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La Rosa Holdings Corp. Reports Strong Q1 2025 Growth at Celebration, FL and BF Prime, Puerto Rico Offices Driven by Increased Agent Count, Revenue, and Transactions
Globenewswire· 2025-05-07 12:00
Core Insights - La Rosa Holdings Corp. reported strong growth in Q1 2025, particularly in its Celebration office in Florida and BF Prime in Puerto Rico, indicating robust performance in a typically slower season [1][4] Group 1: Performance Metrics - The Celebration office expanded its agent base by 412 agents year-over-year, resulting in a 101% increase in transaction volume and an 86% increase in revenue to $3.4 million compared to $1.8 million in Q1 2024 [2] - BF Prime, acquired in August 2024, added 55 new agents and achieved a 900% increase in transaction volume year-over-year, with revenue rising to $98 thousand from $27 thousand in Q4 2024, marking a 268% increase [3] Group 2: Strategic Outlook - The CEO emphasized the significance of growth within the Latino community as a key driver of success in both Florida and Puerto Rico, and expressed optimism about future expansion into Spain [4] - The company aims to continue its expansion into key markets while equipping agents with innovative tools, anticipating ongoing organic growth and agent expansion as part of its national and international strategy [4] Group 3: Company Overview - La Rosa Holdings Corp. operates 26 corporate-owned brokerage offices across multiple states and has begun its expansion into Europe, starting with Spain [7] - The company offers a flexible compensation model for agents, including revenue-sharing and fee-based structures, supported by a proprietary technology platform [5][6]
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
Newsfilter· 2025-04-16 12:00
Core Insights - La Rosa Holdings Corp. reported a significant increase in revenue and gross profit for the year ended December 31, 2024, with total revenue reaching $69.4 million, a 119% increase year-over-year, and gross profit increasing by 110% to $6.0 million [1][3][8]. Financial Performance - Total revenue for 2024 was $69.4 million compared to $31.8 million in 2023, marking a 119% increase [7][8]. - Residential real estate services revenue surged by $36.6 million to $57.0 million, representing a 179% increase from $20.5 million in 2023 [7][8]. - Gross profit rose by approximately $3.1 million, or 110%, to $6.0 million for 2024 from $2.8 million in 2023 [8]. - The company reported a net loss of $15.9 million for 2024, compared to a net loss of $9.3 million in 2023, with a loss per share of $(0.79) [9][19]. Strategic Initiatives - The company is expanding internationally, starting with Spain, to unlock new revenue opportunities and enhance its global presence [4]. - La Rosa Holdings has engaged in strategic acquisitions, completing eight acquisitions in 2024, which contributed to revenue growth [3][7]. - The company aims to achieve profitability in 2025 by expanding into new markets, acquiring additional brokerage firms, and leveraging technology for operational efficiencies [5]. Operational Highlights - The agent network has grown to over 2,500 agents, supported by a scalable, agent-first brokerage model that offers flexible compensation options [3]. - The introduction of the LR Agent Advance program provides agents with upfront access to pending commissions, creating an additional recurring revenue stream for the company [4]. - Selling, general, and administrative costs for 2024 were approximately $11.6 million, up from $4.8 million in 2023 [7]. Future Outlook - The revenue forecast for 2025 remains at $100 million, indicating confidence in the company's growth strategy [4]. - The company has received a 180-day extension from Nasdaq to comply with the minimum bid price rule, allowing time to execute strategic initiatives [4].