Pacaso, the tech-enabled real estate / property marketplace for co-owned luxury vacation homes, released its full-year 2024 financial results, “marking strong year-over-year growth in key performance metrics.”
Real estate marketplace Pacaso has reportedly posted $164.5M in 2024 transactions, while also “growing adjusted gross profit by 18%.”
Full Year 2024 financial highlights:
- Adjusted gross profit, excluding the impact of whole home sales, of $23.6 million, which represents 18% year-over-year growth.
- Gross real estate transacted and associated service fees, excluding whole home sales, of $164.5 million, resulting in 16% year-over-year growth
- Adjusted EBITDA of $(20.4) million down from $(26.8) million
- Total real estate inventory and real estate investment assets of $59.4 million, down from $85.2 million.
Austin Allison, Pacaso co-founder and CEO said:
“Pacaso’s 2024 performance reflects the growing demand for our co-ownership model and the strength of our product-market fit. As more families embrace smarter, more flexible ways to own a vacation home, we’ve continued to scale efficiently, deliver value to our owners, and strengthen the foundation for long-term growth.”
Alvaro Cortes, Pacaso’s Chief Financial Officer said:
“In 2024, we made meaningful progress toward profitability by executing a disciplined financial strategy and streamlining operations. Adjusted EBITDA loss improved by 24%, real estate investments and inventory were reduced by over 30%, and we decreased cash burn — clear indicators that our path to sustainable, profitable growth is well underway.”
The strong performance follows a series of strategic initiatives “focused on expanding Pacaso‘s home portfolio across desirable second-home markets, investing in product innovation, and enhancing operational efficiency.”
In late 2024, the company launched “a new growth round open to both accredited and non-accredited investors, aimed at accelerating growth and broadening access to luxury second home ownership.”
Co-founded by Austin Allison and Spencer Rascoff in 2020, Pacaso is a technology-enabled marketplace that “modernizes real estate co-ownership, enabling families to effortlessly own a luxury vacation home and travel with confidence.”
Pacaso curates private residences “in premier destinations across the U.S. and internationally, with exceptional amenities, luxury interiors and expert design.”
After purchase, Pacaso professionally “manages the home, provides white-glove scheduling and personalized service, and ensures seamless resale.”
