reAlpha Tech Corp. ( (AIRE) ) has released its Q3 earnings. Here is a breakdown of the information reAlpha Tech Corp. presented to its investors.
reAlpha Tech Corp., a real estate technology company, utilizes artificial intelligence to streamline the homebuying process and operates in the technology and real estate sectors. The company recently reported a significant increase in revenue for the third quarter of 2024, showcasing its robust acquisition-led growth strategy.
For the quarter ended September 30, 2024, reAlpha Tech Corp. announced a remarkable 440% increase in revenue compared to the previous quarter, reaching approximately $339,000. Despite this impressive revenue growth, the company reported a net loss of $2.10 million and an adjusted EBITDA of -$1.36 million, reflecting a decrease from the previous quarter and year-over-year.
Key highlights from the quarter include the completion of reAlpha’s acquisition of Be My Neighbor, a mortgage brokerage, and the launch of the reAlpha Super App, which aims to provide a commission-free homebuying experience. Additionally, the company expanded its AI capabilities through the acquisition of AiChat and the launch of reAlpha AI Labs, which made its first investment in Xmore AI, a cybersecurity company.
Looking forward, reAlpha anticipates continued revenue growth of 130% to 190% for the upcoming quarter, driven by ongoing investments in AI technologies and strategic acquisitions. With the completion of the Be My Neighbor integration, the company is poised to enhance its service offerings and further solidify its market position.
