What is reAlpha Tech's operating income?

reAlpha Tech's total operating income in 2025 was -$16.01 million, based on the following breakdown: Total Gross Profit: $2.45 million Total Operating Expenses: $11.95 million

reAlpha Tech (AIRE) Financials

$1.50 -0.07 (-4.46%)

As of 04:00 PM Eastern

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Annual Income Statements for reAlpha Tech

This table shows reAlpha Tech's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2024	2025
Period end date	4/30/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-5.45	-52	-35
Consolidated Net Income / (Loss)	-5.45	-26	-18
Net Income / (Loss) Continuing Operations	-5.44	-7.68	-18
Total Pre-Tax Income	-5.44	-7.74	-18
Total Operating Income	-4.93	-6.90	-16
Total Gross Profit	0.13	0.65	2.45
Total Revenue	0.42	0.95	4.52
Operating Revenue	0.42	0.95	4.52
Total Cost of Revenue	1.41	3.14	8.57
Operating Cost of Revenue	1.41	3.14	8.57
Total Operating Expenses	3.96	4.71	12
Selling, General & Admin Expense	1.63	3.43	5.24
Marketing Expense	2.00	0.79	5.95
Depreciation Expense	0.16	0.28	0.54
Impairment Charge	-	0.20	0.22
Total Other Income / (Expense), net	-0.50	-0.83	-1.58
Interest Expense	0.17	0.33	1.25
Interest & Investment Income	-	-	0.60
Other Income / (Expense), net	-0.33	-0.50	-0.93
Income Tax Expense	0.00	-0.05	0.00
Net Income / (Loss) Discontinued Operations	-	-18	0.00
Preferred Stock Dividends Declared	-	0.00	0.12
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	0.00	0.00
Basic Earnings per Share	($0.13)	($0.58)	($0.23)
Weighted Average Basic Shares Outstanding	40.44M	44.63M	76.32M
Diluted Earnings per Share	($0.13)	($0.58)	($0.23)
Weighted Average Diluted Shares Outstanding	40.44M	44.63M	76.32M
Weighted Average Basic & Diluted Shares Outstanding	-	46.23M	131.85M

This table shows reAlpha Tech's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-0.78	-1.42	-1.48	-2.10	-47	-5.70	-4.87	-5.78	-23	-8.71	-3.09
Consolidated Net Income / (Loss)	-0.78	-1.42	-1.48	-2.10	-21	-2.85	-4.82	-5.78	-4.85	-4.34	-3.05
Net Income / (Loss) Continuing Operations	-0.78	-1.42	-1.48	-2.03	-2.75	-2.85	-4.82	-5.78	-4.85	-4.34	-3.05
Total Pre-Tax Income	-0.78	-1.20	-1.48	-1.22	-3.85	-2.85	-4.82	-4.21	-7.27	-4.34	-3.05
Total Operating Income	-0.73	-1.31	-1.21	-1.63	-2.76	-2.42	-4.09	-4.95	-4.55	-4.28	-2.90
Total Gross Profit	0.03	0.00	0.04	0.23	0.37	0.52	0.62	0.75	0.56	0.55	0.73
Total Revenue	0.06	0.02	0.06	0.34	0.53	0.93	1.25	1.45	0.90	0.84	1.11
Operating Revenue	0.06	0.02	0.06	0.34	0.53	0.93	1.25	1.45	0.90	0.84	1.11
Total Cost of Revenue	0.30	0.44	0.02	0.90	1.79	1.47	0.63	2.36	4.11	2.42	0.38
Operating Cost of Revenue	0.30	0.44	0.02	0.90	1.79	1.47	0.63	2.36	4.11	2.42	0.38
Total Operating Expenses	0.76	0.89	1.25	1.07	1.50	1.88	4.54	4.04	1.33	2.70	3.61
Selling, General & Admin Expense	0.15	0.68	0.49	0.61	1.65	1.18	1.41	1.37	1.47	1.28	1.25
Marketing Expense	0.03	0.08	0.13	0.24	0.34	0.52	1.48	2.48	1.46	1.26	0.18
Depreciation Expense	0.01	0.07	0.07	0.10	0.04	0.18	0.13	0.13	0.10	0.17	0.17
Other Operating Expenses / (Income)	0.29	0.06	0.57	0.11	-0.74	-	1.40	0.06	-	-	2.01
Impairment Charge	-	-	0.00	0.00	-	-	0.11	0.00	-	-	0.00
Total Other Income / (Expense), net	-0.05	0.11	-0.27	0.41	-1.09	-0.43	-0.90	0.74	-2.73	-0.06	-0.18
Interest Expense	0.03	-0.01	0.00	-0.12	0.46	0.21	0.24	-0.39	1.56	0.02	0.02
Other Income / (Expense), net	-0.02	0.10	-0.27	0.29	-0.62	-0.13	-0.66	0.42	-1.58	-0.05	-0.16
Income Tax Expense	-	-	0.00	0.00	-	0.00	0.00	0.00	-	0.00	0.00
Preferred Stock Dividends Declared	-	-	-	-	-	0.00	0.05	-	-	0.04	0.04
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-0.00	0.00	-0.00	0.00	-0.00	0.00	0.00	0.00	0.00	-0.00
Basic Earnings per Share	($0.02)	($0.03)	($0.03)	($0.05)	($0.47)	($0.06)	($2.37)	($0.07)	($0.02)	($0.03)	($0.57)
Weighted Average Basic Shares Outstanding	42.52M	44.12M	44.24M	44.37M	44.63M	45.91M	2.05M	81.72M	76.32M	132.38M	5.37M
Diluted Earnings per Share	($0.02)	($0.03)	($0.03)	($0.05)	($0.47)	($0.06)	($2.37)	($0.07)	($0.02)	($0.03)	($0.57)
Weighted Average Diluted Shares Outstanding	42.52M	44.12M	44.24M	44.37M	44.63M	45.91M	2.05M	81.72M	76.32M	132.38M	5.37M
Weighted Average Basic & Diluted Shares Outstanding	-	44.12M	44.32M	45.86M	46.23M	51.25M	83.77M	128.04M	131.85M	134.12M	5.88M

This table details how cash moves in and out of reAlpha Tech's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2024	2025
Period end date	4/30/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-0.84	-3.33	4.65
Net Cash From Operating Activities	-4.96	-6.04	-11
Net Cash From Continuing Operating Activities	-4.96	-6.04	-11
Net Income / (Loss) Continuing Operations	-5.45	-26	-18
Consolidated Net Income / (Loss)	-5.45	-26	-18
Depreciation Expense	0.16	0.47	0.54
Amortization Expense	0.00	0.18	0.55
Non-Cash Adjustments To Reconcile Net Income	-0.02	19	5.91
Changes in Operating Assets and Liabilities, net	0.36	0.05	-0.68
Net Cash From Investing Activities	1.08	-1.55	-1.74
Net Cash From Continuing Investing Activities	1.08	-1.55	-1.74
Purchase of Property, Plant & Equipment	-0.43	-0.53	-0.22
Acquisitions	-0.03	-1.27	-1.52
Purchase of Investments	0.00	-0.05	0.00
Sale of Property, Plant & Equipment	1.54	0.29	0.00
Net Cash From Financing Activities	3.04	4.26	18
Net Cash From Continuing Financing Activities	3.04	4.26	18
Repayment of Debt	-1.07	-1.16	-6.62
Issuance of Debt	0.25	6.16	0.16
Issuance of Common Equity	4.28	0.00	25
Other Financing Activities, net	-	-0.73	-0.51
Cash Interest Paid	0.17	0.06	0.47

This table details how cash moves in and out of reAlpha Tech's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	-0.16	-1.62	-1.16	3.39	-3.95	-1.92	-0.62	8.69	-1.51	-3.12	-2.44
Net Cash From Operating Activities	-0.47	-1.53	-1.02	-1.26	-2.24	-2.27	-2.33	-4.25	-2.42	-3.12	-2.35
Net Cash From Continuing Operating Activities	-0.47	-1.53	-1.02	-1.26	-2.24	-2.27	-2.33	-4.25	-2.42	-3.12	-2.35
Net Income / (Loss) Continuing Operations	-0.78	-1.42	-1.48	-2.10	-21	-2.85	-4.82	-5.78	-4.85	-4.34	-3.05
Consolidated Net Income / (Loss)	-0.78	-1.42	-1.48	-2.10	-21	-2.85	-4.82	-5.78	-4.85	-4.34	-3.05
Depreciation Expense	0.01	0.07	0.07	0.16	0.16	0.18	0.08	0.13	0.15	0.17	0.17
Non-Cash Adjustments To Reconcile Net Income	-	0.09	0.20	0.49	18	0.30	1.55	2.74	1.07	0.92	0.05
Changes in Operating Assets and Liabilities, net	0.30	-0.27	0.19	0.19	-0.05	0.03	0.68	-1.63	1.22	0.13	0.48
Net Cash From Investing Activities	0.17	-0.02	-0.06	-0.29	-1.19	0.24	-0.05	-0.24	-1.69	-0.06	-0.05
Net Cash From Continuing Investing Activities	0.24	-0.02	-0.06	-0.29	-1.19	0.24	-0.05	-0.24	-1.69	-0.06	-0.05
Purchase of Property, Plant & Equipment	-0.03	-0.10	0.10	-0.42	-0.10	-0.10	0.08	-0.16	-0.03	-0.06	0.01
Net Cash From Financing Activities	0.14	-0.07	-0.07	4.94	-0.53	0.10	1.77	13	2.60	0.07	-0.03
Net Cash From Continuing Financing Activities	0.14	-0.07	-0.07	4.94	-0.53	0.10	1.77	13	2.60	0.07	-0.03
Repayment of Debt	-	-0.07	-0.07	-0.06	-0.96	-0.28	-1.27	-4.22	-0.85	-0.05	-0.03
Issuance of Common Equity	0.12	0.00	-	-	-	0.23	3.28	17	3.95	0.13	0.01
Cash Interest Paid	-	-	-	0.13	-0.07	0.00	0.04	0.42	0.01	0.01	0.03

This table presents reAlpha Tech's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2023	2024	2025
Period end date	12/31/2023	12/31/2024	12/31/2025
Total Assets	27	12	22
Total Current Assets	7.40	4.04	9.78
Cash & Equivalents	6.46	3.12	7.78
Accounts Receivable	0.03	0.20	0.07
Prepaid Expenses	0.24	0.18	0.96
Other Current Assets	0.58	0.49	0.96
Plant, Property, & Equipment, net	0.33	0.10	0.06
Total Noncurrent Assets	20	7.85	12
Long-Term Investments	0.12	0.22	0.11
Goodwill	0.00	4.21	7.46
Intangible Assets	0.00	3.29	4.31
Total Liabilities & Shareholders' Equity	27	12	22
Total Liabilities	2.72	10	9.20
Total Current Liabilities	2.06	4.15	3.63
Short-Term Debt	0.19	0.78	0.30
Accounts Payable	0.43	0.66	0.31
Accrued Expenses	0.80	1.16	0.66
Current Deferred Revenue	0.59	1.53	2.36
Other Current Liabilities	0.00	0.01	0.01
Total Noncurrent Liabilities	0.65	6.28	5.57
Long-Term Debt	0.25	5.20	0.09
Noncurrent Deferred Revenue	0.41	-	0.56
Other Noncurrent Operating Liabilities	0.00	1.09	4.92
Redeemable Noncontrolling Interest	-	0.00	1.02
Total Equity & Noncontrolling Interests	25	1.57	12
Total Preferred & Common Equity	25	1.56	11
Total Common Equity	25	1.56	11
Common Stock	37	40	68
Retained Earnings	-12	-38	-56
Accumulated Other Comprehensive Income / (Loss)	0.00	0.01	-0.13
Noncontrolling Interest	0.00	0.01	0.01

This table presents reAlpha Tech's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	25	25	34	19	16	20	18	15
Total Current Assets	5.74	4.54	7.99	6.90	5.06	12	5.85	3.48
Cash & Equivalents	4.84	3.68	7.08	1.20	0.59	9.28	4.67	2.23
Accounts Receivable	0.01	0.03	0.17	0.17	0.20	0.04	0.09	0.16
Prepaid Expenses	0.22	0.13	0.05	5.18	3.85	2.51	0.35	0.30
Other Current Assets	0.67	0.69	0.69	0.28	0.37	0.36	0.74	0.79
Plant, Property, & Equipment, net	0.03	0.10	0.11	0.10	0.05	0.05	0.10	0.11
Total Noncurrent Assets	20	20	26	12	10	7.48	12	12
Long-Term Investments	0.28	0.09	0.22	0.21	0.21	0.20	0.06	0.06
Goodwill	17	18	21	7.01	6.17	4.21	7.46	7.46
Intangible Assets	0.93	0.87	4.08	3.26	3.17	3.07	4.16	4.03
Total Liabilities & Shareholders' Equity	25	25	34	19	16	20	18	15
Total Liabilities	2.08	2.43	12	20	17	8.83	8.33	8.46
Total Current Liabilities	1.08	1.38	7.75	12	9.49	3.06	2.75	3.40
Short-Term Debt	-	0.05	4.13	5.71	3.74	0.49	0.26	0.25
Accounts Payable	0.43	0.54	0.61	0.94	1.18	0.20	0.55	0.72
Accrued Expenses	0.52	0.52	1.19	0.99	1.06	1.25	0.33	0.25
Current Deferred Revenue	-	-	1.81	4.19	2.92	1.12	1.61	2.11
Other Current Liabilities	0.13	0.27	0.01	0.01	0.59	0.01	0.01	0.07
Total Noncurrent Liabilities	1.00	1.05	3.89	7.66	7.13	5.77	5.58	5.06
Long-Term Debt	0.00	0.00	1.80	0.24	0.18	0.11	0.07	0.05
Other Noncurrent Operating Liabilities	-	1.05	1.09	7.42	6.95	5.66	4.93	5.00
Redeemable Noncontrolling Interest	-	-	-	-	-	-	1.06	1.10
Total Equity & Noncontrolling Interests	23	22	23	-0.97	-1.10	11	8.25	5.58
Total Preferred & Common Equity	23	22	23	-0.97	-1.11	11	8.24	5.57
Total Common Equity	23	22	23	-0.97	-1.11	11	8.24	5.57
Common Stock	37	37	40	40	44	62	69	69
Retained Earnings	-14	-15	-17	-41	-45	-51	-60	-63
Accumulated Other Comprehensive Income / (Loss)	-	-	-0.03	-0.01	-0.11	-0.10	-0.12	-0.12
Noncontrolling Interest	0.00	0.00	0.00	0.01	0.01	0.01	0.01	0.01

This table displays calculated financial ratios and metrics derived from reAlpha Tech's official financial filings.

Metric	2022	2024	2025
Period end date	4/30/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	44,122,091.00	167,540,078.00
DEI Adjusted Shares Outstanding	0.00	44,122,091.00	6,701,603.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-1.18	-5.27
Growth Metrics	-	-	-
Revenue Growth	0.00%	0.00%	376.42%
EBITDA Growth	0.00%	0.00%	-134.69%
EBIT Growth	0.00%	0.00%	-128.83%
NOPAT Growth	0.00%	0.00%	-131.90%
Net Income Growth	0.00%	0.00%	32.40%
EPS Growth	0.00%	0.00%	60.34%
Operating Cash Flow Growth	0.00%	0.00%	-86.40%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%
Invested Capital Growth	0.00%	0.00%	20.79%
Revenue Q/Q Growth	0.00%	0.00%	12.51%
EBITDA Q/Q Growth	0.00%	0.00%	-22.70%
EBIT Q/Q Growth	0.00%	0.00%	-19.28%
NOPAT Q/Q Growth	0.00%	0.00%	-12.55%
Net Income Q/Q Growth	0.00%	0.00%	47.91%
EPS Q/Q Growth	0.00%	0.00%	66.18%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-1.62%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	-230.77%
Invested Capital Q/Q Growth	0.00%	-80.43%	148.75%
Profitability Metrics	-	-	-
Gross Margin	30.09%	68.15%	54.25%
EBITDA Margin	-1,218.38%	-712.20%	-350.83%
Operating Margin	-1,176.31%	-727.80%	-354.25%
EBIT Margin	-1,256.00%	-780.58%	-374.92%
Profit (Net Income) Margin	-1,300.01%	-2,743.76%	-389.30%
Tax Burden Percent	100.27%	336.34%	100.00%
Interest Burden Percent	103.22%	104.51%	103.83%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-116.47%	-244.65%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-937.41%	14.43%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-1,543.68%	-5.05%
Return on Equity (ROE)	0.00%	-1,660.15%	-249.70%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-263.48%
Operating Return on Assets (OROA)	0.00%	-37.56%	-100.50%
Return on Assets (ROA)	0.00%	-132.03%	-104.36%
Return on Common Equity (ROCE)	0.00%	-1,659.48%	-231.29%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-3.45	-4.83	-11
NOPAT Margin	-823.42%	-509.46%	-247.98%
Net Nonoperating Expense Percent (NNEP)	0.00%	820.95%	-259.08%
Return On Investment Capital (ROIC_SIMPLE)	-	-64.05%	-94.27%
Cost of Revenue to Revenue	335.61%	331.46%	189.74%
SG&A Expenses to Revenue	388.51%	361.58%	116.02%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	944.22%	496.34%	264.51%
Earnings before Interest and Taxes (EBIT)	-5.27	-7.40	-17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-5.11	-6.75	-16
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	0.00	82.68	2.77
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00
Price to Revenue (P/Rev)	227.76	136.00	7.05
Price to Earnings (P/E)	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	31.73	5.06
Enterprise Value to Revenue (EV/Rev)	0.00	138.79	5.61
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.00	3.81	0.03
Long-Term Debt to Equity	0.00	3.31	0.01
Financial Leverage	0.00	1.65	-0.35
Leverage Ratio	0.00	1.50	2.39
Compound Leverage Factor	0.00	1.57	2.48
Debt to Total Capital	0.00%	79.22%	2.98%
Short-Term Debt to Total Capital	0.00%	10.35%	2.29%
Long-Term Debt to Total Capital	0.00%	68.87%	0.69%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.10%	7.99%
Common Equity to Total Capital	0.00%	20.68%	89.03%
Debt to EBITDA	0.00	-0.88	-0.02
Net Debt to EBITDA	0.00	-0.39	0.47
Long-Term Debt to EBITDA	0.00	-0.77	-0.01
Debt to NOPAT	0.00	-1.24	-0.03
Net Debt to NOPAT	0.00	-0.55	0.67
Long-Term Debt to NOPAT	0.00	-1.08	-0.01
Altman Z-Score	0.00	0.99	-3.56
Noncontrolling Interest Sharing Ratio	0.00%	0.04%	7.37%
Liquidity Ratios	-	-	-
Current Ratio	0.00	0.98	2.70
Quick Ratio	0.00	0.80	2.17
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	0.00	-12
Operating Cash Flow to CapEx	0.00%	-2,562.77%	-5,141.81%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-9.63
Operating Cash Flow to Interest Expense	-29.23	-18.10	-8.98
Operating Cash Flow Less CapEx to Interest Expense	-22.71	-18.81	-9.16
Efficiency Ratios	-	-	-
Asset Turnover	0.00	0.05	0.27
Accounts Receivable Turnover	0.00	8.40	34.30
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	0.00	4.40	54.03
Accounts Payable Turnover	0.00	5.78	17.82
Days Sales Outstanding (DSO)	0.00	43.47	10.64
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	63.13	20.48
Cash Conversion Cycle (CCC)	0.00	-19.66	-9.84
Capital & Investment Metrics	-	-	-
Invested Capital	0.00	4.15	5.01
Invested Capital Turnover	0.00	0.23	0.99
Increase / (Decrease) in Invested Capital	0.00	0.00	0.86
Enterprise Value (EV)	0.00	132	25
Market Capitalization	96	129	32
Book Value per Share	$0.00	$0.04	$0.15
Tangible Book Value per Share	$0.00	($0.13)	$0.00
Total Capital	0.00	7.54	13
Total Debt	0.00	5.98	0.38
Total Long-Term Debt	0.00	5.20	0.09
Net Debt	0.00	2.64	-7.51
Capital Expenditures (CapEx)	-1.11	0.24	0.22
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-2.44	-1.34
Debt-free Net Working Capital (DFNWC)	0.00	0.68	6.45
Net Working Capital (NWC)	0.00	-0.10	6.15
Net Nonoperating Expense (NNE)	2.00	21	6.39
Net Nonoperating Obligations (NNO)	0.00	2.58	-7.51
Total Depreciation and Amortization (D&A)	0.16	0.65	1.09
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-257.77%	-29.60%
Debt-free Net Working Capital to Revenue	0.00%	71.57%	142.65%
Net Working Capital to Revenue	0.00%	-10.79%	136.10%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($5.75)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	3.05M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($5.75)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	3.05M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	5.27M
Normalized Net Operating Profit after Tax (NOPAT)	-3.45	-4.69	-11
Normalized NOPAT Margin	-823.42%	-494.48%	-244.57%
Pre Tax Income Margin	-1,296.48%	-815.78%	-389.30%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	-31.03	-22.18	-13.51
NOPAT to Interest Expense	-20.34	-14.48	-8.94
EBIT Less CapEx to Interest Expense	-24.51	-22.89	-13.69
NOPAT Less CapEx to Interest Expense	-13.82	-15.18	-9.11
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	-7.64%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from reAlpha Tech's official financial filings.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	0.00	0.00	0.00	0.00	44,122,091.00	46,230,930.00	51,248,840.00	167,540,078.00	167,540,078.00	167,540,078.00	167,540,078.00
DEI Adjusted Shares Outstanding	0.00	0.00	0.00	0.00	44,122,091.00	46,230,930.00	2,049,954.00	167,540,078.00	6,701,603.00	6,701,603.00	6,701,603.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	0.00	0.00	-1.07	-0.12	-2.38	-0.03	-3.37	-1.30	-0.46
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	-81.67%	13.73%	474.75%	0.00%	4,431.65%	1,908.53%	326.01%	70.08%	-9.14%	-11.34%
EBITDA Growth	0.00%	-33.95%	-81.53%	-60.21%	0.00%	-102.84%	-219.50%	-249.58%	-96.45%	-81.14%	35.81%
EBIT Growth	0.00%	-34.75%	-84.93%	-78.97%	0.00%	-111.70%	-221.59%	-239.38%	-80.89%	-69.75%	35.69%
NOPAT Growth	0.00%	-64.59%	-7.91%	-122.98%	0.00%	-85.38%	-238.11%	-204.51%	-64.66%	-76.72%	29.20%
Net Income Growth	0.00%	-64.07%	-131.76%	-169.88%	0.00%	-100.85%	-225.89%	-175.49%	76.94%	-52.22%	36.71%
EPS Growth	0.00%	-50.00%	-127.27%	-150.00%	0.00%	-100.00%	-225.89%	-40.00%	95.74%	50.00%	75.95%
Operating Cash Flow Growth	0.00%	3.70%	-32.52%	-168.81%	0.00%	-48.44%	-128.10%	-238.20%	-8.02%	-37.79%	-0.83%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%	0.00%	0.00%	167.94%	170.65%	170.38%	0.00%	-133.95%	-134.81%
Invested Capital Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-80.69%	-89.38%	-90.50%	20.79%	40.06%	138.94%
Revenue Q/Q Growth	7.65%	0.00%	205.26%	444.04%	55.18%	75.84%	35.30%	15.39%	-38.04%	-6.06%	32.02%
EBITDA Q/Q Growth	5.63%	0.00%	-24.10%	16.71%	-159.39%	24.35%	-95.47%	-9.58%	-45.77%	30.24%	30.73%
EBIT Q/Q Growth	6.54%	0.00%	-22.50%	9.55%	-153.43%	24.61%	-86.09%	-13.56%	-35.08%	29.25%	29.50%
NOPAT Q/Q Growth	34.97%	0.00%	7.44%	-34.38%	-69.91%	12.28%	-68.81%	-21.02%	8.12%	5.85%	32.37%
Net Income Q/Q Growth	-116.71%	0.00%	-4.18%	-41.96%	-901.94%	86.44%	-69.03%	-40.66%	16.13%	10.52%	29.72%
EPS Q/Q Growth	-118.18%	0.00%	0.00%	-66.67%	-840.00%	87.23%	-69.03%	12.50%	71.43%	-50.00%	-1,800.00%
Operating Cash Flow Q/Q Growth	39.55%	0.00%	32.97%	-22.62%	-78.15%	-1.38%	-2.99%	-81.81%	43.10%	-29.33%	24.63%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	-1.28%	-15.55%	100.00%	0.00%	5.33%	15.09%	-125.73%	-8.83%	-8.01%
Invested Capital Q/Q Growth	0.00%	0.00%	1.72%	14.68%	-80.43%	-15.42%	-44.05%	2.60%	148.75%	-1.92%	-4.54%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	48.56%	10.66%	70.73%	66.58%	71.08%	56.03%	49.62%	51.87%	62.74%	65.66%	66.01%
EBITDA Margin	-1,239.72%	-5,552.25%	-2,257.20%	-345.57%	-577.65%	-248.53%	-359.06%	-283.57%	-667.19%	-495.44%	-259.98%
Operating Margin	-1,234.86%	-6,397.03%	-1,939.59%	-479.09%	-524.56%	-261.69%	-326.51%	-342.45%	-507.82%	-508.96%	-260.74%
EBIT Margin	-1,264.50%	-5,902.06%	-2,368.39%	-393.75%	-643.06%	-275.71%	-379.21%	-313.68%	-683.91%	-515.08%	-275.06%
Profit (Net Income) Margin	-1,317.49%	-6,947.25%	-2,370.88%	-618.63%	-3,994.27%	-307.91%	-384.69%	-400.05%	-541.55%	-515.84%	-274.62%
Tax Burden Percent	100.00%	118.74%	100.06%	172.55%	546.40%	100.00%	100.00%	137.27%	66.65%	100.00%	100.00%
Interest Burden Percent	104.19%	99.13%	100.05%	91.05%	113.68%	111.68%	101.45%	92.91%	118.80%	100.15%	99.84%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	-83.94%	-31.32%	-68.04%	-82.95%	-350.71%	-375.05%	-235.41%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	-823.65%	326.61%	523.70%	-37.70%	-283.12%	-3,827.90%	-425.23%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	-1,356.34%	-9.44%	-16.40%	11.54%	99.06%	-35.65%	-82.16%
Return on Equity (ROE)	0.00%	0.00%	0.00%	0.00%	-1,440.28%	-40.76%	-84.44%	-71.41%	-251.66%	-410.71%	-317.57%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	83.48%	86.97%	79.51%	-263.48%	-330.29%	-432.70%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	0.00%	-30.94%	-23.28%	-57.49%	-46.73%	-183.33%	-126.26%	-77.03%
Return on Assets (ROA)	0.00%	0.00%	0.00%	0.00%	-192.20%	-26.00%	-58.32%	-59.60%	-145.17%	-126.45%	-76.90%
Return on Common Equity (ROCE)	0.00%	0.00%	0.00%	0.00%	-1,439.71%	-40.74%	-84.39%	-71.38%	-233.10%	-357.78%	-254.02%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-0.51	-0.91	-0.85	-1.14	-1.93	-1.70	-2.86	-3.46	-3.18	-3.00	-2.03
NOPAT Margin	-864.40%	-4,477.92%	-1,357.72%	-335.36%	-367.19%	-183.18%	-228.56%	-239.71%	-355.48%	-356.27%	-182.52%
Net Nonoperating Expense Percent (NNEP)	0.00%	-19.70%	-33.92%	-141.72%	739.70%	-357.93%	-591.74%	-45.25%	-67.59%	3,452.84%	189.81%
Return On Investment Capital (ROIC_SIMPLE)	-	-3.93%	-3.80%	-3.99%	-25.62%	-34.02%	-101.62%	-30.13%	-26.78%	-34.91%	-34.45%
Cost of Revenue to Revenue	512.39%	2,140.17%	30.84%	263.98%	340.38%	158.49%	50.38%	163.00%	458.83%	287.41%	33.99%
SG&A Expenses to Revenue	254.49%	3,330.10%	781.17%	180.44%	313.42%	127.78%	112.87%	94.67%	163.88%	151.86%	112.49%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	1,283.42%	4,352.83%	2,008.76%	315.11%	284.34%	203.19%	362.24%	279.44%	148.99%	321.55%	324.80%
Earnings before Interest and Taxes (EBIT)	-0.75	-1.21	-1.48	-1.34	-3.39	-2.55	-4.75	-4.53	-6.12	-4.33	-3.05
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-0.73	-1.13	-1.41	-1.17	-3.04	-2.30	-4.50	-4.10	-5.97	-4.17	-2.89
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	2.31	1.89	2.50	82.68	0.00	0.00	5.76	2.77	3.90	1.86
Price to Tangible Book Value (P/TBV)	0.00	10.73	12.19	0.00	0.00	0.00	0.00	17.36	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	136.00	27.00	5.15	15.61	7.05	7.25	2.42
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	2.68	2.07	2.59	31.73	15.56	9.57	26.71	5.06	5.87	2.02
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	138.79	29.45	6.17	13.40	5.61	6.50	2.21
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	6.03	2.11	5.83	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.26	3.81	-6.16	-3.56	0.05	0.03	0.04	0.05
Long-Term Debt to Equity	0.00	0.00	0.00	0.08	3.31	-0.25	-0.16	0.01	0.01	0.01	0.01
Financial Leverage	0.00	-0.22	-0.17	-0.06	1.65	-0.03	-0.03	-0.31	-0.35	0.01	0.19
Leverage Ratio	0.00	1.09	1.11	1.52	1.50	1.97	1.90	1.61	2.39	4.33	5.50
Compound Leverage Factor	0.00	1.08	1.11	1.38	1.71	2.20	1.93	1.50	2.84	4.34	5.49
Debt to Total Capital	0.00%	0.00%	0.21%	20.84%	79.22%	119.36%	139.07%	5.21%	2.98%	3.43%	4.31%
Short-Term Debt to Total Capital	0.00%	0.00%	0.21%	14.51%	10.35%	114.47%	132.84%	4.25%	2.29%	2.69%	3.52%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	6.33%	68.87%	4.90%	6.23%	0.96%	0.69%	0.74%	0.79%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.01%	0.01%	0.02%	0.10%	0.14%	0.32%	0.09%	7.99%	11.08%	15.86%
Common Equity to Total Capital	0.00%	99.99%	99.77%	79.15%	20.68%	-19.51%	-39.39%	94.70%	89.03%	85.49%	79.83%
Debt to EBITDA	0.00	0.00	0.00	0.00	-0.88	-0.75	-0.36	-0.05	-0.02	-0.02	-0.02
Net Debt to EBITDA	0.00	0.00	0.00	0.00	-0.39	-0.57	-0.28	0.69	0.47	0.25	0.12
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	-0.77	-0.03	-0.02	-0.01	-0.01	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	-1.24	-1.06	-0.51	-0.06	-0.03	-0.03	-0.03
Net Debt to NOPAT	0.00	0.00	0.00	0.00	-0.55	-0.81	-0.41	0.89	0.67	0.35	0.17
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	-1.08	-0.04	-0.02	-0.01	-0.01	-0.01	0.00
Altman Z-Score	0.00	14.82	9.48	2.08	2.09	-2.24	-4.67	0.64	-1.91	-2.82	-5.51
Noncontrolling Interest Sharing Ratio	0.00%	0.01%	0.01%	0.02%	0.04%	0.04%	0.06%	0.05%	7.37%	12.89%	20.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	5.30	3.30	1.03	0.98	0.58	0.53	3.99	2.70	2.13	1.02
Quick Ratio	0.00	4.48	2.70	0.94	0.80	0.12	0.08	3.05	2.17	1.73	0.71
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-19	-19	-22	0.00	13	14	16	-4.05	-4.40	-4.75
Operating Cash Flow to CapEx	0.00%	-7,752.48%	0.00%	-295.65%	0.00%	-2,159.66%	0.00%	-2,614.29%	-8,175.93%	-4,895.40%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-28,510.11	0.00	0.00	63.23	56.29	0.00	-2.60	-178.37	-283.18
Operating Cash Flow to Interest Expense	-14.93	0.00	-1,509.80	0.00	-4.83	-11.06	-9.62	0.00	-1.55	-126.57	-140.22
Operating Cash Flow Less CapEx to Interest Expense	-7.28	0.00	-1,367.53	0.00	-4.59	-11.57	-9.30	0.00	-1.57	-129.16	-139.89
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.00	0.05	0.08	0.15	0.15	0.27	0.25	0.28
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	8.40	20.12	26.30	37.41	34.30	33.63	23.70
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	4.40	28.67	40.10	51.37	54.03	43.35	54.57
Accounts Payable Turnover	0.00	0.00	0.00	0.00	5.78	6.07	5.56	15.36	17.82	12.76	9.71
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	43.47	18.14	13.88	9.76	10.64	10.85	15.40
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	63.13	60.10	65.62	23.77	20.48	28.60	37.57
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	-19.66	-41.96	-51.74	-14.01	-9.84	-17.74	-22.17
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	18	18	21	4.15	3.51	1.96	2.01	5.01	4.91	4.69
Invested Capital Turnover	0.00	0.00	0.00	0.00	0.23	0.17	0.30	0.35	0.99	1.05	1.29
Increase / (Decrease) in Invested Capital	0.00	18	18	21	0.00	-15	-17	-19	0.86	1.41	2.73
Enterprise Value (EV)	0.00	49	38	55	132	55	19	54	25	29	9.49
Market Capitalization	96	54	42	56	129	50	16	63	32	32	10
Book Value per Share	$0.00	$0.53	$0.50	$0.51	$0.04	($0.02)	($0.54)	$0.13	$0.15	$0.06	$1.04
Tangible Book Value per Share	$0.00	$0.11	$0.08	($0.07)	($0.13)	($0.24)	($5.10)	$0.04	$0.00	($0.03)	($1.10)
Total Capital	0.00	23	22	28	7.54	4.98	2.82	11	13	9.64	6.98
Total Debt	0.00	0.00	0.05	5.94	5.98	5.95	3.92	0.60	0.38	0.33	0.30
Total Long-Term Debt	0.00	0.00	0.00	1.80	5.20	0.24	0.18	0.11	0.09	0.07	0.05
Net Debt	0.00	-5.12	-3.72	-1.36	2.64	4.53	3.12	-8.89	-7.51	-4.40	-1.99
Capital Expenditures (CapEx)	-0.24	0.02	-0.10	0.42	-0.11	0.10	-0.08	0.16	0.03	0.06	-0.01
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-0.18	-0.47	-2.71	-2.44	-0.44	-1.27	0.34	-1.34	-1.31	-1.90
Debt-free Net Working Capital (DFNWC)	0.00	4.66	3.21	4.37	0.68	0.76	-0.69	9.62	6.45	3.36	0.33
Net Working Capital (NWC)	0.00	4.66	3.16	0.24	-0.10	-4.95	-4.43	9.13	6.15	3.10	0.08
Net Nonoperating Expense (NNE)	0.27	0.50	0.63	0.96	19	1.15	1.96	2.32	1.67	1.34	1.02
Net Nonoperating Obligations (NNO)	0.00	-5.12	-3.72	-1.36	2.58	4.47	3.06	-8.89	-7.51	-4.40	-1.99
Total Depreciation and Amortization (D&A)	0.01	0.07	0.07	0.16	0.34	0.25	0.25	0.44	0.15	0.17	0.17
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	-257.77%	-23.99%	-41.80%	8.54%	-29.60%	-29.44%	-44.28%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	71.57%	40.99%	-22.51%	239.58%	142.65%	75.83%	7.69%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	-10.79%	-266.82%	-145.45%	227.42%	136.10%	69.99%	1.97%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($0.03)	$0.00	($0.05)	($11.75)	($1.50)	$0.00	($0.07)	($0.50)	($0.75)	($0.57)
Adjusted Weighted Average Basic Shares Outstanding	0.00	44.12M	0.00	44.37M	1.79M	1.84M	0.00	81.72M	3.05M	5.30M	5.37M
Adjusted Diluted Earnings per Share	$0.00	($0.03)	$0.00	($0.05)	($11.75)	($1.50)	$0.00	($0.07)	($0.50)	($0.75)	($0.57)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	44.12M	0.00	45.14M	1.79M	1.91M	0.00	81.72M	3.05M	5.30M	5.37M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	44.12M	0.00	45.86M	1.85M	2.05M	0.00	128.04M	5.27M	5.36M	5.88M
Normalized Net Operating Profit after Tax (NOPAT)	-0.51	-0.91	-0.85	-1.14	-1.93	-1.70	-2.79	-3.46	-3.18	-3.00	-2.03
Normalized NOPAT Margin	-864.40%	-4,477.92%	-1,357.72%	-335.36%	-367.19%	-183.18%	-222.64%	-239.71%	-355.48%	-356.27%	-182.52%
Pre Tax Income Margin	-1,317.49%	-5,850.93%	-2,369.48%	-358.53%	-731.02%	-307.91%	-384.69%	-291.44%	-812.47%	-515.84%	-274.62%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-23.87	0.00	-2,178.12	0.00	-7.31	-12.45	-19.57	0.00	-3.94	-175.53	-181.90
NOPAT to Interest Expense	-16.31	0.00	-1,248.64	0.00	-4.17	-8.27	-11.80	0.00	-2.05	-121.41	-120.70
EBIT Less CapEx to Interest Expense	-16.21	0.00	-2,035.85	0.00	-7.07	-12.96	-19.25	0.00	-3.96	-178.12	-181.56
NOPAT Less CapEx to Interest Expense	-8.66	0.00	-1,106.37	0.00	-3.93	-8.78	-11.48	0.00	-2.07	-124.00	-120.36
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

reAlpha Tech’s second-quarter 2026 results showed better sequential profitability and cash-flow performance, although the company remains deeply unprofitable and continues to consume cash. The figures also include restated periods and unusual changes in reported share counts, so investors should interpret per-share trends cautiously.

Revenue improved sequentially: Q2 2026 revenue rose to $1.1 million from $841,000 in Q1, a 32% increase. However, revenue was still below the $1.25 million reported in Q2 2025.
Gross margin strengthened: Gross profit increased to $733,000, producing an approximately 66% gross margin versus roughly 50% in Q2 2025. This suggests improved revenue economics despite lower year-over-year sales.
Operating losses narrowed: The operating loss improved to $2.9 million in Q2 from $4.3 million in Q1 and $4.1 million in the year-ago quarter. Selling, general and administrative expense remained relatively stable, while marketing expense fell sharply from $1.26 million in Q1 to $178,000.
Cash burn moderated: Net cash used in operating activities declined to $2.4 million in Q2 from $3.1 million in Q1. The company also reported a smaller net loss of $3.0 million, compared with a $4.3 million loss in Q1.
Debt levels are relatively modest: Short- and long-term debt totaled approximately $301,000 at June 30, 2026, down from roughly $330,000 at March 31. This limits direct interest-rate and refinancing pressure, although other liabilities remain substantial.
Deferred revenue increased: Current deferred revenue rose to $2.1 million from $1.6 million in Q1. This can represent future revenue already contracted or collected, but it also creates an obligation to deliver services before the revenue can be recognized.
Asset growth is concentrated in goodwill and intangibles: Goodwill and intangible assets totaled approximately $11.5 million, or about 76% of total assets. Their value depends on the performance of acquired businesses and could be reduced by future impairment charges.
Liquidity deteriorated materially: Cash and equivalents fell to $2.2 million from $4.7 million in Q1 and $5.9 million in Q2 2025. At the Q2 operating cash-burn rate, the cash balance provides only limited funding without additional improvement or financing.
Operating losses remain persistent: reAlpha Tech has reported operating and net losses in each comparable quarter provided, extending back through 2023. Q2 2026’s $3.0 million net loss was still nearly three times quarterly revenue.
Working-capital flexibility has weakened: Total current assets declined to $3.5 million while current liabilities increased to $3.4 million, reducing the current ratio to approximately 1.0 from 2.1 in Q1. Accounts payable and deferred revenue also rose, increasing near-term obligations.

Overall, the latest quarter provides some encouraging signs: revenue recovered from Q1, gross margins improved, marketing spending was reduced, and cash losses narrowed. Nevertheless, the balance sheet is becoming less liquid while the business continues to lose money. Sustained revenue growth, further expense reductions and a clear path to positive operating cash flow will be important for reducing the risk of additional equity financing or other capital raises.

09/04/26 10:51 PM ETAI Generated. May Contain Errors.

reAlpha Tech Financials - Frequently Asked Questions

According to the most recent income statement we have on file, reAlpha Tech's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

reAlpha Tech's net income appears to be on an upward trend, with a most recent value of -$17.59 million in 2025, rising from -$5.45 million in 2022. The previous period was -$26.02 million in 2024. See where experts think reAlpha Tech is headed by visiting reAlpha Tech's forecast page.

reAlpha Tech's total operating income in 2025 was -$16.01 million, based on the following breakdown:

Total Gross Profit: $2.45 million
Total Operating Expenses: $11.95 million

Over the last 2 years, reAlpha Tech's total revenue changed from $419.41 thousand in 2022 to $4.52 million in 2025, a change of 977.3%.

reAlpha Tech's total liabilities were at $9.20 million at the end of 2025, a 11.8% decrease from 2024, and a 238.6% increase since 2023.

In the past 2 years, reAlpha Tech's cash and equivalents has ranged from $3.12 million in 2024 to $7.78 million in 2025, and is currently $7.78 million as of their latest financial filing in 2025.

Over the last 2 years, reAlpha Tech's book value per share changed from 0.00 in 2022 to 0.15 in 2025, a change of 15.1%.

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Financial statements for NASDAQ:AIRE last updated on 8/24/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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reAlpha Tech (AIRE) Financials

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reAlpha Tech (AIRE) Financials

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