10:39 AM EDT, 10/23/2024 (MT Newswires) -- La Rosa Holdings ( LRHC ) shares more than doubled in recent Wednesday trading after the company reported preliminary nine-month revenue of roughly $45 million, increasing about 120% year-over-year.

The company said it expects to achieve profitability next year as well as an annualized revenue run rate of $100 million by the end of 2024.

La Rosa attributed its nine-month revenue growth to the acquisition of real estate brokerage franchisees and an increase in agent count.

Price: 1.33, Change: +0.84, Percent Change: +170.66