Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
reAlpha Tech Corp. reported quarter ended March 31, 2024 results: revenue $20,426, net income $1,419,045.
- Period
- quarter ended March 31, 2024
- Revenue
- $20,426
- Net income
- $1,419,045
- Result
- reported results
Exact text from the filing
Revenues were $20,426 for the three months ended March 31, 2024, compared to $111,451 for the three months ended March 31, 2023. Our revenues consist of both the short-term rental revenue that we receive from our listed properties, if any, and platform services income that we receive directly from, or services related to, our technologies. The decrease in revenues during the period was attributable to lower rental revenue due to the disposal of our rental properties during and subsequent to fiscal year 2023 as a result of our business strategy shift to focus on the commercialization of our AI technologies, as well as lower platform services revenue as a result of the sale of myAlphie. We had cash and cash equivalents of approximately $4.84 million as of March 31, 2024, and approximately $6.46 million as of December 31, 2023. Net loss was $1,419,045 for the three months ended March 31, 2024, compared to $864,913 for the three months ended March 31, 2023.
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