Latest news with #VijayRathna
Yahoo
16-05-2025
- Business
- Yahoo
reAlpha Tech Corp. Announces 4,432% Year-over-Year Revenue Growth for Quarter Ended March 31, 2025
DUBLIN, Ohio, May 16, 2025 (GLOBE NEWSWIRE) -- reAlpha Tech Corp. (Nasdaq: AIRE) (the 'Company' or 'reAlpha'), a real estate technology company developing and commercializing artificial intelligence ('AI') technologies, today announced financial results for the quarter ended March 31, 2025. Financial Highlights: Revenue increased 4,432% to $925,635 in the first quarter of 2025, compared to $20,426 in the first quarter of 2024. Cash was approximately $1.2 million as of the first quarter of 2025, compared to $3.1 million in the first quarter of 2024. Net loss was approximately $2.85 million in the first quarter of 2025, compared to a net loss of approximately $1.41 million in the first quarter of 2024, which increase in net loss was mainly due to increased operating expenses resulting from the integration of the Company's recent acquisitions. While the Company reported a higher net loss year-over-year, the net profit margin increased from approximately (6,947)% to (309)% year-over-year, due to increased operating efficiency across the business and integration of recent acquisitions. Adjusted EBITDA was approximately $(1.96) million in the first quarter of 2025, compared to approximately $(1.34) million in the first quarter of 2024. Piyush Phadke, Chief Financial Officer of reAlpha, commented, 'Our progress in the first quarter of 2025 is a definite step in the right direction and further corroborates the positive trend in revenue growth and EBITDA margins reflected in our 2024 annual report.' He further added, 'We believe that by combining AI-driven technology with strategic acquisitions in real estate services, we have driven strong revenue growth and are building a scalable platform aimed at making homeownership more affordable. We intend to carry this momentum forward throughout the year.' Business Highlights Launched several tools to enhance operational efficiency and customer experience, including the rollout of a comprehensive internal lead tracking system and the launch of a new public-facing website for Be My Neighbor, one of the Company's subsidiaries. Appointed Piyush Phadke as Chief Financial Officer and Vijay Rathna as Chief Crypto Officer. Announced the acquisition of GTG Financial, Inc. ('GTG'), a mortgage brokerage founded by a U.S. marine in 2017 and licensed in seven U.S. states. GTG's acquisition complements the Company's acquisition of Be My Neighbor in 2024 and highlights the Company's focus on the mortgage brokerage market. From the date of acquisition to the end of the first quarter of 2025, GTG contributed to originating 36 mortgages for a total loan volume of approximately $22.4 million since its acquisition by the Company in the first quarter of 2025. Secured a $5 million media-for-equity investment from Mercurius Media Capital LP on March 10, 2025, which is providing the Company with access to significant marketing exposure while preserving cash. One of the active campaigns is promoting the reAlpha platform on Willow TV across all 50 U.S. states. About reAlpha Tech Corp. reAlpha Tech Corp. (Nasdaq: AIRE) is an AI-powered real estate technology company transforming the multi-trillion dollar U.S. real estate services market. reAlpha is developing an end-to-end platform that streamlines the homebuying journey, including real estate brokerage, mortgage and title services. With a strategic, acquisition-driven growth model and a proprietary AI infrastructure, reAlpha is building a vertically integrated ecosystem designed to deliver a streamlined and more affordable path to homeownership. For more information, visit Forward-Looking Statements The information in this press release includes 'forward-looking statements.' Any statements other than statements of historical fact contained herein, including statements relating to acquisitions, business strategy and plans, objectives of management for future operations of reAlpha, market size and growth opportunities, competitive position and technological and market trends, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as 'may', 'should', 'could', 'might', 'plan', 'possible', 'project', 'strive', 'budget', 'forecast', 'expect', 'intend', 'will', 'estimate', 'anticipate', 'believe', 'predict', 'potential' or 'continue', or the negatives of these terms or variations of them or similar terminology. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: reAlpha's ability to pay contractual obligations; reAlpha's liquidity, operating performance, cash flow and ability to secure adequate financing; reAlpha's limited operating history and that reAlpha has not yet fully developed its AI-based technologies; whether reAlpha's technology and products will be accepted and adopted by its customers and intended users; reAlpha's ability to commercialize its developing AI-based technologies; reAlpha's ability to successfully enter new geographic markets; reAlpha's ability to integrate the business of its acquired companies into its existing business and the anticipated demand for such acquired companies' services; reAlpha's ability to scale its operational capabilities to expand into additional geographic markets and nationally; the potential loss of key employees of reAlpha and of its subsidiaries; the outcome of certain outstanding legal proceedings against reAlpha; reAlpha's ability to obtain, and maintain, the required licenses to operate in the U.S. states in which it, or its subsidiaries, operate in, or intend to operate in; reAlpha's ability to successfully identify and acquire companies that are complementary to its business model; reAlpha's ability to commercialize its developing AI-based technologies; the inability to maintain and strengthen reAlpha's brand and reputation; any accidents or incidents involving cybersecurity breaches and incidents; the inability to accurately forecast demand for short-term rentals and AI-based real estate-focused products; the inability to execute business objectives and growth strategies successfully or sustain reAlpha's growth; the inability of reAlpha's customers to pay for reAlpha's services; the inability of reAlpha to obtain additional financing or access the capital markets to fund its ongoing operations on acceptable terms and conditions; the outcome of any legal proceedings that might be instituted against reAlpha; changes in applicable laws or regulations, and the impact of the regulatory environment and complexities with compliance related to such environment; and other risks and uncertainties indicated in reAlpha's U.S. Securities and Exchange Commission ('SEC') filings. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Although reAlpha believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. reAlpha's future results, level of activity, performance or achievements may differ materially from those contemplated, expressed or implied by the forward-looking statements, and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements. For more information about the factors that could cause such differences, please refer to reAlpha's filings with the SEC. Readers are cautioned not to put undue reliance on forward-looking statements, and reAlpha does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Investor Relations Contact: Adele Carey, VP of Investor Relationsinvestorrelations@ Media Contact: Cristol Rippe, Chief Marketing Officermedia@ reAlpha Tech Corp. and Subsidiaries Condensed Consolidated Balance Sheet March 31, 2025 (Unaudited) and December 31, 2024 March 31,2025 December 31,2024 ASSETS (unaudited) Current Assets Cash $ 1,204,400 $ 3,123,530 Accounts receivable, net 164,693 182,425 Receivable from related parties 7,408 12,873 Prepaid expenses 5,183,968 180,158 Current assets of discontinued operations 56,931 56,931 Other current assets 278,422 487,181 Total current assets 6,895,822 4,043,098 Property and equipment, net 101,407 102,638 Other Assets Investments 214,128 215,000 Other long term assets 954,000 31,250 Intangible assets, net 3,256,713 3,285,406 Goodwill 7,010,689 4,211,166 Capitalized software development - work in progress 105,900 105,900 TOTAL ASSETS $ 18,538,659 $ 11,994,458 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current Liabilities Accounts payable $ 940,896 $ 655,765 Related party payables 9,380 9,287 Short term loans - related parties -current portion 245,292 261,986 Short term loans - unrelated parties -current portion 449,622 519,153 Note payable, current-net of discount 5,010,627 - Accrued expenses 994,728 1,164,813 Deferred liabilities, current portion 4,191,060 1,534,433 Total current liabilities 11,841,605 4,145,437 Long-Term Liabilities Embedded Derivate Liability 4,327,930 - Preferred stock liability 957,177 Other long term loans - related parties - net of current portion 27,131 45,052 Other long term loans - unrelated parties - net of current portion 217,036 241,121 Note payable, net of discount - 4,909,376 Other long term liabilities 2,133,000 1,086,000 Total liabilities 19,503,879 10,426,986 Stockholders' Equity (Deficit) Series A Convertible Preferred Stock ($0.001 par value; 5,000,000 shares authorized) 1,000,000 shares designated; 264,063 and 0 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively - - Common stock ($0.001 par value; 200,000,000 shares authorized, 46,230,934 shares outstanding as of March 31, 2025; 200,000,000 shares authorized, 45,864,503 shares outstanding as of December 31, 2024) 46,230 45,865 Additional paid-in capital 40,099,285 39,770,060 Accumulated deficit (41,110,855 ) (38,260,913 ) Accumulated other comprehensive income (6,920 ) 5,011 Total stockholders' (deficit) equity of reAlpha Tech Corp. (972,260 ) 1,560,023 Non-controlling interests in consolidated entities 7,040 7,449 Total stockholders' (deficit) equity (965,220 ) 1,567,472 TOTAL LIABILITIES AND STOCKOLDERS' (DEFICIT) EQUITY $ 18,538,659 $ 11,994,458 reAlpha Tech Corp. and Subsidiaries Condensed Consolidated Statements of Operations and Comprehensive Loss For the Three Ended March 31, 2025 and 2024 (unaudited) For the ThreeMonths Ended For the ThreeMonths Ended March 31,2025 March 31,2024 Revenues $ 925,635 $ 20,426 Cost of revenues 406,968 18,249 Gross Profit 518,667 2,177 Operating Expenses Wages, benefits and payroll taxes 1,060,104 418,902 Repairs and maintenance 854 749 Utilities 5,213 1,663 Travel 60,991 46,964 Dues and subscriptions 52,232 12,113 Marketing and advertising 518,939 76,784 Professional and legal fees 742,159 468,725 Depreciation and amortization 179,149 71,453 Other operating expenses 321,284 211,482 Total operating expenses 2,940,925 1,308,835 Operating Loss (2,422,258 ) (1,306,658 ) Other Expense (income) Changes in fair value of contingent consideration 93,000 - Interest expense, net 205,247 10,445 Other expense, net 129,846 101,103 Total other expense 428,093 111,548 Net Loss from continuing operations before income taxes (2,850,531 ) (1,418,206 ) Net Loss from continuing operations (2,850,351 ) (1,418,206 ) Discontinued operations (Roost and Rhove) Loss from operations of discontinued Operations - (839 ) Loss on discontinued operations - (839 ) Net Loss $ (2,850,351 ) $ (1,419,045 ) Less: Net Loss Attributable to Non-Controlling Interests (409 ) (65 ) Net Loss Attributable to Controlling Interests $ (2,849,942 ) $ (1,418,980 ) Other comprehensive income Foreign currency translation adjustments (11,931 ) - Total other comprehensive loss (11,931 ) - Comprehensive Loss Attributable to Controlling Interests $ (2,861,873 ) $ (1,418,980 ) Basic loss per share Continuing operations $ (0.06 ) $ (0.03 ) Discontinued operations $ - $ (0.00 ) Net Loss per share — basic $ (0.06 ) $ (0.03 ) Diluted loss per share Continuing operations $ (0.06 ) $ (0.03 ) Discontinued operations $ - $ (0.00 ) Net Loss per share — diluted $ (0.06 ) $ (0.03 ) Weighted-average outstanding shares — basic 45,913,591 44,122,091 Weighted-average outstanding shares — diluted 47,662,152 44,122,091 reAlpha Tech Corp. and Subsidiaries Condensed Consolidated Statements of Cash Flows For the Three Months Ended March 31, 2025, and 2024 (unaudited) For the ThreeMonths Ended For the ThreeMonths Ended March 31,2025 March 31,2024 Cash Flows from Operating Activities: Net Loss $ (2,850,351 ) $ (1,419,045 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 130,399 71,453 Amortization of loan discounts 121,251 - Stock based compensation 78,355 - Change in fair value of contingent consideration 93,000 - Non cash Commitment fee expenses 125,000 125,000 Non cash Dividend payable on preferred stock 184 - Gain on sale of properties - (31,378 ) Loss from equity method investment 872 - Changes in operating assets and liabilities Accounts receivable 17,732 18,463 Receivable from related parties 5,465 - Payable to related parties 93 9,800 Prepaid expenses (3,810 ) 25,492 Other current assets (7,160 ) (1,788 ) Accounts payable 184,803 (28,263 ) Accrued expenses (187,813 ) (296,972 ) Deferred liabilities 24,877 - Total adjustments 583,248 (108,193 ) Net cash used in operating activities (2,267,103 ) (1,527,238 ) Cash Flows from Investing Activities: Additions to property and equipment (13,665 ) - Proceeds from sale of properties - 78,000 Net Cash paid to acquire business 349,529 - Cash used for additions to capitalized software (91,310 ) (97,700 ) Net cash provided by (used in) investing activities 244,554 (19,700 ) Cash Flows from Financing Activities: Proceeds from issuance of debt – related parties 155,481 - Payments of debt (283,711 ) (71,286 ) Proceeds from issuance of common stock 231,235 - Net cash provided by (used in) financing activities 103,005 (71,286 ) Net decrease in cash (1,919,544 ) (1,618,224 ) Cash - Beginning of Period 3,123,944 6,456,370 Cash - End of Period $ 1,204,400 $ 4,838,146 Explanatory Notes on Use of Non-GAAP Financial Measures To supplement reAlpha's financial information presented in accordance with U.S. generally accepted accounting principles ('U.S. GAAP'), reAlpha believes 'Adjusted EBITDA,' a 'non- U.S. GAAP financial measure', as such term is defined under the rules of the SEC, is useful in evaluating reAlpha's operating performance. reAlpha uses Adjusted EBITDA to evaluate reAlpha's ongoing operations and for internal planning and forecasting purposes. reAlpha believes that Adjusted EBITDA may be helpful to investors because it provides consistency and comparability with past financial performance. However, Adjusted EBITDA is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with U.S. GAAP. In addition, other companies, including companies in reAlpha's industry, may calculate similarly titled non-U.S. GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of reAlpha's non-U.S. GAAP financial measures as tools for comparison. A reconciliation is provided below for each non-U.S. GAAP financial measure to the most directly comparable financial measure stated in accordance with U.S. GAAP. Investors are encouraged to review the related U.S. GAAP financial measures and the reconciliation of these non- U.S. GAAP financial measures to their most directly comparable U.S. GAAP financial measures, and not to rely on any single financial measure to evaluate reAlpha's business. We use Adjusted EBITDA, a non- U.S. GAAP financial measure, to evaluate our operating performance and facilitate comparisons across periods and with peer companies. We reconcile our Adjusted EBITDA to our net income (loss) adjusted to exclude interest expense, depreciation and amortization, share-based compensation, and other non-cash, non-operating, or non-recurring items that we believe are not indicative of our core business operations. We believe this measure provides useful insight into our ongoing performance; however, it should not be considered a substitute for, or superior to, net income or other financial information prepared in accordance with U.S. GAAP. The following table provides a reconciliation of net income to Adjusted EBITDA for the periods presented below: For the Three Months Ended March 31, 2025 2024 Net (Loss) Income $ (2,850,351 ) $ (1,419,045 ) Adjusted to exclude the following Depreciation and amortization 179,149 71,453 Changes in fair value of contingent consideration 93,000 - Interest expense 205,247 10,445 Amortization of Loan Discounts and Origination Fee(1) 121,251 - GEM commitment fee (2) 125,000 - Share based compensation (3) 78,355 - Acquisition-related expenses (4) 87,352 - Adjusted EBITDA (1,960,997 ) (1,337,147 )(1) Reflects the amortized original issue discount related to that certain secured promissory note issued to Streeterville Capital, LLC on August 14, 2024. (2) This pertains to the commitment fee of $1 million in connection with the equity facility we have in place with GEM Global Yield LLC and GEM Yield Bahamas Limited, which has been amortized over a period of 24 months. (3) Compensation provided to employees for services through share-based awards, which is recognized as a non-cash expense. (4) Expenses related to acquisitions, including professional and legal fees, which are excluded from U.S. GAAP financial measures to provide a clearer view of ongoing operational performance. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-02-2025
- Business
- Yahoo
reAlpha Appoints Vijay Rathna as Chief Crypto Officer
DUBLIN, Ohio, Feb. 06, 2025 (GLOBE NEWSWIRE) -- reAlpha Tech Corp. (Nasdaq: AIRE) ('reAlpha' or the 'Company'), a real estate technology company developing and commercializing artificial intelligence ('AI') technologies, today announced the appointment of Vijay Rathna as the Company's Chief Crypto Officer ('CCO'), effective as of February 20, 2025. In this role, Mr. Rathna will oversee all of reAlpha's blockchain and cryptocurrency initiatives, including token strategy, blockchain integrations, and digital asset innovation, reporting directly to Giri Devanur, Chief Executive Officer of reAlpha. Mr. Rathna has significant leadership experience in information technology, AI, blockchain architecture, and cryptocurrency ecosystems. Prior to joining reAlpha, Mr. Rathna served as the Senior Vice President of Innovation and Development at Coretelligent (merged from Chateaux Software), where he led the ideation, design and development of digital transformation team to build AI, automation and blockchain solutions for its clients. Some of those engagements included a blockchain-based digital ticketing platform, a SEC-approved stable coin in money market fund for a fintech company, a blockchain product for a global insurance company and others. Mr. Rathna is also an Associate Professor at Columbia University teaching 'Blockchain and AI.' Mr. Rathna's appointment comes as reAlpha is exploring the integration of blockchain into its technologies, including the reAlpha platform. reAlpha plans to provide further updates and announcements regarding the integration of blockchain and digital assets technologies into its business model by the end of the first quarter of 2025. Giri Devanur, Chief Executive Officer of reAlpha, commented, 'We are thrilled to welcome Vijay Rathna to reAlpha as our Chief Crypto Officer, making reAlpha one of the first Nasdaq-listed companies to create such a position. The creation of this role highlights our commitment to innovate with blockchain technologies and the usage of digital assets. We believe that Vijay's expertise in blockchain architecture, his entrepreneurial mindset, and his ability to deliver innovative and compliant solutions make him an invaluable addition to our team.' Vijay Rathna added, 'I am excited to join reAlpha and contribute to its mission of bringing real estate to the digital era by leveraging AI technologies. I look forward to advancing reAlpha's blockchain initiatives and delivering impactful solutions for investors.' About reAlpha Tech Tech Corp. (Nasdaq: AIRE) is a real estate technology company developing an end-to-end commission-free homebuying platform. Utilizing the power of AI and an acquisition-led growth strategy, reAlpha's goal is to offer a more affordable, streamlined experience for those on the journey to homeownership. For more information, visit Forward-Looking StatementsThe information in this press release includes 'forward-looking statements.' Forward-looking statements include, among other things, statements about the appointment of Mr. Rathna as CCO and the anticipated benefits thereof; reAlpha's ability to develop blockchain solutions for the real estate industry; reAlpha's ability to anticipate the future needs of the real estate markets; future trends in the real estate, technology and artificial intelligence industries, generally; and reAlpha's future growth strategy and growth rate. In some cases, you can identify forward-looking statements by terminology such as 'may', 'should', 'could', 'might', 'plan', 'possible', 'project', 'strive', 'budget', 'forecast', 'expect', 'intend', 'will', 'estimate', 'anticipate', 'believe', 'predict', 'potential' or 'continue', or the negatives of these terms or variations of them or similar terminology. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: reAlpha's limited operating history and that reAlpha has not yet fully developed its AI-based technologies; reAlpha's ability to commercialize its developing AI-based technologies; whether reAlpha's technology and products will be accepted and adopted by its customers and intended users; reAlpha's ability to integrate the business of its acquired companies into its existing business and the anticipated demand for such acquired companies' services; reAlpha's ability to develop blockchain solutions to the real estate industry; reAlpha's ability to successfully integrate blockchain in its technologies, including the reAlpha platform; reAlpha's ability to develop a digital token; reAlpha's ability implement and execute its cryptocurrency investment policy; reAlpha's ability to remain compliant with the changing landscape of regulations related to digital currencies and other technologies; reAlpha's ability to successfully enter new geographic markets; reAlpha's ability to obtain the necessary regulatory and legal approvals to expand into additional U.S. states and maintain, or obtain, brokerage licenses in such states; reAlpha's ability to generate additional sales or revenue from having access to, or obtaining, additional U.S. states brokerage licenses; the inability to maintain and strengthen reAlpha's brand and reputation; reAlpha's ability to scale its operational capabilities to expand into additional geographic markets; the potential loss of key employees of its acquired companies, including, but not limited to, the broker providing services on behalf of US Realty, one of reAlpha's subsidiaries; reAlpha's inability to accurately forecast demand for short-term rentals, corporate relocation programs and AI-based real estate focused products; reAlpha's ability to successfully compete in the corporate relocation market; the inability to execute business objectives and growth strategies successfully or sustain reAlpha's growth; the inability of reAlpha's customers to pay for reAlpha's services; changes in applicable laws or regulations, and the impact of the regulatory environment and complexities with compliance related to such environment; and other risks and uncertainties indicated in reAlpha's U.S. Securities and Exchange Commission ('SEC') filings. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Although reAlpha believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. reAlpha's future results, level of activity, performance or achievements may differ materially from those contemplated, expressed or implied by the forward-looking statements, and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements. For more information about the factors that could cause such differences, please refer to reAlpha's filings with the SEC. Readers are cautioned not to put undue reliance on forward-looking statements, and reAlpha does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Company Contact Investor Relations investorrelations@ Media Contact Alliance Advisors IR on behalf of reAlpha Fatema Bhabrawala fbhabrawala@ in to access your portfolio
Associated Press
06-02-2025
- Business
- Associated Press
reAlpha Appoints Vijay Rathna as Chief Crypto Officer
DUBLIN, Ohio, Feb. 06, 2025 (GLOBE NEWSWIRE) -- reAlpha Tech Corp. (Nasdaq: AIRE) ('reAlpha' or the 'Company'), a real estate technology company developing and commercializing artificial intelligence ('AI') technologies, today announced the appointment of Vijay Rathna as the Company's Chief Crypto Officer ('CCO'), effective as of February 20, 2025. In this role, Mr. Rathna will oversee all of reAlpha's blockchain and cryptocurrency initiatives, including token strategy, blockchain integrations, and digital asset innovation, reporting directly to Giri Devanur, Chief Executive Officer of reAlpha. Mr. Rathna has significant leadership experience in information technology, AI, blockchain architecture, and cryptocurrency ecosystems. Prior to joining reAlpha, Mr. Rathna served as the Senior Vice President of Innovation and Development at Coretelligent (merged from Chateaux Software), where he led the ideation, design and development of digital transformation team to build AI, automation and blockchain solutions for its clients. Some of those engagements included a blockchain-based digital ticketing platform, a SEC-approved stable coin in money market fund for a fintech company, a blockchain product for a global insurance company and others. Mr. Rathna is also an Associate Professor at Columbia University teaching 'Blockchain and AI.' Mr. Rathna's appointment comes as reAlpha is exploring the integration of blockchain into its technologies, including the reAlpha platform. reAlpha plans to provide further updates and announcements regarding the integration of blockchain and digital assets technologies into its business model by the end of the first quarter of 2025. Giri Devanur, Chief Executive Officer of reAlpha, commented, 'We are thrilled to welcome Vijay Rathna to reAlpha as our Chief Crypto Officer, making reAlpha one of the first Nasdaq-listed companies to create such a position. The creation of this role highlights our commitment to innovate with blockchain technologies and the usage of digital assets. We believe that Vijay's expertise in blockchain architecture, his entrepreneurial mindset, and his ability to deliver innovative and compliant solutions make him an invaluable addition to our team.' Vijay Rathna added, 'I am excited to join reAlpha and contribute to its mission of bringing real estate to the digital era by leveraging AI technologies. I look forward to advancing reAlpha's blockchain initiatives and delivering impactful solutions for investors.' About reAlpha Tech Corp. reAlpha Tech Corp. (Nasdaq: AIRE) is a real estate technology company developing an end-to-end commission-free homebuying platform. Utilizing the power of AI and an acquisition-led growth strategy, reAlpha's goal is to offer a more affordable, streamlined experience for those on the journey to homeownership. For more information, visit Forward-Looking Statements The information in this press release includes 'forward-looking statements.' Forward-looking statements include, among other things, statements about the appointment of Mr. Rathna as CCO and the anticipated benefits thereof; reAlpha's ability to develop blockchain solutions for the real estate industry; reAlpha's ability to anticipate the future needs of the real estate markets; future trends in the real estate, technology and artificial intelligence industries, generally; and reAlpha's future growth strategy and growth rate. In some cases, you can identify forward-looking statements by terminology such as 'may', 'should', 'could', 'might', 'plan', 'possible', 'project', 'strive', 'budget', 'forecast', 'expect', 'intend', 'will', 'estimate', 'anticipate', 'believe', 'predict', 'potential' or 'continue', or the negatives of these terms or variations of them or similar terminology. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: reAlpha's limited operating history and that reAlpha has not yet fully developed its AI-based technologies; reAlpha's ability to commercialize its developing AI-based technologies; whether reAlpha's technology and products will be accepted and adopted by its customers and intended users; reAlpha's ability to integrate the business of its acquired companies into its existing business and the anticipated demand for such acquired companies' services; reAlpha's ability to develop blockchain solutions to the real estate industry; reAlpha's ability to successfully integrate blockchain in its technologies, including the reAlpha platform; reAlpha's ability to develop a digital token; reAlpha's ability implement and execute its cryptocurrency investment policy; reAlpha's ability to remain compliant with the changing landscape of regulations related to digital currencies and other technologies; reAlpha's ability to successfully enter new geographic markets; reAlpha's ability to obtain the necessary regulatory and legal approvals to expand into additional U.S. states and maintain, or obtain, brokerage licenses in such states; reAlpha's ability to generate additional sales or revenue from having access to, or obtaining, additional U.S. states brokerage licenses; the inability to maintain and strengthen reAlpha's brand and reputation; reAlpha's ability to scale its operational capabilities to expand into additional geographic markets; the potential loss of key employees of its acquired companies, including, but not limited to, the broker providing services on behalf of US Realty, one of reAlpha's subsidiaries; reAlpha's inability to accurately forecast demand for short-term rentals, corporate relocation programs and AI-based real estate focused products; reAlpha's ability to successfully compete in the corporate relocation market; the inability to execute business objectives and growth strategies successfully or sustain reAlpha's growth; the inability of reAlpha's customers to pay for reAlpha's services; changes in applicable laws or regulations, and the impact of the regulatory environment and complexities with compliance related to such environment; and other risks and uncertainties indicated in reAlpha's U.S. Securities and Exchange Commission ('SEC') filings. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Although reAlpha believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. reAlpha's future results, level of activity, performance or achievements may differ materially from those contemplated, expressed or implied by the forward-looking statements, and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements. For more information about the factors that could cause such differences, please refer to reAlpha's filings with the SEC. Readers are cautioned not to put undue reliance on forward-looking statements, and reAlpha does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Company Contact Media Contact Fatema Bhabrawala
