Business Update and Financial Highlights
DUBLIN, Ohio, April 02, 2025 — reAlpha Tech Corp. (Nasdaq: AIRE), a real estate technology company leveraging artificial intelligence (AI) to revolutionize the homebuying experience, today reported its financial results for the fiscal year ended December 31, 2024.
Key Achievements in 2024
- Launched the reAlpha platform, an end-to-end, commission-free homebuying platform, in April 2024
- Acquired controlling interest in Hyperfast Title, LLC, in July, 2024, expanding title services to 3 U.S. states
- Acquired an 85% stake in AiChat Pte. Ltd. (“AiChat”) in July 2024, enhancing AI capabilities in conversational customer engagement and expanding presence in the Asia-Pacific region
- Introduced the reAlpha Super App in August 2024, providing homebuyers with direct access to AI-driven homebuying services on mobile devices
- Completed acquisition of Debt Does Deals, LLC (“Be My Neighbor”), enabling mortgage brokerage services in 28 U.S. states
Financial Performance
Revenue for the twelve months ended December 31, 2024, was $948,420, representing a 270% increase compared to $256,436 for the same period in 2023. This growth was primarily driven by strategic acquisitions completed during 2024.
Net loss was approximately $26.02 million for the twelve months ended December 31, 2024, compared to a net loss of approximately $2.46 million for the comparable 2023 period. The increase in net loss was largely due to a $17.3 million goodwill impairment related to discontinued short-term rental operations and the absence of a $5.5 million one-time gain from the sale of myAlphie in 2023.
Adjusted EBITDA was $(5,572,214) for the twelve months ended December 31, 2024, compared to $(7,387,223) for the comparable 2023 period.
Operational Update
In early 2024, reAlpha halted its short-term rental operations due to macroeconomic challenges. Consequently, the company recognized a $17.3 million goodwill impairment related to Roost Enterprises, Inc. (“Rhove”). The board of directors subsequently approved the discontinuation of short-term rental business operations entirely in the first quarter of 2025.
About reAlpha Tech Corp.
reAlpha Tech Corp. is a real estate technology company developing an end-to-end commission-free homebuying platform. By harnessing the power of AI and pursuing an acquisition-led growth strategy, reAlpha aims to provide a more affordable and streamlined homeownership experience.
Forward-Looking Statements
This press release contains forward-looking statements regarding reAlpha’s future plans, business strategy, and market trends. Actual results may differ materially due to various factors, including reAlpha’s ability to commercialize its AI-based technologies, integrate acquired companies, and comply with regulatory requirements. Readers are cautioned not to rely unduly on these forward-looking statements, which are subject to change except as required by law.
