In This Story
reAlpha Tech Corp. (AIRE+2.03%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details reAlpha's operations as a real estate technology company focused on developing a commission-free homebuying platform utilizing AI technologies. The company aims to expand its platform, currently available in 20 counties in Florida, nationwide by the end of 2026.
During 2024, reAlpha acquired several companies, including AiChat Pte. Ltd., Be My Neighbor, and GTG Financial, to enhance its platform's capabilities and expand its service offerings in mortgage brokerage and title services across multiple U.S. states.
The company reported revenues of $948,420 for the fiscal year ended December 31, 2024, an increase from $256,436 in the previous year, attributed to the integration of acquired businesses. The cost of revenues increased to $302,084, reflecting the expenses associated with these acquisitions.
Operating expenses were reported at $7,548,950, slightly up from $7,522,178, primarily due to increased salary expenses and acquisition-related costs.
Net loss from continuing operations was $7,682,714, compared to a net loss of $2,145,055 in the previous year, largely due to a one-time gain from the sale of the myAlphie platform in the prior year.
The company recorded a loss from discontinued operations of $18,339,635, primarily due to the impairment of goodwill associated with its former rental business segment.
reAlpha's liquidity and capital resources indicate cash and cash equivalents of approximately $3.1 million as of December 31, 2024. The company anticipates the need for additional capital to fund operations beyond the second quarter of 2025.
The filing also highlights reAlpha's strategy to continue acquiring complementary businesses to drive revenue growth and expand its geographical reach.
reAlpha's management acknowledges the critical importance of cybersecurity measures and is committed to enhancing its cybersecurity practices to protect its information systems and data integrity.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the reAlpha Tech Corp. annual 10-K report dated April 2, 2025. To report an error, please email earnings@qz.com.