(Nasdaq: LRHC) Profile
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LRHC HAS 2,400+ AGENTS AND 35 OFFICES WORLDWIDE
La Rosa Holdings Corp. Reports 119% Year-Over-Year Increase in Revenue to $69.4 Million for Fiscal 2024; Surpassed Initial Revenue Guidance by Approximately $4.4 Million
La Rosa Holdings Corp. Strengthens Balance Sheet by Redeeming and Extinguishing a Large Portion of Outstanding Warrants
CHECK OUT THE INVESTOR PRESENTATION HERE
Hello Everyone,
We have another past winner back on our radar for tomorrow's session. Once upon a time back in 2023 this one was our biggest percentage gainer fo the entire year. A lot has happened since then .
Pull up LRHC right away and start your research. .
LRHC was established in 2004 as a comprehensive real estate services platform that seamlessly integrates residential brokerage, mortgage, title, and insurance services, bolstered by a cutting-edge educational support system.
The company boasts a distinctive brokerage model that places the agent at the center, providing them with a 100% commission structure.
Their strategic focus is to drive substantial growth through expansion, seizing the opportunities presented by the evolving trends in the agency model within the real estate industry.
La Rosa Realty’s core operations are primarily within the vast U.S. residential real estate market, which according to Zillow Research, reached a staggering $43.4 trillion in 2021. This marked a remarkable increase of $6.9 trillion since 2020 and more than doubled the levels seen a decade ago.
La Rosa Holdings’ serves as the holding company for a suite of agent-centric, technology-integrated, cloud-based, multi-service real estate companies.
The principal entity, La Rosa Realty, LLC, has earned its place in the “Top 75 Residential Real Estate Firms in the United States” as recognized by the National Association of Realtors (NAR), the leading trade association in the U.S. real estate industry.
The brainchild of the operation is CEO, Mr. Joseph La Rosa, a successful real estate developer, business and life coach, author, podcaster, and public speaker. The business is deeply rooted in his transformative philosophies of family, passion, and growth. Mr. La Rosa’s book, “Do It Now!“, serves as a roadmap to personal success and well-being, inspiring a community of successful realtors who have played a significant role in the business’s growth.
In addition to offering face-to-face residential and commercial real estate brokerage services to the public, the company strategically cross-sells technology-based products and services.
The business is structured around providing services to its agents and the public, encompassing residential and commercial real estate brokerage, franchising, real estate brokerage education and coaching, as well as property management.
The primary real estate brokerage operates under the name La Rosa Realty, complemented by a smaller presence under the licensed trade name Better Homes Realty.
The company has established five corporate real estate brokerage offices under the La Rosa Realty brand in Florida, along with 28 franchised real estate brokerage offices in six U.S. states and Puerto Rico.
Additionally, they have expanded globally with an international franchised office in Peru. These real estate offices, both corporate and franchised, are collectively staffed by over 2,380 licensed real estate brokers and sales associates.
La Rosa Holdings Corp. Reports 119% Year-Over-Year Increase in Revenue to $69.4 Million for Fiscal 2024; Surpassed Initial Revenue Guidance by Approximately $4.4 Million
Revenue for the Fourth Quarter of 2024 Increased 55% Year-Over-Year to $17.7 Million
Gross Profit Increased 110% Year-Over-Year to $6.0 Million in 2024
CELEBRATION, Fla., April 16, 2025 (GLOBE NEWSWIRE) -- La Rosa Holdings Corp.(NASDAQ: LRHC) (“La Rosa” or the “Company”), a real estate and PropTech company, today provided a business update and reported financial results for the year ended December 31, 2024.
Key Financial Highlights
- Total revenue increased 119% year-over-year to $69.4 million for the year ended December 31, 2024 from $31.8 million for the year ended December 31, 2023
- Residential real estate services revenue increased $36.6 million to $57.0 million, or 179%, for the year ended December 31, 2024 from $20.5 million for the year ended December 31, 2023
- Property management revenue increased by approximately $1.4 million to $11.1 million, or 15%, for the year ended December 31, 2024 from $9.7 million for the year ended December 31, 2023
- Real Estate Brokerage Services (Commercial) revenue increased by approximately $212 thousand to $328 thousand, or approx. 183% for the year ended December 31, 2024from $116 thousand for the year ended December 31, 2023
- Gross profit increased by approximately $3.1 million, or 110%, year-over-year, to $6.0 million for the year ended December 31, 2024 from $2.8 million for the year ended December 31, 2023.
Joe La Rosa, CEO of La Rosa, commented, “We are pleased to report a 119% increase in revenue for 2024 compared to 2023, and a 55% increase in Q4 2024 year-over-year compared to the same period in 2023. Gross profit also increased 110% to $6.0 million in 2024, driven by strategic acquisitions of real estate brokerage franchisees and growth in our agent network, which now exceeds 2,500 agents. Our scalable, agent-first brokerage model continues to attract top talent by offering flexible compensation options, including a revenue share program, a 100% commission structure with low fees, and additional income through ancillary services and technology solutions.
“We recently started expanding internationally with engagement of an area developer in Spain, unlocking new revenue opportunities and strengthening our global presence. In addition, we introduced LR Agent Advance, a new program that provides our agents with upfront access to pending commissions, supporting their growth while generating an additional recurring revenue stream for the Company.”
Mr. La Rosa continued, “Importantly, Nasdaq has granted us a 180-day extension to comply with the minimum bid price rule, giving us the necessary time to execute our strategic initiatives. We are on track to close our previously announced acquisition of a real estate brokerage firm, which generated $19 million in revenue in 2023 and, if consummated, is expected to bring a network of around 945 agents across multiple states. Significantly, our revenue forecast for 2025 revenue for $100 Million remains intact.
“Looking ahead, we are focused on achieving profitability in 2025 by expanding into new markets, acquiring additional brokerage firms, growing our agent base, and leveraging technology to drive operational efficiencies. We are confident in our strategy to deliver sustainable growth and maximize shareholder value,” concluded Mr. La Rosa.
The closings of the acquisitions mentioned in this press release are subject to, and contingent upon, the parties entering into their respective definitive agreements. There can be no assurances that these acquisitions will be consummated.
Financial Results
Total revenue for the year ended December 31, 2024, was $69.4 million compared to $31.8 million for the year ended December 31, 2023. Residential real estate services revenue increased by $36.6 million to $57.0 million, or 179%, in the year ended December 31, 2024, from $20.5 million for the year ended December 31, 2023. The increase was driven by $9.8 million of revenue from the eight (8) acquisitions completed during fiscal year 2024, in addition the increase was due to a full year of income from the six (6) acquired companies in 2023. Selling, general and administrative costs, excluding stock-based compensation, for the year ended December 31, 2024, were approximately $11.6 million, compared to $4.8 million for the year ended December 31, 2023. Net loss was $15.9 million, or $(0.79) basic and diluted loss per share, for the year ended December 31, 2024, compared to net loss of $9.3 million, or $(1.27) basic and diluted loss per share, for the year ended December 31, 2023.
INVESTMENT HIGHLIGHTS
- 2,400+ agents worldwide
- 35 offices worldwide
- Became a top 75 residential real estate company in the U.S. in 2016
Future Opportunity
- Offer additional services such as mortgage, title, homeowner’s insurance
- Organic growth and expansion to further locations in the U.S. and internationally
- Create or acquire additional proprietary technologies
Unique Business Model
- Services include: Residential & Commercial real estate brokerages, franchising, real estate education & coaching, property management
- Agent centric model
- Proprietary technology for training and marketing
Financial Strength
- History of profitability
- Solid balance sheet
- Strongly positioned to drive near-term and long-term shareholder value
La Rosa Holdings Corp. Strengthens Balance Sheet by Redeeming and Extinguishing a Large Portion of Outstanding Warrants
PUBLISHED
JAN 28, 2025 8:30AM EST
Celebration, FL, Jan. 28, 2025 (GLOBE NEWSWIRE) -- La Rosa Holdings Corp.(NASDAQ: LRHC) (“La Rosa” or the “Company”), a holding company for six agent-centric, technology-integrated, cloud-based, multi-service real estate segments, today announced that it has fully redeemed and extinguished all of its outstanding warrants (the “Warrants”) previously issued to an institutional accredited investor (the “Holder”). These Warrants, which were exercisable for 2,446,634 shares of common stock of the Company, have now been terminated in their entirety and are no longer exercisable, in accordance with the terms of the Warrant Redemption and Cancellation Agreement (the “Redemption Agreement”) signed by the parties on January 22, 2025.
The Company initially issued these Warrants under the securities purchase agreements dated April 1, 2024, and July 16, 2024, as previously disclosed in the Company’s Current Reports on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on April 5, 2024, and July 19, 2024.
Joe La Rosa, CEO of La Rosa, commented, “This milestone marks a significant step in our mission to streamline our capital structure and enhance shareholder value. By fully redeeming and extinguishing these Warrants, we are reinforcing our commitment to building a solid foundation for the Company’s sustained growth and long-term success. We believe there is a significant disconnect between the market valuation and the true value of the Company. As we focus on eliminating debt and strengthening our balance sheet, we remain dedicated to achieving profitability in 2025 by acquiring additional real estate brokerage firms, growing our agent network, and expanding into new markets."
In addition, Joe La Rosa, CEO of La Rosa Holdings Corp., will be featured in a podcast interview with Zack Morris on Wednesday, January 29th, 2025, at 4:00 PM EST. Click here to tune in.
The closings of the acquisitions mentioned in this press release are subject to, and contingent upon, the execution of definitive agreements and other related transaction documents by the parties, corporate approval and customary closing conditions. There can be no assurances that these transactions will be consummated.
NEWS
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La Rosa Holdings to Offer Bitcoin and Cryptocurrency Payment Options to its Real Estate Agents
Dec 23, 2024
La Rosa Holdings Launches its First Office in North Carolina
Dec 11, 2024
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La Rosa Holdings to Unveil Proprietary Technology Advancements at Growth Summit 2024
Nov 7, 2024
La Rosa Holdings to Present at the LD Micro Main Event XVII on October 29th
Oct 24, 2024
Oct 23, 2024
Oct 9, 2024
Sep 26, 2024
iAccess Alpha's Buyside Best Ideas Virtual Fall Conference September 24-25, 2024
Sep 20, 2024
Sep 18, 2024
MANAGEMENT TEAM
JOE LA ROSA
FOUNDER & CEO
- Board of Directors, NAR
- Muti Company Entrepreneur
- Life and business Development Coach
- Philanthropist
- 18 years real estate experience
KENT METZROTH
CHIEF FINANCIAL OFFICER
- Over 20 years of domestic and international experience in multiple industries
- Former SVP, Treasurer, Investor Relations & Business Finance of a multinational company
ALEX SANTOS
CHIEF TECHNOLOGY OFFICER
- BS Computer Science
- 25+ Years Web Development & Technology Solutions with experience creating secure and scalable web applications.
TIFFANY POLITE
DIRECTOR OF COACHING
- 5+ years in Real Estate industry as Agent and coach
- 10 years or management and coaching experience
PEDRO AGUILAR
DIRECTOR OF EDUCATION
- 7+ years in the Real Estate industry as Agent and coach
- 10+ years as Instructor for U.S. Marine Corps Recruiting to drive recruiting goals throughout nationwide Recruiting Stations
LISSETTE ORTOLANI
DIRECTOR OF RECRUITING
- Recruiter, manager and trainer within the real estate and insurance fields with over 10 years of experience
BRIAN KIRKWOOD
DIRECTOR OF MARKETING
- BS Business Administration
- 7 Years with The Walt Disney Company
- Development and implementation of brand and marketing identity for multiple companies
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