On August 14, 2024, reAlpha Tech Corp., a Delaware-based real estate technology company, announced its financial results for the quarter ended June 30, 2024. The company, which trades under the symbol AIRE on the Nasdaq Stock Market, reported a significant increase in revenue, which rose to $62,353, marking a 205% increase from the previous quarter and a 13.6% year-over-year growth. Despite the revenue growth, the company experienced a net loss of $(1,478,312) and an adjusted EBITDA of $(1,147,148), which represents a decrease from the previous quarter and year-over-year. The company highlighted the launch of Claire, an AI-powered, commission-free home buying platform, and the completion of the acquisition of Naamche, a Nepal-based technology firm. The acquisition increased reAlpha's full-time employee...Show More

On August 14, 2024, reAlpha Tech Corp., a Delaware-based real estate technology company, announced its financial results for the quarter ended June 30, 2024. The company, which trades under the symbol AIRE on the Nasdaq Stock Market, reported a significant increase in revenue, which rose to $62,353, marking a 205% increase from the previous quarter and a 13.6% year-over-year growth. Despite the revenue growth, the company experienced a net loss of $(1,478,312) and an adjusted EBITDA of $(1,147,148), which represents a decrease from the previous quarter and year-over-year. The company highlighted the launch of Claire, an AI-powered, commission-free home buying platform, and the completion of the acquisition of Naamche, a Nepal-based technology firm. The acquisition increased reAlpha's full-time employee count from 15 to 57. reAlpha's CEO, Giri Devanur, emphasized the company's acquisition-led growth strategy and its intention to capitalize on the industry changes following the National Association of Realtors' lawsuit settlement. The company also provided an outlook for the quarter ending September 30, 2024, expecting revenue growth of 140% to 170% from the quarter ended June 30, 2024, and the completion of integration of AiChat and Hyperfast Title into its business.