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10-Q: Q3 2024 Earnings Report

10-Q: Q3 2024 Earnings Report

10-Q：2024財年三季報
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報導2024年第三季度佣金收入爲344萬美元，同比增長5%，這得益於持續的有機增長。然而，公司的淨虧損爲837,314美元，而2023年第三季度的虧損爲139,004美元，主要是由於缺乏來自去年 warrant liability 的收益。營業費用減少了16%，降至395萬美元，反映公司「OneFirm」策略實施所帶來的效率改善。一般和行政費用下降了23%，而市場營銷費用減少了15%。公司在2024年第三季度保持了42,508美元的正向調整 EBITDA，2023年第三季度爲負200,602美元。截至2024年9月30日，Reliance Global...展開全部
Reliance Global Group報導2024年第三季度佣金收入爲344萬美元，同比增長5%，這得益於持續的有機增長。然而，公司的淨虧損爲837,314美元，而2023年第三季度的虧損爲139,004美元，主要是由於缺乏來自去年 warrant liability 的收益。營業費用減少了16%，降至395萬美元，反映公司「OneFirm」策略實施所帶來的效率改善。一般和行政費用下降了23%，而市場營銷費用減少了15%。公司在2024年第三季度保持了42,508美元的正向調整 EBITDA，2023年第三季度爲負200,602美元。截至2024年9月30日，Reliance Global的現金和限制性現金爲235萬美元，營運資金爲431,000美元。公司持續通過收購追求增長，已經簽署協議收購Spetner Associates，這是一家爲全國超過75,000名員工提供福利登記的公司。公司還通過2024年前九個月的ATm發行籌集了282萬美元。

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