La Rosa FY24 Revenue Jumps 119%, CEO Reiterates FY25 Topline Goal Of $100 Million

Wednesday, La Rosa Holdings (NASDAQ: LRHC) presented a commercial update and financial results mentioned for the year ending December 31, 2024.

Total revenue increased by 119 % year on an annual basis to $ 69.4 million, and issued their initial estimate of $ 65 million.

Residential real estate services revenue increased by 179 % year on an annual basis to $ 57.0 million.

Also read: No Rosa settles on the concession of the beaches of La Rosa Realty Beaches

This increase was driven by $ 9.8 million of revenues from the nine acquisitions that were completed during the 2024 fiscal year and a full year of income from the six companies obtained in 2023.

Property management revenues increased by 15 % year on an annual basis to $ 11.1 million. The revenues of real estate (commercial) brokerage services increased by 183 % year on an annual basis to 328 thousand dollars.

Total profit increased by 110 % year on an annual basis to $ 6.0 million. The net loss amounted to $ 15.9 million, or a share profitability at $ 0.79, compared to a net loss of $ 9.3 million, or (1.27) Y/Y.

The CEO Joe La Rosa attributed the separate performance to the strategic acquisitions of the owners of concessions for real estate and growth in the agent network, which now exceeds 2500 agents. The developmental brokerage model and the first agent continue to attract the best talents by providing flexible compensation options.

La Rosa said that she recently started expanding internationally with the participation of the region’s developer in Spain. In addition, LR Agent Advance. This new program for its agents provides access to suspended commissions, supporting their growth with the generation of additional revenue flow for the company.

La Rosa said that Nasdak gave her a 180 -day extension to comply with the lower giving price base. The company is on the right track to close its pre -announced acquisition of a real estate brokerage company, which achieved the revenues of $ 19 million in 2023, and if completed, it is expected to bring a network of about 945 agents across several multiple states. Miscellaneous, La Rosa reiterated the 2025 revenue expectations worth $ 100 million.

La Rosa said that she is still focusing on achieving profitability in 2025 by expanding new markets, gaining additional mediation companies, developing the base of its agent, and benefiting from technology to push operational efficiency.

Price work: LRHC shares closed 0.50 % at $ 0.20 on Tuesday.

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