Exhibit 99.1

Q3 2025

Shareholder Letter

Letter to Shareholders: Q3 2025

Key quarterly metrics

Dear Shareholders:

The third quarter was about moving from building the foundation to putting the pieces in place for continued growth. We advanced execution, expanded into targeted markets, and simplified the customer experience through enhanced AI and tighter product integration across realty and mortgage. Our goal remains clear: make homeownership simpler, smarter, and more affordable by bringing the full journey onto one platform.

In the third quarter:

We are being deliberate about how we communicate our progress. My commitment to shareholders is to report what we have accomplished, where we are going, and how we will measure the progress. That means fewer announcements about ideas and more updates tied to execution. It also means clarity about the work still ahead: we will continue to invest in areas that drive growth, enhance customer experience, and improve unit economics, and we will pace expansion so that our foundation remains strong as we scale.

Clearing the Path for Growth

In the third quarter, we strengthened our balance sheet and simplified our capital structure to support long-term growth. We raised approximately $7.5 million through equity offerings, $10.0 million from warrant exercises, and $0.9 million through our at-the-market program. These proceeds allowed us to fully repay our secured promissory note with Streeterville Capital, eliminating all parent-level debt. With a stronger balance sheet and improved liquidity, we’re positioned to invest in high-impact initiatives that advance our integrated homebuying platform.

Operationally, we continued to focus on scalability and efficiency. Teams streamlined workflows across realty and mortgage, reducing overlap in systems and improving visibility into data and key drivers of performance. These actions help ensure that as volumes increase, we maintain quality, consistency, and speed across the platform.

We also maintained focus on core public company fundamentals, including governance, disclosure discipline, and consistent communication with investors. In September, we regained compliance with Nasdaq’s minimum market value requirement, an important milestone, but one part of a larger effort to build trust in how we operate as a public company. Our next priority is addressing the minimum bid price requirement through steady execution and transparent communication. Together, these steps reinforce our financial discipline and strengthen the foundation for the next phase of growth.

Executing Our Platform Strategy at Scale

This quarter, we continued to build the business by expanding into new states, improving our systems, and streamlining the customer journey. We expanded our real estate brokerage presence into Georgia through our REALTOR® affiliate and extended our mortgage footprint into Utah and Nevada, with local leadership and infrastructure in place to support growth. These steps reflect reAlpha’s disciplined approach to strategic service expansion, focused on operational consistency and integrating capabilities across realty and mortgage.

Present in 31 markets as of November 10, 2025

We also made meaningful progress in how technology supports our ability to scale. In mortgage operations, we upgraded the internal AI Loan Officer Assistant to improve document recognition and validation, reducing manual work on repeatable tasks. These upgrades allow our teams to process more applications efficiently and maintain the high level of quality that customers expect.

Behind the scenes, these AI integrations improve data flow, reduce manual handoffs, and give teams clearer visibility across customer touchpoints. This work strengthens decision accuracy and creates a smoother, more connected experience from search through closing.

On the consumer side, we expanded Claire, our AI homebuying concierge, to better support buyers through the early stages of their journey. Claire helps users identify the best next steps, connect with reAlpha’s real estate and mortgage partners, and onboard on our platform. Claire’s recommendations are informed by data and conversation context, creating a more cohesive guided experience for buyers.

We also strengthened the go-to-market spine that supports expansion. Brand, messaging, and customer interactions are now aligned across advertising, product, and automated communication channels, ensuring customers experience a cohesive, consistent journey at every touchpoint. By connecting these elements with our technology and incentive programs, we’re creating a unified experience that enhances engagement, reinforces our market position, and builds lasting value for homebuyers and the business.

One reAlpha: Uniting Vision, Culture, and Capability

This quarter, we aligned our organization around our refreshed vision: to reimagine the path to homeownership, powered by AI and designed for people. This vision defines how we innovate, operate, and communicate by connecting technology, data, and people under a single purpose.

To bring that vision to life, we unified our teams under “One reAlpha,” a structure that ensures every part of the organization moves with the same voice, behavior, and discipline.

As part of this evolution, in October 2025, we completed the full integration of Naamche into our product and technology organization. More than 30 AI engineers, software developers, UX designers, analysts, and creative professionals are now contributing within a single unified model. This integration goes beyond headcount, it brings specialized AI capabilities directly into our product development process, allowing teams to iterate faster, share learnings more efficiently, and deploy automation at greater scale.

Culturally, we’re moving forward with urgency, clarity, and accountability. The same alignment driving our product and organizational integration now also shapes how we operate day-to-day, through clear ownership, consistent operating rhythms, and accountability for results. This shared mindset keeps us connected to our purpose, accelerates learning, and ensures that as we scale, we continue to build with people - our customers, partners, and teammates - at the center of everything we do.

Looking Forward

As we enter the final quarter of 2025, our focus remains clear: execution, compliance, and readiness for the next homebuying season and phase of scale. We believe the progress we’ve made this year: strengthening our balance sheet, expanding into new markets, and integrating AI into our operations has positioned us for sustainable growth in 2026.

We are prioritizing three objectives as we move ahead.

Together, these priorities reflect our commitment to disciplined growth: maintaining financial strength, deepening platform integration, and scaling technology that empowers people and delivers lasting value for shareholders.

Lastly

To our employees, thank you for your focus, creativity, and discipline. You are the reason our vision becomes reality. To our partners, thank you for your trust and collaboration as we build something meaningful in a complex market. And to our shareholders, thank you for your patience and conviction. The foundation is in place. Now our focus is on consistent execution, disciplined growth, and delivering lasting value. I remain committed to transparency, accountability, and building a company that earns your confidence through consistent performance and measurable results.

Sincerely,

reAlpha Tech Corp. (NASDAQ: AIRE)

Use of Non-U.S. GAAP Financial Measures

This letter includes Adjusted EBITDA, a financial measure that is not presented in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and may be different from non-U.S. GAAP financial measures used by other companies. We reconcile our Adjusted EBITDA to our net income (loss) adjusted to exclude interest expense, depreciation and amortization, share based compensation, and other non-cash, non-operating, or non-recurring items that we believe are not indicative of our core business operations.

We use Adjusted EBITDA to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that these non-U.S. GAAP financial measures may be helpful to investors because it provides consistency and comparability with past financial performance. This non-U.S. GAAP financial measure is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with U.S. GAAP. A reconciliation of this non-U.S. GAAP financial measure to the most directly comparable U.S. GAAP measures can be found in the appendix to this presentation and in our public filings with the SEC.

About reAlpha Tech Corp.

reAlpha Tech Corp. (Nasdaq: AIRE) is an AI-powered real estate technology company that aims to transform the multi-trillion-dollar U.S. real estate services market. reAlpha is developing an end-to-end platform that streamlines real estate transactions through integrated brokerage, mortgage, and title services. With a strategic, acquisition-driven growth model and proprietary AI infrastructure, reAlpha is building a vertically integrated ecosystem designed to deliver a simpler, smarter, and more affordable path to homeownership. For more information, visit www.realpha.com.

Forward-looking statements

The information in this letter includes “forward-looking statements.” Any statements other than statements of historical fact contained herein, including statements by our Chief Executive Officer, Mike Logozzo or the expected future performance of reAlpha, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “could”, “might”, “plan”, “possible”, “project”, “strive”, “budget”, “forecast”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: reAlpha’s ability to pay contractual obligations; reAlpha’s liquidity, operating performance, cash flow and ability to secure adequate financing; reAlpha’s limited operating history and that reAlpha has not yet fully developed its AI-based technologies; whether reAlpha’s technology and products will be accepted and adopted by its customers and intended users; reAlpha’s ability to commercialize its developing AI-based technologies; reAlpha’s ability to integrate the business of its acquired companies into its existing business and the anticipated demand for such acquired companies’ services; reAlpha’s ability to successfully enter new geographic markets and to scale its operational capabilities to expand into additional geographic markets and nationally; the potential loss of key employees of reAlpha and of its subsidiaries; the outcome of certain outstanding legal proceedings or any legal proceedings that may be instituted against reAlpha; reAlpha’s ability to obtain, and maintain, the required licenses to operate in the U.S. states in which it, or its subsidiaries, operate in, or intend to operate in; reAlpha’s ability to successfully identify and acquire companies that are complementary to its business model; the inability to maintain and strengthen reAlpha’s brand and reputation; reAlpha’s ability to reduce its manual loan processing time and manual effort of its employees through the implementation of its Loan Officer Assistant and CRM platform across real estate and mortgage operations; reAlpha’s ability to improve data accuracy and boost engagement of its brand through its redesigned website and the integration of CRM platform across real estate and mortgage operations; reAlpha’s ability to enhance its operational efficiency, improve cross-functional coordination and support the reAlpha platform’s continued growth through the implementation of its new internal organizational structure; reAlpha’s ability to continue attracting loan officers and maintain its relationship with its REALTOR® affiliate to expand its operations nationally; any accidents or incidents involving cybersecurity breaches and incidents; the availability of rebates, which may be limited or restricted by state law; risks specific to AI-based technologies, including potential inaccuracies, bias, or regulatory restrictions; risks related to data privacy, including evolving laws and consumer expectations; the inability to accurately forecast demand for AI-based real estate-focused products; the inability to execute business objectives and growth strategies successfully or sustain reAlpha’s growth; the inability of reAlpha’s customers to pay for reAlpha’s services; reAlpha’s ability to obtain additional financing or access the capital markets on acceptable terms and conditions in the future; reAlpha’s ability to maintain compliance with Nasdaq listing rules; reAlpha’s ability to regain compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2); changes in applicable laws or regulations, including with respect to AI and AI technologies, and the impact of the regulatory environment and complexities with compliance related to such environment; and other risks and uncertainties indicated in reAlpha’s SEC filings. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Although reAlpha believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. reAlpha’s future results, level of activity, performance or achievements may differ materially from those contemplated, expressed or implied by the forward-looking statements, and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements. For more information about the factors that could cause such differences, please refer to reAlpha’s filings with the SEC. Readers are cautioned not to put undue reliance on forward-looking statements, and reAlpha does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Financial Statements

reAlpha Tech Corp. and Subsidiaries

Condensed Consolidated Balance Sheet

September 30, 2025 (Unaudited) and December 31, 2024

reAlpha Tech Corp. and Subsidiaries

Condensed Consolidated Statements of Operations and Comprehensive Loss

For the Three and Nine Months Ended September 30, 2025 and 2024 (unaudited)

reAlpha Tech Corp. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

For the Nine Months Ended September 30, 2025, and 2024 (unaudited)

Non-GAAP Financial Measures

To supplement our financial information presented in accordance with U.S. GAAP, we believe “Adjusted EBITDA,” a “non-U.S. GAAP financial measure,” as such term is defined under the rules of the SEC, is useful in evaluating our operating performance. We use Adjusted EBITDA to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that this non-U.S. GAAP financial measure may be helpful to investors because it provides consistency and comparability with past financial performance. However, this non-U.S. GAAP financial measure is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with U.S. GAAP. In addition, other companies, including companies in our industry, may calculate a similarly titled non-U.S. GAAP measure differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of this non-U.S. GAAP financial measure as a tool for comparison. A reconciliation is provided below for our non-U.S. GAAP financial measure to the most directly comparable financial measure stated in accordance with U.S. GAAP. Investors are encouraged to review the related U.S. GAAP financial measure and the reconciliation of this non-U.S. GAAP financial measure to its most directly comparable U.S. GAAP financial measure, and not to rely on any single financial measure to evaluate our business.  

We use Adjusted EBITDA, a non-U.S. GAAP financial measure, to evaluate our operating performance and facilitate comparisons across periods and with peer companies. We reconcile our Adjusted EBITDA to our net income (loss) adjusted to exclude interest expense, depreciation and amortization, changes in fair value of contingent consideration and preferred stock, share-based compensation, and other non-cash, non-operating, or non-recurring items that we believe are not indicative of our core business operations. We believe this measure provides useful insight into our ongoing performance; however, it should not be considered a substitute for, or superior to, net income or other financial information prepared in accordance with U.S. GAAP.

The following table provides a reconciliation of net income to Adjusted EBITDA for the periods presented below: