Realpha Tech Corp. is a US-listed company in the real estate services industry. Its financial year ends in December.
Loading chart…
Third-party market data · may be delayed
Under review: every model's value for Realpha Tech Corp. is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.
Under review: data-quality checks not passed. We'll show the comparison once resolved.
Realpha Tech Corp. valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Realpha Tech has little or no product revenue yet; it used $12m of cash in the twelve months to June 2026. The diluted share count is up 33.3% on a year earlier, which dilutes existing holders. It passes 1 of our 3 financial-health checks.
Our model value for Realpha Tech is under review, so past values are not shown until it is resolved.
Source: 10-Q filed August 14, 2026 on SEC EDGAR · Financials · Valuation
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Realpha Tech Corp.'s trailing-twelve-month revenue grew 41.0% year on year, with a free-cash-flow margin of -284.6%.
Current signal Revenue growth decelerating: TTM revenue growth slowed to 41.0% (-98.2pp vs the prior quarter), the 2nd consecutive quarterly slowdown.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Loading chart…
Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
| At fiscal year end | 2024 | 2025 |
|---|---|---|
| Share price | $72.25 | $10.43 |
| Market value | $3.2bn | $796m |
| + Net debt (− = net cash) | $2m | −$4m |
| Enterprise value | $3.2bn | $792m |
| Multiples | ||
| Price / sales | n/m | 176.1x |
| Price / earnings | — | — |
| Price / free cash flow | — | — |
| EV / EBITDA | — | — |
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
No analyst estimates are published for Realpha Tech Corp.: too few analysts cover it.
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Mar 2026 | −$1.00 | −$0.82 | +17.5% |
| Dec 2025 | −$0.88 | −$0.25 | +71.4% |
| Sept 2025 | −$1.00 | −$0.83 | +16.5% |
| Jun 2025 | −$1.00 | −$1.94 | −93.5% |
Adjusted EPS as companies report it, against the average analyst estimate.
| Calendar year | 2024 | 2025 | 2026 to date |
|---|---|---|---|
| Return | |||
| AIRE | +45% | −86% | −94% |
| Industry peers (median) | +8% | −6% | −31% |
| S&P 500 | +25% | +18% | +11% |
| Months that ended higher | |||
| AIRE | 33% | 25% | 9% |
| S&P 500 | 75% | 75% | 46% |
| Largest fall from a high during the year | |||
| AIRE | −70% | −95% | −95% |
| S&P 500 | −8% | −19% | −9% |
Worst fall since October 23, 2023: 100% from October 23, 2023 to November 2, 2026. Getting back needed a 1521869% gain, and the shares have not yet recovered.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| August 14, 2026 | −2.6% | −0.7% | +4.6% | +1.3% |
| April 28, 2026 | −40.3% | −0.5% | −56.9% | −63.3% |
| March 12, 2026 | +3.7% | −2.1% | +4.0% | −10.3% |
| February 11, 2026 | −11.2% | −1.6% | −10.9% | −10.6% |
| November 12, 2025 | −11.2% | −1.6% | −19.2% | −11.5% |
| August 14, 2025 | +6.1% | −0.2% | −9.2% | +260.3% |
| May 16, 2025 | −21.2% | +0.7% | −26.9% | −44.1% |
| April 2, 2025 | −2.7% | −4.3% | −43.7% | −41.6% |
| February 21, 2025 | −11.7% | −2.2% | −23.4% | −32.4% |
| November 12, 2024 | +1.0% | −0.3% | −2.0% | +20.0% |
| August 15, 2024 | +7.8% | +1.9% | +14.8% | +22.6% |
| April 19, 2024 | −15.9% | 0.0% | +52.4% | +28.3% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY24 Q4 | $948.4K |
| FY25 Q1 | $1.9M |
| FY25 Q2 | $3M |
| FY25 Q3 | $4.1M |
| FY25 Q4 | $4.5M |
| FY26 Q1 | $4.4M |
| FY26 Q2 | $4.3M |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY24 Q4 | -751.1% |
| FY25 Q1 | -444.5% |
| FY25 Q2 | -365.3% |
| FY25 Q3 | -348.0% |
| FY25 Q4 | -355.3% |
| FY26 Q1 | -404.0% |
| FY26 Q2 | -389.6% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY25 Q2 | -267.2% |
| FY25 Q3 | -268.0% |
| FY25 Q4 | -250.2% |
| FY26 Q1 | -275.1% |
| FY26 Q2 | -284.6% |
| Fiscal year | 2022 Apr 2022 | 2023 Apr 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Jun 2026 |
|---|---|---|---|---|---|
| Income | |||||
| Revenue | 0 | 0 | 1 | 5 | 4 |
| Gross profit | 0 | 0 | 1 | 2 | 3 |
| EBITDA | −5 | −5 | −6 | −15 | −16 |
| Operating income | −5 | −5 | −7 | −16 | −17 |
| Net income | −5 | −5 | −26 | −18 | −18 |
| Diluted EPS | — | −$0.13 | −$0.58 | −$0.23 | — |
| Growth (year on year) | |||||
| Revenue | — | +37.3% | +126.1% | +376.4% | +41.0% |
| Margins | |||||
| Gross margin | 45.3% | 30.1% | 68.1% | 54.3% | 60.5% |
| EBITDA margin | <−999% | <−999% | −678.6% | −342.2% | −375.2% |
| Operating margin | <−999% | <−999% | −727.8% | −354.3% | −389.6% |
| Net margin | <−999% | <−999% | <−999% | −389.4% | −419.9% |
| Free-cash-flow margin | — | — | −638.4% | −250.2% | −284.6% |
| Cash flow | |||||
| Cash from operations | −5 | −5 | −6 | −11 | −12 |
| Capital spending | — | — | 0 | 0 | 0 |
| Free cash flow | — | — | −6 | −11 | −12 |
| Stock-based pay | — | — | 0 | 1 | 1 |
| Free cash flow after stock pay | — | — | −6 | −12 | −14 |
| Balance sheet | |||||
| Cash | — | — | 3 | 8 | 2 |
| Total debt | 8 | 7 | 5 | 4 | — |
| Net debt (negative = net cash) | — | — | 2 | −4 | −2 |
| Diluted shares | — | 40m | 45m | 76m | — |
| Quarter | 2024 Q3 Sept 2024 | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Gross profit | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| EBITDA | −2 | −3 | −2 | −4 | −5 | −4 | −4 | −3 |
| Operating income | −2 | −3 | −2 | −4 | −5 | −5 | −4 | −3 |
| Net income | −2 | −21 | −3 | −5 | −6 | −5 | −4 | −3 |
| Diluted EPS | −$0.05 | −$0.47 | −$0.06 | −$2.37 | −$1.75 | −$0.01 | −$0.75 | −$0.57 |
| Growth (year on year) | ||||||||
| Revenue | +913.9% | — | +>999% | +>999% | +326.0% | +70.1% | −9.1% | −11.3% |
| Margins | ||||||||
| Gross margin | 66.6% | 69.2% | 56.0% | 49.6% | 51.9% | 62.7% | 65.7% | 66.0% |
| EBITDA margin | −449.9% | −535.6% | −242.3% | −316.0% | −333.3% | −496.5% | −489.3% | −245.4% |
| Operating margin | −479.1% | −566.5% | −261.7% | −326.5% | −342.4% | −513.3% | −509.0% | −260.7% |
| Net margin | −618.6% | <−999% | −307.9% | −384.8% | −400.1% | −541.6% | −515.8% | −274.6% |
| Free-cash-flow margin | −372.2% | −425.5% | −246.4% | −187.5% | −294.1% | −270.9% | −377.0% | −213.0% |
| Cash flow | ||||||||
| Cash from operations | −1 | −2 | −2 | −2 | −4 | −2 | −3 | −2 |
| Capital spending | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | −1 | −2 | −2 | −2 | −4 | −2 | −3 | −2 |
| Stock-based pay | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow after stock pay | −1 | −2 | −2 | −3 | −5 | −3 | −4 | −3 |
| Last 12 months unless stated | AIRE | UK | OMH | MKZR | DUO | SRTM | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $4m | $4m | $9m | $20m | $49m | $62m | $1.6bn |
| Revenue growth, last 12 months | 41.0% | −66.1% | 15.0% | −9.3% | 4.8% | −6.4% | 8.1% |
| Revenue growth, 3-year average | — | — | — | 9.8% | — | 34.4% | 13.0% |
| Revenue growth, latest quarter | −11.3% | — | — | 13.1% | — | −25.6% | 12.3% |
| Gross margin | 60.5% | −2.9% | 31.9% | — | 17.9% | 11.7% | 19.9% |
| Operating margin | −389.6% | −155.5% | −75.7% | −78.0% | −37.6% | −27.9% | 0.4% |
| Operating margin, 3-year average | — | — | — | −82.5% | −46.5% | −24.7% | −2.7% |
| Net margin | −419.9% | −150.3% | −75.2% | −95.5% | −23.9% | −46.4% | 1.8% |
| Cash from operations / revenue | −282.8% | −53.0% | −34.5% | −16.5% | −17.0% | −8.5% | 1.5% |
| Free-cash-flow margin | −284.6% | −80.8% | −35.3% | −62.2% | −23.6% | −9.3% | 1.2% |
| Free-cash-flow margin, 3-year average | — | — | — | −57.0% | −23.0% | — | 2.9% |
| Stock pay / revenue | 30.3% | 57.5% | 0.3% | 0.0% | 0.0% | 4.4% | 1.0% |
| Change in share count | 33.3% | 130.2% | 495.8% | 36.6% | 859.5% | — | 1.8% |
| Line of business | Revenue | Share | YoY |
|---|---|---|---|
| Homebuying Services | $3.5M | 77.5% | ▲ 472.9% |
| Technology Services | $1M | 22.5% | ▲ 201.8% |
From Realpha Tech Corp.'s 10-K filed March 12, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Vanguard Capital Management LLC | $104,589 | 54K | 20.5% | New |
| Jane Street Group, LLC | $83,378 | 43K | 16.3% | New |
| Geode Capital Management, LLC | $81,655 | 42K | 16.0% | New |
| Blackrock, Inc. | $78,470 | 41K | 15.3% | New |
| Xtx Topco Ltd | $58,361 | 30K | 11.4% | New |
| Vanguard Fiduciary Trust Co | $43,977 | 23K | 8.6% | New |
| Citadel Advisors LLC | $42,865 | 22K | 8.4% | New |
| UBS Group AG | $13,965 | 7K | 2.7% | New |
| Tower Research Capital LLC (TRC) | $2,955 | 2K | 0.6% | New |
| Northwestern Mutual Wealth Management Co | $386 | 0K | 0.1% | New |
| Pinnacle Wealth Planning Services, Inc. | $386 | 0K | 0.1% | New |
| Morgan Stanley | $181 | 0K | 0.0% | New |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Realpha Tech Corp.'s complete shareholder register. Values are as reported by the filers .
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Devanur Giri Executive Chairman | August 11, 2026 | Sell | 1,999 | $1.54 | $3,078 |
| Logozzo Michael J. CEO and Director | August 11, 2026 | Sell | 1,639 | $1.50 | $2,458 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
New research on the companies we cover arrives in the weekly email. Free, one email a week.
