L
La Rosa Holdings Corp.
LRHCCIK 0001879403NasdaqEmerging GrowthReal Estate Agents & Managers (For Others)NevadaFY ends Dec 31
Period
FY 2024
Revenue
$69.45M
Net Income
$-14.45M
Total Assets
$19.41M
Equity
$2.57M
Shares Out
1.63M
Op. Cash Flow
$-3.00M
Business
La Rosa Holdings Corp. is a holding company that operates an agent-centric, technology-integrated, cloud-based multi-service real estate business. It provides residential and commercial real estate brokerage services and cross-sells ancillary offerings including franchising, coaching and training, property management, title and escrow services, and a commission advancement program. Its key business segments include La Rosa Realty (brokerage), La Rosa Franchising, La Rosa Coaching, La Rosa CRE, La Rosa Property Management, and FPG Title Group. The company distributes services through corporate and franchised brokerage offices, affiliated brokers, proprietary cloud-based platforms and consumer-facing websites across multiple U.S. states and Puerto Rico.
Summary from filing dated 2025-04-15
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|
| Revenue | 69 | 32 | 26 | |
| Cost of revenue | 63 | 29 | 24 | |
| Gross profit | 6 | 3 | 3 | |
| Sales and marketing | 1 | 359,717 | 415,770 | |
| General and administrative | 11 | 4 | 4 | |
| Stock-based compensation general and administrative | 5 | 5 | — | |
| Impairment of goodwill | 787,438 | — | — | |
| Total operating expenses | 17 | 10 | 5 | |
| Loss from operations | −11 | −7 | −2 | |
| Interest expense, net | −403,397 | −140,382 | −144,268 | |
| Loss on extinguishment of debt | −777,558 | — | 149,312 | |
| Amortization of debt discount | −649,138 | −1 | −349,913 | |
| Change in fair value of derivative liability | −1 | 138,985 | −120,599 | |
| Other income, net | 15,745 | 286,641 | — | |
| Loss before provision for income taxes | −14 | −8 | −2 | |
| Benefit from income taxes | — | — | −150,000 | |
| Net loss | −14 | −8 | −2 | |
| Less: Net income (loss) attributable to noncontrolling interests in subsidiaries | 97,567 | −5,326 | — | |
| Net loss after noncontrolling interest in subsidiaries | −14 | −8 | −2 | |
| Less: Deemed dividend | 1 | 1 | — | |
| Net loss attributable to common stockholders | −16 | −9 | — | |
| Basic (in Dollars per share) | −0.79 | −1.27 | −0.39 | |
| Diluted (in Dollars per share) | −0.79 | −1.27 | −0.39 | |
| Basic (in Shares) | 20 | 7 | 6 | |
| Diluted (in Shares) | 20 | 7 | 6 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|
| Cash | 1 | 959,604 | 118,558 | — | |
| Restricted cash | 2 | 1 | 1 | — | |
| Accounts receivable, net of allowance for credit losses of $166,504 and $83,456, respectively | 931,662 | 826,424 | 424,549 | — | |
| Other Current Assets | 1,788 | — | 45,000 | — | |
| Total current assets | 5 | 3 | — | — | |
| Property and equipment, net | 9,411 | 14,893 | — | — | |
| Right-of-use asset, net | 997,715 | 687,570 | — | — | |
| Intangible assets, net | 6 | 5 | — | — | |
| Goodwill, net | 8 | 6 | — | — | |
| Other long-term assets | 33,831 | 21,270 | 79,314 | — | |
| Total noncurrent assets | 15 | 11 | 2 | — | |
| Total assets | 19 | 14 | 4 | — | |
| Accounts payable | 2 | 1 | 2 | — | |
| Accrued expenses | 738,065 | 227,574 | 522,279 | — | |
| Contract liabilities | 7,747 | — | — | — | |
| Line of credit | 148,976 | — | 86,163 | — | |
| Derivative liability | 2 | — | 1 | — | |
| Advances on future receipts, net | 618,681 | 77,042 | — | — | |
| Accrued acquisition cash consideration | 381,404 | 300,000 | — | — | |
| Notes payable, current | 2 | 4,400 | 250,788 | — | |
| Lease liability, current | 473,733 | 340,566 | — | — | |
| Total current liabilities | 9 | 2 | 5 | — | |
| Note payable, net of current | 1 | 615,127 | 360,912 | — | |
| Security deposits and escrow payable | 2 | 1 | — | — | |
| Lease liability, noncurrent | 545,759 | 363,029 | — | — | |
| Other liabilities | 32,950 | 2,950 | — | — | |
| Total non-current liabilities | 4 | 2 | 2 | — | |
| Total liabilities | 13 | 5 | 7 | — | |
| Commitments and contingencies (Note 13) | — | — | — | — | |
| Preferred stock - $0.0001 par value; 50,000,000 shares authorized; 2,000 Series X shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively | — | — | — | — | |
| Common stock - $0.0001 par value; 250,000,000 shares authorized; 21,847,514 and 13,406,480 issued and outstanding at December 31, 2024 and December 31, 2023, respectively | 2,185 | 1,341 | 600 | — | |
| Additional paid-in capital | 29 | 18 | — | — | |
| Accumulated deficit | −27 | −12 | −4 | — | |
| Total stockholders equity La Rosa Holdings Corp. shareholders | 3 | 6 | −3 | — | |
| Noncontrolling interest in subsidiaries | 4 | 4 | — | — | |
| Total stockholders equity | 7 | 10 | −3 | −1 | |
| Total liabilities and stockholders equity | 19 | 14 | 4 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|
| Stock-based compensation | 5 | 5 | — | |
| Amortization and depreciation | 1 | 73,134 | — | |
| Non-cash lease expense | 561,654 | — | — | |
| Amortization of debt discount and financing fees | 649,138 | 1 | — | |
| Loss on extinguishment of debt | 777,558 | — | — | |
| Impairment of goodwill | 787,438 | — | — | |
| Noncash interest expense | 8,793 | 44,722 | — | |
| Provision for credit losses | 82,324 | 21,201 | — | |
| Accounts receivable | −174,175 | −370,831 | 119,596 | |
| Deposits and prepaid expenses | 15,387 | 45,000 | 76,151 | |
| Accounts payable | 1 | 307,877 | −115,653 | |
| Accrued expenses and other | 459,952 | −239,048 | 297,933 | |
| Contract liabilities | 7,747 | — | — | |
| Security deposits and escrow payable | 524,854 | 69,164 | — | |
| Operating lease liabilities | −567,593 | — | — | |
| Net Cash Used in Operating Activities | −3 | −2 | −1 | |
| Purchase of property, plant and equipment | −5,033 | — | — | |
| Cash paid for acquisitions net of cash acquired of $240,470 for acquisitions | −63,592 | −141,744 | — | |
| Net Cash Used in Investing Activities | −68,625 | −141,744 | — | |
| Borrowings on bank line of credit | 300,508 | 331,095 | 137,301 | |
| Payments on bank line of credit | −151,532 | −417,736 | −180,690 | |
| Proceeds from notes payable | 3 | — | 514,448 | |
| Payments of deferred debt issuance costs | −459,094 | — | — | |
| Payments on notes payable | −1 | −532,163 | −4,388 | |
| Proceeds from advances on future receipts | 2 | 500,650 | — | |
| Payments on advances on future receipts | −1 | −679,688 | — | |
| Payments on post-acquisition consideration | −150,000 | — | — | |
| Distributions to noncontrolling interest | −1 | — | — | |
| Payments related to the public offering | — | −2 | −511,619 | |
| Payments to related party | — | −168,100 | −35,795 | |
| Proceeds from related party | — | 45,413 | 1 | |
| Payments on convertible debt | — | −70,000 | −10,000 | |
| Proceeds from issuance of preferred stock | — | 2 | — | |
| Proceeds from issuance of common stock | 3 | 4 | — | |
| Withholding tax paid on behalf of employees on stock based awards | −1,958 | −177,330 | — | |
| Net Cash Provided by Financing Activities | 4 | 3 | 1 | |
| Net Increase in Cash and Restricted Cash | 1 | 913,905 | −109,876 | |
| Interest | 335,425 | 129,644 | 34,175 | |
| Taxes | — | — | — | |
| Derivative liability embedded in debt instruments | 269,038 | −883,894 | 760,608 | |
| Issuance of 2,812,382 shares of common stock as consideration of acquisitions of businesses | 4 | — | — | |
| Issuance of 379,428 shares of common stock as consideration of acquisitions of businesses | 377,485 | — | — | |
| Issuance of 1,081,030 shares of common stock as part of the issuance of notes payable | 1 | — | — | |
| Issuance of 1,495,769 shares of common stock for services rendered | 5 | — | — | |
| Issuance of 230,202 shares of common stock for accounts payable | 150,000 | — | — | |
| Office leases acquired under operating lease obligations | 883,652 | — | — | |
| Convertible debt and related party debt exchanged for 1,912 shares of Series A Convertible Preferred Stock | — | 2 | — | |
| Decrease in accounts payable related to deferred offering costs | — | −981,069 | 701,917 | |
| Issuance of 981,676 shares of common stock for beneficial conversion feature of Series A Convertible Preferred Stock | — | 1 | — | |
| Issuance of 1,393,618 shares of common stock for deferred offering costs | — | 7 | — | |
| Issuance of 2,750,114 shares of common stock as part of the consideration of acquisitions of businesses | — | 7 | — | |
| Issuance of 95,000 shares of common stock as part of the repayment of notes payable | — | 475,000 | — | |
| Issuance of 6,566 shares of common stock upon the conversion of convertible debt upon the IPO | — | 26,265 | — | |
| Issuance of 819,000 shares of common stock for services rendered | — | 1 | — | |
| Settlement of conversion rights | — | 433,894 | — |
Filings
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