Pacaso Reserves Ticker "PCSO"
Nasdaq Symbol Reservation Marks Strategic Progress Toward Broader Investor Participation and Market Readiness
SAN FRANCISCO, May 21, 2025 /PRNewswire/ -- Pacaso, the tech-enabled marketplace for co-owned luxury vacation homes, announced today it has reserved the ticker symbol "PCSO" on the Nasdaq Stock Market. This milestone underscores the company's expanding investor accessibility and continued operational maturity as it evaluates future capital market opportunities.
The reservation of "PCSO" marks a strategic step in Pacaso's inclusive capital strategy. Since its founding in 2020, the company has raised over $200 million across three equity rounds. Backers include top-tier institutional investors such as SoftBank, Maveron, Greycroft and high-profile individuals like Howard Schultz. In its most recent and ongoing round, Pacaso has opened the investment opportunity to both accredited and non-accredited investors through an SEC-qualified Regulation A+ offering, an intentional move aligned with its mission to make wealth-building more accessible.
Founded by Zillow alumni Austin Allison and Spencer Rascoff, Pacaso is modernizing how people buy, own, and enjoy second homes. The company enables buyers to co-own luxury vacation properties in top destinations while Pacaso handles all management, scheduling, and resale. To date, its platform has facilitated more than $1 billion in transactions and generated over $100 million in gross profit.
"Reserving 'PCSO' reflects more than symbolic progress – it signals our commitment to building a business that belongs to a broader set of stakeholders," said Austin Allison, Co-Founder and CEO of Pacaso. "From elite institutions to everyday investors, we've built momentum by aligning access with aspiration, and we believe the future of real estate should invite more people in, not shut them out."
Pacaso's strong 2024 performance reflects how its inclusive capital strategy matches disciplined execution and sustained demand. Last year, the company facilitated $164.5 million in gross real estate transacted and associated service fees (excluding whole-home sales) and generated $23.6 million in adjusted gross profit – an 18% increase year-over-year. At the same time, Pacaso reduced its adjusted EBITDA loss by 24%, demonstrating tighter financial discipline and a clear path toward profitability.
The company operates in over 40 premier destinations across four countries, with demand consistently outpacing supply.
To learn more or participate in Pacaso's current growth round, visit www.pacaso.com/invest.
Important Note: Reservation of a ticker symbol does not guarantee a future listing on the Nasdaq Stock Market, nor does it imply that Pacaso currently meets any of Nasdaq's listing criteria.
About Pacaso
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.
(1) We calculate Adjusted Gross Profit as gross profit under GAAP adjusted for amortization of developed technology, inventory valuation adjustment in the current period, inventory valuation adjustment in prior periods, impairments and write-offs and share-based compensation. Inventory valuation adjustment in the current period is calculated by adding back the inventory valuation adjustments recorded during the period on homes that remain in inventory at period end. Inventory valuation adjustment in prior periods is calculated by subtracting the inventory valuation adjustments recorded in prior periods on homes sold in the current period. Additionally, we calculate Adjusted Gross Profit Excluding Impact of Whole Homes, which is an indication of the performance of our core business offering of selling and managing co-owned real estate and is a useful measure of the volume of transactions that flow through our platform in a given period. We view this metric as an important measure of business performance, as it captures gross profit performance related to units transacted in a given period and provides comparability across reporting periods.
(2) We define Gross real estate transacted and associated service fees, excluding whole home sales, as the total dollar value, less any concessions, of co-ownership transacted during the period which includes co-ownership real estate sales, gain from real estate investments presented gross, real estate services, and the applicable margin on such transactions. We view this metric as an indication of the performance of our core business offering of selling co-owned real estate and is a useful measure of the volume of transactions that flow through our platform in a given period, which ultimately impacts gross profit.
(3) We define Adjusted EBITDA as net income or loss adjusted for interest expense, income tax expense, depreciation and amortization, share-based compensation expense, non-recurring expense, unrealized gain or loss on foreign currency, non-recurring impairment and write-offs, derivative expense and restructuring expense. Adjusted EBITDA is also adjusted to align the timing of inventory valuation adjustments recorded under GAAP to the period in which the related revenue or net gain on real estate investment is recorded in order to improve the comparability of the measure to our non-GAAP financial measure of adjusted gross profit above. We believe Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our results of operations, as well as providing a useful measure for period-to-period comparisons of our business performance adjusted for non-recurring or non-cash items. Moreover, we have included Adjusted EBITDA because it is a key measurement used by our management internally to make operating decisions, including those related to analyzing operating expenses, evaluating performance, and performing strategic planning and annual budgeting.
(4) Real estate inventory and real estate investments assets combined represent the total gross asset value, net of valuation adjustments and impairments, excluding the impact of associated debt, as real estate investments are presented net of associated debt on the GAAP Balance Sheet.
Certain statements in this release may constitute "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding Pacaso's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "strive," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Readers are cautioned not to put undue reliance on forward-looking statements, and Pacaso assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Pacaso does not give any assurance that Pacaso will achieve its expectations.
In addition to financial results presented in accordance with generally accepted accounting principles, this press release may contain financial measures that do not conform to U.S. GAAP if we believe they are useful to investors or if we believe they will help investors to better understand our performance or business trends. Reconciliations of these non-GAAP financial measures to the nearest comparable GAAP measures are included in our Offering Statement.
AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT IS AVAILABLE HERE.
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SOURCE Pacaso