December 15, 2023 8:45am | 1 minute read
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LaRosa Holdings Co., Ltd. (NASDAQ:LRHC) has acquired a 100% interest in its Longwood, Florida franchisee, La Rosa Realty CW Properties.
CW Properties generated revenue of $3.4 million and had a positive net income in 2022.
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Franchisees provide residential and commercial real estate brokerage services. We also provide coaching and support services to agents for a fee.
Joe La Rosa, CEO of the company, commented: “Our goal is to acquire nine additional franchisees over the next six to eight months.”
Other acquisitions are in the pipeline and are currently being actively evaluated.
“We believe our current infrastructure is set up to support five times the current number of agents, so these acquisitions will contribute to both our top and bottom line growth. Our goal is to reach an annual revenue run rate of $100 million by the end of 2024.”
Although the company has been profitable to date prior to its 2021 IPO, the projected revenue growth, even after taking into account the new costs and overheads of being a public company, will ensure a solid exit run rate in 2024. We are confident that we will be able to return to profitability,” the CEO added. .
Price action: LRHC stock was trading 9.33% premarket at $1.64 at last check Friday.
Photo via company
“End 2023 strong with 3 hot ideas – virtually free”
Are you ready to take advantage of the next 32%, 39%, or 45% upside potential in today’s market? You’re about to miss the 3 latest stock ideas from stock expert Gianni Di Poce. .One that can change your entire wealth creation journey. If you’re ready to end 2023 on a high, get 12 Rising Stock Ideas every month. Act quickly.
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