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Offerpad Reports Third Quarter 2026 Results; Fee-Based Channels Reach 35% of Closings

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Offerpad Reports Third Quarter 2026 Results; Fee-Based Channels Reach 35% of Closings
Business

Business

Offerpad Reports Third Quarter 2026 Results; Fee-Based Channels Reach 35% of Closings

2026-11-03 05:15 Last Updated At:05:31

TEMPE, Ariz.--(BUSINESS WIRE)--Nov 2, 2026--

Offerpad Solutions Inc. (the “Company” or “Offerpad”) (Nasdaq: OPAD), a leading tech-enabled real estate solutions company, today reported financial results for the third quarter ended September 30, 2026.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261102599210/en/

Total real estate transactions increased for the second consecutive quarter, from 263 in Q1 to 295 in Q2 and 324 in Q3. Brokerage Services and Cash Offer Marketplace represented approximately 35% of Q3 closed transactions, and Brokerage listing signings more than doubled quarter over quarter.

For the third quarter, the Company reported revenue of $78.1 million. Total closed real estate transactions were 324, excluding Renovate. Net loss was $11.5 million, and Adjusted EBITDA was a loss of $7.5 million. Gross profit was $6.5 million, with gross margin of 8.3%. Contribution profit after interest per real estate transaction was approximately $12,900, near Q2 levels and about double the prior-year quarter.

Offerpad acquired 605 homes in Q3. Purchases were concentrated in markets where homes were still selling at a pace that met the Company’s requirements, and aged homes represented 2.6% of inventory at quarter-end, below the Company’s 10% threshold. That inventory is expected to provide a pipeline of dispositions through the rest of 2026 and into early 2027.

“Mortgage rates rose more than 70 basis points from mid-August to early October, putting additional pressure on housing affordability and slowing buyer demand,” said Brian Bair, Chairman and Chief Executive Officer of Offerpad. “As homes took longer to sell, we adjusted our acquisition criteria to require higher expected returns and became more selective about new purchases, while serving more sellers through Cash Offer Marketplace and Brokerage Services. Having multiple ways to serve homeowners gives us flexibility to keep growing transactions while maintaining capital discipline.”

Offerpad ended the third quarter with $12.1 million in unrestricted cash and an estimated $55 million of equity in inventory. As homes sell, proceeds first repay the associated inventory financing, with the remaining capital returning to the business to support liquidity, operations and future purchases.

Looking Ahead

Offerpad now expects to achieve a positive Adjusted EBITDA run rate as it exits Q2 2027, compared with its previous expectation of exiting 2026 at that level. The updated timeline reflects the expected sale of inventory acquired in Q3, the contribution from higher-return purchases as those homes sell, and the phased impact of cost savings.

For Q4 2026, Offerpad expects 400 to 475 closed real estate transactions and revenue of $100 million to $120 million, with a sequential improvement in Adjusted EBITDA.

The outlook assumes mortgage rates remain near current levels and does not assume rate relief.

Additional information, including quarterly financial materials, is available at investor.offerpad.com.

Q3 2026 Financial Results (year over year)

Additional information regarding Offerpad’s third quarter of 2026 financial results and management commentary can be found by accessing the Company’s Quarterly Shareholder presentation on the Offerpad investor relations website.

Fourth Quarter 2026 Outlook

Offerpad is providing its fourth quarter outlook for 2026 as follows:

Conference Call and Webcast Details

Brian Bair, Chairman and CEO, and Andrew Pieper, Interim CFO, will host a conference call and accompanying webcast on November 2, 2026, 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 Solutions Inc. (Nasdaq: OPAD) is a real estate solutions company focused on giving homeowners more control, flexibility, and choice when buying and selling a home. The Company provides 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, the Company combines proprietary technology with local real estate expertise to simplify how homes are bought and sold, helping every homeowner move forward with greater clarity and confidence. Learn more at www.offerpad.com.

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 transactions across Cash Offer, Cash Offer Marketplace and Brokerage Services, revenue, and Adjusted EBITDA, and expectations regarding cost structure, run-rate, profitability, operating leverage, transaction demand and volume, the availability and expected use of real estate inventory, signed contracts, closing periods, conversion, growth and AI capabilities 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; real estate inventory; Offerpad’s ability to successfully launch, market to customers, manage or expand its products and services; 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 achieve and maintain profitability in the future; Offerpad’s underwriting process, 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 manage, develop and refine its technology platform; the success of strategic relationships with third parties; Offerpad’s transfer to The Nasdaq Stock Market LLC and ability to meet continued listing standards; macroeconomic trends, including due to conflict in the Middle East; and Offerpad’s ability to use net operating loss carryforwards and other tax attributes due to ownership changes. 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, 2025 filed with the Securities and Exchange Commission on February 24, 2026, 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.

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 that 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 the number of homes sold or other real estate transactions during a given period. Offerpad does so by including revenue generated from its Cash Offer, Cash Offer Marketplace, and Brokerage Services solutions in the period and only the expenses that are directly attributable to these transactions, 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 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 and other senior secured debt) 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 its homes sold and other real estate transactions after considering the costs directly related to such transactions 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 real estate transactions 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 composed of interest income earned on our cash and cash equivalents. 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 real estate transactions in a given period and provides comparability across reporting periods. Contribution Profit helps management assess inflows and outflows 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 cost 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 its 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 Profit, Contribution Profit and Contribution Profit After Interest to Offerpad’s Gross Profit, which is the most directly comparable GAAP measure, for the periods indicated:

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 and expiration 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 its GAAP Net Income (Loss), which is the most directly comparable GAAP measure, for the periods indicated:

#OPAD_IR

“Our focus is converting inventory into cash and continuing to optimize our cost base,” said Andrew Pieper, Interim Chief Financial Officer. “Together, we expect those actions to continue to support liquidity and lower the transaction volume required to reach Adjusted EBITDA breakeven.”

“Our focus is converting inventory into cash and continuing to optimize our cost base,” said Andrew Pieper, Interim Chief Financial Officer. “Together, we expect those actions to continue to support liquidity and lower the transaction volume required to reach Adjusted EBITDA breakeven.”

President Donald Trump's administration appealed to the Supreme Court on Monday in its push to sideline thousands of disputed California mail ballots the day before the pivotal midterm elections. The emergency appeal came after an appeals court rejected the request to set aside some 20,000 ballots from people the federal government suspects may not be U.S. citizens.

Trumpclosed out the final weekend before Election Day with rallies in two states he had handily won in the past.

At the same time, Democrats began to fracture in Michigan, risking their effort to retake the Senate. Michigan Democrat Abdul El-Sayed’s former opponent in the U.S. Senate primary, Haley Stevens, stunned party officials Sunday by endorsing Republican Mike Rogers as Democratic tensions boiled over days before the election.

Trump made his closing pitch of the midterms Monday afternoon at the Lincoln Memorial Reflecting Pool, pushing his slow, expensive and problem-plagued efforts to repair it back into the spotlight on the eve of Election Day.

The Latest:

U.S. Sen. Darline Graham’s voice has run out of steam as she wraps up her campaign in South Carolina.

The Republican spoke for barely more than a minute at the end of her four-month sprint after her brother, Lindsey Graham, died suddenly in July.

Polls have shown a tight race between Graham and Democratic pediatrician Annie Andrews. Andrews was at a get-out-the-vote rally in Charleston on Monday.

Darline Graham was appointed to her brother’s seat, then won a snap Republican primary. She’s struggled at times with the sudden public spotlight after years working in state government instead of politics.

In a raspy voice, Graham apologized twice and quickly introduced fellow Republican Alan Wilson, the attorney general running for governor.

“This is the final stop, and I have enjoyed every minute of it, and I promise you I will work so hard for this state every single day,” she said.

The outdoor amphitheater is packed with supporters and bars for libations, the trees above glow from blue lights, and the stage pumps dance music.

“This ain’t Texas, ain’t no hold ’em,” Beyoncé’s voice blares from the speakers.

With instruments waiting for a band onstage, it’s part concert, part final hurrah to end the long road to Election Day.

It’s a road that the crowd here hopes will end with James Talarico becoming the first Democrat in more than 30 years to win statewide in Texas.

His public schedule released by the White House shows the president participating in a series of private meetings, including a closed-door one with John Joseph Arrigo, the U.S. ambassador to Portugal.

Trump’s schedule also lists “signing time,” which is when he typically signs documents like executive orders, proclamations and bills sent to him by Congress. That’s listed as closed to the news media, but he often calls reporters into the Oval Office to talk about what he signed.

Lastly, the president is hosting an election night reception in the White House East Room, also listed as closed to news coverage. That, too, could change — depending on how Republicans fare as the results come in.

The Supreme Court on Monday rejected a push for California to set aside thousands of mail ballots from people President Trump’s administration claims are noncitizens, a decision that comes on the eve of the pivotal midterm elections.

The high court refused to intervene in a case involving 20,000 people the Republican administration flagged as likely noncitizens on the largely Democratic state’s voter rolls.

It was the latest in a flurry of election-related litigation the day before the midterm elections, which will decide control of Congress for the last two years of Trump’s second term.

In California, the Trump administration had asked the high court to set aside the challenged ballots until the voters’ citizenship status could be verified. But officials there said the list appeared to be filled with errors and that setting the ballots aside could effectively disenfranchise legal voters.

▶ Read more

President Trump stood silently Monday while triumphant music played as he held up a poster showing an image of the algae-clogged pool in front of the Lincoln Memorial.

It was the final moment of his last big speech before Election Day, far away from the campaign trail where Republicans were trying to make their case to voters to hang onto control of Congress.

The president’s decision to spend the day before the pivotal midterms showing off his renovations in the nation’s capital instead of barnstorming around the country was a puzzling way to pitch America on keeping his party in power.

“It starts just with the setting being bizarre and being very self-focused,” said Doug Heye, a Republican strategist. “And then you had the pictures and the posters on the easels and all of that — none of which help a single undecided voter in the last day of the elections move to the Republican Party.”

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Robert C. Rowland, a professor of rhetoric at the University of Kansas, said he was puzzled by Trump’s decision to deliver his remarks in front of the Reflecting Pool when the renovations, plagued with issues, were “widely viewed as a boondoggle, as a failure.”

“I’m surprised he wasn’t in working-class districts with Republicans who are in difficult races,” said Rowland, who read news coverage of the address but did not watch it. Rowland said Trump’s message to voters was about “what I, the president, have accomplished in a place where most of you don’t live.”

Election officials in Arizona’s largest county say they’ve talked to the Justice Department after learning that one of its election monitors sent to observe Arizona’s primaries pleaded guilty to hacking Florida election websites in 2016.

“We’ve asked that the DOJ not send felons or anyone who have committed elections-related crimes, and they’ve told us that that’s not something that will happen in the future,” said Zach Schira, Maricopa County’s assistant county manager who oversees elections, during a news conference.

The election monitor, David Levin, pleaded guilty to a misdemeanor in 2016 for hacking a county elections website and the Department of State Division of Elections website in Florida, court documents show.

Federal election monitors are expected to observe the voting process in all 50 states on Tuesday. The Justice Department has said they won’t interfere with voting.

GOP House Speaker Mike Johnson, rallying voters in a red-leaning Virginia congressional district with an unusually competitive contest this year, said Monday that polls suggesting Democrats have an edge in key congressional races aren’t registering Republican enthusiasm on the ground.

“I’m telling you: Dismiss the polls; dismiss the pundits,” Johnson told an energetic crowd gathered Monday at a restaurant in suburban Richmond to support incumbent GOP Rep. Rob Wittman.

Wittman faces Democrat Shannon Taylor, an elected prosecutor, in what’s widely seen as the toughest reelection campaign of his long career. Wittman has served nearly 20 years in Congress representing Virginia’s 1st District. Johnson touted that deep experience Monday and called Wittman a good man, a “steady hand at the wheel” and a hard worker, and he predicted Wittman would win reelection Tuesday.

Trump for weeks has said he has no plans to carry out new strikes on Iran before Tuesday’s midterm elections in the United States.

The vice president said the Republican administration’s foremost concern is Iran agreeing to take substantive action on its nuclear program.

“We want to make sure they don’t rebuild it or try to rebuild it. That’s what matters most to the United States,” Vance said. “I think, you know, the thing I picked up is they care a lot, obviously, about their sovereignty. They care a lot about economically rebuilding. We do think that there is a pathway there, but it really does require a firm commitment and a verifiable commitment that they don’t rebuild that nuclear program.”

Vice President JD Vance offered measured optimism that a deal can be struck to avert the U.S. military making good on Trump’s threat to carry out new strikes on Iran.

“We’ve had a number of good conversations with the Iranians,” Vance told reporters Monday after returning to Washington following campaign stops in New York and Ohio. “I actually just spoke with the president of the United States about an hour ago about this. Look, the president and I both feel pretty good about the prospects for potentially coming to a negotiated settlement. We’re going to keep on working at it.”

Vance sent a letter to Iran’s security chief, Mohsen Rezaei, last week, but the White House has offered scant details about the contents of that correspondence. Trump told reporters that letter was focused on assisting Iran with “medical supplies and various things.”

A federal judge on Monday ordered the Trump administration to stop demanding that California election officials set aside ballots from 20,000 people the Department of Justice says might be noncitizens.

The ruling by Chief Judge James Boasberg is the latest against the administration’s push to force California to separate ballots from people on a list of possible noncitizens. California officials say the demand comes too close to the election, with millions of ballots already cast, and that the list is riddled with errors.

Boasberg ruled that the administration’s demands violate the U.S. Constitution.

“The Executive Branch has likely violated the Constitution’s Elections Clause, which commits authority over election rules to the states and Congress alone,” wrote Boasberg, who’s based in Washington.

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The president, during remarks at the Reflecting Pool, expressed hope that the American electorate would weigh Monday’s “plunge” in oil prices as they cast their ballots.

Oil prices dropped sharply on Monday amid renewed diplomatic efforts to end the war between the U.S. and Iran, now in its ninth month, that appeared to show signs of headway. Rising prices at the pump, a byproduct of the war, have loomed large over the midterm elections.

“I hope people realize that when they go into the voting booth, because we had to stop Iran from having a nuclear weapon,” Trump said, remarking on the oil prices. “If we allowed Iran to have a nuclear weapon, this country could never function the same way.”

Brent crude was down about 7.5% on Monday, with a barrel trading around $104.98. That’s still far above the $70 mark it was trading at in the days before the war.

Trump spent several minutes of his nearly hourlong closing pitch to voters highlighting his achievements cleaning up the nation’s capital, even though its residents have no voting representation in Congress.

Voters in the District of Columbia on Tuesday will elect a nonvoting delegate in the House, who can propose legislation and vote in committees but can’t vote on final legislation.

They’ll also elect two “shadow” senators and one “shadow” representative to lobby for statehood for the district.

Home to nearly 700,000, the city has more residents than Wyoming and Vermont.

Trump returned to the White House after the speech.

The president talked about his plans for building a triumphal arch and renovations for a public golf course, but also floated the idea of a “promenade” that would let people walk from the Lincoln Memorial to the Potomac River.

“It’s a great architectural concept, simple and beautiful and white stone,” Trump said. He added that it hearkened back to the idea that the river would be the original entrance to the memorial, but the area had gotten “cluttered” with roadways and other projects.

Trump said he is also looking at lists of names for statues of historic figures that would be in a garden of heroes.

“We have a lot of great things planned for Washington,” Trump said, adding that he didn’t have the time to discuss all his plans for the country.

After 20 minutes devoted to his D.C. construction projects, Trump said Tuesday’s elections could be the most important midterms “in our lifetime.”

The president tried to portray his political rivals as extremists, claiming that Democrats had “nominated the most extreme and dangerous slate of candidates in American history.”

The Democrats have seen their chances of winning control of the House and Senate improve because of public frustration over Trump’s inability to bring down inflation and his decision to launch the Iran war.

But Trump cautioned that sitting presidents usually struggle in the midterm elections as he said the U.S. has its most secure borders and largest income tax cuts in the nation’s history.

“For some reason, the sitting president doesn’t win the midterms,” Trump said. “But we gave this a very strong shot.”

About 1,100 customers lost power earlier Monday after the city’s fire department said it was responding to reports of smoke coming from maintenance holes in the downtown Washington area.

Pepco, the electricity provider in Washington, is still investigating what caused the outage, according to spokesperson Jessica Babb.

Power has been restored to all customers, she added.

In a speech to mark the reopening of the Lincoln Memorial Reflecting Pool after repairs, Trump joked that he would rename it after himself.

The president is speaking about the troubled repairs to the pool, which he said was damaged by vandals despite an admission in court that shoddy renovations commissioned by Trump caused its shuttering.

The president has chosen this site to address voters on the final day before the Tuesday midterm elections, which will determine control of the House and Senate.

Shannon Taylor, the prosecutor seeking to oust longtime Republican Rep. Rob Wittman in Virginia’s 1st Congressional District and help Democrats flip control of the U.S. House, says voters are fired up and demanding change in this year’s midterm election.

Taylor held a news conference Monday in suburban Richmond, where she said voter enthusiasm and early voting trends leave her confident she’s headed to victory Tuesday.

“People are mad, and people want to see change,” said Taylor, who has run on an anti-corruption platform and focused on the cost of living.

Wittman, who has been in Congress for nearly two decades and touted his experience during this race, was scheduled to campaign later Monday with House Speaker Mike Johnson. Taylor said Johnson’s visit to a district that’s long leaned red highlights the struggles Republicans face this year.

Flooding in the Southwest has forced a Colorado tourist town to alter its Election Day voting plans.

In Pagosa Springs, town residents impacted by the floods who haven’t voted yet can “visit any voter center across the state to request and receive a replacement ballot,” the Secretary of State’s office said in a news release.

People who cast in-person ballots outside their home county can vote only for statewide races, the office said. But if they have access to their mail ballot, they can return it to any drop box or voter center in the state by 7 p.m. on Election Day, and it will be sent to their county clerk for signature verification and tabulation, the office said.

Voting centers will still be open in La Plata County, but some county offices, including the clerk’s office, will have special hours on Tuesday.

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Vice President JD Vance campaigned in rural upstate New York, disparaging Democrats as “lunatics” and warning that failing to elect Republicans could lead to a leftward swing for the country.

Speaking in an airport hangar in the town of Rome, Vance also touted Trump’s achievements, pointing to legislation he signed to end taxes on tips and overtime, even as the president’s approval ratings on the economy slipped to 25% last month.

He stumped for two Republicans running for Congress but did not talk about Bruce Blakeman, the Republican competing to unseat Democratic Gov. Kathy Hochul.

Vance said voters could send a message to Democrats “that here in the New York 21st Congressional District, we are fighting for people who love the United States of America, not those who hate it.”

“If we’re nervous about where we’re going to go from here, go vote,” Michigan Democratic Senate candidate Abdul El-Sayed said Monday at a campaign event in Ypsilanti.

El-Sayed spent the final day before the election campaigning alongside fellow Michigan Democrat Debbie Dingell and Massachusetts Democratic Sen. Elizabeth Warren.

Much of his speech focused on getting corporate money out of politics and establishing universal Medicare.

Haley Stevens, whom El-Sayed defeated in the August Democratic primary, endorsed Republican Senate candidate Mike Rogers on Sunday, exacerbating tensions among Democrats on the eve of the midterm elections that will determine control of Congress.

The Trump administration appealed to the U.S. Supreme Court on Monday in its push to sideline thousands of disputed California mail ballots the day before the pivotal midterm elections.

The emergency appeal came after an appeals court rejected the request to set aside some 20,000 ballots from people the federal government suspects may not be citizens. The Republican Trump administration has prioritized identifying noncitizen voters this year, despite them being rare.

The federal government says those ballots should not be counted until the voters’ status can be verified. California officials say the list is highly unreliable and likely includes many people who are U.S. citizens.

A district court judge forcefully denied the Justice Department’s request and warned that the demand could disenfranchise citizens in the Nov. 3 midterm elections to determine control of Congress.

The stakes in Tuesday’s midterm elections are so high that Shane Dunn voted for the first time in his life, at age 65.

After a career as a cook up and down the East Coast, Dunn moved to the Philadelphia suburbs and voted last week in Levittown. “I was always a busy man,” he said outside his polling place. But now, “I’m learning what’s going on within our country, and this is actually what brought me out.”

Voters across the United States are getting their word in, too, as they determine which party controls the Senate and the House and takes charge of governors’ offices, legislatures and state leadership posts in the final two years of Trump’s presidency.

In dozens of Associated Press interviews with people who cast ballots at advance polling places or drop boxes across the country, the angst was palpable, most sharply from those who oppose Trump but also from many who support him.

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For Trump, this week’s elections are about him. For his fellow Republicans, the risk is voters will agree.

Midterms almost always serve as a referendum on the president’s party, and losses typically ensue. But Trump’s decisions to impose tariffs, start a war and oversee extravagant Washington renovations — largely without congressional consultation — have made it harder for Republicans to navigate those historical headwinds.

There is a direct connection between his actions and higher gas prices, costlier groceries and persistently high inflation.

Republicans cannot blame the fallout from those decisions on past administrations when Trump has owned them so fulsomely. They also cannot easily distance themselves from an unpopular president who demands loyalty and routinely tells voters the economy is just fine.

At virtually every juncture before Election Day on Tuesday, Trump has complicated the task of protecting Republican majorities in Congress.

The Iran war is “making it exponentially harder for Republicans to keep the House and Senate,” Rep. Derrick Van Orden of Wisconsin, one of the most vulnerable House Republicans, said in a debate while noting his support for the effort.

President Donald Trump speaks in front of the Lincoln Memorial Reflecting Pool, Monday, Nov. 2, 2026, in Washington. (AP Photo/Mark Schiefelbein)

President Donald Trump speaks in front of the Lincoln Memorial Reflecting Pool, Monday, Nov. 2, 2026, in Washington. (AP Photo/Mark Schiefelbein)

President Donald Trump speaks in front of the Lincoln Memorial Reflecting Pool and Washington Monument, Monday, Nov. 2, 2026, in Washington. (AP Photo/Mark Schiefelbein)

President Donald Trump speaks in front of the Lincoln Memorial Reflecting Pool and Washington Monument, Monday, Nov. 2, 2026, in Washington. (AP Photo/Mark Schiefelbein)

President Donald Trump speaks at a campaign rally at the Salina Regional Airport, Sunday, Nov. 1, 2026, in Salina Kan. (AP Photo/Jacquelyn Martin)

President Donald Trump speaks at a campaign rally at the Salina Regional Airport, Sunday, Nov. 1, 2026, in Salina Kan. (AP Photo/Jacquelyn Martin)

President Donald Trump walks across the South Lawn of the White House after stepping off Marine One, Monday, Nov. 2, 2026, in Washington. (AP Photo/Allison Robbert)

President Donald Trump walks across the South Lawn of the White House after stepping off Marine One, Monday, Nov. 2, 2026, in Washington. (AP Photo/Allison Robbert)

President Donald Trump walks across the South Lawn of the White House after stepping off Marine One, Monday, Nov. 2, 2026, in Washington. (AP Photo/Allison Robbert)

President Donald Trump walks across the South Lawn of the White House after stepping off Marine One, Monday, Nov. 2, 2026, in Washington. (AP Photo/Allison Robbert)

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