Latest news with #RelianceGlobalGroup
Yahoo
3 days ago
- Business
- Yahoo
JPMorgan Backs RIL Despite Margin Pressures
On Thursday, analysts at JPMorgan reaffirmed their Overweight rating on Reliance Global Group, Inc. (NASDAQ:RELI), while raising the price target to INR1,568 from INR1,530, representing an upside of over 8% from the current levels. In their analysis, the analysts cited that although refining and petrochemical margins have dropped, the downside risk is likely to remain modest throughout the year. An insurance agent talking to a customer in their home office about healthcare insurance options. Having said that, the one-third contribution of the oil-to-chemical (O2C) segment means that there will only be a marginal impact on the consolidated EBITDA. Additionally, the Retail and Telecom segments are anticipated growth catalysts for Reliance Global Group, Inc. (NASDAQ:RELI), driven by favorable base influences. With the Spetner's Associates acquisition completion, the management believes that the strategic traction will accelerate the company's market footprint and expand the agency network. This improvement through synergies and other unanticipated positive factors could translate to higher margins and cost savings. The optimism surrounding EBITDA from the Telecom and Retail sectors can also not be overlooked. Reliance Global Group, Inc. (NASDAQ:RELI) is an InsurTech company that emphasizes acquiring and managing wholesale and retail insurance agencies across the United States. Founded in 2013, the giant leverages technology to transition from the conventional insurance agency model. While we acknowledge the potential of RELI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure. None.
Yahoo
4 days ago
- Business
- Yahoo
JPMorgan Backs RIL Despite Margin Pressures
On Thursday, analysts at JPMorgan reaffirmed their Overweight rating on Reliance Global Group, Inc. (NASDAQ:RELI), while raising the price target to INR1,568 from INR1,530, representing an upside of over 8% from the current levels. In their analysis, the analysts cited that although refining and petrochemical margins have dropped, the downside risk is likely to remain modest throughout the year. An insurance agent talking to a customer in their home office about healthcare insurance options. Having said that, the one-third contribution of the oil-to-chemical (O2C) segment means that there will only be a marginal impact on the consolidated EBITDA. Additionally, the Retail and Telecom segments are anticipated growth catalysts for Reliance Global Group, Inc. (NASDAQ:RELI), driven by favorable base influences. With the Spetner's Associates acquisition completion, the management believes that the strategic traction will accelerate the company's market footprint and expand the agency network. This improvement through synergies and other unanticipated positive factors could translate to higher margins and cost savings. The optimism surrounding EBITDA from the Telecom and Retail sectors can also not be overlooked. Reliance Global Group, Inc. (NASDAQ:RELI) is an InsurTech company that emphasizes acquiring and managing wholesale and retail insurance agencies across the United States. Founded in 2013, the giant leverages technology to transition from the conventional insurance agency model. While we acknowledge the potential of RELI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure. None.
Yahoo
15-05-2025
- Business
- Yahoo
Q1 2025 Reliance Global Group Inc Earnings Call
Ted Ayvas; Investor Relations; Crescendo Communications Ezra Beyman; Chairman of the Board, Chief Executive Officer; Reliance Global Group Inc Joel Markovits; Chief Financial Officer; Reliance Global Group Inc Operator Good day, everyone. Welcome to the Reliance Global Group first-quarter business update conference call. (Operator Instructions) It is now my pleasure to turn the floor over to your host, Ted Ayvas, Investor Relations. Ted, the floor is yours. Ted Ayvas Thanks, Kelly. Good afternoon, and thank you for joining Reliance Global Group's 2025 First Quarter Financial Results and Business Update Conference Call. On the call with us today are Ezra Beyman, Chairman and Chief Executive Officer of Reliance Global Group, and Joel Markovits, Chief Financial Officer of Reliance. Earlier today, the company announced its operating results for the quarter ended March 31, 2025, and the press release is posted on the company's website, In addition, the company will be filing its quarterly report on Form 10-Q with the U.S. Securities and Exchange Commission today, which can also be accessed on the company's website as well as the SEC's website at If you have any questions after the call or would like any additional information about the company, please contact Crescendo Communications at (212) 671-1020. Before Mr. Beyman reviews the company's operating results for the quarter ended March 31, 2025, we would like to remind everyone that this conference call may contain forward-looking statements. All statements other than statements of historical facts contained in this conference call, including statements regarding our future results of operations and financial position, strategy and plans and our expectations for future operations are forward-looking statements. The words anticipate, estimate, expect, project, plan, seek, intend, believe, may, might, will, should, could, likely, continue, design and the negative of such terms and other words and terms of similar expressions are intended to identify forward-looking statements. These forward-looking statements are based largely on the company's current expectations and projections about future events and trends that it believes may affect its financial condition, results of operations, strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to several risks, uncertainties and assumptions as described in the company's Form 10-K filed with the U.S. Securities and Exchange Commission. Because of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this conference call may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although the company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance or achievements. In addition, neither the company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The company disclaims any duty to update any of these forward-looking statements. All forward-looking statements attributable to the company are expressly qualified in their entirety by these cautionary statements as well as others made on this conference call. You should evaluate all forward-looking statements made by the company in the context of these risks and uncertainties. Having said that, I would now like to turn the call over to Ezra Beyman, Chairman and Chief Executive Officer of Reliance Global Group. Ezra? Ezra Beyman Thanks, Ted. Good afternoon, and thank you to everyone for joining us today. I'm pleased to report that we're starting off 2025 on a strong note with improved financial results that build on the solid momentum we've established in 2024. We've seen meaningful growth in our organic revenues, which speaks to the progress we're making in expanding our market share. At the same time, we significantly reduced our net loss and delivered an increase in EBITDA. These gains reflect the continued benefits of our disciplined financial approach, the efficiency we've achieved through our streamlined OneFirm operating model and the absence of impairment charges that impacted last year's results. Altogether, the momentum we're seeing has strengthened our foundation and positioned Reliance Global Group for scalable long-term growth with greater profitability. One of the most exciting developments this quarter is the launch of RELI Auto Leasing, a transformative new service that enables our RELI Exchange agency partners to offer vehicle leasing to clients. Any vehicle delivering to any location in the U.S. are earning commissions on both the lease and the [indiscernible] insurance policy. This service is fully integrated into the agent dashboard requiring no additional training in auto finance. Agents now can guide clients through leasing options during standard policy consultations, whether for new vehicles or replacements after accidents. Clients benefit from competitive pricing, nationwide delivery and advanced insight into how different vehicles may impact their premiums. This integration deepens client relationships and introduces a powerful recurring revenue stream for our partners. Early feedback from agents has been outstanding, and we believe this innovation further distinguishes RELI Exchange as a complete solution for independent agencies. We are also nearing completion of the Spetner's Associates acquisition, a strategic transaction that will expand our market footprint and enhance our agency network. Spetner brings deep experience in personal and commercial lines, along with strong client relationships and a proven team of agents. Their integration will add scale, complement our existing capabilities and create immediate cross-selling opportunities across RELI Exchange offerings, particularly Quote & Bind and RELI Auto Leasing. We expect this acquisition to contribute meaningfully both -- to both revenue growth and margin improvement through synergies, and we view it as a significant step toward our InsurTech growth strategy. With these milestones, RELI Auto Leasing, the continued enhancement of our Quote & Bind platform and the upcoming Spetner Associates integration, we are more confident than ever in our trajectory towards scalable long-term growth. Each initiative adds meaningful dimension to our strategy, expanding services for our agency partners, increasing revenue opportunities, and strengthening our presence across key markets. RELI Auto Leasing introduces a powerful new offering that allows agents to better serve their clients while generating additional income. Our Quote & Bind platform continues to streamline the insurance process through automation and expanded carrier access. Meanwhile, the integration of Spetner Associates is expected to broaden our footprint, complement our capabilities and create valuable cross-selling opportunities across the platform. Together, these efforts reflect our ongoing commitment to innovation, disciplined growth and shareholder value. We look forward to building on this momentum as we move through 2025 and beyond. I would like to now turn the call over to Joel Markovits, our Chief Financial Officer of Reliance Global to review the financial results for the quarter ended March 31, 2025. Joel? Joel Markovits Thank you very much, Ezra, and good afternoon. It will be my pleasure to share with you some of our key financial highlights for the quarter ended March 31, 2025. All figures presented are approximates. Commission income increased by $154,000 or 4% to $4.2 million in Q1 '25 compared to $4.1 million in Q1 '24. The 4% increase reflects encouraging continued organic growth across our insurance distribution channels. Commission expense increased by $200,000 to $1.5 million in Q1 '25 compared to $1.3 million in Q1 '24. Increase reflects higher payouts to agents in line with the increased revenues. Salaries and wages increased by $400,000 to $2.2 million in Q1 '25 compared to $1.8 million in Q1 '24. $400,000 increase is primarily due to non-cash equity awards in the amount of $540,000. And removing the impact of these non-cash equity charges, salaries and wages actually decreased quarter-over-quarter, a testament to cost efficiencies deployed by the company while still being able to grow revenues. General and administrative costs increased by $140,000 to $1.5 million in Q1 '25 compared to $1.4 million in Q1 '24, primarily due to $485,000 of non-cash equity payments to certain of the Company's directors and service providers. And when removing the impact of these non-cash equity charges general and administrative costs show a handsome decrease quarter-over-quarter, a reflection of management's disciplined approach to cost controls and the success of our OneFirm business model. Net loss decreased by $3.6 million or 68% to $1.7 million in Q1 '25 versus $5.3 million in Q1 '24. This substantial 68% improvement is a result of no new asset impairment charges during our current quarter and the company continuing to remain laser focused on streamlining its operations, increasing its revenues and controlling its costs. EBITDA, our adjusted EBITDA metric, a non-GAAP measure by key company performance indicator improved significantly by 300% in Q1 '25 from a loss of $74,000 in Q1 '24 to a gain of $145,000 in Q1 '25, a $220,000 increase. This marks another quarter of AEBITDA gain for the company and demonstrates our continued trend towards sustained and increased profitability. In summary, as mentioned by Ezra, we've gotten off to a very good start in 2025 with exciting organic growth in our revenues, decreasing cash operating costs and increasing net EBITDA gains. With our scalable operating model, focus on innovation and expansion of our market footprint by organic and acquisitive growth, we remain firmly committed to continuously build a highly profitable business enterprise that delivers long-lasting value to our employees, investors and shareholders. We'll now turn the call back to the operator to open the lines for questions, comments and/or feedback. Operator? Operator (Operator Instructions) [Nicole Kaufman], BlackRidge Capital. Congrats on the positive quarter. My first question is related to the Spetner acquisition. So once this is complete, can you share some insights into the key benefits that Spetner will bring to Reliance? Ezra Beyman Yes, sure. That's -- we're excited about that. Well, God willing, it first of all brings us to a very important -- significant increase in EBITDA positivity, profitability. And also doubles our revenue, and that doesn't even take into account the amazing and tremendous cost selling potential. Remember, they service over 85,000 employees. And we have many insurance products that they haven't had access until now. So we really see that as a tremendous potential as well aside from the intrinsic on day one increase in profitability and revenue. But we're really excited about it. And then going into adjusted EBITDA. So congrats on achieving positive adjusted EBITDA again. Obviously, this is an important milestone. What were the key drivers behind the positive adjusted EBITDA in the first quarter? And how do you see it trending moving forward? Ezra Beyman So I think the -- I mean, it's really a multi approach, not just one, focusing, like Joel mentioned, on the OneFirm approach, streamlining expenses when we can across different the different agencies. Also cross-selling and offering more selling abilities to our in-house agents and the downline agents. And bring, of course, focused also on good old-fashioned, not wasting money. Trying to be cost conscious when we know as time goes on, you see where to spend the money and where not to waste the money. So a combination of increasing revenue, like we've actually showned on the reducing expenses. And we look forward actually with today, more and more technology available to -- in all these areas to improve. We look forward to even more exciting increases. Well, I appreciate that insight. If I have another question, I'll hop into the queue. Ezra Beyman Thank you very much. Operator (Operator Instructions) There are no additional questions in queue at this time. I would now like to turn the floor back over to management for any closing remarks. Joel Markovits Thank you. On behalf of Ezra and entire Reliance team, we appreciate your participation in today's business update. We're very enthusiastic about the horizon for Reliance. I'm grateful to you, our valued shareholders and stakeholders for being with us on this onward journey together. Thank you, and all the very best. Operator Thank you, everyone. This does conclude today's conference call. You may disconnect your phone lines at this time, and have a wonderful day. Thank you for your participation. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-03-2025
- Business
- Yahoo
Reliance Global Group Full Year 2024 Earnings: US$9.01 loss per share (vs US$75.74 loss in FY 2023)
Revenue: US$14.1m (up 2.3% from FY 2023). Net loss: US$9.07m (loss narrowed by 28% from FY 2023). US$9.01 loss per share (improved from US$75.74 loss in FY 2023). All figures shown in the chart above are for the trailing 12 month (TTM) period Reliance Global Group shares are down 1.4% from a week ago. Don't forget that there may still be risks. For instance, we've identified 5 warning signs for Reliance Global Group that you should be aware of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
