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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:信實環球集團公佈2024年第一季度業績並提供業務最新情況
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,信實環球集團公佈了截至2024年3月31日的第一季度財務業績。該公司在納斯達克上市,普通股代碼爲RELI,認股權證代碼爲RELIW,總部位於新澤西州萊克伍德。該公告與收購Spetner Associates的最終協議同時發佈,此舉預計將使信實的年收入增加一倍以上,達到約2,800萬美元,並將對息稅折舊攤銷前利潤做出重大貢獻。董事長兼首席執行官埃茲拉·貝曼強調了本季度的有機增長以及 “OneFirm” 方法的實施,該方法將公司在美國的九個自有和運營機構合併爲一個統一的單位。收購以先進技術和自願福利計劃而聞名的Spetner Associates被視爲信實的變革性事件,它符合該公司的 “OneFirm” 戰略,增強了其在4,630億美元的全球保險機構/經紀市場的市場佔有率。該公司的目標是將自己打造成一家專注於可持續盈利能力和股東價值的技術型企業。當天舉行了電話會議,討論財務業績和公司進展。
2024年5月20日,信實環球集團公佈了截至2024年3月31日的第一季度財務業績。該公司在納斯達克上市,普通股代碼爲RELI,認股權證代碼爲RELIW,總部位於新澤西州萊克伍德。該公告與收購Spetner Associates的最終協議同時發佈,此舉預計將使信實的年收入增加一倍以上,達到約2,800萬美元,並將對息稅折舊攤銷前利潤做出重大貢獻。董事長兼首席執行官埃茲拉·貝曼強調了本季度的有機增長以及 “OneFirm” 方法的實施,該方法將公司在美國的九個自有和運營機構合併爲一個統一的單位。收購以先進技術和自願福利計劃而聞名的Spetner Associates被視爲信實的變革性事件,它符合該公司的 “OneFirm” 戰略,增強了其在4,630億美元的全球保險機構/經紀市場的市場佔有率。該公司的目標是將自己打造成一家專注於可持續盈利能力和股東價值的技術型企業。當天舉行了電話會議,討論財務業績和公司進展。
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