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reAlpha Tech Corp.
American real estate company that raised $428.1 million in 2026 (SEC Form D).
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Last updated Oct 18, 2026.
Overview
Compare with Alset Inc., NAM TAI PROPERTY INC. or Redwood Mortgage Investors IX, or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
54.3%Gross margin3
-354.3%Operating margin3
-389.4%Net margin3
376.4%Revenue growth, 20253
-153.1%Return on equity3
-$11.3MFree cash flow3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Homebuying Services brought in 77% of the revenue reAlpha Tech Corp. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Homebuying Services | $610.9K | $3.5M |
| Technology Services | $337.5K | $1.0M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue46¢$2.1M
- Other costs54¢$2.5M
Out of $4.5M in revenue.3 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Revenues | $4.5M | $948.4K |
| Cost of revenues | $2.1M | $302.1K |
| Gross Profit | $2.5M | $646.3K |
| Wages, benefits and payroll taxes | $6.5M | $2.8M |
| Marketing and advertising | $5.9M | $793.0K |
| Professional and legal fees | $3.3M | $2.1M |
| Depreciation and amortization | $543.2K | $282.1K |
| Impairment of capitalized software | $220.0K | $203.0K |
| Other operating expense | $2.0M | $1.3M |
| Total operating expense | $18.5M | $7.5M |
| Operating Loss | -$16.0M | -$6.9M |
| Changes in fair value of contingent consideration | -$604.1K | |
| Interest expense, net | $814.7K | $333.8K |
| Change in fair value of preferred stock embedded derivative liability | $456.3K | |
| Loss on debt extinguishment | $438.8K | |
| Amortization of commitment fee | $406.2K | $500.0K |
| Other expense, net | $71.4K | $601 |
| Total other expense | $1.6M | $834.4K |
| Net Loss from continuing operations before income taxes | -$17.6M | -$7.7M |
| Income tax benefit | -$54.3K | |
| Net Loss from continuing operations | -$17.6M | -$7.7M |
| Loss from operations of discontinued operations | -$261.2K | |
| Impairment of goodwill and intangible assets of discontinued operations | -$18.1M | |
| Loss on discontinued operations | -$18.3M | |
| Net Loss | -$17.6M | -$26.0M |
| Less: Net Income Attributable to Non-Controlling Interests | $3.6K | $679 |
| Net Loss Attributable to Controlling Interests | -$17.6M | -$26.0M |
| Preferred stock dividends | $122.9K | |
| Net Loss Attributable to Common Stockholders | -$17.7M | -$26.0M |
| Foreign currency translation adjustments | -$132.9K | $5.0K |
| Total other comprehensive (loss) income | -$132.9K | $5.0K |
| Comprehensive Loss Attributable to Controlling Interests | -$17.8M | -$26.0M |
| Continuing operations (in Dollars per share) | -$0 | -$0 |
| Discontinued operations (in Dollars per share) | -$0 | |
| Net Loss per share basic (in Dollars per share) | -$0.23 | -$0.58 |
| Continuing operations (in Dollars per share) | -$0 | -$0 |
| Net loss per share diluted (in Dollars per share) | -$0.23 | -$0.58 |
| Weighted-average outstanding shares basic (in Shares) | 76.3M shares | 44.6M shares |
| Weighted-average outstanding shares diluted (in Shares) | 76.3M shares | 44.6M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2024-05-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash | $7.8M | $3.1M | ||
| Accounts receivable, net | $68.1K | $182.4K | ||
| Prepaid expenses | $961.4K | $180.2K | ||
| Current assets of discontinued operations | $56.9K | |||
| Other current assets | $362.3K | $487.2K | ||
| Escrow deposit | $600.0K | |||
| Total current assets | $9.8M | $4.0M | ||
| Property and equipment, net | $64.6K | $102.6K | ||
| Investments | $111.6K | $215.0K | ||
| Other long-term assets | $31.2K | |||
| Intangible assets, net | $4.3M | $3.3M | ||
| Goodwill | $7.5M | $4.2M | $90.0K | |
| Capitalized software development - work in progress | $105.9K | |||
| TOTAL ASSETS | $21.7M | $12.0M | ||
| Accounts payable | $306.2K | $655.8K | ||
| Accrued expenses | $660.6K | $1.2M | ||
| Deferred liabilities - current portion | $2.0M | $1.3M | ||
| Deferred revenue | $396.2K | $278.9K | ||
| Total current liabilities | $3.6M | $4.1M | ||
| Preferred stock embedded derivative liability | $4.6M | |||
| Note payable, net of discount | $4.9M | |||
| Deferred consideration - net of current portion | $561.7K | |||
| Contingent consideration | $344.9K | $1.1M | ||
| Total liabilities | $9.2M | $10.4M | ||
| Redeemable Series A Convertible Preferred Stock, $0.001 par value; 5,000,000 shares authorized, of which 1,000,000 shares are designated as Series A Convertible Preferred Stock; 250,000 and 0 shares issued and outstanding as of December 31, 2025 and 2024, respectively. | $1.0M | |||
| Common stock ($0.001 par value; 200,000,000 shares authorized, 131,740,675 shares outstanding as of December 31, 2025; 200,000,000 shares authorized, 45,864,503 shares outstanding as of December 31, 2024) | $131.7K | $45.9K | ||
| Additional paid-in capital | $67.5M | $39.8M | ||
| Accumulated deficit | -$56.0M | -$38.3M | ||
| Accumulated other comprehensive (loss) income | -$127.9K | $5.0K | ||
| Total stockholders equity of reAlpha Tech Corp. | $11.5M | $1.6M | ||
| Non-controlling interests in consolidated entities | $11.0K | $7.4K | ||
| Total stockholders equity | $11.5M | $1.6M | $24.7M | |
| TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS EQUITY | $21.7M | $12.0M | ||
| Preferred stock, par value (in Dollars per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in Shares) | 5.0M shares | 5.0M shares | ||
| Preferred stock, shares designated (in Shares) | 1.0M shares | 1.0M shares | ||
| Preferred stock, shares issued (in Shares) | 250.0K shares | 0 shares | ||
| Preferred stock, shares outstanding (in Shares) | 250.0K shares | 0 shares | ||
| Common stock, par value (in Dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in Shares) | 200.0M shares | 200.0M shares | ||
| Common stock, shares outstanding (in Shares) | 131.7M shares | 45.9M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2024-05-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash | $7.8M | $3.1M | ||
| Accounts receivable, net | $68.1K | $182.4K | ||
| Prepaid expenses | $961.4K | $180.2K | ||
| Current assets of discontinued operations | $56.9K | |||
| Other current assets | $362.3K | $487.2K | ||
| Escrow deposit | $600.0K | |||
| Total current assets | $9.8M | $4.0M | ||
| Property and equipment, net | $64.6K | $102.6K | ||
| Investments | $111.6K | $215.0K | ||
| Other long-term assets | $31.2K | |||
| Intangible assets, net | $4.3M | $3.3M | ||
| Goodwill | $7.5M | $4.2M | $90.0K | |
| Capitalized software development - work in progress | $105.9K | |||
| TOTAL ASSETS | $21.7M | $12.0M | ||
| Accounts payable | $306.2K | $655.8K | ||
| Accrued expenses | $660.6K | $1.2M | ||
| Deferred liabilities - current portion | $2.0M | $1.3M | ||
| Deferred revenue | $396.2K | $278.9K | ||
| Total current liabilities | $3.6M | $4.1M | ||
| Preferred stock embedded derivative liability | $4.6M | |||
| Note payable, net of discount | $4.9M | |||
| Deferred consideration - net of current portion | $561.7K | |||
| Contingent consideration | $344.9K | $1.1M | ||
| Total liabilities | $9.2M | $10.4M | ||
| Redeemable Series A Convertible Preferred Stock, $0.001 par value; 5,000,000 shares authorized, of which 1,000,000 shares are designated as Series A Convertible Preferred Stock; 250,000 and 0 shares issued and outstanding as of December 31, 2025 and 2024, respectively. | $1.0M | |||
| Common stock ($0.001 par value; 200,000,000 shares authorized, 131,740,675 shares outstanding as of December 31, 2025; 200,000,000 shares authorized, 45,864,503 shares outstanding as of December 31, 2024) | $131.7K | $45.9K | ||
| Additional paid-in capital | $67.5M | $39.8M | ||
| Accumulated deficit | -$56.0M | -$38.3M | ||
| Accumulated other comprehensive (loss) income | -$127.9K | $5.0K | ||
| Total stockholders equity of reAlpha Tech Corp. | $11.5M | $1.6M | ||
| Non-controlling interests in consolidated entities | $11.0K | $7.4K | ||
| Total stockholders equity | $11.5M | $1.6M | $24.7M | |
| TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS EQUITY | $21.7M | $12.0M | ||
| Preferred stock, par value (in Dollars per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in Shares) | 5.0M shares | 5.0M shares | ||
| Preferred stock, shares designated (in Shares) | 1.0M shares | 1.0M shares | ||
| Preferred stock, shares issued (in Shares) | 250.0K shares | 0 shares | ||
| Preferred stock, shares outstanding (in Shares) | 250.0K shares | 0 shares | ||
| Common stock, par value (in Dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in Shares) | 200.0M shares | 200.0M shares | ||
| Common stock, shares outstanding (in Shares) | 131.7M shares | 45.9M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$17.6M | -$26.0M |
| Depreciation and amortization | $543.2K | $466.7K |
| Impairment of capitalized software | $220.0K | $145.7K |
| Impairment of goodwill and intangible assets | $18.3M | |
| Amortization of loan discounts | $545.6K | $181.9K |
| Common stock issued to non - employee | $2.5K | |
| Stock-based compensation - employees | $860.0K | $207.5K |
| Stock-based compensation - services | $108.7K | |
| Change in fair value of contingent consideration | -$604.1K | |
| Loss on extinguishment of debt | $438.8K | |
| Change in fair value of preferred stock embedded derivative liability | $456.3K | |
| Non-cash commitment fee expenses | $406.2K | $500.0K |
| Non-cash marketing and advertising | $4.4M | |
| Non-cash compensation expense - GTG Financial | $106.0K | |
| Gain on previously held equity | -$20.7K | |
| Loss (gain) on deconsolidation | -$94.1K | |
| Loss (gain) on sale of fixed assets | $52.9K | $301 |
| Impairment of equity investments - measurement alternative | $90.0K | |
| Loss from equity method investment | $13.4K | |
| Interest accretion on deferred consideration - Prevu | $20.4K | |
| Accounts receivable | $114.3K | -$16.4K |
| Receivable from related parties | $12.9K | -$12.9K |
| Prepaid expenses | -$187.8K | -$56.2K |
| Other current assets | -$292.3K | $62.6K |
| Accounts payable | -$491.8K | -$19.8K |
| Payable to related parties | -$3.6K | $58.8K |
| Accrued expenses | -$404.9K | -$185.1K |
| Deferred revenue | $117.3K | $278.1K |
| Total adjustments | $6.3M | $20.0M |
| Net cash used in operating activities | -$11.3M | -$6.0M |
| Additions to property and equipment | -$42.9K | -$12.5K |
| Proceeds from sale of properties | $293.3K | |
| Cash paid for acquisitions, net of cash acquired | -$1.0M | -$1.3M |
| Cash deposited into escrow in connection with acquisitions | -$500.0K | |
| Cash paid for equity method investment | -$50.0K | |
| Cash used for additions to capitalized software | -$176.1K | -$516.5K |
| Net cash used in investing activities | -$1.7M | -$1.6M |
| Proceeds from issuance of debt | $155.5K | $6.2M |
| Prepayment penalty | -$368.8K | |
| Proceeds from issuance of common stock | $25.6M | |
| Payments of debt | -$5.6M | -$1.2M |
| Contingent consideration paid-reAlpha Nepal | -$137.0K | |
| Payment of commitment fee | -$1.0M | |
| Deferred financing cost | -$727.5K | |
| Equity issuance expenses | -$941.7K | |
| Net cash provided by financing activities | $17.7M | $4.3M |
| Net increase in cash | $4.6M | -$3.3M |
| Effect of exchange rate changes on cash | $13.5K | |
| Interest expense | -$468.7K | -$58.9K |
| Preferred stock issuance - MMC transaction (in Shares) | 5.0M shares | |
| Non-cash conversion of debt to equity - Streeterville Capital, LLC | $740.1K | |
| Issuance of common stock - Prevu (in Shares) | 1.4M shares | |
| Issuance of common stock - AiChat (in Shares) | 180.5K shares | |
| Issuance of warrants to placement agents in connection with equity offerings | $299.8K | |
| Deferred consideration - Prevu | $2.3M |
No quarter-by-quarter statement was filed.
Leadership
Who has led reAlpha Tech Corp., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chair
Chief financial officer
Chief operating officer
2025
- Chief executive officerMichael J. Logozzo Aug 1, 2025 to now7
- Chief executive officerGiri Devanur Oct 20, 2023 to Aug 1, 20258
- ChairGiri Devanur May 1, 2025 to now9
- PresidentMichael J. Logozzo May 1, 2025 to now10
- PresidentGiri Devanur Oct 20, 2023 to Oct 20, 20238
- Chief financial officerThomas J. Kutzman Jr. Apr 2, 2026 to now11
- Chief financial officerPiyush Phadke Jan 31, 2025 to Apr 2, 202612
- Chief financial officerMichael Charles Frenz Feb 6, 2024 to Jun 14, 202413
- Chief financial officerMichael J. Logozzo Oct 20, 2023 to Oct 20, 202314
- Chief operating officerMichael J. Logozzo May 1, 2025 to now10
- Chief operating officerJorge Aldecoa Oct 20, 2023 to Oct 20, 202315
Board members and other officers (8)
- OfficerRakesh Prasad Oct 18, 2024 to Oct 18, 202416
- Board memberPrabhu Antony Mar 6, 2026 to now17
- Board memberMichael J. Logozzo May 4, 2026 to now18
- Board memberBalaji Swaminathan Oct 20, 2023 to now19
- Board memberBrian D. Cole Oct 20, 2023 to now20
- Board memberDimitrios Angelis Oct 20, 2023 to now21
- Board memberGiri Devanur Oct 20, 2023 to Oct 20, 20238
- Board memberMonaz Karkaria Oct 20, 2023 to now22
Former names
- ReAlpha Asset Management IncMay 7, 2021 to Jan 30, 20232
Timeline
Filings
347 filings to the SEC since October 2021: 4 annual reports, 10 quarterly reports, 97 major events, 53 insider forms, 2 large holders, 6 private raises, 175 other. The latest 20:
- Oct 7, 20268-K CURRENT REPORT EDGAR
- Sep 25, 2026ARS EDGAR
- Sep 25, 2026DEFA14A PROXY STATEMENT EDGAR
- Sep 25, 2026DEF 14A PROXY STATEMENT EDGAR
- Sep 23, 20268-K/A AMENDMENT NO. 1 TO FORM 8-K EDGAR
- Sep 15, 2026PRE 14A PROXY STATEMENT EDGAR
- Sep 11, 20268-K CURRENT REPORT EDGAR
- Sep 1, 2026D EDGAR
- Aug 25, 20268-K CURRENT REPORT EDGAR
- Aug 21, 20268-K CURRENT REPORT EDGAR
- Aug 14, 20268-K CURRENT REPORT EDGAR
- Aug 14, 202610-Q QUARTERLY REPORT EDGAR
- Aug 13, 20264 EDGAR
- Aug 13, 20264 EDGAR
- Aug 6, 20268-K CURRENT REPORT EDGAR
- Aug 3, 20264 EDGAR
- Aug 3, 20264 EDGAR
- Aug 3, 20264 EDGAR
- Aug 3, 20264 EDGAR
- Aug 3, 20264 EDGAR
The 347 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 2 such filings since October 2021:
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Money raised
Private offerings the company reported to the SEC on Form D.
- Aug 19, 2026Raised $1.5 million in a private offering of equity Form D: $6.5 million offered in all Form D
- Nov 21, 2025Raised $1.4 million in a private offering of equity Form D: $3.9 million offered in all Form D
- Jul 22, 2025Raised $5.3 million in a private offering of equity Form D: 7 investors so far Form D
- Apr 6, 2025Raised $6.3 million in a private offering of equity Form D: 5 investors so far Form D
- Mar 24, 2023Raised $13.1 million in a private offering of equity Form D: 17 investors so far Form D
- Mar 21, 2023Raised $400.5 million in a private offering of equity Form D: 30 investors so far Form D
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Vanguard Capital Management LLC | 54,191 | $104.6K | 0.0% | New |
| Jane Street Group, LLC | 43,201 | $83.4K | 0.0% | New |
| Geode Capital Management, LLC | 42,289 | $81.7K | 0.0% | New |
| BlackRock, Inc. | 40,658 | $78.5K | 0.0% | New |
| XTX Topco Ltd | 30,239 | $58.4K | 0.0% | New |
| Vanguard Fiduciary Trust Co | 22,786 | $44.0K | 0.0% | New |
| Citadel Advisors LLC | 22,210 | $42.9K | 0.0% | New |
| UBS Group AG | 7,236 | $14.0K | 0.0% | New |
| Tower Research Capital LLC (TRC) | 1,531 | $3.0K | 0.0% | New |
| Northwestern Mutual Wealth Management Co | 200 | $386 | 0.0% | New |
| Pinnacle Wealth Planning Services, Inc. | 200 | $386 | 0.0% | New |
| Morgan Stanley | 94 | $181 | 0.0% | New |
| Barclays PLC | 34 | $66 | 0.0% | New |
| Arax Advisory Partners | 14 | $28 | 0.0% | New |
| Osaic Holdings, Inc. | 10 | $19 | 0.0% | New |
| Larson Financial Group LLC | 10 | $19 | 0.0% | New |
| Colonial Trust Advisors | 4 | $8 | 0.0% | −107 |
| Caitong International Asset Management Co., Ltd | 2 | $4 | 0.0% | New |
| Main Street Group, LTD | 2 | $4 | 0.0% | New |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
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- 4
- 5
- 6
- 7
- 8
- 9SEC EDGARGiri Devanur, Chair
- 10SEC EDGARMichael J. Logozzo, President
- 11
- 12
- 13
- 14
- 15
- 16SEC EDGARRakesh Prasad, Officer
- 17SEC EDGARPrabhu Antony, Board member
- 18SEC EDGARMichael J. Logozzo, Board member
- 19SEC EDGARBalaji Swaminathan, Board member
- 20SEC EDGARBrian D. Cole, Board member
- 21SEC EDGARDimitrios Angelis, Board member
- 22SEC EDGARMonaz Karkaria, Board member
- 23