reAlpha Tech reports transition-period revenue of $121.7K, net loss $1.25M; pivots to AI tech

reAlpha Tech Corp.

Revenue of $121,690 for 8 months ended Dec 31, 2023, down 57% YoY due to property disposals and sale of myAlphie.
Net loss narrowed to $1.25M from $4.24M in prior period, partly from myAlphie sale gain.
Cash balance $6.46M at Dec 31, 2023, up from $1.26M on April 30, 2023, aided by $8M November public offering.
Paused short-term rental operations; focusing on AI commercialization (GENA) and acquisitions of Naamche and USG.
Executive changes: Michael Logozzo to President/COO, Michael Frenz to CFO, Jorge Aldecoa to Chief Product Officer.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

reAlpha Tech Corp. reported the eight month period ended December 31, 2023 results: revenue $121,690, net income $1,251,259.

Period: the eight month period ended December 31, 2023
Revenue: $121,690
Net income: $1,251,259
Result: reported results

Exact text from the filing

as of December 31, 2023, we are reporting results for the transition period between May 1, 2023 and December 31, 2023. Revenue for the eight months ended December 31, 2023 was $121,690, compared to $284,666 for the eight months ended December 31, 2022. Our revenues consist of both the short-term rental revenue that we receive from our listed properties, if any,

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Source: SEC EDGAR

accession 0001213900-24-021559

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