$La Rosa Holdings (LRHC.US)$ NEWS La Rosa Reports 117% Year-...
NEWS
La Rosa Reports 117% Year-Over-Year Increase in Revenue to $13.1 Million for the First Quarter of 2024
Positive
117% increase in total revenue year-over-year to $13.1 million.
Residential real estate services revenue increased by 211% to $10.2 million.
Acquisition of three brokerage franchisees in Q1 2024.
Additional franchisee with $4.7 million revenue acquired in April.
Launch of transparent negotiation platform in Florida and Georgia.
Opened a new office in Tampa Bay in January.
Targeting $100 million annualized revenue by end of 2024.
Negative
Net loss of $4.7 million for Q1 2024, up from $1.0 million in Q1 2023.
Increased selling, general, and administrative costs to $2.6 million from $1.0 million in Q1 2023.
36% decrease in total transaction volume despite acquisitions.
Increased costs linked to acquisitions and IPO-related expenses.
117% increase in total revenue year-over-year to $13.1 million.
Residential real estate services revenue increased by 211% to $10.2 million.
Acquisition of three brokerage franchisees in Q1 2024.
Additional franchisee with $4.7 million revenue acquired in April.
Launch of transparent negotiation platform in Florida and Georgia.
Opened a new office in Tampa Bay in January.
Targeting $100 million annualized revenue by end of 2024.
Negative
Net loss of $4.7 million for Q1 2024, up from $1.0 million in Q1 2023.
Increased selling, general, and administrative costs to $2.6 million from $1.0 million in Q1 2023.
36% decrease in total transaction volume despite acquisitions.
Increased costs linked to acquisitions and IPO-related expenses.
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