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La Rosa Holdings (NASDAQ: LRHC) announced Thursday that its Board of Directors has a stock buyback program to repurchase up to $500,000 of its outstanding shares of common stock.
The buyback will be on the open market by all applicable securities laws and regulations.
The company’s decision to repurchase its shares and the timing of such repurchases will depend on various factors, including ongoing assessments of the company’s capital needs, market conditions, the price of the company’s common stock, and other corporate considerations, as determined by management.
Also Read: La Rosa Snaps La Rosa Realty Beaches Franchisee
CEO Joe La Rosa said the past few months have been transformative, highlighted by a 119% increase in revenue to $69.4 million for fiscal 2024 and a 55% increase to $17.7 million in the fourth quarter alone.
The company also expanded its agent network to over 2,700, positioning it stronger than ever before. It looks forward to sharing updates on several key initiatives.
As of December 31, 2024, the company held cash and equivalents (including restricted cash) of $3.58 million.
Price Action: LRHC stock is up 0.33% to $0.122 premarket at last check Thursday.
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This article EXCLUSIVE: La Rosa Board Approves $500 Thousand Stock Buyback Plan originally appeared on Benzinga.com
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