On Wednesday, La Rosa Holdings Corp (NASDAQ: LRHC) announced preliminary unaudited revenue for the first nine months of 2024, totaling an estimated $45 million.
This represents an approximately 120% increase in revenue year over year compared to the same period in 2023.
Also Read: EXCLUSIVE: La Rosa Restructures Debt, Defers Payments To Plan Expansion And Scale Revenue
Joe La Rosa, CEO of La Rosa, commented, "Our growth rate accelerated during the first nine months of 2024, driven by exceptional year-over-year performance, as compared to the same period in 2023, resulting from the acquisition of real estate brokerage franchises and an increase in agent count."
"We recently announced a Letter of Intent (LOI) to acquire a real estate brokerage firm that generated over $19 million in revenue for 2023 and has more than 950 agents across multiple states. The firm also offers a proprietary cloud-based Software-as-a-Service (SaaS) platform designed specifically for real estate agents," he added.
According to the CEO, the company aims for $100 million in annualized revenue run rate by the end of 2024 and plans to achieve profitability in 2025, driven by expanding revenue streams.
"We anticipate to achieve profitability in 2025, driven by expanding revenue streams, integration of new agents and technology, and a potential reduction in costs due the implementation of our expense management system in the near future," concluded Mr. La Rosa.
Price Action: LRHC stock closed higher by 1.26% at $0.4911 on Tuesday.
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