La Rosa Holdings Announces Intent to Acquire Real Estate Brokerage Firm with Over 950 Agents and More Than $19.0 Million in Revenue for 2023

Brokerage Firm Offers Proprietary Cloud-Based SaaS Platform for Real Estate Agents

Celebration, FL, Sept. 17, 2024 (GLOBE NEWSWIRE) -- La Rosa Holdings Corp. (NASDAQ: LRHC) (“La Rosa” or the “Company”), a holding company for six agent-centric, technology-integrated, cloud-based, multi-service real estate segments, today announced that it has entered into a non-binding Letter of Intent to acquire a real estate brokerage firm with over 950 agents and offices in multiple states. The firm also offers a proprietary cloud-based Software-as-a-Service (SaaS) platform tailored for real estate agents and generated more than $19.0 million in revenue for 2023.

Joe La Rosa, CEO of the Company, commented, “This potential strategic acquisition aligns with our vision of advancing technology-driven real estate solutions, expanding our market presence, and providing agents with greater value through innovative, integrated platforms. If this acquisition is consummated, the brokerage firm's advanced SaaS platform would play a pivotal role in driving our continued innovation and value delivery to our agents. By integrating this sophisticated technology into our operations, we would be able to offer agents enhanced flexibility and efficiency in managing their day-to-day activities. We believe that this upgraded capability would streamline their workflows, reduce administrative burdens, and optimize their productivity. As a result, agents would be better equipped to respond to client needs swiftly and effectively, providing a higher level of service. Additionally, the brokerage firm operates in several states where we are not currently present, so once consummated this potential acquisition may provide us with valuable opportunities to introduce our ancillary services, such as title insurance, property management, and other complementary offerings, to new markets. By entering new regions, we would increase our service footprint and further enhance our ability to address diverse client needs across a broader geographic area.”

“We recently announced that we have onboarded over 400 agents since June 1, 2024, demonstrating significant growth and interest in our platform. Our goal is to exceed 4,000 agents by year-end, and we believe this acquisition, once consummated, can help us achieve that milestone. We expect that the addition of this brokerage firm and its extensive network would substantially boost our agent count and enhance our overall market presence. With our strategic focus on acquisitions and the rapid expansion of our agent base, we are projecting an annualized revenue run rate of $100 million by the end of 2024. This forecast reflects our commitment to scaling our operations and capturing a larger share of the market. We anticipate achieving profitability in 2025, supported by our growing revenue streams and efficient integration of new agents and technology. We believe that our ongoing efforts to expand our network and optimize our services are key drivers of our financial and operational goals, positioning us for sustained success in the coming years,” concluded Mr. La Rosa.