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10-Q: Q2 2024 Earnings Report

10-Q: Q2 2024 Earnings Report

10-Q：2024财年二季报
美股SEC公告 ·  07/25 16:16
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Reliance Global Group, Inc. (RELI) reported its financial results for the quarter ended June 30, 2024. The company saw a slight increase in commission income, rising 1% year-over-year to $3,233,342. However, total operating expenses decreased by 13% to $4,379,920, primarily due to a reduction in general and administrative expenses and depreciation and amortization. Despite these reductions, RELI experienced a net loss of $1,489,395, which was a 41% increase from the previous year's net loss of $1,055,286. The company's cash position remained strong with a balance of approximately $2,816,000 and working capital of approximately $600,000. RELI continues to focus on its acquisition strategy within the insurance market, with the recent agreement to acquire Spetner Associates, a benefits enrollment company. Looking forward, RELI aims to expand its business through further asset acquisitions and organic growth of its current insurance operations.
Reliance Global Group, Inc. (RELI) reported its financial results for the quarter ended June 30, 2024. The company saw a slight increase in commission income, rising 1% year-over-year to $3,233,342. However, total operating expenses decreased by 13% to $4,379,920, primarily due to a reduction in general and administrative expenses and depreciation and amortization. Despite these reductions, RELI experienced a net loss of $1,489,395, which was a 41% increase from the previous year's net loss of $1,055,286. The company's cash position remained strong with a balance of approximately $2,816,000 and working capital of approximately $600,000. RELI continues to focus on its acquisition strategy within the insurance market, with the recent agreement to acquire Spetner Associates, a benefits enrollment company. Looking forward, RELI aims to expand its business through further asset acquisitions and organic growth of its current insurance operations.
Reliance Global Group, Inc. (RELI)发布了截至2024年6月30日的财务报告。该公司的佣金收入略微增长，同比上升1%，达到3,233,342美元。然而，总营业费用下降了13%，降至4,379,920美元，主要是由于一般及行政费用和折旧及摊销费用的减少。尽管出现这些降低，RELI的净损失仍然高达1,489,395美元，同比去年的1,055,286美元的净亏损增长了41%。该公司的现金余额仍然强劲，约为2,816,000美元，营运资金约为600,000美元。RELI继续专注于其在保险市场中的收购策略，并最近达成协议收购Spetner Associates，一家福利登记公司。展望未来，RELI致力于通过进一步收购资产和扩大其当前保险业务的有机增长来扩大业务。
Reliance Global Group, Inc. (RELI)发布了截至2024年6月30日的财务报告。该公司的佣金收入略微增长，同比上升1%，达到3,233,342美元。然而，总营业费用下降了13%，降至4,379,920美元，主要是由于一般及行政费用和折旧及摊销费用的减少。尽管出现这些降低，RELI的净损失仍然高达1,489,395美元，同比去年的1,055,286美元的净亏损增长了41%。该公司的现金余额仍然强劲，约为2,816,000美元，营运资金约为600,000美元。RELI继续专注于其在保险市场中的收购策略，并最近达成协议收购Spetner Associates，一家福利登记公司。展望未来，RELI致力于通过进一步收购资产和扩大其当前保险业务的有机增长来扩大业务。
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