reAlpha Tech Corp.
AIRE Nasdaq Real Estate Financials FY2021–FY2025
Revenue
Total sales reported in the income statement.
$4.5M
vs prior year
Operating margin
Operating income as a share of revenue.
−354.3%
Net income
Profit after all expenses, interest and tax.
−$17.6M
Free cash flow
Cash from operations minus capital spending.
−$11.3M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On $1.60 EPS (TTM)
What reAlpha Tech Corp. does
No business description yet.
- Legal name
- reAlpha Tech Corp.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 12, 2026
- Accession · CIK
- 0001213900-26-026653
0001859199
Revenue and margins
reAlpha Tech Corp. had $4.5M of revenue in fiscal 2025.
FY21
Revenue $0.3M
FY22
Revenue $0.4M
FY24
Revenue —
FY25
Revenue $4.5M
Q1 '22
Revenue —
Q2 '22
Revenue $0.1M
Q4 '22
Revenue $0.1M
Q1 '24
Revenue $0.1M
Q2 '24
Revenue $0.0M
Q4 '24
Revenue $0.3M
Q1 '25
Revenue $0.9M
Q2 '25
Revenue $1.3M
Q3 '25
Revenue $1.4M
Q4 '25
Revenue $0.9M
Q1 '26
Revenue $0.8M
Q2 '26
Revenue $1.1M
FY21
Gross 45.3%
Operating −1,581.2%
Net −1,761.4%
FCF —
FY22
Gross 30.1%
Operating −1,176.3%
Net −1,300.2%
FCF —
FY24
Gross —
Operating —
Net —
FCF —
FY25
Gross 54.3%
Operating −354.3%
Net −389.4%
FCF −250.2%
Gross
Operating
Net
FCF
Q1 '22
Gross —
Operating —
Net —
FCF —
Q2 '22
Gross 24.3%
Operating −1,345.2%
Net −1,408.6%
FCF —
Q4 '22
Gross 36.5%
Operating −712.0%
Net −775.5%
FCF —
Q1 '24
Gross 44.5%
Operating −1,431.6%
Net 8,837.8%
FCF —
Q2 '24
Gross 9.3%
Operating −12,508.4%
Net −12,695.2%
FCF —
Q4 '24
Gross 66.6%
Operating −479.1%
Net −618.7%
FCF —
Q1 '25
Gross 56.0%
Operating −261.7%
Net −307.9%
FCF −246.4%
Q2 '25
Gross 49.6%
Operating −326.5%
Net −384.8%
FCF −187.5%
Q3 '25
Gross 51.9%
Operating −342.5%
Net −400.2%
FCF −294.1%
Q4 '25
Gross 62.7%
Operating −513.3%
Net −541.6%
FCF −270.9%
Q1 '26
Gross 65.7%
Operating −508.9%
Net −515.8%
FCF −377.0%
Q2 '26
Gross 66.0%
Operating −260.7%
Net −274.6%
FCF −213.0%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY21
Net income −$5.4M
FY22
Net income −$5.5M
FY24
Net income —
FY25
Net income −$17.6M
Q1 '22
Net income −$1.0M
Q2 '22
Net income −$1.6M
Q4 '22
Net income −$0.9M
Q1 '24
Net income $4.8M
Q2 '24
Net income −$4.3M
Q4 '24
Net income −$2.1M
Q1 '25
Net income −$2.8M
Q2 '25
Net income −$4.8M
Q3 '25
Net income −$5.8M
Q4 '25
Net income −$4.8M
Q1 '26
Net income −$4.3M
Q2 '26
Net income −$3.0M
FY21
Diluted EPS —
FY22
Diluted EPS −$0.13
FY24
Diluted EPS —
FY25
Diluted EPS −$0.23
Q1 '22
Diluted EPS —
Q2 '22
Diluted EPS −$0.04
Q4 '22
Diluted EPS −$0.02
Q1 '24
Diluted EPS $0.11
Q2 '24
Diluted EPS −$0.10
Q4 '24
Diluted EPS −$0.05
Q1 '25
Diluted EPS −$0.06
Q2 '25
Diluted EPS −$2.37
Q3 '25
Diluted EPS −$0.07
Q4 '25
Diluted EPS $2.27
Q1 '26
Diluted EPS −$0.03
Q2 '26
Diluted EPS −$0.57
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY21
Return on capital −462.3%
Return on equity —
Return on assets −78.1%
FY22
Return on capital −20.5%
Return on equity −139.3%
Return on assets −39.0%
FY24
Return on capital —
Return on equity —
Return on assets —
FY25
Return on capital —
Return on equity −269.6%
Return on assets −104.4%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was −$11.3M in fiscal 2025, −250.2% of revenue. Cash from operations minus capital spending.
FY21
Free cash flow —
FY22
Free cash flow —
FY24
Free cash flow —
FY25
Free cash flow −$11.3M
Q1 '22
Free cash flow —
Q2 '22
Free cash flow —
Q4 '22
Free cash flow —
Q1 '24
Free cash flow —
Q2 '24
Free cash flow —
Q4 '24
Free cash flow —
Q1 '25
Free cash flow −$2.3M
Q2 '25
Free cash flow −$2.3M
Q3 '25
Free cash flow −$4.3M
Q4 '25
Free cash flow −$2.4M
Q1 '26
Free cash flow −$3.2M
Q2 '26
Free cash flow −$2.4M
FY21
Cash from operations −$5.4M
Capital spending —
FY22
Cash from operations −$5.0M
Capital spending —
FY24
Cash from operations —
Capital spending —
FY25
Cash from operations −$11.3M
Capital spending $0.0M
Cash from operations
Capital spending
Q1 '22
Cash from operations —
Capital spending —
Q2 '22
Cash from operations —
Capital spending —
Q4 '22
Cash from operations −$1.6M
Capital spending —
Q1 '24
Cash from operations —
Capital spending —
Q2 '24
Cash from operations —
Capital spending —
Q4 '24
Cash from operations −$1.5M
Capital spending —
Q1 '25
Cash from operations −$2.3M
Capital spending $0.0M
Q2 '25
Cash from operations −$2.3M
Capital spending $0.0M
Q3 '25
Cash from operations −$4.2M
Capital spending $0.0M
Q4 '25
Cash from operations −$2.4M
Capital spending $0.0M
Q1 '26
Cash from operations −$3.1M
Capital spending $0.0M
Q2 '26
Cash from operations −$2.4M
Capital spending $0.0M
Cash from operations
Capital spending
Dividends, buybacks and share count
reAlpha Tech Corp. returned — to shareholders in fiscal 2025. The diluted share count rose 0.0%.
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
FY21
Diluted shares —
FY22
Diluted shares 0.04B
FY24
Diluted shares —
FY25
Diluted shares 0.08B
Balance sheet
Cash, debt and the ratios that show how comfortably reAlpha Tech Corp. can carry it.
FY21
Cash $2.1M
Debt $8.2M
FY22
Cash $1.3M
Debt $7.1M
FY24
Cash $3.1M
Debt $0.8M
FY25
Cash $7.8M
Debt —
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY24 | FY25 |
|---|---|---|---|---|
| Cash and short-term investments | $2.1M | $1.3M | $3.1M | $7.8M |
| Debt incl. finance leases | $8.2M | $7.1M | $0.8M | — |
| Debt / equity | — | 0.5x | 0.5x | — |
| Interest coverage | −27.2x | −29.1x | — | −19.6x |
| Current ratio | 0.2x | 0.6x | 1.0x | 2.7x |
| Quick ratio | 0.2x | 0.6x | 1.0x | 2.7x |
| Total assets | $6.9M | $21.1M | $12.0M | $21.7M |
| Total liabilities | $12.2M | $7.9M | $10.4M | $9.2M |
| Shareholders' equity | −$5.3M | $13.2M | $1.6M | $11.5M |
| Net debt (− = net cash) | $6.2M | $5.8M | −$2.4M | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY21 | FY22 | FY25 |
|---|---|---|---|
| Net income is positive | ✕ | ✕ | ✕ |
| Cash from operations is positive | ✕ | ✕ | ✕ |
| Return on assets rose | — | ✓ | — |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | ✓ | — |
| Current ratio rose | — | ✓ | ✓ |
| Share count didn't rise | — | — | — |
| Gross margin rose | — | ✕ | — |
| Revenue rose relative to assets | — | ✕ | — |
| F-score | — / 3 | 4 / 8 | — / 4 |
| Accruals ratio | −0.0% | −3.5% | −37.6% |
| Altman Z'' | −17.17 | −2.47 | −10.19 |
4 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY21 | FY22 | FY24 | FY25 |
|---|---|---|---|---|
| Income statement | ||||
| Revenue | $0.3M | $0.4M | — | $4.5M |
| Gross profit | $0.1M | $0.1M | — | $2.5M |
| Operating income | −$4.8M | −$4.9M | — | −$16.0M |
| Interest expense | $0.2M | $0.2M | — | $0.8M |
| Pretax income | −$5.4M | −$5.5M | — | −$17.6M |
| Net income | −$5.4M | −$5.5M | — | −$17.6M |
| Net income to common | — | — | — | −$17.7M |
| Diluted EPS | — | −$0.13 | — | −$0.23 |
| Diluted shares | — | 0.04B | — | 0.08B |
| Cash flow | ||||
| Cash from operations | −$5.4M | −$5.0M | — | −$11.3M |
| Capital expenditure | — | — | — | $0.0M |
| Free cash flow | — | — | — | −$11.3M |
| Depreciation and amortization | $0.2M | $0.2M | — | $0.5M |
| Stock-based compensation | — | — | — | $0.9M |
| Acquisitions | — | $0.0M | — | $1.0M |
| Balance sheet | ||||
| Cash and short-term investments | $2.1M | $1.3M | $3.1M | $7.8M |
| Total debt | $8.2M | $7.1M | $0.8M | — |
| Current assets | $2.4M | $4.7M | $4.0M | $9.8M |
| Current liabilities | $12.2M | $7.7M | $4.1M | $3.6M |
| Property and equipment, net | $3.8M | $2.2M | $0.1M | $0.1M |
| Goodwill | — | $5.1M | $4.2M | $7.5M |
| Intangible assets | — | — | $3.3M | $4.3M |
| Total assets | $6.9M | $21.1M | $12.0M | $21.7M |
| Total liabilities | $12.2M | $7.9M | $10.4M | $9.2M |
| Preferred stock | — | — | $0.0M | — |
| Shareholders' equity | −$5.3M | $13.2M | $1.6M | $11.5M |
| Margins | ||||
| Gross margin | 45.3% | 30.1% | — | 54.3% |
| Operating margin | −1,581.2% | −1,176.3% | — | −354.3% |
| EBITDA margin | −1,531.6% | −1,138.7% | — | −342.2% |
| Net margin | −1,761.4% | −1,300.2% | — | −389.4% |
| FCF margin | — | — | — | −250.2% |
| Returns | ||||
| Return on capital | −462.3% | −20.5% | — | — |
| Return on capital employed | 90.8% | −36.8% | — | −88.5% |
| Return on equity | — | −139.3% | — | −269.6% |
| Return on assets | −78.1% | −39.0% | — | −104.4% |
| Return on tangible equity | — | −67.9% | — | — |
| Growth | ||||
| Revenue growth | — | 37.3% | — | — |
| Financial health | ||||
| Debt / equity | — | 0.5x | 0.5x | — |
| Interest coverage | −27.2x | −29.1x | — | −19.6x |
| Current ratio | 0.2x | 0.6x | 1.0x | 2.7x |
| Quick ratio | 0.2x | 0.6x | 1.0x | 2.7x |
| Capital allocation | ||||
| Capex / revenue | — | — | — | 0.9% |
| Stock comp / revenue | — | — | — | 19.0% |
| Quality scores | ||||
| Piotroski F-score | — | 4.0 | — | — |
| Altman Z'' | −17.2 | −2.5 | — | −10.2 |
| Accruals ratio | −0.0% | −3.5% | — | −37.6% |
Source: SEC EDGAR XBRL filings (CIK 0001859199). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.