Wed, Apr 2, 10:14 AM (25 days ago)
### Financial Performance - **Revenue**: $948,420 for the fiscal year ended December 31, 2024, an increase of $691,984, or 270%, from the comparable 2023 period. - **Net Loss**: $7,682,714 for the fiscal year ended December 31, 2024, compared to $2,145,055 for the comparable 2023 period. ### Operating Expenses - **Operating Expenses**: $7,548,950 for the fiscal year ended December 31, 2024, an increase of $26,772, or 0.4%, from the comparable 2023 period. - **Marketing and Advertising**: $793,004 for the fiscal year ended December 31, 2024, compared to $299,447 in the comparable 2023 period. ### Earnings per Share - **Earnings per Share**: Not explicitly stated, but the net loss provides insight into financial performance. ### Strategic Overview - **Business Model**: Focuses on developing an end-to-end commission-free homebuying platform, reAlpha. - **AI Technologies**: Integrates AI-driven tools for tailored property recommendations, mortgage brokering, and digital title and escrow services. - **Acquisitions**: Strategic acquisitions include AiChat, Be My Neighbor, Hyperfast, and GTG Financial to expand services and capabilities. ### Future Outlook - **Expansion Plans**: Intends to expand the reAlpha platform nationwide by the end of 2026. - **Financial Needs**: Estimates insufficient working capital to meet financial needs for the 12-month period following December 31, 2024. - **Capital Raising**: Plans to utilize equity or debt offerings to raise additional funds, although market volatility may affect this. ### Risk Factors - **Operational Risks**: Includes risks related to AI technology, market competition, and regulatory compliance. - **Financial Risks**: Includes risks related to cash flow, debt service, and the ability to raise additional capital. - **Market Risks**: Includes risks related to economic conditions, interest rates, and the real estate market. ### Financial Condition - **Cash and Cash Equivalents**: $3.1 million as of December 31, 2024, and $6.4 million as of December 31, 2023. - **Debt Obligations**: Includes a secured promissory note worth $5,455,000 with Streeterville Capital, LLC. ### Market Position Changes - **Market Position**: Seeks to position itself as a leader in the proptech market by offering an end-to-end platform for homebuyers. - **Competitive Landscape**: Faces competition from established and emerging real estate technology platforms.