Thu, Aug 15, 8:08 PM (152 days ago)
La Rosa Holdings Corp. reported significant growth in revenue for Q2 2024, reaching $19,051,420, a 154% increase from $7,486,720 in Q2 2023, primarily driven by acquisitions. However, the company incurred a net loss of $2,320,072, compared to a loss of $403,494 in the previous year, reflecting rising operating expenses, particularly in general and administrative costs, which surged due to public company expenses and stock-based compensation. The gross profit margin improved to 8.3% from 8.9% year-over-year, despite rising costs associated with revenue growth. Cash flow from operations showed a negative trend, with net cash used amounting to $1,341,369 for the six months ended June 30, 2024. The company’s liquidity remains a concern, as it reported negative working capital of $1.4 million. La Rosa Holdings is actively pursuing further acquisitions to enhance growth but faces uncertainties related to market conditions, legal challenges regarding commission structures, and potential impacts from rising interest rates. The company plans to raise additional capital to address ongoing operational losses and meet financial obligations.