reAlpha Tech SEC Filings

reAlpha Tech Corp. reported first-quarter 2026 results showing modestly lower revenue but significantly higher operating losses as it scales its platform. Revenue was $841,062 versus $925,635 in Q1 2025, while gross profit increased slightly to $552,265 from $518,667, reflecting improved margins.

Operating expenses nearly doubled to $4,832,923, driven mainly by higher wages, benefits, and marketing, leading to an operating loss of $4,280,658 compared with $2,422,258 a year earlier. Net loss attributable to common stockholders widened to $4,375,623, or $0.03 per share, versus $2,849,942, or $0.06 per share. Adjusted EBITDA was a loss of $3,795,500, compared with a loss of $1,960,997 in Q1 2025.

Cash declined to $4,667,612 at March 31, 2026 from $7,783,529 at December 31, 2025, reflecting operating cash outflows. The company also amended its 2025 Short-Term Incentive Plan, updating performance targets and tying award value to the 10-day volume weighted average price of its common stock.

reAlpha Tech Corp. reported first-quarter 2026 revenue of $841,062, down from $925,635 a year earlier, and a net loss of $4,338,495 compared with $2,850,167 in 2025. Operating expenses nearly doubled as the company invested in wages and marketing.

Cash was $4,667,612 at March 31, 2026, with net cash used in operating activities of $3,123,752. Management concluded that recurring losses, negative cash flows and limited liquidity raise substantial doubt about the company’s ability to continue as a going concern.

The company notes a Nasdaq notice for non-compliance with the minimum bid-price listing standard and has board approval for a 1‑for‑25 reverse stock split expected to become effective on April 30, 2026. reAlpha continues to build out its homebuying and technology services segments following recent acquisitions.

reAlpha Tech Corp. reported first-quarter 2026 revenue of $841,062, down from $925,635 a year earlier, and a net loss of $4,338,495 compared with $2,850,167 in 2025. Operating expenses nearly doubled as the company invested in wages and marketing.

Cash was $4,667,612 at March 31, 2026, with net cash used in operating activities of $3,123,752. Management concluded that recurring losses, negative cash flows and limited liquidity raise substantial doubt about the company’s ability to continue as a going concern.

The company notes a Nasdaq notice for non-compliance with the minimum bid-price listing standard and has board approval for a 1‑for‑25 reverse stock split expected to become effective on April 30, 2026. reAlpha continues to build out its homebuying and technology services segments following recent acquisitions.

reAlpha Tech Corp.’s Chief Financial Officer, Thomas J. Kutzman Jr., received 72,218 shares of common stock as part of deferred merger consideration for the company’s acquisition of Prevu, Inc. The shares were valued at $0.3029 each, based on the 10‑day volume‑weighted average price as of March 16, 2026, totaling approximately $21,874.83. Following this issuance, he directly holds 1,183,087 shares of common stock, including 1,000,400 shares underlying restricted stock units granted on November 21, 2025 under the company’s 2022 Equity Incentive Plan.

reAlpha Tech Corp. Chief Financial Officer Thomas J. Kutzman Jr. filed his initial ownership report, showing holdings of 1,000,400 shares of common stock and 110,469 restricted stock units. The RSUs were granted on November 21, 2025 under the company’s 2022 Equity Incentive Plan and vest over three years.

One third of the RSUs vests 12 months after the grant date, with the remaining two thirds vesting in equal quarterly installments over the following 24 months, subject to continued service and plan conditions. All unvested RSUs fully accelerate upon a change of control, and certain acceleration or forfeiture rules apply if his service ends around November 21, 2026.

reAlpha Tech Corp. reported the previously disclosed departure of its Chief Financial Officer, Piyush Phadke, and detailed his separation terms. Under a separation agreement dated March 16, 2026, Mr. Phadke will receive a severance cash payment equal to two months of base salary, totaling $45,833.32, paid over two months starting March 31, 2026.

The company will also accelerate the vesting of 82,539 restricted stock units that were originally scheduled to vest on April 30, 2026. In settlement of these units, reAlpha will issue 82,539 shares of common stock under its effective Form S-8 registration statement within 60 days after his release of claims becomes effective. All of his other unvested equity awards were forfeited and cancelled as of his separation date.

reAlpha Tech Corp. reported sharp top-line growth but continued losses for 2025. Full-year revenue rose 376% to $4.5 million, driven by mortgage brokerage, AI subscription fees and the Prevu real estate acquisition, lifting gross profit to $2.5 million with a 54% margin.

The company posted a net loss of $17.6 million, or $0.23 per basic and diluted share, and Adjusted EBITDA of $(13.7) million after heavy spending on marketing, headcount, technology and integrations. Cash increased to $7.8 million as of December 31, 2025, supported by about $25.5 million of equity-linked financing and repayment of the Streeterville note.

Transaction volume across brokerage, mortgage and title reached $116.1 million, up 203% year over year. Management highlights expanded multi-state licensing, the Prevu acquisition, an agreement to acquire InstaMortgage, and new AI-powered tools and a Homebuying Hub as foundations for scaling its integrated homebuying platform.

reAlpha Tech Corp. filed its annual report describing a pivot from an asset-heavy short‑term rental model to an AI‑driven, end‑to‑end homebuying and technology platform. The company now operates two segments: homebuying services (realty, mortgage brokering, digital title and escrow) and technology services (software development via reAlpha Nepal and conversational AI via AiChat.

For the year ended December 31, 2025, reAlpha reported a net loss of $17,590,392 and an accumulated deficit of $55,980,534, with 131,852,546 common shares outstanding as of March 12, 2026. Management highlights growth plans built on AI tools such as its “Claire” homebuying concierge, “Loan Officer Assistant,” and “Engagement Assistant,” supported by multiple acquisitions and a proposed merger with InstaMortgage to add direct lending capabilities.

The report emphasizes significant risks, including a history of operating losses, reliance on the cyclical U.S. housing market, heavy regulation of real estate, mortgage and title operations, dependence on MLS data access, and emerging regulatory and ethical challenges around AI, data privacy and cybersecurity.

reAlpha Tech Corp. director Antony Prabhu filed a Form 3 insider ownership report for AIRE. The filing lists him as a director and not a ten percent owner, and it shows no reportable transactions or share movements.

reAlpha Tech Corp. reported board and leadership changes and a Nasdaq compliance update. After a prior director resignation left its Audit Committee with only two independent members, the board appointed Prabhu Antony as an independent director and Audit Committee member, and the company believes this restores compliance with Nasdaq’s three‑member audit committee requirement.

The board also appointed Chief Executive Officer Michael J. Logozzo and Mr. Antony as directors to fill vacancies, with Mr. Antony joining the Audit, Compensation, and Nominating and Corporate Governance Committees. The company terminated Chief Financial Officer Piyush Phadke, effective February 25, 2026, and appointed Thomas J. Kutzman Jr. as the new Chief Financial Officer and principal financial and accounting officer, effective the same date. Under his employment agreement, Mr. Kutzman will receive a $275,000 annual base salary and is eligible for an annual cash bonus equal to 66.7% of base salary, plus standard benefits and potential equity awards.

reAlpha Tech Corp. provides preliminary, unaudited figures for the quarter and year ended December 31, 2025. The company estimates total revenue of about $0.8–$1.0 million for the fourth quarter and about $4.4–$4.6 million for full-year 2025.

reAlpha reports cash of approximately $7.7 million as of December 31, 2025, down from about $9.2 million as of September 30, 2025. The company attributes this decline mainly to a commitment fee paid to Yield Bahamas Limited and cash consideration for the acquisition of Prevu, Inc. Management emphasizes these results are preliminary, subject to year-end procedures, and have not been audited or reviewed by GBQ Partners, LLC, which provides no assurance on these estimates.