HAMILTON LANE INCORPORATED REPORTS STRONG FOURTH FISCAL QUARTER AND FISCAL YEAR 2025 RESULTS, WITH MANAGEMENT AND ADVISORY FEES GROWING BY 14% AND ASSETS UNDER MANAGEMENT GROWING BY 11% YEAR-OVER-YEAR CONSHOHOCKEN, PENN. – May 29, 2025 – Leading private markets asset management firm Hamilton Lane Incorporated (Nasdaq: HLNE) today reported its results for the fourth fiscal quarter and full fiscal year ended March 31, 2025. FISCAL YEAR 2025 HIGHLIGHTS Hamilton Lane issued a full detailed presentation of its f ...

EXHIBIT 99.1 CONTACT: ICR, Inc. MOVADO GROUP, INC. ANNOUNCES FIRST QUARTER FISCAL 2026 RESULTS ~ Net Sales of $131.8 million ~ ~ Operating Income of $0.3 million and Adjusted Operating Income of $0.9 million ~ ~ EPS of $0.06 and Adjusted EPS of $0.08 ~ ~ Board Approves Quarterly Dividend of $0.35 Per Share ~ Paramus, NJ – May 29, 2025 -- Movado Group, Inc. (NYSE: MOV) today announced first quarter fiscal 2026 results for the period ended April 30, 2025. Fiscal 2026 First Quarter Highlights Efraim Grinberg, ...

Financial Performance - Total sales increased by 6% year-over-year to $2,500 million, while comparable store sales remained flat[4] - Net income for the first quarter was $101 million, with diluted EPS of $1.58, compared to $79 million and $1.22 per share in the same quarter last year[9] - Adjusted EPS rose by 18% to $1.67, exceeding guidance, while adjusted EBIT margin increased by 30 basis points[6] - Net sales for the three months ended May 3, 2025, were $2,500,075, an increase of 6.05% from $2,357,318 for the same period in 2024[24] - Total revenue for the same period was $2,504,020, up 6.03% from $2,361,553 in the prior year[24] - Net income increased to $100,833, representing a 28.5% rise from $78,514 in the previous year[24] - Diluted net income per share rose to $1.58, compared to $1.22 for the same period last year, marking a 29.5% increase[24] - Adjusted Net Income for the three months ended May 3, 2025, was $102,582, up from $86,813, reflecting an increase of 18.2%[37] - Adjusted EBITDA for the same period was $238,103, an increase of 12.6% from $211,361 in the prior year[37] - The total net income for the fiscal year ended February 1, 2025, is $503,639,000[38] Inventory and Capital Expenditures - Merchandise inventories increased by 15% to $1,315 million, while comparable store inventories decreased by 8%[7] - Capital expenditures are projected to be approximately $950 million, with plans to open around 100 net new stores[14] - The company incurred $409,700 in capital expenditures during the three months ended May 3, 2025, compared to $164,837 in the same period last year[28] Liquidity and Debt - The company ended the quarter with $1,119 million in liquidity and $1,652 million in total debt[10] - Cash and cash equivalents decreased to $371,092 from $742,332 at the end of the same period last year, a decline of 50%[28] - Total assets as of May 3, 2025, were $8,549,897, a decrease from $8,770,413 at the end of the previous quarter[26] - Total current liabilities decreased to $1,956,841 from $2,097,322 in the same period last year, a reduction of 6.7%[26] Tax and Shareholder Returns - The effective tax rate decreased to 24.1% from 28.4% in the prior year[9] - The company has authorized an additional $500 million for share repurchases, effective through May 2027[10] - The effective tax rate on a GAAP basis for Q1 2025 is 24.1%, down from 28.4% in Q1 2024[38] - The tax effect of adjustments for Q1 2025 is $(1,336,000), reflecting the impact of various excluded items[40] Adjusted Financial Metrics - Adjusted Net Income for Q1 2025 is $77,487,000, compared to $73,760,000 in Q1 2024[38] - Adjusted Earnings per Share (EPS) for Q1 2025 is $1.20, while it was $1.14 in Q1 2024[38] - The net favorable lease costs for Q1 2025 amount to $3,138,000, contributing to the adjusted net income[38] - The company recorded litigation matters costs of $1,925,000 in Q1 2025, impacting the net income[39] Other Financial Adjustments - The company incurred impairment charges of $12,921,000 during the fiscal year ended February 1, 2025[38] - The loss on extinguishment of debt for the fiscal year ended February 1, 2025, is $1,412,000[39]

Business Overview - Royal Bank of Canada reported a diversified business model with over 19 million clients across Canada, the U.S., and 27 other countries[23]. - The company emphasizes a purpose-driven, principles-led approach to delivering leading performance, supported by over 97,000 employees[23]. - The company completed the HSBC Canada transaction on March 28, 2024, which has been consolidated into its financial results[25]. - The HSBC Canada transaction completed on March 28, 2024, has significantly impacted results, balances, and ratios for all reported periods[1]. Financial Performance - Total revenue for the three months ended April 30, 2025, was $15,672 million, a decrease of 6.4% from $16,739 million in the same period last year[25]. - Net income for the three months ended April 30, 2025, was $4,390 million, down 14.5% from $5,131 million in the same period last year[25]. - Earnings per share (EPS) – basic was $3.03 for the three months ended April 30, 2025, compared to $3.54 in the same period last year, a decrease of 14.4%[25]. - Total revenue for Q2 2025 was $15,672 million, up $1,518 million or 11% from Q2 2024, driven by higher net interest income and the inclusion of HSBC Canada revenue[56]. - Net income for Q2 2025 was $4,390 million, up $199 million or 14% year-over-year, with $93 million attributed to the inclusion of HSBC Canada results[108]. - Net income for the six months ended April 30, 2025, was $9,521 million, an increase of $1,989 million or 26% compared to the same period last year[50]. Credit Losses and Provisions - Provision for credit losses (PCL) increased to $1,424 million for the three months ended April 30, 2025, compared to $1,050 million in the previous year, reflecting a rise of 35.6%[25]. - Total PCL increased by $504 million or 55% from a year ago, primarily due to higher provisions in Commercial Banking and Personal Banking[71]. - PCL (Provision for Credit Losses) increased by $190 million or 41%, primarily due to higher provisions on performing loans in Canadian portfolios[111]. - PCL increased by $214 million or 23%, mainly due to higher provisions on impaired loans in Canadian personal and credit card portfolios[117]. Segment Performance - Personal Banking segment reported a net income of $1,573 million with an ROE of 23.1% for Q2 2025[97]. - Commercial Banking segment net income was $578 million with an ROE of 12.1% for Q2 2025[97]. - Wealth Management segment achieved a net income of $906 million with an ROE of 14.6% for Q2 2025[97]. - Insurance segment reported a net income of $209 million with an ROE of 42.0% for Q2 2025[97]. Revenue and Income Trends - Non-interest income for the six months ended April 30, 2025, was $16,407 million, reflecting a significant increase from $14,684 million in the same period last year[55]. - Net interest income increased by $1,433 million or 22% year-over-year, with $377 million attributed to HSBC Canada and a 16% increase from average volume growth in Personal Banking and Commercial Banking[57]. - Total revenue for the six months ended increased by $920 million or 28%, with $578 million from HSBC Canada revenue[127]. - Canadian Wealth Management revenue increased by $292 million or 21%, attributed to higher fee-based client assets and net interest income[133]. Taxation - The effective income tax rate increased to 20.4%, up 60 bps, influenced by changes in earnings mix and new legislation[86]. - Income tax expense increased by $688 million or 39% compared to Q2 2024, with adjusted income tax expense rising by $568 million or 29%[89]. Market and Economic Conditions - Euro area GDP rose by 0.3% in Q1 2025, following a 0.2% increase in Q4 2024, with expectations of slow but positive growth for the remainder of the year[34]. - The International Monetary Fund (IMF) projected global growth of 2.8% for 2025, down 0.5% from its January forecast, indicating significant global economic uncertainty[38]. - The U.S. dollar has depreciated by approximately 5% since mid-January 2025, based on the trade-weighted U.S. dollar index[35]. Risk Factors - Forward-looking statements in the Q2 2025 Report include financial performance objectives and strategic goals, subject to various risks and uncertainties[17]. - The report highlights the importance of considering risk factors that could cause actual results to differ materially from expectations[20]. - The company cautions against placing undue reliance on forward-looking statements due to inherent risks and uncertainties[20]. - Additional information regarding the company's financial performance and risk factors can be found in the 2024 Annual Report and the Q2 2025 Report to Shareholders[22]. Regulatory and Compliance - Regulatory developments are being monitored to ensure compliance and mitigate adverse business impacts, as outlined in the 2024 Annual Report[37].

Revenue and Income - Revenue for the three months ended April 30, 2025, was $9.8 billion, an increase of 8% year-over-year[149]. - Total revenues for the three months ended April 30, 2025, were $9,829 million, an increase of 8% compared to $9,133 million in the same period of 2024[177]. - Income from operations for the same period was $1.9 billion, with an operating margin of approximately 20%, up from 19% in the prior year[149]. - Net income for the three months ended April 30, 2025, was $1,541 million, representing 16% of total revenues, slightly down from 17% in Q1 2024[177]. - Diluted net income per share for the same period was $1.59, compared to $1.56 from a year ago[157]. Performance Obligations - Total remaining performance obligation as of April 30, 2025, was approximately $60.9 billion, an increase of 13% year-over-year[157]. - Current remaining performance obligation was approximately $29.6 billion, reflecting a 12% increase year-over-year[157]. - Remaining performance obligation as of April 30, 2025, was $60.9 billion, down from $63.4 billion as of January 31, 2025[178]. Cash Flow and Liquidity - Cash provided by operations for the three months ended April 30, 2025, was $6.5 billion, an increase of 4% year-over-year[157]. - For the three months ended April 30, 2025, net cash provided by operating activities was $6.476 billion, an increase from $6.247 billion in the same period of 2024[200]. - As of April 30, 2025, the company had total liquidity of $17.4 billion in cash, cash equivalents, and marketable securities, along with accounts receivable of $4.4 billion[197]. - Cash, cash equivalents, and marketable securities increased to $17,408 million as of April 30, 2025, compared to $14,032 million at the end of January 2025[178]. Expenses and Profitability - The cost of revenues for the three months ended April 30, 2025, was $2,265 million, representing 23% of total revenues, compared to 24% in the same period of 2024[187]. - Gross profit for the three months ended April 30, 2025, was $7,564 million, which is 77% of total revenues, compared to 76% in Q1 2024[177]. - Operating expenses totaled $5,622 million for the three months ended April 30, 2025, consistent at 57% of total revenues, compared to the same period in 2024[189]. - Research and development expenses for the three months ended April 30, 2025, were $1,460 million, maintaining 15% of total revenues, with a 10% increase in headcount[189]. Shareholder Returns - During the three months ended April 30, 2025, the company repurchased approximately 10 million shares for approximately $2.7 billion[157]. - The company paid approximately $402 million in dividends during the same period[157]. - The company announced a dividend of $0.416 per share for the three months ended April 30, 2025, totaling $406 million[212]. - The company authorized a Share Repurchase Program totaling $30 billion, with $7.9 billion remaining for future repurchases as of April 30, 2025[210]. Strategic Investments and Acquisitions - The company plans to acquire Informatica Inc. for approximately $8 billion, which will be funded through a combination of new debt and cash on hand[216]. - Losses on strategic investments for the three months ended April 30, 2025, were $63 million, a significant decline from gains of $37 million in Q1 2024[195]. - The company incurred $36 million in restructuring costs primarily related to employee transitions during the three months ended April 30, 2025[195]. Tax and Regulatory - The company recorded a tax provision of $433 million on pretax income of $2.0 billion for the three months ended April 30, 2025, resulting in an effective tax rate of 22%, up from 18% in 2024[196]. - The effective tax rate for the three months ended April 30, 2025, was 22%, up from 18% in the same period of 2024, primarily due to lower excess tax benefits from stock-based compensation[196]. Market Trends and Future Outlook - The buying environment trends have stabilized, but economic unpredictability may impact future growth[150]. - The company expects to continue investing in infrastructure to scale operations and enhance security measures, with no significant changes to future payment estimates under fixed contractual obligations[214]. - Future cash payments related to restructuring initiatives are expected to be between $160 million and $190 million, primarily for workforce costs[215].

Financial Position - As of April 30, 2025, cash and cash equivalents were $2.697 billion, down from $3.238 billion as of October 31, 2024[211] - Total debt increased to $10.737 billion as of April 30, 2025, compared to $9.669 billion as of October 31, 2024[211] Cash Flow Activities - Net cash provided by operating activities decreased by $0.3 billion to $412 million for the six months ended April 30, 2025, primarily due to an unfavorable cash conversion cycle[212] - Net cash used in investing activities increased by $0.9 billion to $1.133 billion for the six months ended April 30, 2025, mainly due to collateral posted for derivative instruments[217] - Net cash provided by financing activities increased by $1.3 billion to $198 million for the six months ended April 30, 2025, primarily due to a $1.0 billion increase in proceeds from debt[218] Shareholder Returns - HP returned $0.7 billion to shareholders in the form of cash dividends of $0.5 billion and share repurchases of $0.2 billion during the six months ended April 30, 2025[219] Operational Efficiency - The cash conversion cycle improved by 12 days to (30) days as of April 30, 2025, compared to (42) days as of October 31, 2024[213] - Days of sales outstanding (DSO) decreased by 3 days to 30 days as of April 30, 2025, reflecting favorable revenue linearity[215] Pension and Restructuring Contributions - The company anticipates making contributions of approximately $15.0 million to non-U.S. pension plans and $17.0 million for U.S. non-qualified pension plan participants for the remainder of fiscal year 2025[227] - Future cash payments of approximately $0.3 billion are expected in fiscal year 2025 as part of the approved restructuring plans[228] Tax Liabilities and Partnerships - As of April 30, 2025, the company has approximately $1.1 billion in recorded liabilities related to uncertain tax positions[229] - The company has not engaged in transactions that create material relationships with unconsolidated entities or financial partnerships for off-balance sheet arrangements[230] - The company utilizes third-party arrangements for cash and liquidity management, providing liquidity to partners for working capital needs[231]

Workforce and Employee Engagement - As of March 31, 2025, the company had 633 full-time employees, with a high engagement score of 90%, significantly above the industry benchmark[37][41][43]. - The company has a diverse workforce, with over 70% of employees being women and over 40% being from diverse backgrounds[44]. Supply Chain and Sustainability - The company has developed a scalable, asset-light supply chain, primarily sourcing products from China, with additional sourcing from Thailand, Taiwan, Europe, and the United States[34]. - More than 85% of the company's products are produced in Fair Trade Certified™ facilities, reflecting its commitment to sustainability[47]. - The company is committed to reducing its carbon footprint and improving sustainability across its supply chain, including packaging and water usage[48][49]. - The company actively engages with suppliers on sustainability topics and is dedicated to responsibly sourcing sensitive ingredients[47]. Product Quality and Compliance - The company has a strong focus on product quality, formulating products without over 2,500 ingredients, compared to the FDA's restriction of 11 ingredients[46]. - The company does not rely on any single raw material, ensuring broad availability and regular quality testing for ingredient integrity[35]. - The company is subject to various federal, state, and international laws affecting online business operations, including consumer protection and data privacy regulations[65]. - Compliance with environmental, health, and safety regulations has not materially affected the company's capital expenditures or competitive position[66]. - The company relies on expert consultants for EU product registrations and compliance with regulations[64]. Financial Performance and Risks - Cash and cash equivalents increased to $148.7 million as of March 31, 2025, up from $108.2 million as of March 31, 2024[365]. - A hypothetical 1% increase or decrease in interest rates would result in an annualized change in interest expense of approximately $2.5 million[366]. - A 10% adverse movement in the Chinese Renminbi compared to the US dollar would negatively impact cost of sales and net income by approximately $42.0 million for the fiscal year ended March 31, 2025[368]. - The company does not have an active hedging program for foreign exchange risk, exposing it to potential losses from currency fluctuations[367]. Operational Insights - The company recognizes seasonal fluctuations in sales, with higher net sales typically occurring in the third and fourth fiscal quarters due to holiday purchasing[50]. - The company has invested in automation technologies for its distribution centers to enhance efficiency in picking, packaging, and scanning processes[36]. - The company operates as a single operating and reportable segment, with further details available in the consolidated financial statements[67]. - The company’s principal executive offices are located in Oakland, California, and its common stock is listed on the NYSE under the symbol "ELF"[68]. - The company makes its SEC filings available on its website, including Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q[69].

Financial Performance - For the fiscal year ended March 31, 2025, net earnings available to shareholders were $367.1 million, down from $628.7 million in the previous year[1] - For the fourth quarter ended March 31, 2025, the company reported net losses available to shareholders of ($82.3) million, compared to net losses of ($0.9) million for the same period last year[2] - Total revenues for the quarter ended March 31, 2025, increased to $1,233,509,000, up from $1,179,170,000 in the same quarter of 2024, representing a growth of approximately 4.6%[22] - For the year ended March 31, 2025, total revenues reached $5,828,665,000, a rise from $5,625,674,000 in 2024, marking an increase of approximately 3.6%[23] - The company reported a net loss available to common shareholders of $82,291,000 for the quarter ended March 31, 2025, compared to a loss of $863,000 in the same quarter of 2024[22] - Basic and diluted losses per share of Common Stock for the quarter were $0.46, compared to $0.05 in the prior year[22] - Earnings available to common shareholders for the year ended March 31, 2025, were $367,090,000, down from $628,707,000 in 2024, a decrease of approximately 41.6%[23] - Basic and diluted earnings per share of Non-Voting Common Stock for the year were $1.89, down from $3.22 in the previous year[28] Revenue and Occupancy - Self-storage revenues rose by $17.8 million, or 8.4%, in Q4 2025, and for the full year, they increased by $66.8 million, or 8.0%[4] - The total portfolio of average occupied rooms increased by 39,197, or 6.8%, compared to March 31, 2024, with a full-year increase of 35,441, or 6.2%[4] - Average monthly occupancy rate for owned storage locations in Q4 FY 2025 was 77.3%, down from 79.8% in Q4 FY 2024[16] - The average monthly number of occupied units increased to 613 in Q4 FY 2025 from 573 in Q4 FY 2024, a rise of 7%[16] Expenses and Depreciation - Total depreciation expense for Q4 FY 2025 was $253,178,000, an increase of 18.5% from $213,652,000 in Q4 FY 2024[15] - For the full year FY 2025, total depreciation expense reached $971,933,000, up 18.8% from $817,889,000 in FY 2024[16] - The company experienced a significant increase in depreciation expenses, which rose to $268,278,000 for the quarter, compared to $198,347,000 in the prior year[22] - Operating expenses for the quarter increased to $812,290,000, compared to $757,567,000 in the same quarter of 2024, an increase of about 7.2%[22] Debt and Financial Position - Total debt as of March 31, 2025, was $7,229.3 million, up from $6,929.6 million in the previous year[14] - The net debt to EBITDA ratio increased to 3.9 as of March 31, 2025, compared to 3.7 in the previous quarter[14] - Cash and credit availability at the Moving and Storage operating segment was $1,347.5 million as of March 31, 2025, down from $1,886.3 million in the previous year[9] - Cash and cash equivalents decreased to $988,828,000 from $1,534,544,000, a decline of 35.5% year-over-year[21] - The company reported total liabilities of $12,981,027,000 as of March 31, 2025, an increase of 9.2% from $11,886,313,000 in the previous year[21] Asset Growth - Total assets increased to $20,479,170,000 as of March 31, 2025, compared to $19,058,758,000 a year earlier, reflecting a growth of 7.4%[21] - Total property, plant and equipment, net increased to $15,112,600 thousand as of March 31, 2025, up from $13,423,957 thousand in the previous year, representing a growth of 12.6%[31] - Right-of-use assets, gross reached $21,004,679 thousand as of March 31, 2025, up from $18,185,784 thousand in the previous year, marking an increase of 15.5%[31] - Rental trucks value increased to $7,470,039 thousand as of March 31, 2025, compared to $6,338,324 thousand in the previous year, indicating a growth of 17.9%[31] Other Financial Metrics - Adjusted EBITDA for the trailing twelve months as of March 31, 2025, was $1,619,714 thousand, slightly up from $1,614,146 thousand in the previous quarter, indicating stable operational performance[33] - Interest expense increased to $296,721 thousand for the quarter ending March 31, 2025, compared to $280,487 thousand in the previous quarter, showing a rise of 7.4%[33] - Other interest income decreased to $(59,489) thousand for the quarter ending March 31, 2025, compared to $(87,303) thousand in the previous quarter, indicating a decline of 31.8%[33] - Losses on disposals of real estate for FY 2025 amounted to $15,758,000, compared to $7,914,000 in FY 2024, indicating a significant increase in losses[16] - Net losses on disposal of real estate were reported at $15,758 thousand for the quarter ending March 31, 2025, up from $12,047 thousand in the previous year, representing an increase of 30.5%[33] Dividends - The company declared a cash dividend of $0.05 per share on March 5, 2025, paid on March 28, 2025[9] Transparency and Reporting - The company aims to enhance transparency in financial disclosures through the use of non-GAAP measures like Adjusted EBITDA, which provides a clearer view of core business operations[32]

Financial Performance - Net earnings available to shareholders for the year ended March 31, 2025, were $367.1 million, down from $628.7 million in the previous year[1] - For the quarter ended March 31, 2025, the company reported net losses available to shareholders of ($82.3) million, compared to net losses of ($0.9) million for the same period last year[2] - Earnings available to common shareholders for the year ended March 31, 2025, were $367,090,000, down from $628,707,000 in 2024, a decrease of approximately 41.6%[23] - The company reported a net loss available to common shareholders of $82,291,000 for the quarter ended March 31, 2025, compared to a loss of $863,000 in the same quarter of 2024[22] - Basic and diluted losses per share of Common Stock for the quarter were $0.46, compared to $0.05 in the prior year[22] - Net earnings available to common stockholders decreased to $367,090 in March 2025 from $448,518 in March 2024, reflecting a decline of about 18.1%[33] Revenue and Growth - Total revenues for the quarter ended March 31, 2025, increased to $1,233,509,000, up from $1,179,170,000 in the same quarter of 2024, representing a growth of approximately 4.6%[22] - For the year ended March 31, 2025, total revenues reached $5,828,665,000, a rise from $5,625,674,000 in 2024, indicating a growth of approximately 3.6%[23] - Self-storage revenues rose by $17.8 million, or 8.4%, in Q4 2025 compared to Q4 2024, and for the full year, it increased by $66.8 million, or 8.0%[4] - Self-moving equipment rental revenues increased by $29.0 million, or 4.1%, in Q4 2025, finishing the full year up $100.8 million, or 2.8% compared to fiscal 2024[4] Expenses and Depreciation - Total depreciation expense for Q4 FY 2025 was $253,178,000, an increase of 18.5% from $213,652,000 in Q4 FY 2024[15] - For the full year FY 2025, total depreciation expense reached $971,933,000, up 18.8% from $817,889,000 in FY 2024[16] - Operating expenses for the quarter increased to $812,290,000, compared to $757,567,000 in the same quarter of 2024, marking an increase of about 7.2%[22] - The company experienced a significant increase in depreciation expenses, which rose to $268,278,000 for the quarter, compared to $198,347,000 in the prior year[22] Assets and Liabilities - Total debt as of March 31, 2025, was $7,229.3 million, an increase from $6,929.6 million in the previous year[14] - Total assets increased to $20,479,170,000 in FY 2025 from $19,058,758,000 in FY 2024, reflecting a growth of 7.4%[21] - Cash and cash equivalents decreased to $988,828,000 in FY 2025 from $1,534,544,000 in FY 2024, a decline of 35.5%[21] - Cash and credit availability at the Moving and Storage operating segment was $1,347.5 million as of March 31, 2025, down from $1,886.3 million in 2024[9] Operational Metrics - The average occupied rooms increased by 39,197, or 6.8%, compared to March 31, 2024, and for the full year, it increased by 35,441, or 6.2%[4] - The company operated 799 self-storage units as of March 31, 2025, compared to 728 units a year earlier, representing a growth of 9.8%[16] - Average monthly occupancy rate for owned storage locations in Q4 FY 2025 was 77.3%, down from 79.8% in Q4 FY 2024[16] - The end of period occupancy rate based on unit count was 77.0% for Q4 FY 2025, down from 79.3% in Q4 FY 2024[16] Investments and Dividends - The company declared a cash dividend of $0.05 per share on March 5, 2025, paid on March 28, 2025[9] - The company added 20 new storage locations with 1.6 million net rentable square feet during the fourth quarter[4] Non-GAAP Measures - The company aims to enhance transparency in financial disclosures through the use of non-GAAP measures like Adjusted EBITDA, which provides a clearer view of core business operations[32] - Adjusted EBITDA for the trailing twelve months as of March 31, 2025, was $1,619,714, compared to $1,614,146 for the same period in 2024, showing a slight increase[33]

Company Operations and Growth - As of March 31, 2025, the company has 2,769 licensed real estate brokers and sales associates across its corporate and franchised offices[149]. - The company operates 26 corporate real estate brokerage offices and branches in Florida, California, Texas, Georgia, North Carolina, and Puerto Rico[148]. - The company completed its IPO on October 12, 2023, and has since acquired majority ownership of several franchisees, including La Rosa Realty North Florida LLC and La Rosa Realty Georgia LLC[156]. - The company plans to acquire additional franchisees and entities throughout 2025, actively searching for potential acquisition targets[158]. - The company has opened its first office in North Carolina, La Rosa Realty NC LLC, in December 2024, and formed LR Luxury, LLC, in January 2025[157]. - The company increased its agent count by 12.8%, from 2,454 at March 31, 2024, to 2,769 at March 31, 2025[177]. - The company’s business model is built on three pillars: Family, Passion, and Growth, which it believes will continue to attract high-performing realtors[155]. Financial Performance - Total revenue for the three months ended March 31, 2025, was $17,514,394, representing a 34% increase compared to $13,088,899 for the same period in 2024[192]. - Revenue from Real Estate Brokerage Services (Residential) increased by approximately $4.0 million, or 39%, driven by acquisitions completed in fiscal year 2024[193]. - Property Management revenue increased by approximately $432,000, or 172%, due to an increase in properties under management and a management fee price increase[196]. - Gross profit for the three months ended March 31, 2025, was $1,537,668, a 32% increase from $1,161,997 in the same period in 2024[197]. - Selling, general and administrative expenses increased by approximately $1.7 million, or 68%, primarily due to increases in professional fees and payroll[205]. - The company incurred stock-based compensation of approximately $1.9 million, mainly due to option grants to the CEO and consultants[206]. - Other expense, net increased by approximately $91.0 million, primarily due to a loss on issuance of a senior secured convertible note for $128.8 million[207]. - As of March 31, 2025, the company had a cash balance of $4.9 million and negative working capital of $94.0 million[208]. - Net cash used in operating activities for the year ended March 31, 2025, was $(3,493,029), compared to $(538,305) in 2024[214]. - For the three months ended March 31, 2025, the company experienced a net loss of $2.3 million, excluding stock-based compensation and other adjustments[215]. - Operating activities consumed $3.5 million in cash, primarily due to the net loss and changes in operating assets and liabilities[215]. - Financing activities provided net cash of $4.8 million, including net proceeds from an S-3 of $2.9 million and debt issuance of $2.9 million[217]. - Payments totaling $1.8 million were made towards notes payable, post-acquisition consideration, and advances on future receipts[217]. Compliance and Regulatory Issues - The company received a notice from Nasdaq on October 10, 2024, regarding non-compliance with the minimum bid price requirement, with a compliance period until April 8, 2025[159]. - The company is evaluating options to regain compliance with Nasdaq Listing Rule 5250(c)(1) after failing to timely file its Quarterly Report for the fiscal quarter ended March 31, 2025[162]. - The company has adopted new cybersecurity disclosure rules, requiring transparency in its cybersecurity risk management practices[186]. - The company is subject to various data protection regulations, and non-compliance could result in legal and financial penalties[188]. Market Conditions - The federal funds rate was reduced to 433 basis points in April 2025, impacting mortgage rates and housing demand[183]. - Existing-home sales fell 5.9% month-over-month to a seasonally adjusted rate of 4.02 million in March 2025, with a year-over-year decline of 2.4%[183]. - The company faces potential adverse effects on its financial condition due to recent legal challenges regarding real estate agent commissions, including a $418 million settlement by NAR[184]. Shareholder Actions - The company approved a new Share Repurchase Program, authorizing the purchase of up to $500,000 of its outstanding shares by December 31, 2025[174]. - The company issued 7,446,442 shares of common stock under an ATM Agreement for net proceeds of $2,919,192 during Q1 2025[176]. - The company plans to increase the number of authorized shares of common stock to 2 billion (2,000,000,000) shares[172]. - As of April 16, 2025, Joseph La Rosa no longer holds more than 50% of the voting power, resulting in the company no longer being classified as a "controlled company"[173]. Future Outlook - The company plans to continue expanding through acquisitions to achieve future profitability and will require additional capital to fund operations[213]. - The company is classified as a smaller reporting company and is electing scaled disclosure reporting obligations[218].