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10-Q: Q3 2024 Earnings Report

10-Q: Q3 2024 Earnings Report

10-Q：2024财年三季报
美股SEC公告 ·  2024/11/08 05:29

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Reliance Global Group reported Q3 2024 commission income of $3.44 million, up 5% year-over-year, driven by sustained organic growth. However, the company recorded a net loss of $837,314 compared to a $139,004 loss in Q3 2023, primarily due to the absence of warrant liability gains from the prior year.Operating expenses decreased 16% to $3.95 million, reflecting improved efficiencies from the company's "OneFirm" strategy implementation. General and administrative expenses fell 23% while marketing costs declined 15%. The company maintained positive adjusted EBITDA of $42,508 in Q3 2024, compared to negative $200,602 in Q3 2023.As of September 30, 2024, Reliance Global had cash and restricted cash of $2.35 million and working capital of $431,000. The company continues to pursue growth through acquisitions, having entered into an agreement to acquire Spetner Associates, a benefits enrollment company serving over 75,000 employees nationwide. The company also raised $2.82 million through an ATM offering during the first nine months of 2024.
Reliance Global Group reported Q3 2024 commission income of $3.44 million, up 5% year-over-year, driven by sustained organic growth. However, the company recorded a net loss of $837,314 compared to a $139,004 loss in Q3 2023, primarily due to the absence of warrant liability gains from the prior year.Operating expenses decreased 16% to $3.95 million, reflecting improved efficiencies from the company's "OneFirm" strategy implementation. General and administrative expenses fell 23% while marketing costs declined 15%. The company maintained positive adjusted EBITDA of $42,508 in Q3 2024, compared to negative $200,602 in Q3 2023.As of September 30, 2024, Reliance Global had cash and restricted cash of $2.35 million and working capital of $431,000. The company continues to pursue growth through acquisitions, having entered into an agreement to acquire Spetner Associates, a benefits enrollment company serving over 75,000 employees nationwide. The company also raised $2.82 million through an ATM offering during the first nine months of 2024.
Reliance Global Group报导2024年第三季度佣金收入为344万美元，同比增长5%，这得益于持续的有机增长。然而，公司的净亏损为837,314美元，而2023年第三季度的亏损为139,004美元，主要是由于缺乏来自去年 warrant liability 的收益。营业费用减少了16%，降至395万美元，反映公司“OneFirm”策略实施所带来的效率改善。一般和行政费用下降了23%，而市场营销费用减少了15%。公司在2024年第三季度保持了42,508美元的正向调整 EBITDA，2023年第三季度为负200,602美元。截至2024年9月30日，Reliance Global...展开全部
Reliance Global Group报导2024年第三季度佣金收入为344万美元，同比增长5%，这得益于持续的有机增长。然而，公司的净亏损为837,314美元，而2023年第三季度的亏损为139,004美元，主要是由于缺乏来自去年 warrant liability 的收益。营业费用减少了16%，降至395万美元，反映公司“OneFirm”策略实施所带来的效率改善。一般和行政费用下降了23%，而市场营销费用减少了15%。公司在2024年第三季度保持了42,508美元的正向调整 EBITDA，2023年第三季度为负200,602美元。截至2024年9月30日，Reliance Global的现金和限制性现金为235万美元，营运资金为431,000美元。公司持续通过收购追求增长，已经签署协议收购Spetner Associates，这是一家为全国超过75,000名员工提供福利登记的公司。公司还通过2024年前九个月的ATm发行筹集了282万美元。

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