La Rosa Holdings Corp. (NASDAQ: LRHC) announced a restatement of its 2024 revenue to $58.6 million, a reduction of $10.8 million from previously reported figures. The real estate and PropTech company said the adjustment stems from revised calculations under ASC 606 accounting standards regarding property management fee revenues.

The restatement affects revenue recognition but does not impact gross profit, net income, or cash flows, according to the company's statement. The adjustment increases La Rosa's gross margin percentage for 2024 from 8.57% to 10.14%.

La Rosa reported preliminary unaudited revenue of $68.6 million for 2025, representing 17% growth compared to the restated 2024 figure. The company also revised its 2025 revenue guidance to $68.6 million to reflect the accounting adjustments.

"This adjustment reflects a refinement in revenue recognition and presentation, not a change in the underlying strength of our business," said CEO Joe La Rosa.

The company operates 24 corporate-owned brokerage offices across Florida, California, Texas, Georgia, and Puerto Rico, along with five franchised offices and three affiliated locations. La Rosa also mentioned progress on its proposed acquisition of Consensus Core Technologies, described as an AI infrastructure solutions provider.

La Rosa stated it intends to file its Annual Report on Form 10-K shortly. The company provides real estate brokerage services and technology-driven products through its proprietary platform, offering agents flexible compensation options including revenue-sharing and fee-based structures.