Reliance Global Group Inc (OQ:RELI)
Business Focus: Insurance Brokers
| Sector: Financials | Industry: Multiline Insurance & Brokers |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 300 BOULEVARD OF THE AMERICAS , SUITE 105 LAKEWOOD NJ 08701 |
| Tel: | N/A |
| Website: | https://relianceglobalgroup.com |
| IR: | See website |
| Key People | ||
| Ezra Beyman Chairman of the Board, Chief Executive Officer | Joel Markovits Chief Financial Officer | Yaakov Beyman Executive Vice President - Insurance Division | William Lebovics Senior Vice President - Acquisitions |
| Business Overview |
| Reliance Global Group, Inc. is engaged in managing assets in the insurance markets, as well as other related sectors. The Company is focused on acquisition strategy, initially and primarily focused upon wholesale and retail insurance agencies. The Company's insurance operation focuses on the acquisition and management of insurance agencies throughout the United States. Its primary focus is to undervalue wholesale and retail insurance agencies with operations in growing or underserved segments, including healthcare and Medicare, as well as personal and commercial insurance lines. The Company has also developed 5MinuteInsure.com (5MI), an online platform. 5MI is a business-to-consumer Website, which enables consumers to compare and purchase car and home insurance in a time-efficient and effective manner. The platform is primarily live in approximately 44 states and offers coverage with up to 16 carriers. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Reliance Global Group Inc revenues increased 17% to $13.7M. Net loss applicable to common stockholders excluding extraordinary items totaled $12.6M vs. income of $14.6M. Revenues reflect Medical/Life- Altruis segment increase of 35% to $5.5M, RELI Exchange segment increase of 59% to $1.7M. Net loss reflects Recognition and change in fair value of decrease of 81% to $5.5M (income). |
| Employees: | 67 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $14.08M as of Dec 31, 2023 |
| Annual revenue (TTM): | $13.73M as of Dec 31, 2023 |
| EBITDA (TTM): | -$2.19M as of Dec 31, 2023 |
| Net annual income (TTM): | -$12.45M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$1.04M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $12.50M as of Dec 31, 2023 |
| Shares outstanding: | 5,692,387 as of Apr 4, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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