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8-K: Reliance Global Group Reports First Quarter 2024 Results and Provides Business Update

8-K: Reliance Global Group Reports First Quarter 2024 Results and Provides Business Update

8-K:信实环球集团公布2024年第一季度业绩并提供业务最新情况
美股SEC公告 ·  05/20 16:13

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On May 20, 2024, Reliance Global Group, Inc. announced its financial results for the first quarter ending March 31, 2024. The company, listed on the NASDAQ with common stock symbol RELI and warrants symbol RELIW, is headquartered in Lakewood, New Jersey. The announcement came alongside a definitive agreement to acquire Spetner Associates, a move expected to more than double Reliance's annual revenue to approximately $28 million and significantly contribute to EBITDA. Chairman and CEO Ezra Beyman highlighted the quarter's organic growth and the implementation of the 'OneFirm' approach, which consolidates the company's nine owned and operated agencies across the U.S. into a single cohesive unit. The acquisition of Spetner Associates, known for its advanced technologies and voluntary benefits programs, is seen...Show More
On May 20, 2024, Reliance Global Group, Inc. announced its financial results for the first quarter ending March 31, 2024. The company, listed on the NASDAQ with common stock symbol RELI and warrants symbol RELIW, is headquartered in Lakewood, New Jersey. The announcement came alongside a definitive agreement to acquire Spetner Associates, a move expected to more than double Reliance's annual revenue to approximately $28 million and significantly contribute to EBITDA. Chairman and CEO Ezra Beyman highlighted the quarter's organic growth and the implementation of the 'OneFirm' approach, which consolidates the company's nine owned and operated agencies across the U.S. into a single cohesive unit. The acquisition of Spetner Associates, known for its advanced technologies and voluntary benefits programs, is seen as a transformational event for Reliance, aligning with the company's 'OneFirm' strategy and enhancing its market presence in the $463 billion global insurance agency/brokerage market. The company aims to establish itself as a technology-enabled enterprise focused on sustainable profitability and shareholder value. A conference call was held on the same day to discuss the financial results and corporate progress.
2024年5月20日,信实环球集团公布了截至2024年3月31日的第一季度财务业绩。该公司在纳斯达克上市,普通股代码为RELI,认股权证代码为RELIW,总部位于新泽西州莱克伍德。该公告与收购Spetner Associates的最终协议同时发布,此举预计将使信实的年收入增加一倍以上,达到约2,800万美元,并将对息税折旧摊销前利润做出重大贡献。董事长兼首席执行官埃兹拉·贝曼强调了本季度的有机增长以及 “OneFirm” 方法的实施,该方法将公司在美国的九个自有和运营机构合并为一个统一的单位。收购以先进技术和自愿福利计划而闻名的Spetner Associates被视为信实的变革性事件,它符合该公司的 “OneFirm” 战略,增强了其在4,630亿美元的全球保险机构/经纪市场的市场占有率。该公司的目标是将自己打造成一家专注于可持续盈利能力和股东价值的技术型企业。当天举行了电话会议,讨论财务业绩和公司进展。
2024年5月20日,信实环球集团公布了截至2024年3月31日的第一季度财务业绩。该公司在纳斯达克上市,普通股代码为RELI,认股权证代码为RELIW,总部位于新泽西州莱克伍德。该公告与收购Spetner Associates的最终协议同时发布,此举预计将使信实的年收入增加一倍以上,达到约2,800万美元,并将对息税折旧摊销前利润做出重大贡献。董事长兼首席执行官埃兹拉·贝曼强调了本季度的有机增长以及 “OneFirm” 方法的实施,该方法将公司在美国的九个自有和运营机构合并为一个统一的单位。收购以先进技术和自愿福利计划而闻名的Spetner Associates被视为信实的变革性事件,它符合该公司的 “OneFirm” 战略,增强了其在4,630亿美元的全球保险机构/经纪市场的市场占有率。该公司的目标是将自己打造成一家专注于可持续盈利能力和股东价值的技术型企业。当天举行了电话会议,讨论财务业绩和公司进展。
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