and operating performance across Offerpad's markets. Each of these measures is intended to present the economics related to homes sold during a given period. Offerpad does so by including revenue generated from homes sold (and ancillary services) in the period and only the expenses that are directly attributable to such home sales, even if such expenses were recognized in prior periods, and excluding expenses related to homes that remain in real estate inventory as of the end of the period presented. Contribution Profit provides investors a measure to assess Offerpad's ability to generate returns on homes sold during a reporting period after considering home acquisition costs, renovation and repair costs, and adjusting for holding costs and selling costs. Contribution Profit After Interest further impacts gross profit by including interest costs (including senior and mezzanine secured credit facilities) attributable to homes sold during a reporting period. Offerpad believes these measures facilitate meaningful period over period comparisons and illustrate Offerpad's ability to generate returns on assets sold after considering the costs directly related to the assets sold in a presented period. Adjusted Gross Profit, Contribution Profit and Contribution Profit After Interest (and related margins) are supplemental measures of Offerpad's operating performance and have limitations as analytical tools. For example, these measures include costs that were recorded in prior periods under GAAP and exclude, in connection with homes held in real estate inventory at the end of the period, costs required to be recorded under GAAP in the same period. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of Offerpad's results as reported under GAAP. Offerpad includes a reconciliation of these measures to the most directly comparable GAAP financial measure, which is gross profit. Adjusted Gross Profit / Margin Offerpad calculates Adjusted Gross Profit as gross profit under GAAP adjusted for (1) net real estate inventory valuation adjustment plus (2) interest expense associated with homes sold in the presented period and recorded in cost of revenue. Net real estate inventory valuation adjustment is calculated by adding back the real estate inventory valuation adjustment charges recorded during the period on homes that remain in real estate inventory at period end and subtracting the real estate inventory valuation adjustment charges recorded in prior periods on homes sold in the current period. Offerpad defines Adjusted Gross Margin as Adjusted Gross Profit as a percentage of revenue. Offerpad views this metric as an important measure of business performance, as it captures gross margin performance isolated to homes sold in a given period and provides comparability across reporting periods. Adjusted Gross Profit helps management assess performance across the key phases of processing a home (acquisitions, renovations, and resale) for a specific resale cohort. Contribution Profit / Margin Offerpad calculates Contribution Profit as Adjusted Gross Profit, minus (1) direct selling costs incurred on homes sold during the presented period, minus (2) holding costs incurred in the current period on homes sold during the period recorded in sales, marketing, and operating, minus (3) holding costs incurred in prior periods on homes sold in the current period recorded in sales, marketing, and operating, plus (4) other income, net which is primarily comprised of interest income earned on our cash and cash equivalents and fair value adjustments of derivative financial instruments. The composition of Offerpad's holding costs is described in the footnotes to the reconciliation table below. Offerpad defines Contribution Margin as Contribution Profit as a percentage of revenue. Offerpad views this metric as an important measure of business performance as it captures the unit level performance isolated to homes sold in a given period and provides comparability across reporting periods. Contribution Profit helps management assess inflows and outflow directly associated with a specific resale cohort. Contribution Profit / Margin After Interest Offerpad defines Contribution Profit After Interest as Contribution Profit, minus (1) interest expense associated with homes sold in the presented period and recorded in cost of revenue, minus (2) interest expense associated with homes sold in the presented period, recorded in costs of sales, and previously excluded from Adjusted Gross Profit, and minus (3) interest expense under Offerpad's senior and mezzanine secured credit facilities and other senior secured debt incurred on homes sold during the period. This includes interest expense recorded in prior periods in which the sale occurred. Offerpad's senior and mezzanine secured credit facilities and other senior secured debt are secured by their homes in real estate inventory and drawdowns are made on a per-home basis at the time of purchase and are required to be repaid at the time the homes are sold. Offerpad defines Contribution Margin After Interest as Contribution Profit After Interest as a percentage of revenue. Offerpad views this metric as an important measure of business performance. Contribution Profit After Interest helps management assess Contribution Margin performance, per above, when fully burdened with costs of financing. The following table presents a reconciliation of Offerpad's Adjusted Gross (Loss) Profit, Contribution (Loss) Profit and Contribution (Loss) Profit After Interest to Offerpad's Gross (Loss) Profit, which is the most directly comparable GAAP measure, and Contribution (Loss) Profit Per Home Sold and Contribution (Loss) Profit After Interest Per Home Sold to Offerpad's Gross (Loss) Profit Per Home Sold, which is the most directly comparable GAAP measure, for the periods indicated: (1) Real estate inventory valuation adjustment – current period is the real estate inventory valuation adjustments recorded during the period presented associated with homes that remain in real estate inventory at period end. (2) Real estate inventory valuation adjustment – prior period is the real estate inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented. (3) Interest expense capitalized represents all interest related costs, including senior and mezzanine secured credit facilities, incurred on homes sold in the period presented that were capitalized and expensed in cost of sales at the time of sale. (4) Direct selling costs represents selling costs incurred related to homes sold in the period presented. This primarily includes broker commissions and title and escrow closing fees. (5) Holding costs primarily include insurance, utilities, homeowners association dues, property taxes, cleaning, and maintenance costs. (6) Represents holding costs incurred on homes sold in the period presented and expensed to Sales, marketing, and operating on the Condensed Consolidated Statements of Operations. (7) Represents holding costs incurred in prior periods on homes sold in the period presented and expensed to Sales, marketing, and operating on the Condensed Consolidated Statements of Operations. (8) Other income, net principally represens interest income earned on our cash and cash equivalents and fair value adjustments of derivative financial instruments. (9) Represents both senior and mezzanine interest expense incurred on homes sold in the period presented and expensed to interest expense on the Condensed Consolidated Statements of Operations. (10) Represents both senior and mezzanine secured credit facilities interest expense incurred in prior periods on homes sold in the period presented and expensed to interest expense on the Condensed Consolidated Statements of Operations. Expand Adjusted Net Income (Loss) and Adjusted EBITDA Offerpad also presents Adjusted Net Income (Loss) and Adjusted EBITDA, which are non-GAAP financial measures, which the management team uses to assess Offerpad's underlying financial performance. Offerpad believes these measures provide insight into period over period performance, adjusted for non-recurring or non-cash items. Offerpad calculates Adjusted Net Income (Loss) as GAAP Net Income (Loss) adjusted for the change in fair value of warrant liabilities. Offerpad defines Adjusted Net Income (Loss) Margin as Adjusted Net Income (Loss) as a percentage of revenue. Offerpad calculates Adjusted EBITDA as Adjusted Net Income (Loss) adjusted for interest expense, amortization of capitalized interest, taxes, depreciation and amortization and stock-based compensation expense. Offerpad defines Adjusted EBITDA Margin as Adjusted EBITDA as a percentage of revenue. Adjusted Net Income (Loss) and Adjusted EBITDA are supplemental to Offerpad's operating performance measures calculated in accordance with GAAP and have important limitations. For example, Adjusted Net Income (Loss) and Adjusted EBITDA exclude the impact of certain costs required to be recorded under GAAP and could differ substantially from similarly titled measures presented by other companies in Offerpad's industry or companies in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of Offerpad's results as reported under GAAP. The following table presents a reconciliation of Offerpad's Adjusted Net Income (Loss) and Adjusted EBITDA to their GAAP Net Income (Loss), which is the most directly comparable GAAP measure, for the periods indicated: (1) Amortization of capitalized interest represents all interest related costs, including senior and mezzanine secured interest related costs, incurred on homes sold in the period presented that were capitalized and expensed in cost of sales at the time of sale. Expand
Yahoo
2 hours ago
- Yahoo
Canada Goose monitors US trade policy as revenue improves
This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. Dive Brief: Canada Goose's first quarter net revenue increased 22.4% year over year to 107.8 million Canadian dollars (about $78 million at the time of publishing), per a company press release Thursday. The apparel brand's direct-to-consumer revenue jumped about 24% and wholesale grew 12%. While gross profit improved about 26% to CA$66.2 million, Canada Goose's operating loss grew nearly 64% to CA$158.7 million and net loss increased 70% to CA$125.5 million. The company did not provide forward-looking guidance. 'As we see, anything can happen at any day,' CFO Neil Bowden said on a call with analysts Thursday. 'So we're maintaining a bit of prudence around what the outlook is for the year.' Dive Insight: As the state of U.S. and Canadian trade policies continues to fluctuate, Canada Goose is steadfast in monitoring the situation. 'We continue to monitor the ongoing developments as it relates to potential new U.S. tariffs on Canadian goods as well as potential second-order impacts on the consumer,' Bowden remarked on the call. The executive reiterated that about 75% of the brand's inventory is manufactured in Canada and 'virtually all comply with the USMCA requirements, making them currently exempt from tariffs.' From a regional perspective, Canada Goose's North American revenue was up 27% in Q1 led by DTC growth. Bowden noted that stores 'led the way with double-digit DTC comp sales growth each month in the quarter.' The brand is traditionally known for its cold-weather, high-end apparel, but it's been on a journey to expand past that reputation. In its press release Thursday, Canada Goose highlighted the release of its second Snow Goose capsule collection that featured a campaign set in the summery deserts of Utah. The latest release under creative director Haider Ackermann emphasized lightweight fabrics to reimagine classic styles from the brand. 'Newness is a new theme underpinned by the new Creative Director, Haider Ackermann, (appointed on May 2024), and we think the time is right for marketing spend in conjunction with faster and more relevant as well as lifestyle product flows,' TD Cowen analysts said in a note shared with Retail Dive on Friday. Nonheavyweight product is key to improving sales productivity and competing with top-tier luxury brands, the analysts added. The sentiment is shared by Canada Goose executives. 'When you look at the apparel growth that we've seen, we're a brand that is known for warmth,' Brand and Commercial President Carrie Baker said on the call with analysts. 'And outside of winter, we're just really not known as that brand, but this campaign, the collection really challenge that perception and people responded to it.' Recommended Reading Levi's braces for effects of economic uncertainty on consumers Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
