reAlpha Tech Corp. (AIRE) Reports Q3 Loss of $0.05 ; Provides Outlook

reAlpha Tech Corp. (NASDAQ: AIRE) reported Q3 EPS of ($0.05). Revenue for the quarter came in at $339.23 million.

Third Quarter 2024 Financial Highlights:

Revenue was approximately $339,000 for the three months ended September 30, 2024, an increase of approximately 440% from the quarter ended June 30, 2024, and a 475% increase year-over-year (“YoY”).
Revenue exceeded the high end of the revenue growth guidance provided in the Company’s second quarter earnings release by 274%.
Cash and cash equivalents of approximately $7.07 million as of September 30, 2024.
Net loss was approximately $(2.10) million for the three months ended September 30, 2024.
Adjusted EBITDA was approximately $(1.36) million, a decrease of 19% from the quarter ended June 30, 2024, and an 86% decrease YoY.

Outlook for Quarter Ending December 31, 2024

reAlpha’s revenue for the quarter ended September 30, 2024, exceeded the high end of the revenue growth guidance provided in reAlpha’s second quarter earnings release by 274%, and reAlpha expects to achieve the following results for the quarter ending December 31, 2024:

Revenue to grow 130% to 190% from the quarter ended September 30, 2024.
Completion of integration of Be My Neighbor (acquired September 2024) into reAlpha’s business.

For earnings history and earnings-related data on reAlpha Tech Corp. (AIRE) click here.

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