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10-Q: Q2 2024 Earnings Report

10-Q: Q2 2024 Earnings Report

10-Q：2024財年二季報
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)發佈了截至2024年6月30日的財務報告。該公司的佣金收入略微增長，同比上升1%，達到3,233,342美元。然而，總營業費用下降了13%，降至4,379,920美元，主要是由於一般及行政費用和折舊及攤銷費用的減少。儘管出現這些降低，RELI的淨損失仍然高達1,489,395美元，同比去年的1,055,286美元的淨虧損增長了41%。該公司的現金餘額仍然強勁，約爲2,816,000美元，營運資金約爲600,000美元。RELI繼續專注於其在保險市場中的收購策略，並最近達成協議收購Spetner Associates，一家福利登記公司。展望未來，RELI致力於通過進一步收購資產和擴大其當前保險業務的有機增長來擴大業務。
Reliance Global Group, Inc. (RELI)發佈了截至2024年6月30日的財務報告。該公司的佣金收入略微增長，同比上升1%，達到3,233,342美元。然而，總營業費用下降了13%，降至4,379,920美元，主要是由於一般及行政費用和折舊及攤銷費用的減少。儘管出現這些降低，RELI的淨損失仍然高達1,489,395美元，同比去年的1,055,286美元的淨虧損增長了41%。該公司的現金餘額仍然強勁，約爲2,816,000美元，營運資金約爲600,000美元。RELI繼續專注於其在保險市場中的收購策略，並最近達成協議收購Spetner Associates，一家福利登記公司。展望未來，RELI致力於通過進一步收購資產和擴大其當前保險業務的有機增長來擴大業務。
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