Appointments of Zack Wilder as CTO, Judah Korman as COO, and Mordy Beyman as Executive Vice President to advance dual strategy: In-house development of planned AI-native insurance products and AI-powered agency acquisition roll-up
LAKEWOOD, NJ, June 22, 2026 (GLOBE NEWSWIRE) — Reliance Global Group, Inc. (NASDAQ: EZRA), an Insurtech company that acquires independent insurance agencies, consolidates them into a unified network, and supports them with a technology platform, today announced the appointments of Judah Korman as Chief Operating Officer, Zack Wilder as Chief Technology Officer, and Mordy Beyman as Executive Vice President, alongside two additional engineers who join Wilder in forming the company’s newly established AI product development team. As previously announced, Moshe Fishman, Senior Vice President of Insurtech, completes the team, bringing fluency in emerging Insurtech infrastructure that is transforming traditional insurance operations.
The appointments mark a next step in Reliance’s strategic direction: the development of AI-native insurance products intended for mass-market distribution and an AI-powered insurance agency acquisition roll-up. The appointments build on several years of execution, during which Reliance has acquired a network of independent agencies and developed the technology platform that it intends to serve as the foundation for its AI expansion.
“Reliance was founded on the belief that insurance, one of the largest and most entrenched industries in the world, was overdue for a fundamental rethinking,” said Ezra Beyman, Chief Executive Officer of Reliance Global Group. “We started by embedding technology into the agency model, and the results validated that thesis. Now we are going further: running our acquisition roll-up through an AI backbone and investing in insurance products that we believe AI has made possible for the first time. Judah, Zack, Mordy, Moshe, and the engineering team they are building are the right people to lead that chapter.”
Reliance is entering its next phase of growth with a dual mandate, with artificial intelligence as the strategic framework connecting both pillars. The first is an AI-powered insurance agency acquisition roll-up – building upon Reliance’s existing business of acquiring independent agencies and integrating them into a centralized operating platform designed to automate workflows, enhance underwriting, and extract compounding value from each agency’s data and operations. The second is the development of AI-native insurance products built for digital-first distribution at scale. The Company believes AI is not a feature layer added to either strategy; it is the architecture both are designed around.
The Company believes the roll-up model is meaningfully differentiated when powered by AI. Traditional insurance consolidators often face diminishing returns as acquired agencies require heavy operational integration and manual management. Reliance’s approach is designed to use automation and data intelligence to streamline back-office operations, improve coverage routing, and generate performance intelligence across the agency network, with the goal of compressing integration timelines and improving acquisition economics relative to conventional roll-up strategies.
The AI-native product is the company’s second approach: insurance products intended to be conceived entirely around artificial intelligence, not adapted from legacy models. This approach is expected to use AI for risk selection and pricing, to deploy conversational AI to replace traditional quoting and binding workflows, and to build data infrastructure that improves with every policy written. These are not incremental improvements to existing products; they are intended to be new products that the Company believes recent advances in AI have made possible.
The two pillars are designed to reinforce each other. Acquired agencies contribute carrier relationships, books of business, and proprietary data. The platform and in-house products, in turn, are intended to make each acquired agency more efficient and competitive. Reliance believes this positions the Company distinctly from both traditional consolidators and pure-play Insurtech companies operating without established distribution scale.
Leadership Appointments
Judah Korman – Chief Operating Officer
Korman joins as Chief Operating Officer with responsibility for scaling Reliance’s operating model across its growing network of AI-powered agencies and platforms. He brings a decade of experience building and exiting technology companies, with a track record that spans founding and scaling a mobile logistics marketplace to a successful acquisition, building, and growing numerous consumer apps, and serving as a private equity analyst on leveraged buyout transactions. He brings deep expertise in the operational complexity of scaling multi-sided platforms. In this role, Korman will focus on translating Reliance’s AI strategy into operating discipline across agency integration, workflow centralization, performance management, and scalable execution.
Zack Wilder – Chief Technology Officer
Wilder joins as Chief Technology Officer with extensive fintech experience, having led major engineering initiatives at Coinbase and Capital One in support of core financial and authentication infrastructure at two security-intensive platforms in financial services. At Reliance, Wilder’s mandate is to turn the Company’s AI strategy into product architecture, engineering execution, and scalable technology infrastructure – encompassing the AI platform powering the acquisition roll-up and the build-out of AI-native insurance products. His background building regulated, high-stakes financial infrastructure positions him to move with speed and precision in an industry where compliance and security are non-negotiable.
Wilder is joined by two additional engineers who form the founding members of Reliance’s AI product development team. The team’s initial focus is building the core AI infrastructure that will power both the agency roll-up platform and the Company’s first AI-native insurance products.
Mordy Beyman – Executive Vice President
Beyman advances to Executive Vice President of Reliance Global Group, formalizing a role he has held in practice for some time. He has been closely involved in shaping Reliance’s long-term strategic vision, including its positioning in technology and the investments that underpin its current AI initiative. Beyman’s involvement in the architecture of this new chapter – from identifying the AI opportunity to guiding the leadership build-out – makes his formal appointment a natural extension of the work already underway. In his role as Executive Vice President, Beyman will focus on coordinating strategic execution across the leadership team, technology roadmap, and broader AI initiative.
Together, these appointments are designed to give Reliance the ability to execute across product development, agency integration, technology infrastructure, and AI-enabled operating efficiency.
“Insurance distribution has been resistant to the kind of operational transformation that technology has brought to other areas of financial services. What Reliance has built is a genuine foundation for the agency network, the carrier relationships, and now the AI platform to centralize and amplify it all. An AI-powered roll-up is designed to be a meaningfully different proposition from a traditional consolidation play. The economics are designed to compound differently, the integration timelines are designed to compress, and the data advantage widens with every acquisition,” said Korman.
“I spent years at Capital One building infrastructure for an industry most people thought was too complex and too regulated to change quickly. Insurance is in a similar position today, and AI is now mature enough to do more than automate workflows. It can reimagine what an insurance product looks like, how it is priced, and how it reaches a customer. That is what we are building at Reliance, starting with a solid foundation and a head start on the rest of the industry,” said Wilder.
“I have been part of building this vision for some time, and what excites me most is that the timing is right. The AI tools available today are genuinely capable of transforming how insurance is distributed and how products are built. Reliance has the carrier relationships, the agency network that is licensed across the United States, and now the team to execute on that. My focus is making sure this initiative scales with the ambition behind it,” said Beyman.
About Reliance Global Group
Reliance Global Group, Inc. (NASDAQ: EZRA) is an Insurtech company that acquires independent insurance agencies, consolidates them into a unified network, and supports them with a technology platform. The company is pursuing an AI-powered acquisition roll-up strategy intended to bring independent agency distribution onto a centralized AI platform, while simultaneously seeking to develop AI-native insurance products for mass-market distribution. For more information, visit www.relianceglobalgroup.com.
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “estimate,” “plan,” “intend,” “will,” “designed to,” “intended to,” “seeking to,” “positions,” and similar expressions, and include all statements that are not statements of historical fact. These forward-looking statements include, but are not limited to, statements regarding: the Company’s dual strategy of an AI-powered insurance agency acquisition roll-up and the planned development of AI-native insurance products; the anticipated benefits of integrating acquired agencies onto a centralized AI-driven operating platform, including automation of workflows, enhanced underwriting, and the extraction of value from agency data and operations; the Company’s belief that its AI-powered roll-up approach is meaningfully differentiated from conventional roll-up strategies and may compress integration timelines and improve acquisition economics; the expectation that the Company’s two strategic pillars will reinforce one another; the development, capabilities, pricing, distribution, and market acceptance of the Company’s contemplated AI-native insurance products; the Company’s ability to scale acquisitions and execute on its growth strategy; and the anticipated contributions of the newly appointed members of the leadership team and engineering personnel.
Forward-looking statements are based on the Company’s current expectations and assumptions and are subject to known and unknown risks, uncertainties, and other factors that could cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, among others: the Company’s ability to develop, deploy, and commercialize AI-based platforms and products on the timelines or with the capabilities currently anticipated, or at all; the risk that the anticipated economic, operational, and integration benefits of an AI-powered roll-up are not realized; the Company’s ability to identify, finance, complete, and integrate agency acquisitions; the Company’s need for, and ability to obtain, additional capital to fund its strategy; the evolving regulatory environment applicable to insurance, artificial intelligence, and data use; competition from both traditional consolidators and Insurtech companies; the Company’s ability to attract and retain qualified personnel, including the newly appointed officers; and the risk factors discussed in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”).
For a more detailed discussion of these and other risks and uncertainties, investors should review the disclosures contained under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in the Company’s subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, each as filed with the SEC and available at www.sec.gov.
The forward-looking statements in this press release speak only as of the date hereof. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.
LAKEWOOD, NJ, June 03, 2026 (GLOBE NEWSWIRE) — Reliance Global Group, Inc. (Nasdaq: EZRA) (“we,” “us,” “our,” the “Company” or “Reliance”) today announced that it received formal notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC informing the Company that it has regained compliance with Nasdaq Listing Rule 5550(a)(2), the minimum bid price requirement for continued listing on Nasdaq.
As previously disclosed, on December 12, 2025, the Company was notified by Nasdaq that its common stock had failed to maintain a minimum bid price of $1.00 per share for 30 consecutive business days. Nasdaq has now determined that the closing bid price of the Company’s common stock was at or above $1.00 per share for 10 consecutive business days from May 18, 2026, through June 1, 2026. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2), and the matter has been closed.
Ezra Beyman, Chairman and Chief Executive Officer of Reliance Global Group, commented, “Regaining compliance reflects the progress we have made in executing our strategic initiatives and reinforces our commitment to maintaining the standards expected of a Nasdaq-listed company. We remain focused on executing our growth strategy as we expand our Insurtech footprint, as well as advancing the development of EZRA International Group, leveraging our technology-driven platform, and creating sustainable long-term value for our shareholders. We are committed to driving innovation across our businesses and pursuing opportunities that enhance our competitive position and support future growth.”
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: EZRA) is an InsurTech pioneer leveraging artificial intelligence (AI) and cloud-based technologies to transform and improve efficiencies in the insurance agency and brokerage industry. The Company’s business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies with a full suite of business development tools, enabling them to compete effectively with large-scale national insurance agencies while reducing back-office costs and burden. The Company’s business-to-consumer platform, 5minuteinsure.com, uses AI and data mining to provide competitive online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance. In addition, the Company operates its own portfolio of select retail brick-and-mortar insurance agencies, which are leaders and pioneers in their respective regions throughout the United States and offer a wide variety of insurance products.
In addition to its insurance and Insurtech operations, Reliance operates EZRA International Group, its strategic growth platform focused on identifying, acquiring, and building majority or controlling stakes in high-growth technology and life sciences companies. EZRA International Group is designed to complement Reliance’s core insurance business by expanding market reach and supporting long-term shareholder value creation through disciplined capital allocation and active ownership.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as “believes,” “expects,” “anticipates,” “focused on,” “committed to,” “designed to,” “positioned to,” “continues,” “potential,” “opportunity,” and similar expressions, or by discussions of strategy, plans, or intentions. Forward-looking statements in this press release include, without limitation, statements regarding: the Company’s strategic initiatives and growth strategy; the expansion of the Company’s Insurtech footprint; the continued development of EZRA International Group and the expected benefits thereof; the Company’s ability to leverage its technology-driven platform; and the Company’s ability to drive innovation, enhance its competitive position, support future growth, and create sustainable long-term value for its shareholders.
These statements are based on management’s current beliefs, assumptions, and expectations and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Actual results, performance, or achievements may differ materially from those expressed or implied by any forward-looking statement. Factors that could cause or contribute to such differences include, but are not limited to: the Company’s ability to successfully execute on its strategic initiatives and growth strategy; the Company’s ability to integrate and develop EZRA International Group and execute its broader strategic platform investment strategy; competition in the insurance, insurtech, and technology sectors; dependence on key technology development milestones, third-party platforms, and third-party partners; the Company’s continued compliance with Nasdaq listing requirements; general economic, market, and capital markets conditions; and other risks described from time to time in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.
Actual results may differ materially from those expressed or implied by these forward-looking statements. Additional information regarding factors that may cause actual results to differ materially is included under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and in the Company’s subsequent periodic reports and other filings with the Securities and Exchange Commission.
The Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date of this press release. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Company Targets Multi-Billion-Dollar Cybersecurity Upgrade Cycle as Governments, Financial Institutions, AI Infrastructure Operators and Critical Networks Prepare for Emerging Quantum Threats to Legacy Encryption
LAKEWOOD, NJ, June 01, 2026 (GLOBE NEWSWIRE) — Reliance Global Group, Inc. (Nasdaq: EZRA) (“we,” “us,” “our,” the “Company” or “Reliance”) today provided an update on ENQUANTUM Ltd. (“ENQUANTUM”), its post-quantum cybersecurity investment, highlighting a significant technical milestone as global urgency around quantum-resilient cybersecurity continues to accelerate.
Nation-state-level quantum computers are expected to eventually compromise many widely deployed encryption methods currently used across global digital infrastructure. ENQUANTUM is developing post-quantum security technologies designed to address this transition by integrating next-generation encryption methods, into high-performance architectures engineered for secure, low-latency network environments.
Recent developments across the quantum sector continue reinforcing the growing strategic importance of post-quantum security infrastructure. Last week, the U.S. Department of Commerce announced the signing of letters of intent to provide approximately $2.013 billion in proposed CHIPS and Science Act incentives to support quantum computing and quantum infrastructure initiatives across multiple companies and domestic quantum foundries. The initiative is designed to accelerate U.S. leadership in quantum computing and strengthen national security and critical infrastructure capabilities, further validating the increasing urgency surrounding quantum preparedness across both public and private sectors. The Company believes the increasing alignment between government policy, enterprise cybersecurity planning and quantum infrastructure investment is helping move post-quantum migration from long-term research planning toward active implementation discussions across critical digital infrastructure markets.
“We believe the market is now beginning to recognize the scale and urgency of the post-quantum transition,” said Ezra Beyman, Chairman and Chief Executive Officer of Reliance Global Group. “Our investment in ENQUANTUM was initiated well before the recent surge of public attention surrounding quantum technologies because we believed early on that quantum-resilient cybersecurity would become a critical infrastructure requirement. We are not simply chasing market momentum. We believe the increasing global focus on quantum computing and recent government initiatives further validate our strategic decision to build a position in post-quantum cybersecurity infrastructure through ENQUANTUM and our strategy, which is focused on identifying and scaling high-impact technology platforms through disciplined capital allocation and active operational involvement.”
Moshe Fishman, Senior Vice President of Strategic Ventures at Reliance Global Group, added, “The importance of post-quantum cryptography is becoming increasingly clear as governments, financial institutions, AI infrastructure operators and large-scale networks begin evaluating how to protect critical systems against future quantum threats. ENQUANTUM’s focus on infrastructure-grade encryption is being designed to support environments where latency, throughput and scalability are essential, particularly across sensitive financial systems, AI workloads, telecommunications infrastructure and other mission-critical digital environments. We believe the industry is still in the early stages of what could become one of the largest cybersecurity infrastructure upgrade cycles in decades.”
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: EZRA) is an InsurTech pioneer leveraging artificial intelligence (AI) and cloud-based technologies to transform and improve efficiencies in the insurance agency and brokerage industry. The Company’s business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies with a full suite of business development tools, enabling them to compete effectively with large-scale national insurance agencies while reducing back-office costs and burden. The Company’s business-to-consumer platform, 5minuteinsure.com, uses AI and data mining to provide competitive online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance. In addition, the Company operates its own portfolio of select retail brick-and-mortar insurance agencies, which are leaders and pioneers in their respective regions throughout the United States and offer a wide variety of insurance products.
In addition to its insurance and Insurtech operations, Reliance operates EZRA International Group, its strategic growth platform focused on identifying, acquiring, and building majority or controlling stakes in high-growth technology and life sciences companies. EZRA International Group is designed to complement Reliance’s core insurance business by expanding market reach and supporting long-term shareholder value creation through disciplined capital allocation and active ownership.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as “believes,” “expects,” “anticipates,” “designed to,” “positioned to,” “continues,” “potential,” “opportunity,” and similar expressions, or by discussions of strategy, plans, or intentions. Forward-looking statements in this press release include, without limitation, statements regarding: the Company’s investment in ENQUANTUM Ltd. (“ENQUANTUM”) and the expected strategic and financial benefits thereof;; the timing, scale, and economic impact of any post-quantum cybersecurity upgrade cycle, including statements characterizing such a cycle as “multi-billion-dollar” or as one of the largest cybersecurity infrastructure upgrade cycles in decades; the timing, magnitude, and ultimate effect of governmental initiatives referenced herein, including the U.S. Department of Commerce’s announcement of letters of intent for approximately $2.013 billion in proposed CHIPS and Science Act incentives, and whether such initiatives will translate into definitive funding, policy support, or commercial opportunities benefiting ENQUANTUM or the Company; the expected progression of post-quantum migration from research planning toward active implementation; the Company’s ability to integrate ENQUANTUM within EZRA International Group and execute its broader strategic platform investment strategy; and the expected strategic, operational, and financial benefits of the Company’s investment in ENQUANTUM.
These statements are based on management’s current beliefs, assumptions, and expectations and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Actual results, performance, or achievements may differ materially from those expressed or implied by any forward-looking statement. Factors that could cause or contribute to such differences include, but are not limited to: the early-stage and laboratory nature of validation described herein, which may not be indicative of commercial viability, scalability, interoperability, or future performance in production environments or at commercial scale; the risk that ENQUANTUM’s technologies fail to achieve the technical performance metrics, or fail to gain broad market adoption; uncertainty regarding the timing, pace, and scope of enterprise, governmental, and infrastructure-operator adoption of post-quantum cybersecurity solutions; the risk that the post-quantum cybersecurity market does not develop in the size, timing, or manner anticipated; the risk that the U.S. Department of Commerce letters of intent referenced herein do not result in definitive funding awards, do not benefit ENQUANTUM directly or indirectly, or are delayed, reduced, or withdrawn; intense competition in the cryptography, cybersecurity, and advanced networking sectors from established, better-capitalized, and government-backed competitors; risks associated with international operations, including geopolitical, regulatory, export control, and sanctions developments in Israel and other jurisdictions in which ENQUANTUM operates; the Company’s status as a minority investor in ENQUANTUM and limited ability to direct ENQUANTUM’s strategy, operations, or capital allocation; the Company’s ability to successfully execute on its strategic platform investment initiative through EZRA International Group; dependence on key technology development milestones, third-party platforms and third-party partners; the Company’s continued compliance with Nasdaq listing requirements; general economic, market, and capital markets conditions; and other risks described from time to time in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.
Such risks and uncertainties also include geopolitical risks, including the ongoing conflict involving Israel and Iran, which may result in regional instability, military activity, cyberattacks, disruptions to critical infrastructure, supply chains or communications networks, or workforce disruptions, any of which could materially adversely affect ENQUANTUM’s operations, partners, personnel, or development activities, or the Company’s investment in ENQUANTUM.
Actual results may differ materially from those expressed or implied by these forward-looking statements. Additional information regarding factors that may cause actual results to differ materially is included under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and in the Company’s subsequent periodic reports and other filings with the Securities and Exchange Commission.
The Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date of this press release. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Israel Innovation Authority Approves Project Following Successful Real-World Construction Pilot Under EZRA International Group’s Scale51 Initiative
LAKEWOOD, NJ, May 18, 2026 (GLOBE NEWSWIRE) — Reliance Global Group, Inc. (Nasdaq: EZRA) (“we,” “us,” “our,” the “Company” or “Reliance”) today announced that Enquantum Ltd. (“Enquantum”), a developer of advanced networking and post-quantum cybersecurity technologies and a strategic platform investment under EZRA International Group’s Scale51 initiative, successfully completed a real-world private 5G deployment with a leading Israeli construction company. The deployment demonstrated advanced worker safety, real-time operational monitoring, and intelligent site management capabilities in active construction environments. As part of the pilot program, construction workers utilized 5G-connected smart helmets equipped with real-time geolocation and geofencing functionality, enabling live workforce visibility, automated safety zone enforcement, and improved on-site coordination and operational awareness.
Following the successful execution of the project, the initiative received approval from the Israel Innovation Authority (“IIA”), which officially closed the program following successful implementation and validation of the private 5G application deployment, reinforcing the commercial potential of Enquantum’s advanced networking technologies for industrial and infrastructure applications.
The successful deployment was powered by Enquantum’s FPGA-accelerated User Plane Function (“UPF”) technology with advanced CPU offloading capabilities, enabling secure, high-performance private cellular networking with successful over-the-air validation. The architecture is designed to improve network efficiency, reduce latency, and support reliable real-time communications in demanding industrial environments where continuous connectivity, mobility, and operational visibility are critical. Reliance believes these capabilities position Enquantum to support next-generation private wireless applications across industrial, infrastructure, and smart mobility markets.
“We are extremely excited by this successful deployment and the continued progress Enquantum is making in advanced networking and infrastructure technologies,” said Ezra Beyman, Chairman and Chief Executive Officer of Reliance Global Group. “Demonstrating a real-world private 5G application focused on worker safety and operational intelligence represents an important milestone for the company. We believe the successful pilot and support from the Israel Innovation Authority reinforce the growing commercial potential for Enquantum’s technologies across industrial, infrastructure, and smart connectivity markets.”
Reliance believes demand for secure private 5G infrastructure and intelligent connected-device applications is expected to continue growing across construction, manufacturing, logistics, transportation, defense, and public-sector environments as organizations seek greater automation, operational visibility, and real-time communications capabilities. Enquantum continues advancing its broader portfolio of high-performance networking, encrypted communications, and post-quantum cybersecurity technologies designed for next-generation infrastructure environments.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: EZRA) is an InsurTech pioneer leveraging artificial intelligence (AI) and cloud-based technologies to transform and improve efficiencies in the insurance agency and brokerage industry. The Company’s business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies with a full suite of business development tools, enabling them to compete effectively with large-scale national insurance agencies while reducing back-office costs and burden. The Company’s business-to-consumer platform, 5minuteinsure.com, uses AI and data mining to provide competitive online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance. In addition, the Company operates its own portfolio of select retail brick-and-mortar insurance agencies, which are leaders and pioneers in their respective regions throughout the United States and offer a wide variety of insurance products.
In addition to its insurance and Insurtech operations, Reliance operates EZRA International Group, its strategic growth platform focused on identifying, acquiring, and building majority or controlling stakes in high-growth technology and life sciences companies. EZRA International Group is designed to complement Reliance’s core insurance business by expanding market reach and supporting long-term shareholder value creation through disciplined capital allocation and active ownership.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as “believes,” “expects,” “anticipates,” “designed to,” “positioned to,” “continues,” “potential,” “opportunity,” and similar expressions, or by discussions of strategy, plans, or intentions. Forward-looking statements in this release include, without limitation, statements regarding: the commercial potential of Enquantum’s private 5G, advanced networking, and post-quantum cybersecurity technologies for industrial, infrastructure, and smart mobility markets; the anticipated performance, efficiency, and latency characteristics of Enquantum’s FPGA-accelerated User Plane Function technology; the expected growth in demand for secure private 5G infrastructure and intelligent connected-device applications across construction, manufacturing, logistics, transportation, defense, and public-sector markets; Enquantum’s ability to successfully advance and commercialize its broader portfolio of high-performance networking, encrypted communications, and post-quantum cybersecurity technologies; and the anticipated benefits and scalability of the private 5G deployment demonstrated during the pilot program.
These statements are based on management’s current beliefs, assumptions, and expectations and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Actual results, performance, or achievements may differ materially from those expressed or implied by any forward-looking statement. Factors that could cause or contribute to such differences include, but are not limited to: the early-stage and limited nature of the pilot deployment, which may not be indicative of commercial viability, scalability, or future performance in other markets or environments; the risk that Enquantum’s technologies fail to achieve the technical performance metrics, latency improvements, or network efficiency gains anticipated by management; the risk that the closing of the Israel Innovation Authority program does not guarantee continued government support or future funding for Enquantum’s technology development; uncertainty regarding market adoption of private 5G infrastructure and post-quantum cybersecurity solutions; intense competition in the advanced networking, private wireless, and cybersecurity sectors from established and better-capitalized companies; risks associated with international operations, including geopolitical and regulatory developments in Israel and other target markets; the Company’s ability to successfully execute on its Scale51 strategic platform investment initiative; dependence on key technology development milestones and third-party partners; general economic and market conditions; and other risks described from time to time in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.
Such risks and uncertainties also include geopolitical risks, including the ongoing conflict involving Israel and Iran, which may result in regional instability, military activity, cyberattacks, disruptions to critical infrastructure, supply chains or communications networks, or workforce disruptions, any of which could materially adversely affect the Company’s investments, partners or operations, including Innervate’s development activities.
Actual results may differ materially from those expressed or implied by these forward-looking statements. Additional information regarding factors that may cause actual results to differ materially is included under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and in the Company’s subsequent periodic reports and other filings with the Securities and Exchange Commission.
The Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date of this press release. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
LAKEWOOD, NJ, May 14, 2026 (GLOBE NEWSWIRE) — Reliance Global Group, Inc. (Nasdaq: EZRA) (“Reliance”, “we” or the “Company”) today announced that the Company’s Board of Directors approved a 1-for-40 reverse stock split (the “Reverse Stock Split”) of the Company’s common stock (the “Common Stock”) in order to regain compliance with the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market (Rule 5550(a)(2)). The Company was not required to obtain shareholder approval to effectuate the Reverse Stock Split. The Company filed articles of amendment to the Company’s articles of restatement to the articles of incorporation with the Florida Department of State, Division of Corporations which is expected to become effective as of 5:00 p.m. Eastern Time on May 15, 2026. The Common Stock will begin trading on The Nasdaq Capital Market on a reverse split-adjusted basis at the start of trading on May 18, 2026, under the symbol “EZRA” and under a new CUSIP number, 75946W 504.
Ezra Beyman, CEO of Reliance, remarked, “Reliance is proud to be a Nasdaq listed company and we know the actions being taken are important to our investors as they will help ensure continued compliance with Nasdaq listing rules. We are highly optimistic about our future, remain steadfast in our commitment to our business strategy, and believe that the prospects for our Company are exceptionally promising.”
Upon implementation of the Reverse Stock Split, every 40 shares of the Company’s issued and outstanding Common Stock will automatically convert into one share of Common Stock without any change to the par value of $0.086 per share and the amount of Common Stock outstanding will be reduced from approximately 22,230,563 shares to approximately 555,764 shares. Following the Reverse Stock Split, the ownership percentage of each shareholder will remain unchanged. Proportional adjustments will be made to the number of shares of Common Stock issuable upon exercise of the Company’s outstanding stock options and warrants, and other incentive awards, as well as the applicable exercise price.
Information to Stockholders
VStock Transfer, LLC, the Company transfer agent, will send instructions to stockholders of record who hold stock certificates regarding the exchange of certificates for Common Stock. Stockholders who hold their shares of Common Stock in book-entry form or in brokerage accounts or “street name” are not required to take any action to effect the exchange of their shares of Common Stock following the Reverse Stock Split. VStock Transfer, LLC may be reached for questions at (212) 828-8436.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (Nasdaq: EZRA) is an InsurTech pioneer, leveraging artificial intelligence (AI) and cloud-based technologies to transform and improve efficiencies in the insurance agency/brokerage industry. The Company’s business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies with an entire suite of business development tools, enabling them to effectively compete with large-scale national insurance agencies while reducing back-office cost and burden. The Company’s business-to-consumer platform, 5minuteinsure.com, utilizes AI and data mining to provide competitive online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance. In addition, the Company operates its own portfolio of select retail insurance agencies offering a wide variety of insurance products.
In addition to its insurance and InsurTech operations, Reliance operates EZRA International Group, its strategic growth platform focused on identifying, acquiring, and building majority or controlling stakes in high-growth technology companies. EZRA International Group is designed to complement Reliance’s core insurance business by expanding market reach and supporting long-term stockholder value creation through disciplined capital allocation and active ownership.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by the use of words such as “may,” “should,” “could,” “will,” “expect,” “anticipate,” “intend,” “believe,” “estimate,” “seek,” “potential,” “target,” or similar expressions.
Forward-looking statements in this press release include statements regarding the timing and effectiveness of the Reverse Stock Split and the market effective date; the anticipated post-split trading price and the ability of the Reverse Stock Split to result in a sustained increase in the Company’s stock price to a level at or above $1.00 per share; the belief that the Reverse Stock Split will result in compliance with the minimum bid price requirement of Nasdaq Listing Rule 5550(a)(2) prior to the June 10, 2026 compliance deadline; expectations regarding post-split shares outstanding and the effect of fractional share rounding; and the ability to maintain compliance with all applicable Nasdaq continued listing standards.
These forward-looking statements are based on current expectations and assumptions subject to risks and uncertainties, many of which are beyond the Company’s control, including: the risk that the Reverse Stock Split does not result in a sustained increase in the Company’s stock price or that the stock price subsequently falls below $1.00, which could result in further Nasdaq non-compliance or delisting proceedings; the risk that the Reverse Stock Split causes the Company to fall out of compliance with another Nasdaq listing requirement, including minimum publicly held shares; restrictions under amended Nasdaq rules that limit the ability to effect additional reverse stock splits within a one-year period to regain minimum bid price compliance; volatility in the Company’s common stock; and general business, economic, and market conditions.
Actual results may differ materially from those expressed or implied by these forward-looking statements. Additional information regarding factors that may cause actual results to differ materially is included under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and in subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances after the date of this press release.
Company Expands Ownership-Driven Investment Model While Maintaining Insurance and InsurTech Operating Foundation
Company to Host Conference Call Today at 4:30 PM Eastern Time
LAKEWOOD, N.J., May 07, 2026 (GLOBE NEWSWIRE) — Reliance Global Group, Inc. (Nasdaq: EZRA) (“we,” “us,” “our,” the “Company” or “Reliance”) today reported financial results for the three months ended March 31, 2026, and provided an update on the continued execution of its Scale51 strategy through targeted investments in technology and life sciences platforms.
Key Highlights
Advanced Scale51 strategy through targeted investments in technology and life sciences platforms, including continued capital deployment into Enquantum and the formation of LifeSci Global.
Increased ownership in Enquantum to approximately 29% through additional milestone-based funding, advancing a structured pathway toward majority control.
Strengthened balance sheet with approximately $3.2 million in cash and restricted cash and approximately $2.6 million in working capital as of March 31, 2026.
Improved net loss to approximately $1.4 million for the first quarter of 2026, compared with approximately $1.7 million in the prior year period.
Continued optimization of insurance operations through cost discipline and increased utilization of InsurTech platforms, including ongoing development of RELI Exchange and the launch of RELI Exchange 2.0 to enhance scalability, recruiting capacity and operational efficiency.
“During the first quarter, we continued executing a clearly defined strategy centered on disciplined capital allocation and long-term value creation,” said Ezra Beyman, Chairman and Chief Executive Officer of Reliance. “We are focused on building a portfolio of businesses where we can take meaningful ownership positions and contribute operationally, rather than acting as a passive investor. This approach aligns capital deployment with execution and outcomes.”
“Through our Scale51 model, we are prioritizing opportunities where we believe we can drive both growth and structural value over time, particularly in cybersecurity, data-driven technologies and, more recently, life sciences through LifeSci Global. We are implementing a milestone-based capital deployment strategy, allowing us to scale investments as companies achieve defined operational and commercial progress, while maintaining financial discipline and improving efficiency across the organization.”
“Our insurance and InsurTech platforms remain an important operational foundation, providing stability and infrastructure as we expand into adjacent verticals. While revenue comparisons reflect the impact of our 2025 portfolio realignment initiatives, including the divestiture of certain non-core operations, we believe these actions have created a more streamlined and scalable operating base. During the quarter, we continued to optimize our insurance operations, improving efficiency and leveraging our technology platforms to enhance agent productivity and customer acquisition. We believe this dual-platform approach-combining an established operating base with targeted investments in high-growth sectors-positions us to build a more scalable and diversified business over time,” concluded Mr. Beyman.
Strategic Update
During the first quarter of 2026, Reliance continued executing its plan to build a diversified platform that combines its established insurance operations with targeted investments in high-growth technology and life sciences sectors.
A key component of this approach is EZRA International Group and the Company’s Scale51 operating model, which is designed to identify, invest in and scale innovation-driven businesses through structured pathways toward majority ownership and active operational involvement.
In parallel, the Company continued to operate and integrate its insurance and InsurTech platforms, maintaining a streamlined cost structure while supporting activity across its agency network. These operations, supported by digital platforms such as RELI Exchange and 5minuteinsure.com, continue to serve as a stable foundation for broader strategic initiatives.
During the quarter and subsequent period, the Company made measurable progress across multiple verticals. Reliance expanded its investment in Enquantum, a post-quantum cybersecurity platform focused on next-generation data protection technologies, increasing its ownership to approximately 29% following the achievement of defined technical and commercial milestones, and continues to advance toward potential majority control.
In addition, Reliance launched LifeSci Global Group, the BioTech arm of EZRA International Group focused on healthcare and life sciences investments, led by highly qualified BioTech professionals David Turner and Scott Korman. LifeSci Global marked its initial transaction with the completion of a strategic investment into Innervate Radiopharmaceuticals, a developer of positron emission tomography (PET) imaging and therapeutic radiopharmaceuticals focused initially on neuroblastoma and broader future applications in cardiovascular and neurodegenerative disease. We also continued to evaluate and support additional opportunities within its expanding pipeline.These initiatives broaden Reliance’s exposure to innovation-driven sectors, including cybersecurity, data analytics, and life sciences, while reflecting a disciplined, staged approach to capital deployment.
The Company’s investment model emphasizes milestone-based capital allocation, enabling it to scale commitments based on operational progress and defined performance criteria. This approach enhances risk management, preserves flexibility in capital allocation, and supports the continued rollout of its Scale51 strategy, with a focus on building a diversified portfolio of scalable platforms over the long term.
Financial Highlights
The following summarizes select consolidated financial results for the three months ended March 31, 2026:
Unrestricted cash increased by approximately $1.0 million, or 73%, to approximately $2.3 million as of March 31, 2026, compared with approximately $1.3 million as of December 31, 2025.
Working capital increased by approximately $0.7 million, or 39%, to approximately $2.6 million as of March 31, 2026, compared with approximately $1.9 million as of December 31, 2025.
Stockholders’ equity increased by approximately $1.0 million, or 16%, to approximately $7.4 million, compared with $6.4 million as of December 31, 2025.
Commission income was approximately $3.8 million, compared with approximately $4.2 million for the same period in 2025. The decrease primarily reflects the Company’s portfolio realignment initiatives undertaken during 2025, including the divestiture of certain non-core operations, including Fortman Insurance Services (FIS), Employee Benefits Solutions (EBS), and U.S. Benefits Alliance (USBA), which reduced commission revenue from those operations. The decline was partially offset by approximately 11% organic revenue growth from the Company’s retained businesses.
Commission expense was approximately $1.6 million, compared with approximately $1.5 million for the same period in 2025. The increase primarily reflects higher commission rates driven by general market conditions, as well as increased commission expense associated with approximately 11% organic revenue growth from the Company’s retained businesses.
Salaries and wages were approximately $1.6 million, compared with approximately $2.2 million for the same period in 2025. The decrease was primarily attributable to lower non-cash share-based compensation expense, as well as reduced personnel costs following the divestiture of those certain non-core operations during 2025.
General and administrative expenses were approximately $1.4 million, compared with approximately $1.5 million for the same period in 2025. The decrease primarily reflects continued cost optimization efforts and lower non-cash equity compensation expense.
Net loss improved to $1.4 million, compared with approximately $1.7 million for the same period in 2025. The improvement was primarily attributable to lower operating expenses and reduced interest expense.
Adjusted EBITDA (“AEBITDA”), a non-GAAP financial measure, was approximately $(0.4) million, compared with positive AEBITDA of approximately $0.1 million for the same period in 2025. The decrease was primarily attributable to significantly lower non-cash equity compensation add-backs in 2026 compared to the prior-year period, partially offset by improved operating performance, including lower salaries and wages and reduced general and administrative expenses.
The following summarizes net loss for the three months ended March 31, 2026, from our Strategic Ventures Segment:
Strategic Ventures net loss was approximately $0.4 million, primarily reflecting legal, diligence, advisory, and other costs associated with the launch and development of the Company’s EZRA International Group and Scale51 platform, as well as equity method investment losses related to Enquantum.
The following summarizes net income for the three months ended March 31, 2026, from our Insurance Segment:
Insurance Segment net income improved to approximately $0.7 million for the three months ended March 31, 2026, compared with approximately $0.5 million for the same period in 2025. The improvement was driven by lower operating expenses, continued operational efficiencies from the Company’s OneFirm initiative, and approximately 11% year-over-year revenue growth from the Company’s retained businesses.
Conference Call
Reliance Global Group will host a conference call Thursday May 7, 2026, at 4:30 PM Eastern Time to discuss financial results and provide a business update.
A webcast replay will be available on the investor relations section of the Company’s website through May 7, 2027. A telephone replay will be available approximately one hour following the call through May 21, 2026, and can be accessed by dialing +1 877-481-4010 for U.S. callers or +1 919-882-2331 for international callers and entering access code 53992.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: EZRA) is an InsurTech pioneer, leveraging artificial intelligence (AI), and cloud-based technologies, to transform and improve efficiencies in the insurance agency/brokerage industry. The Company’s business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies an entire suite of business development tools, enabling them to effectively compete with large-scale national insurance agencies, whilst reducing back-office cost and burden. The Company’s business-to-consumer platform, 5minuteinsure.com, utilizes AI and data mining, to provide competitive online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance. In addition, the Company operates its own portfolio of select retail “brick and mortar” insurance agencies which are leaders and pioneers in their respective regions throughout the United States, offering a wide variety of insurance products.
In addition to its insurance and Insurtech operations, Reliance operates EZRA International Group, its strategic growth platform focused on identifying, acquiring, and building majority or controlling stakes in high-growth technology companies. EZRA International Group is designed to complement Reliance’s core insurance business by expanding market reach and supporting long-term shareholder value creation through disciplined capital allocation and active ownership.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are statements other than statements of historical fact and may be identified by the use of words or expressions such as “may,” “should,” “could,” “would,” “will,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “continue,” “seek,” “potential,” “target,” “project,” “forecast,” “outlook,” or similar expressions, or by discussions of strategy, plans, or intentions.
Forward-looking statements in this press release include, without limitation, statements regarding: the Company’s strategic plans, including its Scale51 strategy and the activities of EZRA International Group and LifeSci Global Group; the Company’s ability to identify, invest in, integrate, scale, and obtain controlling interests in technology and life sciences businesses, including the timing and likelihood thereof; the Company’s investment in Enquantum Ltd., the satisfaction of milestones under the related share purchase agreement, the Company’s ability to acquire a majority or controlling interest in Enquantum, and the development, commercialization, and market adoption of Enquantum’s post-quantum cybersecurity technologies; the Company’s investment in Innervate Radiopharmaceuticals LLC and the development and potential commercialization of Innervate’s positron emission tomography imaging and therapeutic radiopharmaceutical product candidates, including for the treatment of neuroblastoma and potential future applications; the future operations and prospects of LifeSci Global Group LLC and any future investments to be made through that platform; the Company’s intention and ability to effect a 1-for-40 reverse stock split, the timing of effectiveness, and the Company’s ability to regain and maintain compliance with the minimum bid price requirement and other continued listing standards of The Nasdaq Capital Market; the Company’s ability to continue executing on its insurance and InsurTech operations, including the development and rollout of RELI Exchange 2.0 and the anticipated benefits of the Company’s OneFirm initiative and 2025 portfolio realignment; the Company’s expectations regarding revenue growth from retained businesses, cost optimization, operating efficiencies, and trends in non-cash equity-based compensation; the Company’s liquidity, working capital, capital allocation priorities, and ability to fund existing and future investment commitments, including remaining tranches under the Enquantum share purchase agreement and additional commitments to LifeSci Global Group LLC; the Company’s broader business strategy and growth outlook; and any other statements regarding future events, plans, or expectations.
These forward-looking statements are based on management’s current expectations and assumptions and are subject to risks, uncertainties, and other factors, many of which are beyond the Company’s control, that could cause actual results to differ materially from those expressed or implied. Such risks and uncertainties include, without limitation: the highly speculative nature of, and substantial risk of loss associated with, investments in early-stage technology and life sciences companies, including Enquantum and Innervate; the development, regulatory, manufacturing, intellectual property, supply chain, reimbursement, and commercialization risks specific to radiopharmaceutical and post-quantum cryptography product candidates; the Company’s ability to satisfy the conditions to remaining tranches under the Enquantum share purchase agreement and to acquire a controlling interest on the contemplated timeline or at all; the Company’s ability to identify and complete suitable additional investments through Scale51, EZRA International Group, and LifeSci Global Group, and the risk that anticipated strategic, operational, or financial benefits of these initiatives may not be realized within expected timeframes or at all; conflicts of interest associated with the Company’s life sciences investment platform, including the ownership of LifeSci Global Group LLC by certain members of the Company’s management and board of directors and the role of one of the Company’s directors as chief executive officer of Innervate; the Company’s ability to maintain compliance with the continued listing standards of The Nasdaq Capital Market, including the minimum bid price requirement, by the applicable compliance deadline of June 10, 2026, and the risk that the reverse stock split may not achieve its intended effect or may need to be supplemented by additional measures; risks related to changes in the composition of the Company’s board of directors and committees, including the impact of any change in the independence of the Company’s directors on the Company’s compliance with Nasdaq listing standards; cross-border legal, regulatory, geopolitical, tax, and currency risks associated with the Company’s investment in an Israeli company and any future international investments; risks associated with the Company’s digital asset treasury strategy and the volatility, custody, and regulatory treatment of digital assets; the Company’s ability to access additional capital on acceptable terms, or at all, including under its existing at-the-market offering program and equity line of credit, both of which are conditioned on continued Nasdaq listing; the Company’s ability to maintain and grow revenue from its retained insurance and InsurTech operations following the divestiture of Fortman Insurance Services, Employee Benefits Solutions, and U.S. Benefits Alliance; competition, regulatory developments, and other risks affecting the insurance brokerage and InsurTech industries; risks related to litigation, settlements, and legal proceedings, including the matters described in the Company’s filings with the Securities and Exchange Commission; and general business, economic, market, interest rate, and geopolitical conditions.
Actual results may differ materially from those expressed or implied by these forward-looking statements. Additional information regarding factors that may cause actual results to differ materially is included under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as amended, and in the Company’s subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission, copies of which are available free of charge through the Securities and Exchange Commission’s website at www.sec.gov. The forward-looking statements in this press release speak only as of the date of this press release. Except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances, or otherwise.
The financial information presented in this press release is preliminary, unaudited, and subject to the completion of the Company’s customary review and reporting processes. Such financial information has been prepared by, and is the responsibility of, the Company’s management and reflects estimates based on information available to management as of the date of this press release. Although the Company believes the financial information presented in this press release fairly reflects the Company’s results of operations and financial condition for the periods presented, this information should not be regarded as a representation by the Company, its management, or its independent registered public accounting firm as to the actual results that will be reflected in the Company’s Quarterly Report on Form 10-Q for the three months ended March 31, 2026, when filed. This information should be read in conjunction with the Company’s audited consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as amended. The Company’s independent registered public accounting firm has not audited, reviewed, compiled, or performed any procedures with respect to the financial information presented herein and does not express an opinion or any other form of assurance with respect to such information.
INFORMATION REGARDING A NON-GAAP FINANCIAL MEASURE
The Company believes certain financial measures which meet the definition of non-GAAP financial measures, as defined in Regulation G of the SEC rules, provide important supplemental information. Adjusted EBITDA (“AEBITDA”), our key financial performance metric, is a non-GAAP financial measure that is not in accordance with, or an alternative to, measures prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”). The most directly comparable GAAP financial measure to AEBITDA is net loss. “AEBITDA” is defined as earnings before interest, taxes, depreciation, and amortization (EBITDA) with additional adjustments as further outlined below. The Company considers AEBITDA an important financial metric because it provides a meaningful financial measure of the quality of the Company’s operational, cash impacted and recurring earnings and operating performance across reporting periods. Other companies may calculate Adjusted EBITDA differently than we do, which might limit its usefulness as a comparative measure to other companies in the industry. AEBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of the Company’s results as reported under GAAP. Among other limitations, AEBITDA does not reflect cash expenditures, future requirements for capital expenditures, or contractual commitments; does not reflect changes in, or cash requirements for, working capital needs; does not reflect interest expense or the cash requirements necessary to service interest or principal payments on the Company’s debt; does not reflect tax payments that may represent a reduction in cash available to the Company; and excludes equity-based compensation expense, which has been, and will continue to be for the foreseeable future, a recurring expense in the Company’s business. AEBITDA is used by management in addition to and in conjunction (and not as a substitute) with the results presented in accordance with GAAP. Management uses AEBITDA to evaluate the Company’s operational performance, including earnings across reporting periods and the merits for implementing cost-cutting measures. We have presented AEBITDA solely as supplemental disclosure because we believe it allows for a more complete analysis of results of operations and assists investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. Consistent with Regulation G, a description of such information is provided below herein and tabular reconciliations of this supplemental non-GAAP financial information to our most comparable GAAP information are contained in our Quarterly Report on Form 10-Q under “Results of Operations”.
We exclude the following items when calculating AEBITDA, and the following items define our non-GAAP financial measure AEBITDA:
Interest and related party interest expense: Unrelated to core Company operations and excluded to provide more meaningful supplemental information regarding the Company’s core operational performance.
Depreciation and amortization: Non-cash charge, excluded to provide more meaningful supplemental information regarding the Company’s core operational performance.
Goodwill and/or asset impairments: Non-cash charge, excluded to provide more meaningful supplemental information regarding the Company’s core operational performance.
Equity-based compensation: Non-cash compensation provided to employees and service providers, (including period amortization cost of service provider prepaid expenses that were prepaid with stock) excluded to provide more meaningful supplemental information regarding the Company’s core cash impacted operational performance.
Change in estimated acquisition earn-out payables: An earn-out liability is a liability to the seller upon an acquisition which is contingent on future earnings. These liabilities are valued at each reporting period and the changes are reported as either a gain or loss in the change in estimated acquisition earn-out payables account in the consolidated statements of operations. The gain or loss is non-cash, can be highly volatile and overall is not deemed relevant to ongoing operations, thus, it’s excluded to provide more meaningful supplemental information regarding the Company’s core operational performance.
Other income (expense), net: Includes certain non-routine income or expenses and other individually de minimis items and is thus excluded as unrelated to core operations of the company.
Gain (Loss) from Equity Method Investment: Includes certain gains and losses on equity method investments that are non-operating and non-cash, and thus excluded to provide more meaningful supplemental information regarding the Company’s core operational performance.
Unrealized gains (losses) on digital assets, net: This account includes unrealized gains and losses from digital assets and is thus excluded as unrelated to core operations of the company.
Transactional costs: This includes expenses related to mergers, acquisitions, financings and refinancings, and amendments or modification to indebtedness. These costs are excluded because management does not consider them indicative of period-to-period operating performance.
Non-standard costs: This account includes discrete, specifically identifiable non-operational items, related to costs incurred for a legal proceeding the Company has filed against one of the third parties involved in previously discontinued operations and was excluded to provide more meaningful supplemental information regarding the Company’s core operational performance.
The following table provides a reconciliation from consolidated net loss to consolidated AEBITDA for the three months ended March 31, 2026 and March 31, 2025.
Three Months Ended
March 31, 2026
March 31, 2025
Net income (loss)
(1,471,167
)
(1,736,882
)
Adjustments:
Interest and related party interest expense
126,386
325,242
Depreciation and amortization
304,443
360,595
Equity based compensation employees directors and third parties
Lakewood, NJ, May 06, 2026 (GLOBE NEWSWIRE) — Reliance Global Group, Inc. (NASDAQ: EZRA) (“Reliance” or the “Company”), announced today that it will host a conference call Thursday, May 7, 2026, at 4:30 PM Eastern Time to discuss financial results for the first quarter 2026 and provide a business update.
A webcast replay will be available on the investor relations section of the Company’s website at https://relianceglobalgroup.com/events-and-presentations/ through May 7, 2027. A telephone replay of the call will be available approximately one hour following the call, through May 21, 2026, and can be accessed by dialing +1 877-481-4010 for U.S. callers or +1 919-882-2331 for international callers and entering access code 53992.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: EZRA) is an InsurTech pioneer, leveraging artificial intelligence (AI), and cloud-based technologies, to transform and improve efficiencies in the insurance agency/brokerage industry. The Company’s business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies an entire suite of business development tools, enabling them to effectively compete with large-scale national insurance agencies, whilst reducing back-office cost and burden. The Company’s business-to-consumer platform, 5minuteinsure.com, utilizes AI and data mining, to provide competitive online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance. In addition, the Company operates its own portfolio of select retail “brick and mortar” insurance agencies which are leaders and pioneers in their respective regions throughout the United States, offering a wide variety of insurance products.
In addition to its insurance and Insurtech operations, Reliance operates EZRA International Group, its strategic growth platform focused on identifying, acquiring, and building majority or controlling stakes in high-growth technology companies. EZRA International Group is designed to complement Reliance’s core insurance business by expanding market reach and supporting long-term shareholder value creation through disciplined capital allocation and active ownership.
LifeSci Global Launches as Reliance’s Life Sciences Platform, Partnering with Scott Korman and David Turner as Its Founding Operator-Partners to Build, Lead and Grow the Platform
Korman and Turner Bring Complementary Decades of Private Equity, Capital Markets, Healthcare and Company-Building Expertise to Anchor the Platform; Innervate Provides Exposure to Estimated $250 Million Neuroblastoma Opportunity, Potential Expansion Opportunities in Additional Disease Areas and Priority Review Voucher Upside
LAKEWOOD, N.J., May 05, 2026 (GLOBE NEWSWIRE) — Reliance Global Group, Inc. (Nasdaq: EZRA) (“we,” “us,” “our,” the “Company” or “Reliance”) today announced the formal launch of LifeSci Global Group LLC (“LifeSci Global”), its dedicated life sciences and biotechnology platform, co-founded alongside Scott Korman and David Turner, who will serve as the platform’s founding operator-partners and lead all aspects of its build-out and growth. LifeSci Global is a subsidiary of EZRA International Group, Reliance’s strategic growth platform focused on building and investing in high-growth technology and life sciences companies. In connection with this launch, Reliance is also announcing Innervate Radiopharmaceuticals as LifeSci Global’s first platform investment.
The launch of LifeSci Global reflects Reliance’s studio model: rather than making passive investments, Reliance identifies compelling verticals, launches a dedicated platform, and partners with exceptional proven operators who possess the domain expertise to build great companies from the ground up. Scott Korman and David Turner are those operators for the life sciences vertical. They bring complementary capabilities spanning private equity, capital markets, healthcare strategy and company formation, and will be responsible for identifying, building and managing companies within LifeSci Global – beginning with Innervate Radiopharmaceuticals.
LifeSci Global was co-founded in connection with strategic investment in Innervate Radiopharmaceuticals, a developer of positron emission tomography (PET) imaging and a therapeutic focused initially on neuroblastoma and broader future applications in cardiovascular and neurodegenerative diseases. As the platform’s first investment, Innervate exemplifies the type of company LifeSci Global was built to identify and advance: differentiated science, a significant unmet medical need, and a clear path toward development and commercial milestones. Mr. Korman currently serves as Chief Executive Officer of Innervate and as a member of Reliance Global Group’s Board of Directors, ensuring direct continuity between the Company’s governance, LifeSci Global’s strategic mandate and the execution of the platform’s first investment. Mr. Turner serves as Chief Operating Officer of Innervate Radiopharmaceuticals, where he is the driver behind the company’s radiopharmaceutical development program, ensuring that LifeSci Global’s platform expertise is directly embedded in the execution of its first investment.
Reliance believes that the selection of Mr. Korman and Mr. Turner as LifeSci Global’s founding operator-partners is the central strategic decision underlying the platform’s launch. Under Reliance’s studio model, platforms succeed by anchoring each vertical with operators who have the proven track records, industry relationships and judgment to build and scale companies from the ground up. LifeSci Global is designed with that principle at its core – and Messrs. Korman and Turner are its embodiment. Together, they will be responsible for sourcing and building LifeSci Global’s portfolio, supporting each company through its development lifecycle, and deploying their combined expertise across private equity, capital markets, healthcare strategy and operational execution to drive long-term value creation.
“The launch of LifeSci Global is a significant milestone for Reliance and EZRA International Group,” said Ezra Beyman, Chairman and Chief Executive Officer of Reliance Global Group. “We built this platform around a simple conviction: the right operators make all the difference. Scott and David are proven, deeply experienced practitioners who will roll up their sleeves and build companies. That is the LifeSci Global model, and we believe it is a differentiated approach to value creation in life sciences.”
Mr. Korman brings more than four decades of experience as a private equity principal, entrepreneur and operator, and is central to LifeSci Global’s strategy as its founding operator-partner. Over the course of his career, he has led acquisitions, corporate turnarounds and growth-stage businesses across a range of industries, raised significant capital, and served in executive and board roles across both public and private companies. His experience spans the full lifecycle of company development, from early-stage investment and strategic planning through scaling, operational execution and corporate governance. Critically, Mr. Korman is an active builder. His current role as Chief Executive Officer of Innervate Radiopharmaceuticals demonstrates his hands-on approach and his ability to lead a company through late-stage development with the rigor and conviction required to reach commercialization. His simultaneous role on Reliance’s Board of Directors ensures that LifeSci Global’s strategy is directly connected to Reliance’s governance and capital allocation framework.
Mr. Turner brings more than 25 years of experience in global capital markets and is the second pillar of LifeSci Global’s operator-partner model. His career includes senior roles at JPMorgan, Lehman Brothers and Macquarie Bank – institutions synonymous with sophisticated capital formation and cross-border advisory at the highest levels. Throughout his career, he has advised institutional investors and companies on capital formation, cross-border strategy and market positioning, with particular depth across healthcare and life sciences. His experience across the United States, Asia and Israel gives LifeSci Global a global perspective as the platform sources and evaluates emerging biotechnology, diagnostics and life sciences opportunities. Mr. Turner’s ability to structure and access capital across markets is expected to be a meaningful advantage as LifeSci Global advances portfolio companies through development, financing and strategic inflection points.
Together, Mr. Korman and Mr. Turner represent a purpose-built partnership for the life sciences vertical. Their complementary backgrounds – Mr. Korman’s decades of operational and entrepreneurial experience and Mr. Turner’s global capital markets expertise with a healthcare focus – are designed to give LifeSci Global the capability to identify high-potential companies, build them from the ground up, structure disciplined transactions and support portfolio companies through the full arc of development, regulatory, financing and commercialization milestones. As founding operator-partners, they will be actively engaged at every stage of LifeSci Global’s portfolio as active builders, and not simply as advisors.
“In life sciences, the quality of the team is the platform,” said Moshe Fishman, Senior Vice President of Strategic Ventures at Reliance Global Group. “Scott’s track record as an operator and entrepreneur across four decades, combined with David’s exceptional capital markets network and healthcare expertise built at JPMorgan, Lehman Brothers and Macquarie, gives LifeSci Global a foundation that we believe is strong and well-positioned. They are here to build companies, and we believe that hands-on approach is the right one for this platform.”
With LifeSci Global now launched and anchored by Scott Korman and David Turner, the platform is actively evaluating additional life sciences and biotechnology opportunities. LifeSci Global’s first platform investment, Innervate Radiopharmaceuticals, provides Reliance with exposure to a late-stage radiopharmaceutical platform targeting a serious unmet need in pediatric oncology. Innervate’s lead asset, 18F-mFBG, is being developed as a next-generation PET imaging agent for neuroblastoma, with potential future applications in cardiovascular and neurodegenerative diseases. Reliance believes Innervate’s initial neuroblastoma indication represents an estimated market opportunity of approximately $250 million The Company also believes Innervate may have potential additional significant expansion opportunities [based on [source/Company internal estimates]] in cardiovascular and neurodegenerative disease, as well as potential Priority Review Voucher upside if regulatory approval is ultimately obtained and a voucher is awarded. Under the stewardship of Mr. Korman as Chief Executive Officer, Innervate represents the first example of LifeSci Global’s operator-led model in action.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: EZRA) is an InsurTech pioneer leveraging artificial intelligence (AI) and cloud-based technologies to transform and improve efficiencies in the insurance agency and brokerage industry. The Company’s business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies with a full suite of business development tools, enabling them to compete effectively with large-scale national insurance agencies while reducing back-office costs and burden. The Company’s business-to-consumer platform, 5minuteinsure.com, uses AI and data mining to provide competitive online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance. In addition, the Company operates its own portfolio of select retail brick-and-mortar insurance agencies, which are leaders and pioneers in their respective regions throughout the United States and offer a wide variety of insurance products.
In addition to its insurance and Insurtech operations, Reliance operates EZRA International Group, its strategic growth platform focused on identifying, acquiring, and building majority or controlling stakes in high-growth technology and life sciences companies. EZRA International Group is designed to complement Reliance’s core insurance business by expanding market reach and supporting long-term shareholder value creation through disciplined capital allocation and active ownership.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this press release include, without limitation, statements regarding: the launch of LifeSci Global Group LLC and its strategy, structure and operator-partner model; the roles, responsibilities and expected contributions of Scott Korman and David Turner as founding operator-partners of LifeSci Global; the Company’s investment in Innervate Radiopharmaceuticals and the expected benefits thereof; the development, regulatory pathway, clinical progress and commercialization potential of Innervate’s product candidates, including 18F-mFBG, for neuroblastoma and potential future indications in cardiovascular and neurodegenerative diseases; the potential for Innervate to receive a Rare Pediatric Disease Priority Review Voucher and the potential value thereof; the estimated size of the neuroblastoma market opportunity and the potential for expansion into cardiovascular and neurodegenerative disease markets; the Company’s studio model and its ability to identify, launch and build life sciences platforms through EZRA International Group; and the expected long-term value creation from LifeSci Global’s portfolio.
These forward-looking statements are based on management’s current expectations, assumptions and beliefs as of the date of this press release and are subject to known and unknown risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those expressed or implied. Such risks and uncertainties include, without limitation: the risk that LifeSci Global does not successfully identify, build or grow portfolio companies; the risk that Scott Korman or David Turner are unable to devote sufficient time and attention to LifeSci Global or cease to be associated with the platform; risks related to the development, regulatory review, clinical testing, approval, commercialization and market adoption of Innervate’s product candidates, including the risk that 18F-mFBG does not receive regulatory approval or does not achieve commercial success; the risk that Innervate does not receive a Rare Pediatric Disease Priority Review Voucher or that any such voucher is not awarded or is not monetized for the amounts historically achieved by other holders of such vouchers; the risk that the estimated neuroblastoma, cardiovascular or neurodegenerative market opportunities do not materialize or are smaller than anticipated; the early-stage nature of Innervate’s development program and the substantial capital, time and regulatory requirements associated therewith; risks related to the dual role of Scott Korman as a member of the Company’s Board of Directors and as Chief Executive Officer of Innervate, including potential conflicts of interest; the Company’s ability to source, evaluate and execute additional life sciences investments through LifeSci Global; intellectual property, clinical, manufacturing, regulatory and data protection risks specific to the radiopharmaceutical and life sciences industries; the Company’s ability to access capital on acceptable terms or at all; and general economic, market and industry conditions.
Such risks and uncertainties also include geopolitical risks, including the ongoing conflict involving Israel and Iran, which may result in regional instability, military activity, cyberattacks, disruptions to critical infrastructure, supply chains or communications networks, or workforce disruptions, any of which could materially adversely affect the Company’s investments, partners or operations, including Innervate’s development activities.
Actual results may differ materially from those expressed or implied by these forward-looking statements. Additional information regarding factors that may cause actual results to differ materially is included under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and in the Company’s subsequent periodic reports and other filings with the Securities and Exchange Commission. Except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Transaction Expands EZRA International Group’s Biotech Division, LifeSci Global, Into Late-Stage Radiopharmaceutical Imaging
Initial Neuroblastoma Opportunity of Approximately $250 Million, with Additional Potential Billion-Dollar Expansion Markets and Priority Review Voucher Upside
LAKEWOOD, N.J., May 04, 2026 (GLOBE NEWSWIRE) — Reliance Global Group, Inc. (Nasdaq: EZRA) (“we,” “us,” “our,” the “Company” or “Reliance”) today announced that LifeSci Global Group LLC (“LifeSci Global”), the biotech arm of EZRA International Group, has completed a strategic investment in Innervate Radiopharmaceuticals, a developer of positron emission tomography (PET) imaging and therapeutic radiopharmaceuticals focused initially on neuroblastoma and broader future applications in cardiovascular and neurodegenerative disease. This investment reflects an initial capital deployment within a broader strategy to build exposure to high-growth healthcare platforms through disciplined, staged allocation over time.
The transaction gives Reliance entry into a late-stage radiopharmaceutical platform targeting a serious unmet need in pediatric oncology, with additional expansion opportunities in cardiovascular and neurodegenerative disease and the potential for a valuable Priority Review Voucher pathway. Reliance believes the investment represents a compelling opportunity to participate in a differentiated healthcare platform with meaningful near-term upside and substantially larger long-term expansion potential.
As part of the transaction, LifeSci Global is set to acquire 421,053 shares of Innervate Radiopharmaceuticals at $4.75 per share, for a total investment of approximately $2.0 million of which $500,000 was funded at closing. LifeSci Global also holds the unilateral right to accelerate funding.
Innervate’s lead asset, 18F-mFBG, is being developed as a next-generation PET imaging agent for neuroblastoma, a rare and serious pediatric cancer arising from neural crest cells, most commonly in young children. Compared with the current standard of care, 123I-mIBG SPECT imaging, Innervate’s 18F-mFBG PET imaging agent is designed to provide higher-resolution images, faster scan times and improved lesion identification, with the potential to enhance diagnostic confidence, support better-informed patient management and improve the overall patient experience. Innervate’s neuroblastoma program has involved leading institutions in pediatric oncology and nuclear imaging, including Memorial Sloan Kettering Cancer Center and the NANT network. Reliance believes this supports the platform’s strategic significance and clinical relevance.
“We believe this is exactly the type of transformative opportunity EZRA International Group was built to pursue,” said Ezra Beyman, Chairman and Chief Executive Officer of Reliance Global Group. “Innervate represents what we view as a compelling entry into one of the fastest growing and most strategically active segments in healthcare. It combines a differentiated late-stage oncology opportunity, a potentially significant Priority Review Voucher pathway, and what we believe may be a highly expandable platform with applications that extend well beyond the initial indication.”
Mr. Beyman continued, “For Reliance shareholders, we believe this transaction creates exposure to a differentiated late-stage healthcare platform with meaningful near-term upside and substantially larger long-term expansion potential. Neuroblastoma alone represents a meaningful initial opportunity, but what makes this especially compelling is the broader platform potential in cardiovascular and neurodegenerative disease markets that management believes could each exceed $1 billion. We believe this investment reflects the continued execution of our strategy to build long-term shareholder value through targeted ownership in high-upside technology and innovation-driven businesses.” This approach reflects the Company’s broader strategy of identifying differentiated platforms early and building exposure through disciplined capital allocation over time.
Innervate’s 18F-mFBG is intended to help identify areas in the body where cancer may be present by targeting the norepinephrine transporter (NET). Compared with the current standard of care, 123I-mIBG SPECT imaging, PET-based imaging has the potential to offer higher resolution, faster scan times, improved lesion detection, dramatically improved patient experience and greater diagnostic reliability.
Reliance believes Innervate offers a rare combination of a meaningful near-term oncology opportunity and substantially larger follow-on expansion paths. The neuroblastoma market alone represents an estimated annual global revenue opportunity of approximately $250 million, while future cardiovascular and neurodegenerative applications may each address markets exceeding $1 billion. More broadly, PET imaging and radiopharmaceuticals are among the fastest-growing segments in radiology, with annual U.S. sales exceeding $2 billion and global sales exceeding $5 billion, supported by growing clinical adoption, meaningful commercial demand, and robust M&A and strategic activity across the sector. There can be no assurance that Innervate’s products will receive regulatory approval or achieve commercial success, or that any of the market opportunities described herein will be realized. The investment is structured as a staged capital deployment over time, designed to provide continued exposure to the platform as development progresses.
Moshe Fishman, Senior Vice President of Strategic Ventures at Reliance Global Group, said, “We believe Innervate is a particularly attractive fit for EZRA’s biotech division because it combines differentiated science, late-stage positioning and significant strategic optionality. The lead neuroblastoma program addresses an area of urgent medical need, while the broader platform may open the door to substantially larger commercial opportunities over time. In our view, this is not simply an investment in a single asset. It is an investment in a platform that we believe may support multiple future value inflection points.”
Mr. Fishman added, “What stands out to us is the asymmetry of the opportunity. The initial neuroblastoma program appears meaningful on its own, but the additional upside from platform expansion, potential strategic interest and the possibility of a Priority Review Voucher, if ultimately awarded in connection with a future approval, could materially enhance the overall value proposition.”
Innervate has indicated that its lead neuroblastoma program includes a pivotal efficacy and safety study and is advancing toward regulatory submission-related activities. Reliance believes the program’s development timeline may present important future milestone opportunities, including potential clinical and regulatory inflection points. Innervate also anticipates the possibility of receiving a Rare Pediatric Disease Priority Review Voucher in connection with a future approval, which, if awarded, could represent an additional monetizable asset. There can be no assurance that any such voucher will be received or monetized. The Company expects continued progress across the coming quarters, with potential updates on clinical advancement and regulatory pathway activities.
The investment was made through LifeSci Global, a majority-owned subsidiary of the Company. The investment was reviewed and approved by the independent and disinterested members of the Company’s Board of Directors. Interested directors recused themselves from all Board and committee deliberations regarding the transaction.
Scott Korman, a member of the Company’s Board of Directors, serves as the Chief Executive Officer of Innervate and holds an equity interest in LifeSci Global. Ezra Beyman, the Company’s Chairman and Chief Executive Officer, also holds an equity interest in LifeSci Global.
Reliance believes this transaction further validates EZRA International Group’s broader strategy of identifying, acquiring and supporting ownership positions in innovative, high-growth businesses where disciplined capital allocation and active strategic involvement can unlock meaningful long-term shareholder value. With this investment, Reliance expands EZRA International Group into radiopharmaceuticals and advanced medical imaging, as part of its broader strategy of disciplined capital allocation across high-growth technology and life sciences platforms,
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: EZRA) is an InsurTech pioneer leveraging artificial intelligence (AI) and cloud-based technologies to transform and improve efficiencies in the insurance agency and brokerage industry. The Company’s business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies with a full suite of business development tools, enabling them to compete effectively with large-scale national insurance agencies while reducing back-office costs and burden. The Company’s business-to-consumer platform, 5minuteinsure.com, uses AI and data mining to provide competitive online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance. In addition, the Company operates its own portfolio of select retail brick-and-mortar insurance agencies, which are leaders and pioneers in their respective regions throughout the United States and offer a wide variety of insurance products.
In addition to its insurance and Insurtech operations, Reliance operates EZRA International Group, its strategic growth platform focused on identifying, acquiring, and building majority or controlling stakes in high-growth technology and life sciences companies. EZRA International Group is designed to complement Reliance’s core insurance business by expanding market reach and supporting long-term shareholder value creation through disciplined capital allocation and active ownership.
Forward-looking statements in this press release include, without limitation, statements regarding: the Company’s investment in Innervate Radiopharmaceuticals through LifeSci Global Group LLC; the development, regulatory pathway, clinical progress, commercialization and market potential of Innervate’s product candidates, including 18F-mFBG; the potential for Innervate to receive a Rare Pediatric Disease Priority Review Voucher and the potential value thereof; the estimated size and growth of the neuroblastoma, cardiovascular, neurodegenerative and broader radiopharmaceutical markets; the Company’s strategy of identifying, acquiring and supporting ownership positions in innovative, high-growth businesses through EZRA International Group; and the expected strategic, operational and financial benefits of the Company’s investments.
These forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, without limitation: risks related to the development, regulatory review, clinical testing, approval, commercialization and market adoption of Innervate’s product candidates, including the risk that Innervate’s products do not receive regulatory approval or do not achieve commercial success; the risk that Innervate does not receive a Rare Pediatric Disease Priority Review Voucher or that any such voucher is not monetized for the amounts historically achieved by other vouchers; the risk that the estimated market opportunities described herein do not materialize or are smaller than anticipated; integration, execution and scaling challenges associated with supporting an early-stage technology company; the risk that anticipated synergies or strategic benefits are not realized on expected timelines or at all; intellectual property, cybersecurity, regulatory and data protection risks; the Company’s ability to access capital on acceptable terms or at all; and general economic, market and interest rate conditions.
Such risks and uncertainties also include geopolitical risks, including the ongoing and evolving conflict involving Israel and Iran, which may result in regional instability, military activity, cyberattacks, disruptions to critical infrastructure, supply chains or communications networks or workforce disruptions. The extent, duration, and impact of such conditions remain uncertain and could materially adversely affect the Company’s investments and operations.
Actual results may differ materially from those expressed or implied by these forward-looking statements. Additional information regarding factors that may cause actual results to differ materially is included under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, when filed, and in the Company’s subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances after the date of this press release.
EZRA’s Scale51 Model Continues Advancing Path Toward Majority Control of Post-Quantum Cybersecurity Platform
LAKEWOOD, NJ, April 28, 2026 (GLOBE NEWSWIRE) — Reliance Global Group, Inc. (Nasdaq: EZRA) (“we,” “us,” “our,” the “Company” or “Reliance”) today announced it has increased its ownership in Enquantum Ltd. (“Enquantum”), a developer of next-generation post-quantum cryptographic solutions. Following Enquantum’s completion of defined technical and commercial milestones, the Company funded the next investment tranche, increasing its equity position in Enquantum to approximately 29%. Upon continued execution against the remaining milestone framework, Reliance expects to obtain a 51% fully diluted controlling interest in Enquantum pursuant to the Share Purchase Agreement, dated February 5, 2026, between the Company and Enquantum.
This investment reflects a structured approach to building controlling positions in high-impact technology platforms through measured execution.
“We are actively advancing what we believe to be a clearly defined strategy to build ownership in high-impact technology platforms through disciplined, milestone-based investment,” said Ezra Beyman, Chairman and Chief Executive Officer of Reliance Global Group. “Increasing our position in Enquantum reflects progress across both technical validation and commercial readiness and our conviction in its long-term potential. We are deploying capital in alignment with verified milestone achievement, while maintaining a structured pathway toward a 51% fully diluted controlling interest. We believe this approach allows us to scale our investment responsibly while supporting Enquantum’s continued advancement toward commercialization and broader market adoption.”
Reliance believes Enquantum is positioned within a significant and developing market opportunity as enterprises, infrastructure operators and public-sector organizations prepare for the transition to quantum-resilient security. As demand grows for post-quantum cryptographic solutions that can operate in high-throughput, performance-sensitive environments, the Company believes Enquantum is addressing an important need across regulated financial systems, cloud and AI infrastructure, telecommunications networks, defense environments and other critical digital systems.
Supporting this milestone, Enquantum continued advancing both its core technology platform and its commercial readiness including completion of a defined commercial readiness phase.
During the current funding cycle, the company successfully completed a defined commercial readiness phase, defined buyer-oriented latency performance targets for its alpha version and continued expanding the validation and marketing infrastructure needed to support future customer engagement.
Enquantum established initial latency targets for its alpha version, including 20 to 80 microseconds for Kyber768 key generation and verification and approximately one microsecond for AEAD processing latency. In practical terms, these targets are intended to show that Enquantum is designing for high-throughput infrastructure environments where predictable and measurable latency can be critical to adoption. These performance benchmarks are designed to align with real-world infrastructure requirements, supporting the transition from development to deployment.
Enquantum’s AEAD implementation has also advanced into laboratory testing, with full throughput and latency benchmarking expected to begin shortly. In parallel, the company is developing an in-house post-quantum cryptography test system intended to support ongoing validation while reducing reliance on costly third-party equipment.
At the same time, Enquantum is advancing its commercial efforts, including active engagement with prospective partners and potential design partners across multiple opportunities, while continuing to expand its broader pipeline and prepare for potential infrastructure deployments in priority markets.
“This milestone reflects continued progress in both our technical roadmap and the commercial readiness of our platform,” said Roman Vercetti, Chief Executive Officer of Enquantum. “We have continued refining our architecture, improving the validation environment around the product, and improved efficiency and scalability, and are progressing toward deployment in real-world infrastructure environments. With Reliance’s continued support, we are accelerating development and deepening our engagement with potential partners as demand for quantum-resilient solutions continues to grow.”
Moshe Fishman, Senior Vice President of Strategic Ventures at Reliance Global Group, added, “We are seeing tangible progress at the technology level, particularly around performance validation and deployment readiness, which are important to adoption in infrastructure markets. Increasing our ownership to 29% reflects our confidence in Enquantum’s trajectory and in our continued path toward majority control. We believe the transition to post-quantum encryption represents a significant long-term opportunity within the broader cybersecurity landscape.”
These discussions remain preliminary, and there can be no assurance that they will result in definitive agreements, or that any anticipated partnerships or deployments will occur on acceptable terms or at all.
Reliance views its investment in Enquantum as a key component of EZRA International Group’s broader strategy to identify and scale high-impact technology platforms through disciplined capital deployment, operational support and a defined path to control ownership. Reliance’s approach is focused on building control through execution, with each milestone serving as a validation point toward long-term value creation. This model allows the Company to scale its exposure while managing risk and maintaining alignment with shareholder value creation.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: EZRA) is an InsurTech pioneer leveraging artificial intelligence (AI) and cloud-based technologies to transform and improve efficiencies in the insurance agency and brokerage industry. The Company’s business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies with a full suite of business development tools, enabling them to compete effectively with large-scale national insurance agencies while reducing back-office costs and burden. The Company’s business-to-consumer platform, 5minuteinsure.com, uses AI and data mining to provide competitive online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance. In addition, the Company operates its own portfolio of select retail brick-and-mortar insurance agencies, which are leaders and pioneers in their respective regions throughout the United States and offer a wide variety of insurance products.
In addition to its insurance and Insurtech operations, Reliance operates EZRA International Group, its strategic growth platform focused on identifying, acquiring, and building majority or controlling stakes in high-growth technology companies. EZRA International Group is designed to complement Reliance’s core insurance business by expanding market reach and supporting long-term shareholder value creation through disciplined capital allocation and active ownership.
Forward-looking statements in this press release include, without limitation, statements regarding: the Company’s expected pathway to increase its ownership in Enquantum Ltd. (“Enquantum”) to a 51% fully diluted controlling interest pursuant to the Share Purchase Agreement, dated February 5, 2026, between the Company and Enquantum (the “Share Purchase Agreement”); the timing, funding and completion of future milestone-based tranche investments, including the Company’s ability to exercise acceleration rights; the Company’s anticipated ability to obtain additional governance rights, including board representation, upon achievement of specified milestones; the development, performance, scalability, validation and commercialization of Enquantum’s post-quantum cryptographic technology, including Enquantum’s alpha version, its AEAD implementation, its in-house post-quantum cryptography test system, and Enquantum’s ability to meet or achieve its stated latency performance targets, including targets of 20 to 80 microseconds for Kyber768 key generation and verification and approximately one microsecond for AEAD processing latency; Enquantum’s completion of defined technical and commercial milestones, including the commercial readiness phase referenced herein; the preliminary nature of Enquantum’s discussions with prospective partners and potential design partners, and whether any such discussions will result in definitive agreements on acceptable terms or at all; the timing and occurrence of any planned or potential infrastructure deployments by Enquantum in priority markets; the anticipated demand for, and timing of, migration to quantum-resilient encryption standards across regulated financial systems, cloud and AI infrastructure, telecommunications networks, defense environments and other critical digital systems; the size, growth and evolution of the post-quantum cybersecurity market; the Company’s ability to integrate Enquantum within EZRA International Group and execute its Scale51 model; and the expected strategic, operational and financial benefits of the investment.
These forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, without limitation: the risk that milestone conditions under the Share Purchase Agreement are not achieved or are delayed; the risk that the Company is unable to fund future tranche investments on anticipated terms or timelines; the risk that the Company does not ultimately obtain majority ownership or governance control of Enquantum; risks related to the development, validation, performance, latency benchmarking, regulatory acceptance, commercialization or market adoption of Enquantum’s post-quantum cryptographic technology, including the risk that Enquantum’s alpha version or AEAD implementation does not achieve targeted performance, throughput or latency benchmarks, or does not do so on anticipated timelines; the risk that Enquantum’s preliminary discussions with prospective partners or design partners do not result in definitive agreements on acceptable terms, or at all; the risk that any anticipated or planned infrastructure deployments do not occur as expected or are delayed or cancelled; the risk that post-quantum standards adoption or infrastructure migration occurs more slowly or differently than anticipated; integration, execution and scaling challenges associated with supporting an early-stage technology company; the risk that anticipated synergies or strategic benefits are not realized on expected timelines or at all; intellectual property, cybersecurity, regulatory and data protection risks; the Company’s ability to access capital on acceptable terms or at all; and general economic, market and interest rate conditions.
Such risks and uncertainties also include geopolitical risks, including the ongoing and evolving conflict involving Israel and Iran, which may result in regional instability, military activity, cyberattacks, disruptions to critical infrastructure, supply chains or communications networks, workforce disruptions, delays in development, testing or deployment activities, or limitations on Enquantum’s ability to operate in or access certain markets. Recent developments have included an escalation in state-sponsored and retaliatory cyber activity and attacks on infrastructure in the region, which could adversely impact technology companies operating in or connected to the region. The extent, duration, and impact of such conditions remain uncertain and could materially adversely affect Enquantum’s operations and the Company’s investment.
Actual results may differ materially from those expressed or implied by these forward-looking statements. Additional information regarding factors that may cause actual results to differ materially is included under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, when filed, and in the Company’s subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances after the date of this press release.
