reAlpha Tech Corp. EPS For The 8-Months Ended December 31, 2023 $(0.03) Vs $(0.13) For the Year Ended April 30, 2023
Portfolio Pulse from Benzinga Newsdesk
reAlpha Tech Corp. reported financial results for the 8-month transition period ending December 31, 2023, with an EPS of $(0.03), improved from $(0.13) the previous year. Revenue decreased to $121,690 from $284,666, mainly due to lower rental income and the sale of myAlphie. Cash and equivalents rose to $6,456,370 from $1,256,868. Net loss decreased to $1,251,259 from $4,241,555, largely due to the sale of myAlphie. Adjusted EBITDA improved to $(2,297,480) from $(4,031,674).
March 12, 2024 | 8:37 pm
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reAlpha Tech Corp. (AIRE) reported improved financial metrics for the 8-month period ending December 31, 2023, with a notable decrease in net loss and an increase in cash reserves despite lower revenues.
The significant reduction in net loss and the increase in cash reserves are positive indicators for AIRE's financial health, potentially leading to a positive short-term impact on its stock price. However, the decrease in revenue could be a concern for long-term growth.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100