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La Rosa Restates 2024 Revenue Down $10.8M To $58.6M; Revises 2025 Outlook To $68.6M

Benzinga·04/27/2026 12:36:09
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La Rosa Holdings Corp. (NASDAQ:LRHC) ("La Rosa" or the "Company"), a real estate and PropTech enterprise, today announced a non-cash restatement of its previously reported revenue for fiscal 2024.

The Company determined that its previously issued audited consolidated financial statements for the years ended December 31, 2024 should be revised due to the calculation of ASC 606 Gross vs. Net, with revenue adjusted to $58.6 million to properly reflect certain property management fee revenues generated by La Rosa Property Management, LLC. These adjustments reduce overall revenue by $10.8 million and cost of sale while leaving gross margin intact resulting in an increase to the percentage of gross margin for the company for the fiscal year ended December 31, 2024 from 8.57% to 10.14%. Additionally, the Company has revised its previously issued guidance for 2025 to $68.6 million to reflect the adjustment to revenue recognition.

Despite these adjustments, La Rosa continues to deliver strong growth, with preliminary unaudited revenue increasing 17% year-over-year to $68.6 million for the year ended December 31, 2025, compared to $58.6 million for the year ended December 31, 2024.

Importantly, the restatement has no impact on the Company's gross profit, operating income, net income, shareholders' equity, or cash flows.