Business
La Rosa Holdings Reports 155% Year-Over-Year Increase in Revenue to $51.7 Million for the First 9 Months of 2024; Surpassing Initial Revenue Guidance by Approximately $6.7 Million
Revenue for the Third Quarter of 2024 Increased 188% Year-Over-Year to $19.6 Million Targeting $100 Million Annualized Revenue as 2024 Exit Run Rate
About this update from La Rosa Holdings Corp.
[{"type":"text","content":"Revenue for the Third Quarter of 2024 Increased 188% Year-Over-Year to $19.6 Million Targeting $100 Million Annualized Revenue as 2024 Exit Run Rate CELEBRATION, Fla., Nov. 20, 2024 (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 provided a business update and reported financial results for the third quarter ended September 30, 2024. Key Financial Highlights Total revenue increased 188% year-over-year to $19.6 million for the third quarter ended September 30, 2024 from $6.8 million for the third quarter ended September 30, 2023Residential real estate services revenue increased $12.6 million to $16.5 million, or 328%, for the third quarter ended September 30, 2024 from $3.8 million for the third quarter ended September 30, 2023Property management revenue increased by approximately $341 thousand to $2.9 million, or 14%, for the third quarter ended September 30, 2024 from $2.5 million for the third quarter ended September 30, 2023Real Estate Brokerage Services (Commercial) revenue increased by approximately $34 thousand to $64 thousand, or 110% for the third quarter ended September 30, 2024 from $31 thousand for the third quarter ended September 30, 2023Total revenue increased approximately 155% year-over-year to $51.7 million for the nine months ended September 30, 2024 from $20.3 million for the nine months ended September 30, 2023; surpassing initial revenue guidance by approximately $6.7 MillionResidential real estate services revenue increased $30.7 million to $42.6 million, or 259%, for the nine months ended September 30, 2024 from $11.9 million for the nine months ended September 30, 2023Property management revenue increased by approximately $986 thousand to $8.2 million, or approximately 14%, in the nine months ended September 30, 2024 from $7.2 million for the nine months ended September 30, 2023Real Estate Brokerage Services (Commercial) revenue increased by approximately $149 thousand to $249 thousand, or 148% for the nine months ended September 30, 2024 from $100 thousand for the nine months ended September 30, 2023 Q3 2024 Operational Achievements Acquired seven real estate brokerage franchisees in the first nine months of 2024 fiscal yearCompleted acquisition of...