Greetings, ladies and gentlemen. Welcome to the LMP Automotive Holdings Incorporated Second Quarter 2021 Financial Results Conference Call. All participants are in a listen only mode and the conference is being recorded. After a presentation by management, there will be an opportunity to ask questions. Before we begin, I'd like to remind everyone that this call may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
All statements pertaining to future financial and or operating results, along with other statements about the future expectations, beliefs, Goals, plans or prospects expressed by management constitute forward looking statements. Any statements that are not historical facts should also be considered forward looking statements and of course, forward looking statements involve risks and uncertainties. I would now like to turn the call over to Mr. Sam Toffik, LMP Automotive Holdings' Chairman and Chief Executive Officer. Mr.
Toppik, please go ahead.
Thank you, operator, and good afternoon, everybody, Thank you for joining our call today. Today's call participants, along with myself, will be Richard Aldahan, our Chief Operating Officer along with Robert Lelaflores, our Chief Financial Officer. I'm pleased to report another record quarter. 2nd quarter revenue Adjusted EBITDA was $140,000,000 $11,100,000 respectively, which translates to $1.10 per share. On an annualized basis in the second half of this year, we're expecting revenue to be approximately $610,000,000 and adjusted EBITDA of $44,000,000 or $4.38 a share.
We ended the Q2 with approximately $24,300,000 in cash and $46,900,000 in adjusted shareholder The company is generating significant cash flows. And as of August 10, cash including escrow deposits for acquisitions totaled $27,600,000 We expect to begin closing some of our contracted acquisitions Previously announced beginning September on a rolling basis, and our goal is to have substantially all of them closed by November of this year. Upon closing of all the acquisitions we previously announced, LMP's total franchise dealership and retail and fleet operation location count would be 2821, respectively, with expected consolidated annualized revenue, adjusted EBITDA and adjusted EBITDA per share run rate to be approximately $1,400,000,000 $88,000,000 $8.04 respectively. These acquisitions will strategically add density in key geographic markets and increase our regional footprint. Our pipeline of prospective dealership acquisitions is more attractive than we've ever seen, and we believe we're on track to achieve our goal 80 to 100 locations within our network by the end.
Our layer of mergers and acquisitions and partnerships, We project these additions to our network combined with our current operations and contracted acquisitions on an annualized basis will propel the company to a total of $6,500,000,000 to $7,800,000,000 in revenue, $317,000,000 to $376,000,000 in adjusted EBITDA or $16.84 to $19.04 a share in adjusted EBITDA. Now I'm going to pass the call over to Richard Alevihan, our Chief Operating Officer.
Thank you, Sam, and thanks to everyone for joining the call. Before I get into the details, I would like to thank our partners for their strong performance this quarter year to date. Additionally, I want to thank every member of our corporate team for their dedication and for their contribution to our organization. So far this year, we continue to see demand outpacing supply for new vehicles. We expect this to continue into 2022.
We believe this is due to the pent up demand from a large percentage of consumers who had deferred their vehicle purchases in 2020. In addition, preferences for transportation due to the current suburban housing migration and due to the component supply shortages within the manufacturing process. I am happy to report that we continue to rank in the upper 50 percentile as compared to our public industry peers. Some of these notable metrics include the following: our revenue growth percentage as compared to previous year's comparable quarter. Our gross profit margins of 18.9%, Adjusted EBITDA margin and adjusted net Income as a percentage of revenue of 6.2% and gross and net leverages as compared to adjusted EBITDA.
We ended the 2nd quarter with our corporate debt, excluding floor plan, of about $97,000,000 Approximately $49,000,000 was issued for the real estate we acquired and the balance of approximately $48,000,000 for our dealerships that we have purchased. We believe this ranks LMP amongst the highest returns in invested capital amongst our peers. We are witnessing the results of our partnership acquisition model that we feel unleashes the real potential of our partners And yes, the best is yet to come. Thanks again for joining the call. I will now open the call for questions and answers.
Operator?
Thank you. Ladies and gentlemen, we will now be conducting a question and answer session. One moment please, we'll be poll for questions. Our first question comes from the line of Mitchell Berger, a Private Investor. Please proceed with your question.
Hey, guys. Excellent quarter that you had. I'm just wondering, obviously, you guys noticed the stock This is not really valuing the company
at the right levels.
Are there things you guys are going to be doing to get us to be fairly valued at some point? Hi, Mitchell. This is Sam Tothic. We continue to be focused on executing the business plan and growing our Income and as far as stock price typically from what I've seen historically In the stock market in general, stock follows earnings. We are focused on execution of the business behind the company.
Thank you.
Thank you. It appears there are no further questions at this time. Do you have any closing comments?
Thank you, operator, and thank you, everybody, for joining today's call. We'll see you on the next call.
Thank you. Ladies and gentlemen, this concludes today's teleconference. You may disconnect your lines at this time. Thank you for your participation.