SYLA Technologies reported a 13% revenue increase in the first half of 2024.

From Globe Newswire: 2024-09-27 09:07:00

SYLA Technologies Co., Ltd. reported its interim financial results, including a 13% revenue increase in the first half of 2024. The company entered into key alliances and announced a mid-term growth strategy. Operational highlights include the sale of 162 units and two buildings, a total revenue of $65.7 million, and real estate crowdfunding GMV exceeding $46.61 million.

Despite an increase in real estate sales, the company’s gross profit decreased to $12.1 million. Operating expenses decreased, and net loss for the first half of 2024 was $0.4 million, compared to a $1.6 million net income for the same period in 2023. The company reported having $14.8 million in cash and cash equivalents as of June 30, 2024.

SYLA Technologies Co., Ltd. operates Japan’s largest real estate crowdfunding platform, Rimawari-kun. The company focuses on democratizing real estate investment and aims to expand globally through technology. SYLA offers various services related to the investment condominium business. For more information, visit https://syla-tech.jp/en.



Read more at Globe Newswire:: SYLA Reports First-Half 2024 Financial and Operational