reAlpha Tech (AIRE) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was $841,062, down 9% year-over-year, with homebuying services contributing $577,473 and technology services $263,589.

• Gross profit margin improved to 66% from 56% year-over-year, driven by a shift in revenue mix and lower cost of revenues.

• Net loss for the quarter was $4,338,495, compared to $2,850,167 in Q1 2025, reflecting higher operating expenses and increased stock-based compensation.

• Adjusted EBITDA was $(3,795,500), a 94% decrease from $(1,960,997) in Q1 2025, mainly due to higher expenses.

• Platform enhancements included the launch of a Homebuying Hub, improved offer functionality, and upgraded MLS data pipeline.

Financial highlights

• Revenue decreased 9% year-over-year, primarily due to the absence of GTG Financial revenue, partially offset by Prevu's contribution.

• Operating expenses rose 64% to $4,832,923, driven by increased headcount, marketing, and stock-based compensation.

• Gross profit rose to $0.6 million, with gross margin increasing to 66% from 56% due to higher-margin technology services.

• Cash and cash equivalents declined to $4.7 million from $7.8 million at year-end 2025.

• Cash used in operating activities was $3.1 million, up from $2.3 million in Q1 2025.

Outlook and guidance

• Management expects continued operating losses and negative cash flows, with current cash sufficient for approximately five months.

• Plans to seek additional capital through equity or debt offerings, but market volatility may impact ability to raise funds.

• A 1-for-25 reverse stock split is planned to regain Nasdaq compliance.

• Management is focused on improving platform execution, conversion, and operational efficiency to position for future growth.