La Rosa Estimates 120% Year-Over-Year Revenue Growth for First 9 Months of 2024

October 23, 2024

DENVER, Colo., Oct 23, 2024 (247marketnews.com)- La Rosa (NASDAQ: LRHC) reported preliminary estimated unaudited revenue of $45 million for the first nine months of 2024, which represents an approximately 120% increase in year-over-year revenue, compared to the first nine months of 2023.

Joe La Rosa, CEO of La Rosa, stated, “Our growth rate accelerated during the first nine months of 2024, driven by exceptional year-over-year performance, as compared to the same period in 2023, resulting from the acquisition of real estate brokerage franchisees and an increase in agent count. We recently announced a Letter of Intent (LOI) to acquire a real estate brokerage firm that generated over $19 million in revenue for 2023 and has more than 950 agents across multiple states. The firm also offers a proprietary cloud-based Software-as-a-Service (SaaS) platform designed specifically for real estate agents. This potential acquisition aligns with our vision of advancing technology-driven real estate solutions, expanding our market presence, and delivering greater value to agents through innovative, integrated platforms.

“With our strategic focus on acquisitions and the rapid growth of our agent base, we are projecting an annualized revenue run rate of $100 million by the end of 2024. This forecast reflects our commitment to scaling operations and increasing market share. We anticipate to achieve profitability in 2025, driven by expanding revenue streams, integration of new agents and technology, and a potential reduction in costs due the implementation of our expense management system in the near future.”

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