Greetings, ladies and gentlemen. Welcome to the LMP Automotive Holdings, Inc. 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. Of course, forward-looking statements involve risks and uncertainties.
I would now like to turn the call over to Mr. Sam Tawfik, LMP Automotive Holdings Chairman and Chief Executive Officer. Mr. Tawfik, please go ahead.
Thank you, operator, and good afternoon, everybody, and 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 Bellafiore, our Chief Financial Officer. I'm pleased to report another record quarter. Second quarter revenue, adjusted EBITDA, was $140 million and $11.1 million 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 million and adjusted EBITDA of $44 million, or $4.38 a share. We ended the second quarter with approximately $24.3 million in cash and $46.9 million in adjusted shareholder equity. The company's generating significant cash flows, and as of August 10th, cash, including escrow deposits for acquisitions, totaled $27.6 million.
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 28 and 21 respectively, with expected consolidated annualized revenue, adjusted EBITDA, and adjusted EBITDA per share run rate to be approximately $1.4 billion, $88 million, and $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 of 80 to 100 locations within our network by the end.
Our rate 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 $6.5 billion-$7.8 billion in revenue, $317 million-$376 million in adjusted EBITDA or $16.84-$19.04 a share in adjusted EBITDA. I'm going to pass the call over to Richard Aldahan, our Chief Operating Officer. You're mute.
Thank you, Sam, and thanks, Anna, for joining our call. Before I get into the details, I would like to thank our partners for their strong performance this quarter and year-to-date. Additionally, I want to thank every member of our corporate team for their dedication and for their contribution to our organization. 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 as a %, adjusted net income as a percentage of revenue of 6.2%, and gross and net leverages as compared to adjusted EBITDA. We ended the second quarter with our corporate debt, excluding floor plan, of about $97 million. Approximately $49 million was used for the real estate we acquired, and the balance of approximately $48 million for our dealerships that we have purchased. We believe this ranks LMP among the highest return on 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 their dealerships. 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. If you'd like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two if you'd like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up the handset before pressing the star keys. One moment please, while we poll for questions. Our first question comes from the line of Mitchell Berger, Private Investor. Please proceed with your question.
Hey, guys. Excellent quarter that you had. I'm just wondering, obviously you guys noticed the stock price 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 Tawfik. We continue to be focused on executing the business plan and growing our income. As far as stock price, typically, from what I've seen historically in the stock market, in general, stock follows earnings. We're focused on execution of the business plan of the company. I hope that answers your question.
Okay. Keep on doing what we're doing, I guess.
Thank you.
Thank you. Once again, ladies and gentlemen, if you'd like to ask a question, please press star one on your telephone keypad. 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. I'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.