reAlpha Tech Corp. Common Stock

reAlpha Tech Corp. reported a net loss of $17.6 million for FY 2025, an improvement from a $26.0 million loss in FY 2024. Revenue grew 376% year-over-year to $4.5 million, driven by a 77% contribution from homebuying services (primarily mortgage brokerage from reAlpha Mortgage and GTG Financial) and a 23% contribution from technology services (primarily AiChat subscriptions). Gross profit was $2.5 million, yielding a gross margin of 54%, down from 68% in the prior year due to increased direct costs. Operating expenses rose 145% to $18.5 million, primarily from increased wages ($6.5M) and marketing ($5.9M). The company ended the year with $7.8 million in cash, bolstered by $17.7 million in net financing cash flows from equity offerings, but used $11.3 million in operating activities. Management notes substantial doubt about the company's ability to continue as a going concern due to recurring losses and negative cash flows.

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