La Rosa Holdings Announces 2024 Revenue Restatement; Confirms No Impact to Gross Profit, Net Income or Cash Flow

About this update from La Rosa Holdings Corp.

Preliminary unaudited revenue increased 17% year-over-year to $68.6 million in 2025, compared to $58.6 million in 2024, despite restatement adjustments Celebration, FL, April 27, 2026 (GLOBE NEWSWIRE) -- La Rosa Holdings Corp. (NASDAQ: LRHC) (“La Rosa” or the “Company”), a real estate and PropTech enterprise, today announced a non-cash restatement of its previously reported revenue for fiscal 2024. The Company determined that its previously issued audited consolidated financial statements for the years ended December 31, 2024 should be revised due to the calculation of ASC 606 Gross vs. Net, with revenue adjusted to $58.6 million to properly reflect certain property management fee revenues generated by La Rosa Property Management, LLC. These adjustments reduce overall revenue by $10.8 million and cost of sale while leaving gross margin intact resulting in an increase to the percentage of gross margin for the company for the fiscal year ended December 31, 2024 from 8.57% to 10.14%. Additionally, the Company has revised its previously issued guidance for 2025 to $68.6 million to reflect the adjustment to revenue recognition. Despite these adjustments, La Rosa continues to deliver strong growth, with preliminary unaudited revenue increasing 17% year-over-year to $68.6 million for the year ended December 31, 2025, compared to $58.6 million for the year ended December 31, 2024. Importantly, the restatement has no impact on the Company’s gross profit, operating income, net income, shareholders’ equity, or cash flows. Joe La Rosa, CEO of La Rosa, commented, “This adjustment reflects a refinement in revenue recognition and presentation, not a change in the underlying strength of our business. Our profitability, cash generation, and overall financial position remain unchanged. Despite the restatement, we expect to achieve 17% year-over-year revenue growth, highlighting the continued momentum in our core operations. Gross profit remains unchanged, resulting in an increase in gross margin from 8.57% to 10.14% for the fiscal year ended December 31, 2024, and we expect a similar improvement in 2025.We intend to file our Annual Report on Form 10-K shortly.” “Additionally, we are progressing with our acquisition of Consensus Core Technologies, a provider of critical infrastructure solutions for artificial intelligence ("AI") and high-performance computing. The...

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