La Rosa Holdings Corp. reported on November 20, 2024, that total revenue for the third quarter ended September 30, 2024, increased by 188% year-over-year to $19.6 million. For the first nine months of 2024, total revenue reached $51.7 million, a 155% increase compared to the same period in 2023, surpassing initial revenue guidance by approximately $6.7 million.
Residential real estate services revenue saw a 328% increase to $16.5 million in Q3 2024, driven by acquisitions and an increase in agent count. The company also acquired Nona Title Agency during the third quarter, adding title insurance services and positioning it as a high-margin revenue stream.
Despite strong top-line growth, the net loss for Q3 2024 widened to $3.4 million, or $(0.21) per share, compared to a net loss of $344 thousand, or $(0.06) per share, in Q3 2023. For the nine months, net loss was $10.5 million, or $(0.70) per share. The company aims for a $100 million annualized revenue run rate by the end of 2024 and profitability in 2025.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.