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La Rosa Holding Corp. Common Stock (symbol: LRHC) is a prominent player in the U.S. residential real estate market. The company, headquartered in Celebration, Florida, operates as a holding company for five agent-centric, technology-driven, cloud-based, multi-service real estate entities. These entities specialize in residential and commercial real estate brokerage, franchising, real estate education and coaching, and property management.
La Rosa’s business model is structured to provide comprehensive services to both real estate agents and the general public. The company’s operations are divided into five key segments: Real Estate Brokerage Services (Residential), Franchising Services, Coaching Services, Property Management, and Real Estate Brokerage Services (Commercial). Among these, the Residential Brokerage Services segment generates the majority of the company’s revenue.
The company’s unique approach focuses on creating multiple revenue streams for agents while enhancing their value proposition. This is achieved through a 100% commission model, less a small facilitation fee, allowing agents to maximize their earnings. This business model is complemented by La Rosa’s advanced technology, which not only aids agents but also provides significant value to consumers.
Recent achievements of La Rosa Holdings include substantial growth and expansion. The company has made six acquisitions since December 2023, adding to its 35 affiliate and franchise offices spread across California, Georgia, New York, Puerto Rico, South Carolina, and Florida. This strategic growth is supported by post-IPO capital, fueling ambitious expansion plans and enhancing the company’s national presence.
La Rosa Holdings’ innovative model has attracted significant attention and accolades in the real estate industry. The company was named one of the Top 75 Residential Real Estate Firms in the United States by the National Association of Realtors and received the “Top Workplace” award from the Orlando Sentinel in 2022. These recognitions reflect La Rosa’s commitment to excellence and its ability to foster a supportive and productive environment for its agents.
One of the key drivers of La Rosa’s success is its comprehensive support system for agents. This includes ongoing training, access to proprietary technology, and results-driven coaching. This support ensures that agents not only meet but exceed client expectations in today’s competitive digital age.
In terms of financial performance, La Rosa generated revenues of over $26.2 million in FY2022, marking an 8% increase from FY2020. The company’s growth trajectory is expected to continue as it leverages its innovative business model and strategic acquisitions.
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La Rosa Holdings (NASDAQ: LRHC) announced plans to offer Bitcoin and cryptocurrency payment options for its network of real estate agents. The initiative will allow agents to receive commission payments in digital assets, positioning La Rosa as one of the pioneering real estate companies in the U.S. to offer such an option.
The company aims to streamline transactions and modernize real estate practices through blockchain technology integration. La Rosa will implement a 2% fee for agents choosing cryptocurrency payments, potentially creating a new revenue stream. The company believes this offering will provide agents with faster, more secure transactions, lower fees, and potential benefits from digital asset appreciation.
La Rosa Holdings Corp. (NASDAQ: LRHC) has announced the opening of its first office in North Carolina, marking a strategic expansion into a growing real estate market. The state's real estate metrics as of October 2024 show positive trends: home prices increased 2.5% year-over-year, home sales rose 4.6%, and housing inventory grew 19.0%.
The company will introduce its agent-focused model offering 100% commission and revenue share plans, along with proprietary technology, training, and support services. This expansion aims to equip real estate professionals with tools to serve North Carolina's growing population and diverse housing demands.
La Rosa Holdings reported strong revenue growth in Q3 2024, with total revenue increasing 188% year-over-year to $19.6 million. For the first nine months of 2024, revenue grew 155% to $51.7 million, surpassing initial guidance by $6.7 million. The company's residential real estate services saw significant growth, up 328% to $16.5 million in Q3. Key achievements include acquiring seven real estate brokerage franchisees, completing the acquisition of Nona Title Agency, and onboarding over 400 agents since June 2024. The company is targeting a $100 million annualized revenue run rate by end of 2024. However, net loss increased to $3.4 million in Q3 2024 compared to $344,000 in Q3 2023.
La Rosa Holdings Corp. (NASDAQ: LRHC) has acquired the remaining 49% interest in La Rosa Realty Premier, bringing its total ownership to 100%. Realty Premier, located in Orlando, Florida, generated approximately $2.09 million in revenue with positive net income for 2023. The company provides residential and commercial real estate brokerage services, along with coaching and support services. Additionally, La Rosa has announced a Letter of Intent to acquire a brokerage firm with $19 million in revenue and over 950 agents. The company targets a $100 million annualized revenue run rate by end of 2024 and expects profitability in 2025.
La Rosa Holdings (NASDAQ: LRHC) announces its Growth Summit 2024 in Orlando, Florida, reaching full capacity with 500 attendees. The company will unveil advancements in its proprietary real estate technology, including a new lead generation solution, white labeling of JAEME AI assistant and My Agent Account ecosystem, and a preview of My Agent Account 4.0. The platform serves as a centralized hub for agents, featuring JAEME, an AI assistant for marketing and sales support. All La Rosa offices must pay a mandatory subscription fee for the platform. The summit will also include sessions on digital marketing, cryptocurrency transactions, and technology integration in real estate.
La Rosa Holdings (NASDAQ: LRHC), a holding company specializing in real estate services, has announced its participation in the LD Micro 17th Annual Main Event. The event will take place from October 28th to 30th, 2024, at the Luxe Sunset Boulevard Hotel in Los Angeles. CEO Joe La Rosa will deliver a presentation on October 29th at 12:00 PM PT/3:00 PM ET, which will be available via live webcast. The company, which operates six agent-centric, technology-integrated real estate segments, will also offer one-on-one meetings with investors during the conference.
La Rosa Holdings Corp. (NASDAQ: LRHC) reported preliminary unaudited revenue of $45 million for the first nine months of 2024, showing a 120% year-over-year growth. The company announced a Letter of Intent to acquire a real estate brokerage firm that generated over $19 million in revenue in 2023 and has more than 950 agents. La Rosa projects an annualized revenue run rate of $100 million by end of 2024 and expects profitability in 2025. Growth was driven by acquisitions of real estate brokerage franchisees and increased agent count.
La Rosa Holdings Corp. (NASDAQ: LRHC) has launched My Agent Account version 3.0, an upgraded proprietary platform featuring a new property management disbursement module. This update is expected to improve operational efficiency for agents by 50% by year-end. The platform has shown significant growth, with utilization increasing by 19% year-over-year and app downloads nearly doubling from 281 in 2023 to 574 in the first 9 months of 2024. The AI assistant JAEME has also seen increased usage, with hits rising from 864 in January to 1,400 in June 2024. La Rosa aims to continue building a proptech company, with version 4.0 set to launch in 2025, offering improvements in transaction management integration and streamlined processes.
La Rosa Holdings Corp. (NASDAQ: LRHC) has announced a debt restructuring with its noteholder, involving three outstanding notes issued in February, April, and July 2024. Key points of the restructuring include:
1. Repayment of $200,000 of the debt
2. Deferral of all principal and interest payments until February 1, 2025
3. Extension of maturity dates to August 1, 2025
4. Halting of note conversions unless the Company fails to comply or defaults
This restructuring is expected to reduce the Company's total debt under the notes by approximately 9.5%. La Rosa reaffirms its target of achieving a $100 million annualized revenue exit run rate for 2024, with profitability expected in 2025. The Company plans additional acquisitions by year-end, primarily funded with stock, and reports over 400 new agents onboarded since June 1, 2024.
La Rosa Holdings Corp. (NASDAQ: LRHC), a multi-service real estate company, has been invited to participate in the iAccess Alpha Buyside Best Ideas Fall Conference 2024 on September 24-25, 2024. CEO Joe La Rosa will host virtual one-on-one meetings with institutional investors and deliver a presentation on Tuesday, September 24, 2024, at 2:30 p.m. Eastern Time.
Investors can access the webcast of La Rosa's presentation through the provided link or on the company's website under the Events tab. The iAccess Alpha conference features companies recommended by investors, offering a unique opportunity for La Rosa to showcase its agent-centric, technology-integrated real estate services to potential investors.
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