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Reliance Global Group (RELI)
:RELI
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Earnings Data
Report Date
Mar 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jun 12, 2020
|% Change Since: -12.56%
|Next Earnings Date:Aug 14, 2019
Earnings Call Sentiment|Positive
The earnings call reflects a positive sentiment with significant revenue growth, improved financial metrics, and strategic initiatives like the acquisition of Spetner Associates and the launch of an AI-powered solution. While there were some cost challenges, such as increased commission expenses and an intangible asset impairment charge, the overall performance and future prospects indicate a strong positive outlook.Company Guidance
During the Reliance Global Group's Q3 2024 earnings call, the company reported significant financial improvements and strategic initiatives. Revenue for the quarter increased by 5% to $3.4 million, while operating expenses fell by 16% to $3.9 million, leading to a 64% improvement in loss from operations. The net loss was $837,000, a 54% improvement compared to last year's adjusted net loss. Notably, the company achieved a positive adjusted EBITDA of $42,000, reflecting a 121% increase from the previous year. Reliance's OneFirm strategy, which consolidates its insurance agencies, contributed to these results by reducing costs and enhancing cross-selling opportunities. The anticipated acquisition of Spetner Associates is expected to double revenues and further accelerate growth. Additionally, the launch of an AI-powered commercial quote platform aims to improve client satisfaction and revenue streams. These efforts underscore Reliance's commitment to becoming a profitable, multibillion-dollar enterprise.Revenue Growth and Cost Management
Revenue grew by 5% to $3.4 million, while total operating expenses declined by 16% to $3.9 million, leading to a 64% improvement in loss from operations.
Improved Net Loss and Positive Adjusted EBITDA
Net loss improved by approximately $1 million or 54% over the previous year's comparable quarter. Adjusted EBITDA showed a gain of approximately $42,000, marking a 121% increase from the same period in the prior year.
OneFirm Strategy Success
The OneFirm strategy led to revenue growth, reduced operating costs, and positive shifts in net results. This approach enabled efficient cross-selling, collaboration, and optimized use of human capital.
Acquisition of Spetner Associates
Anticipated acquisition of Spetner Associates, expected to double consolidated revenues and drive accelerated revenue growth. Spetner's voluntary benefit insurance segment grew from 45,000 to 85,000 covered employees.
Launch of AI-Powered Solution
Launched an AI-powered commercial quote and buying solution on the RELI Exchange platform, enhancing client satisfaction and increasing revenue streams for agents.
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RELI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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RELI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $2.07 | $1.93 | -6.76% |
| Jul 25, 2024 | $4.07 | $3.76 | -7.62% |
| May 20, 2024 | $5.61 | $5.02 | -10.52% |
| Apr 04, 2024 | $6.29 | $9.01 | +43.24% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Reliance Global Group (RELI) report earnings?
Reliance Global Group (RELI) is schdueled to report earning on Mar 27, 2025, TBA Not Confirmed.
What is Reliance Global Group (RELI) earnings time?
Reliance Global Group (RELI) earnings time is at Mar 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is RELI EPS forecast?
Currently, no data Available
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