LAKEWOOD, NJ, Sept. 17, 2025 — Reliance Global Group, Inc. (Nasdaq: RELI) (“Reliance”, “we” or the “Company”) today announced that it has completed its first digital asset purchase under its recently launched Digital Asset Treasury (“DAT”) initiative, acquiring Ethereum (ETH). The purchase represents the initial step in Reliance’s broader plan to build a diversified digital asset portfolio, with future investments expected to include leading cryptocurrencies such as Bitcoin, Ethereum and Solana.
The Company plans to fund these activities through a combination of cash reserves and other approved corporate financing tools. Reliance’s DAT initiative is structured to pursue long-term capital appreciation through blockchain-based participation.
As part of this strategy, Reliance has also formed a dedicated Crypto Advisory Board (“CAB”) to guide management and the Board of Directors in the oversight, risk management, and execution of digital asset initiatives. The CAB will provide expertise on treasury management, blockchain integration, and governance practices critical to the Company’s expansion into digital assets.
Ezra Beyman, Chairman and Chief Executive Officer of Reliance Global Group, stated, “This first Ethereum transaction is an important milestone for Reliance as we expand into digital assets. It demonstrates our commitment to ensuring that our operational systems – covering custody, governance, accounting, and compliance – are equipped to support this strategy on a larger scale. Reliance expects to continue purchasing Ethereum and other digital assets in measured increments, applying a disciplined approach to capital allocation as the treasury position develops over time.”
“Our entry into Ethereum underscores our conviction that blockchain technology is rapidly shaping the future of both finance and insurance. With the added oversight of our Crypto Advisory Board, we are confident this strategy provides shareholders with a forward-looking opportunity while maintaining our focus on responsible execution and risk management.”
Reliance has a longstanding history of leveraging artificial intelligence, data mining, and innovative distribution models to deliver competitive, technology-enabled insurance solutions through RELI Exchange and 5MinuteInsure.com. By applying similar innovation to the blockchain ecosystem, the Company seeks to pioneer the convergence of InsurTech and decentralized finance.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by terminology such as “may,” “should,” “could,” “would,” “will,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “continue,” “potential,” and similar expressions. Forward-looking statements in this press release include, without limitation, statements regarding:
Our expectation that building a diversified digital asset portfolio, beginning with Ethereum, may enhance our long-term treasury strategy and shareholder value;
Our belief that disciplined participation in blockchain-based markets can provide both capital appreciation and potential yield opportunities over time;
Our expectation that the formation of the Crypto Advisory Board will provide the expertise, oversight, and governance needed to execute our digital asset strategy responsibly;
Our belief that integrating blockchain capabilities with our existing AI-driven InsurTech platforms positions Reliance at the forefront of innovation in both insurance and decentralized finance; and
Other statements relating to our future financial performance, business strategy, technology developments, capital allocation, and operational execution.
These forward-looking statements are based on a number of assumptions, including that: (i) the Company is able to successfully implement its digital asset treasury strategy as approved by the Board; (ii) cryptocurrency and blockchain markets remain sufficiently stable to allow for execution of our strategy; (iii) regulatory and accounting frameworks evolve in a manner consistent with our ability to participate in digital asset markets; and (iv) no material adverse changes occur in market, economic, or regulatory conditions.
Actual results could differ materially from those anticipated due to a variety of risks and uncertainties, including: volatility or declines in cryptocurrency markets; challenges in executing and managing digital asset investments; regulatory or accounting changes that adversely impact digital asset holdings or blockchain-based initiatives; technological risks related to custody, cybersecurity, or blockchain integration; competitive pressures from InsurTech, blockchain, or digital asset market participants; and other factors described under “Risk Factors” in our Registration Statement on Form S-1, Annual Report on Form 10-K, and other filings with the Securities and Exchange Commission.
You are encouraged to carefully review our Annual Report on Form 10-K for the year ended December 31, 2024, as amended, as well as other SEC filings, for a more complete discussion of these and other risks and uncertainties. Except as required by law, Reliance Global Group Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Company to Leverage FinTech and AI Expertise to Explore Tokenized Insurance-Linked Assets
Plans Purchase of Up to $120 Million in Cryptocurrencies such as Bitcoin, Ethereum and Solana Investments
LAKEWOOD, NJ, Sept. 15, 2025 — Reliance Global Group, Inc. (Nasdaq: RELI) (“Reliance”, “we” or the “Company”) today announced its Board of Directors has approved its strategic expansion into the digital asset and blockchain sector. As part of this initiative, the Company plans to build a diversified portfolio comprising leading cryptocurrencies, such as Bitcoin, Ethereum, and Solana. In accordance with the Company’s new digital asset treasury strategy, the Company plans to purchase up to $60 million in digital assets in the first phase, followed by up to an additional $60 million, totaling an aggregate of up to $120 million, to be managed by the Company’s newly formed Crypto Advisory Board (“CAB”), and subject to market and other conditions.
This initiative builds on Reliance’s extensive experience at the intersection of insurance, fintech, and artificial intelligence, including the success of the Company’s proprietary RELI Exchange platform. RELI Exchange is a B2B InsurTech platform and agency partner network that combines the low barriers to entry of an agency network with state-of-the-art technology, built on the AI and data mining backbone of 5MinuteInsure.com.
Leveraging these proven AI-driven capabilities and the Company’s new digital-asset treasury strategy, Reliance is additionally exploring opportunities to tokenize insurance-linked assets in ways not previously accessible to institutional and other investors. The Company believes this innovation could open the door to a new investment class that has historically been unavailable, bringing greater transparency, liquidity, and efficiency to the insurance-linked marketplace.
In connection with the new strategy, the Board of Directors has approved the formation of a new Crypto Advisory Board (“CAB”). The CAB will manage, oversee and advise management and the Board of Directors on the ongoing development of the Company’s digital-asset treasury strategy and related digital asset initiatives.
Ezra Beyman, Chairman and CEO of Reliance Global Group, commented, “Reliance has always been committed to staying at the forefront of technology-driven innovation. Our planned entry into cryptocurrency and blockchain-based insurance-linked assets marks another important step in this journey. Through our efforts to build a portfolio of premier digital assets and by exploring tokenization opportunities, we believe Reliance can create a new and dynamic investment class that aims to enhance shareholder value and can position the Company at the cutting edge of InsurTech and blockchain innovation. This initiative is designed to potentially unlock long-term growth opportunities for our investors while reinforcing Reliance’s role as a pioneer in financial and insurance technologies.”
Reliance has a longstanding history of leveraging artificial intelligence, data mining, and innovative distribution models to deliver competitive, technology-enabled insurance solutions through RELI Exchange and 5MinuteInsure.com. By applying similar innovation to the blockchain ecosystem, the Company seeks to pioneer the convergence of InsurTech and decentralized finance.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by terminology such as “may,” “should,” “could,” “would,” “will,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “continue,” “potential,” and similar expressions. Forward-looking statements in this press release include, without limitation, statements regarding:
Our expectation that building a diversified cryptocurrency portfolio may enhance our long-term treasury strategy and shareholder value;
Our belief that tokenizing insurance-linked assets could create a new investment class that provides improved transparency, liquidity, and efficiency;
Our expectation that leveraging blockchain and AI-driven capabilities will position Reliance at the forefront of InsurTech and decentralized finance innovation;
Our belief that the formation of the Crypto Advisory Board will provide the expertise and oversight necessary to execute our digital-asset treasury strategy effectively; and
Other statements relating to our future financial performance, business strategy, technology developments, capital allocation, and operational execution.
These forward-looking statements are based on a number of assumptions, including that: (i) the Company is able to successfully implement its digital-asset treasury strategy as approved by the Board; (ii) cryptocurrency and blockchain markets remain sufficiently stable to allow for execution of our strategy; (iii) regulatory and accounting frameworks evolve in a manner consistent with our ability to participate in digital-asset markets; and (iv) no material adverse changes occur in market, economic, or regulatory conditions.
Actual results could differ materially from those anticipated due to a variety of risks and uncertainties, including: volatility or declines in cryptocurrency markets; challenges in executing and managing digital-asset investments; regulatory or accounting changes that adversely impact digital-asset holdings or blockchain-based initiatives; technological risks related to custody, cybersecurity, or blockchain integration; competitive pressures from InsurTech, blockchain, or digital-asset market participants; and other factors described under “Risk Factors” in our Registration Statement on Form S-1, Annual Report on Form 10-K, and other filings with the Securities and Exchange Commission.
You are encouraged to carefully review our Annual Report on Form 10-K for the year ended December 31, 2024, as amended, as well as other SEC filings, for a more complete discussion of these and other risks and uncertainties. Except as required by law, Reliance Global Group Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
LAKEWOOD, NJ, Sept. 02, 2025 — Reliance Global Group, Inc. (Nasdaq: RELI) (“Reliance”, “we” or the “Company”) today announced that Ezra Beyman, Chairman and CEO of Reliance Global Group, will be participating in the 27th Annual H.C. Wainwright Global Investment Conference, taking place September 8th through September 10th, 2025, at the Lotte New York Palace Hotel in New York City.
The Company’s presentation will be available, on-demand, to registered attendees via the conference platform beginning Monday, September 8, 2025, at 7:00 AM Eastern Time.
Management will be participating in one-on-one meetings with qualified members of the investor community throughout the conference in New York City. To request a meeting, please contact reli@crescendo-ir.com.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI) 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. Further information about the Company can be found at https://www.relianceglobalgroup.com.
LAKEWOOD, NJ, Sept. 02, 2025 — Reliance Global Group, Inc. (Nasdaq: RELI) (“Reliance”, “we” or the “Company”) today announced that Ezra Beyman, Chairman and CEO of Reliance Global Group, will be participating in the 27th Annual H.C. Wainwright Global Investment Conference, taking place September 8th through September 10th, 2025, at the Lotte New York Palace Hotel in New York City.
The Company’s presentation will be available, on-demand, to registered attendees via the conference platform beginning Monday, September 8, 2025, at 7:00 AM Eastern Time.
Management will be participating in one-on-one meetings with qualified members of the investor community throughout the conference in New York City. To request a meeting, please contact reli@crescendo-ir.com.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI) 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. Further information about the Company can be found at https://www.relianceglobalgroup.com.
Expanded Functionality Allows RELI Exchange Agency Partners to Prioritize Growth While Ensuring High-Quality Client Servicing
LAKEWOOD, NJ, Aug. 06, 2025 — Reliance Global Group, Inc. (Nasdaq: RELI) (“Reliance”, “we” or the “Company”) today announced a significant enhancement to its RELI Exchange InsurTech platform through the launch of a next-generation Client Service Center. This expanded functionality empowers independent insurance agents to focus on acquiring new business while RELI Exchange’s dedicated team efficiently manages client service requests behind the scenes. This expansion comes on the heels of strong organic growth at RELI Exchange which underscores the scalability and strength of RELI Exchange’s tech-enabled service model.
“Our enhanced service platform allows agency partners to remain laser-focused on driving new business while we ensure that their clients receive prompt and professional support,” said Ezra Beyman, Chairman and CEO of Reliance Global Group. “This is a strategic step forward in our long-term plan to integrate service delivery with sales enablement. By keeping agents on the front lines and removing service-related distractions, RELI Exchange continues to differentiate itself as a true partner in agency growth.”
“With the new digital Client Service Center, policyholders can easily submit requests-such as mortgagee clause updates-through a white-label interface, which are then routed directly to our in-house service team for prompt handling,” said Moshe Fishman, Director of Insurtech and Operations. “This streamlines the service process without disrupting the agent’s focus on new business. At the same time, agents stay informed in real time, maintaining transparency and client trust. It’s as if each agency partner now has a built-in service team, enabling them to focus on growing their business faster without taking on additional overhead.”
“The platform enhancements we have made reflect our continued commitment to delivering smart, scalable solutions for our agency partners. Our technology and operations are tightly aligned with our growth objectives, enabling us to expand revenue while keeping service costs lean. We believe these developments position RELI Exchange as a leading InsurTech solution in the market, offering both operational leverage and exceptional client support,” concluded Mr. Beyman.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by terminology such as “may,” “should,” “could,” “would,” “will,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “continue,” “potential,” and similar expressions. Forward-looking statements in this press release include, without limitation, statements regarding:
Our expectations that the new next-generation Client Service Center will enhance agent productivity, streamline policy servicing workflows, and drive future revenue growth at RELI Exchange;
Our belief that expanded digital self-service capabilities will strengthen our value proposition to independent insurance agents and accelerate platform adoption;
Our expectation that real-time transparency and reporting features will improve client satisfaction metrics and support incremental margin expansion;
Our intention to leverage the scalable InsurTech architecture of RELI Exchange to integrate service delivery with sales enablement and create operating leverage; and
Other statements relating to our future financial performance, business strategy, technology developments, and operational execution.
These forward-looking statements are based on a number of assumptions, including that: (i) the Client Service Center enhancements roll out as planned; (ii) agency partners adopt the new functionalities at anticipated rates; (iii) integration and technical performance meet our expectations; and (iv) no material adverse changes occur in market, economic, or regulatory conditions that would impair platform usage.
Actual results could differ materially from those anticipated due to a variety of risks and uncertainties, including: delays or failure to complete the Spetner acquisition; challenges in realizing anticipated cost savings or cash flow improvements; unexpected integration issues; competitive pressures in the InsurTech and insurance agency markets; adverse economic or regulatory developments; and other factors described under “Risk Factors” in our Registration Statement on Form S-1 and our other filings with the Securities and Exchange Commission.
You are encouraged to carefully review our Annual Report on Form 10-K for the year ended December 31, 2024, as amended, as well as other SEC filings, for a more complete discussion of these and other risks and uncertainties. Except as required by law, Reliance Global Group, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Reduces Debt by 50%, Strengthens Balance Sheet, and Refocuses Strategic Priorities
Company to Host Conference Call Today at 4:30 PM Eastern Time
LAKEWOOD, N.J., July 30, 2025 — Reliance Global Group, Inc. (Nasdaq: RELI) (“Reliance”, “we” or the “Company”) today provided a business update and reported financial results for the quarter ended June 30, 2025.
“During the second quarter, we made meaningful progress toward our long-term strategic objectives, continuing to execute with discipline across both operational and financial fronts,” said Ezra Beyman, Chairman and CEO of Reliance Global Group. “While revenue was modestly lower compared to the prior year period, this was primarily due to a shift in our medical/health client base but offset by an 8% increase in our property and casualty (P&C) revenue stream. Importantly, our core business remained stable, and we continued to drive improvements across the organization. A key pillar of our transformation remains our OneFirm strategy, which unifies our agency operations under a cohesive, integrated model. We believe this approach is driving greater internal efficiency, enhancing collaboration across our teams, and delivering improved service experiences for clients and agents alike. It also positions us to scale more effectively and expand margins as we grow.”
“As part of this strategy, the recent sale of Fortman Insurance Services marked a key step in streamlining our portfolio. By monetizing this asset, we’ve not only strengthened our balance sheet but also reinforced our focus on tech-enabled, high-growth areas that align with our long-term vision for sustainable, innovation-driven growth.”
“From the sale proceeds, we took a major step to strengthen our financial position by repaying approximately $5.6 million-about half of our long-term debt, which reduced our annual debt service by over $1.8 million and meaningfully improved our cash flow and financial flexibility.”
“Another exciting development this quarter was the launch of RELI Auto Leasing, which empowers our RELI Exchange Agency Partners to connect their clients with great auto leasing options. This unique platform not only creates a new revenue stream for our agents-who earn commissions on both the leasing referral and the accompanying insurance-but also delivers a high-convenience experience for consumers, with nationwide delivery available. By integrating leasing solutions into the RELI Exchange platform, we are continuing to strengthen our value proposition and expand the tools our agents can use to grow their businesses,” concluded Mr. Beyman.
2025 Second Quarter Financial Highlights
(approximate figures)
Commission income was $3.1 million in Q2 2025, compared to $3.2 million in Q2 2024. The swing was primarily due to a shift in our medical/health client base but offset by an 8% increase in our property and casualty (P&C) revenue stream.
Commission expense was $989,000 in Q2 2025, compared to $886,000 in Q2 2024 with the swing primarily attributed to the 8% growth in P&C revenues.
Salaries and wages were $2.6 million in Q2 2025, compared to $2.0 million in Q2 2024, with the increase due to non-cash share-based compensation, offset by OneFirm efficiencies and overall leaner operations.
General and administrative expenses were $1.5 million in Q2 2025, compared to $1.0 million in Q2 2024, with the flux being driven by acquisition related cash and non-cash costs offset by OneFirm efficiencies and overall leaner operations.
Net loss for the quarter was $2.7 million, compared to $1.5 million in Q2 2024, reflecting the impacts of non-cash equity compensation and acquisition cash and non-cash related costs.
Adjusted EBITDA (“AEBITDA”) (Non-GAAP measure) loss for the quarter was $382,000 compared to $178,000 in Q2 2024. The increase was driven primarily by the fluctuations affecting the commission income and commission expense accounts offset by improvements in the general expense accounts pursuant to OneFirm efficiencies and overall leaner operations.
“Following the sale of Fortman Insurance Services, we expect to recognize a gain on sale of approximately $3.0 million in the third quarter,” said Joel Markovits, Chief Financial Officer of Reliance Global Group. “Combined with our debt reduction efforts, we’ve significantly deleveraged our balance sheet and lowered our annual debt service obligations by approximately 61%. Our outlook remains strong as we continue to move forward with a focus on disciplined financial management, whilst making strides forward in our pursuit of innovation and expansion of our market footprint.”
Conference Call
Reliance Global Group will host a conference call today at 4:30 PM Eastern Time to discuss the Company’s financial results for the quarter ended June 30, 2025, as well as the Company’s corporate progress and other developments.
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 13, 2026. A telephone replay of the call will be available approximately one hour following the call, through May 27, 2025, 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 52473.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI) 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. Further information about the Company can be found at https://www.relianceglobalgroup.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by terminology such as “may,” “should,” “could,” “would,” “will,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “continue,” “potential,” and similar expressions. Forward-looking statements in this press release include, without limitation, statements regarding:
Our expectations regarding the financial and operational benefits of our recent debt reduction, including reduced annual debt service obligations, improved cash flow, and enhanced financial flexibility;
Our belief that the OneFirm strategy is enhancing internal efficiency, enabling scalability, and positioning us for sustainable margin expansion;
Our intention to continue realigning our portfolio and operations around high-growth, tech-enabled assets, including through the sale of Fortman Insurance Services and the expansion of the RELI Exchange platform;
Our expectation that RELI Auto Leasing will generate new revenue opportunities for our agency partners and increase customer convenience and engagement;
Our outlook regarding the anticipated gain on the Fortman sale and our ability to continue deleveraging and improving our financial condition; and
Other statements relating to our future growth, financial performance, business strategy, and operational execution.
These forward-looking statements are based on a number of assumptions, including that our OneFirm strategy will continue to drive efficiencies, the RELI Exchange and RELI Auto Leasing platforms will gain market traction as expected, the anticipated gain on the Fortman sale will be recognized, and market, economic, and regulatory conditions will remain favorable. There can be no assurance that these assumptions will prove accurate.
Actual results could differ materially from those anticipated due to a variety of risks and uncertainties, including: our ability to successfully integrate new business initiatives such as RELI Auto Leasing; challenges in realizing anticipated cost savings, cash flow improvements, or strategic benefits from our restructuring efforts; competitive pressures in the InsurTech and insurance agency markets; adverse economic or regulatory developments; and other factors described under “Risk Factors” in our Annual Report on Form 10-K and other filings made with the Securities and Exchange Commission.
You are encouraged to carefully review our Annual Report on Form 10-K for the year ended December 31, 2024, as amended, as well as other SEC filings, for a more complete discussion of these and other risks and uncertainties. Except as required by law, Reliance Global Group, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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. Namely our key financial performance metric Adjusted EBITDA (“AEBITDA”) is a non-GAAP financial measure that is not in accordance with, or an alternative to, measures prepared in accordance with GAAP. “AEBITDA” is defined as earnings before interest, taxes, depreciation, and amortization (EBITDA) with additional adjustments as further outlined below, to result in Adjusted EBITDA (“AEBITDA”). 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 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 below.
We exclude the following items when calculating Adjusted EBITDA, 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, 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 is excluded to provide more meaningful supplemental information regarding the Company’s core operational performance.
Recognition and change in fair value of warrant liabilities: This account includes changes to derivative warrant liabilities which are valued at each reporting period and could result in either a gain or loss. The period changes do not impact cash, can be highly volatile, and are unrelated to ongoing operations, and thus are 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.
Transactional costs: This includes expenses related to mergers, acquisitions, financings and refinancings, and amendments or modification to indebtedness. These costs are unrelated to primary Company operations and are excluded to provide more meaningful supplemental information regarding the Company’s core operational performance.
Non-standard costs: This account includes non-standard non-operational items, related to costs incurred for a legal suit the Company has filed against one of the third parties involved in the discontinued operations and was excluded to provide more meaningful supplemental information regarding the Company’s core operational performance.
Loss from discontinued operations before tax: This account includes the net results from discontinued operations, and since discontinued, are unrelated to the Company’s ongoing operations and thus excluded to provide more meaningful supplemental information regarding the Company’s core operational performance.
The following table provides a reconciliation from net loss to AEBITDA for the 3 month and 6 month periods ended June 30, 2025 and 2024, respectively:
The Period Ended June 30,
Six Months Ended June 30,
2025
2024
2025
2024
As reported on10-Q2’24
As reported on10-Q2’24
Net income (loss)
(2,710,901
)
(1,489,395
)
(4,447,786
)
(6,836,057
)
Adjustments:
Interest and related party interest expense
318,988
403,495
644,230
813,780
Depreciation and amortization
346,151
469,788
706,746
1,003,941
Asset impairment
–
–
–
3,922,110
–
–
–
Share based compensation employees directors and third parties
1,479,557
333,897
2,504,542
488,808
Change in estimated acquisition earn-out payables
–
–
–
47,761
Other (income) expense, net
–
(11
)
24,598
(22
)
Transactional costs
248,049
119,203
391,236
373,096
Non-standard costs
(63,534
)
45,724
(35,254
)
90,963
Recognition and change in fair value of warrant liabilities
Lakewood, NJ, July 28, 2025 — Reliance Global Group, Inc. (NASDAQ: RELI) (“Reliance” or the “Company”), announced today that it will host a conference call Wednesday, July 30, 2025, at 4:30 PM Eastern Time to discuss financial results for the second quarter 2025 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 July 30, 2026. A telephone replay of the call will be available approximately one hour following the call, through August 13, 2025, 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 52790.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI) 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. Further information about the Company can be found at https://www.relianceglobalgroup.com.
Strengthened financial position and scalable tech platform pave the way for accelerated growth and margin expansion
LAKEWOOD, NJ, July 10, 2025 — Reliance Global Group, Inc. (Nasdaq: RELI) (“Reliance,” “we,” “us,” “our” or the “Company”) today announced that it has repaid approximately $5.55 million, or approximately 50% of its long term debt, a strategic action that reduces its leverage, strengthens its balance sheet, and enhances financial flexibility. The repayments were funded through proceeds from the recently announced asset sale of Fortman Insurance Services, a wholly owned subsidiary, which generated $5.0 million in cash for the Company, with the remainder coming from the release of cash collateral held in our restricted cash accounts. As a result, annual principal, interest and service fee payments are expected to decline from approximately $2.95 million to $1.1 million – a reduction of over $1.8 million, or 61%.
“Reducing our debt by approximately 50% marks a transformative milestone for Reliance and is a direct result of the financial execution and operational improvements made across the business,” said Ezra Beyman, CEO of Reliance Global Group. “This achievement reflects the strength of our cash position and our commitment to long-term financial health. By lowering our annual debt service obligations by over $1.8 million, we are meaningfully enhancing our cash flow profile. These steps also create greater flexibility to support strategic initiatives, such as our planned acquisition of Spetner Associates (“Spetner”).”
Joel Markovits, Chief Financial Officer of Reliance Global Group, added, “Deleveraging our balance sheet has been a long-term goal for the Company, and also partially executes on our strategy to fund the Spetner deal by enhancing our leverage ratio, which often is a key factor to investors and lenders. Our disciplined approach to managing cash flows, expenditures and capital allocation, reflects our fiscal responsibility and strategic focus on long-term value creation that will support exponential operational growth, wider margins, and greater returns to our investors and shareholders.”
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI) 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. Further information about the Company can be found at https://www.relianceglobalgroup.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by terminology such as “may,” “should,” “could,” “would,” “will,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “continue,” “potential,” and similar expressions. Forward-looking statements in this press release include, without limitation, statements regarding:
Our expectations regarding the financial and operational benefits of our recent debt reduction, including enhanced cash flow, reduced debt service obligations, and improved financial flexibility;
Our belief that these improvements strengthen our ability to support strategic initiatives, including the planned acquisition of Spetner Associates, Inc.;
Our expectation that the Spetner acquisition will be completed on commercially reasonable terms and will meaningfully contribute to our cash flow and long-term value creation;
Our intention to continue leveraging our scalable InsurTech platform and streamlined capital structure to pursue margin expansion and operating leverage; and
Other statements relating to our future growth, financial performance, business strategy, and operational execution.
These forward-looking statements are based on a number of assumptions, including that the Spetner acquisition will proceed as expected; projected cash flow benefits and operating synergies will materialize; integration risks will be effectively managed; and no material adverse changes will occur in market, economic, or regulatory conditions. There can be no assurance that these assumptions will prove accurate.
Actual results could differ materially from those anticipated due to a variety of risks and uncertainties, including: delays or failure to complete the Spetner acquisition; challenges in realizing anticipated cost savings or cash flow improvements; unexpected integration issues; competitive pressures in the InsurTech and insurance agency markets; adverse economic or regulatory developments; and other factors described under “Risk Factors” in our Registration Statement on Form S-1 and our other filings with the Securities and Exchange Commission.
You are encouraged to carefully review our Annual Report on Form 10-K for the year ended December 31, 2024, as amended, as well as other SEC filings, for a more complete discussion of these and other risks and uncertainties. Except as required by law, Reliance Global Group, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Proceeds to further solidify balance sheet as Company advances long-term growth strategy
LAKEWOOD, NJ, July 08, 2025 — Reliance Global Group, Inc. (Nasdaq: RELI) (“Reliance,” “we,” “us,” “our” or the “Company”) today announced it has completed an asset sale of Fortman Insurance Services (“Fortman”), a wholly owned subsidiary, for $5 million in cash. The transaction marks the successful execution of a strategic initiative to monetize a non-core asset and further strengthen the Company’s financial position.
Following its acquisition by Reliance, Fortman continued to enhance its operational efficiency, financial stability, and market competitiveness. The finalized sale, at a value above the initial purchase price Reliance purchased Fortman for in 2019, reflects Reliance’s commitment to prudent capital deployment and its continued focus on maximizing shareholder returns.
The Company also reaffirmed its expectation that the acquisition of Spetner Associates, Inc. (“Spetner”) will be completed. Spetner has built significant momentum in recent years, with consistent growth and healthy cash flow contributions across its operations. The transaction is expected to complement Reliance’s existing business model and align with its OneFirm strategy, creating opportunities to expand operational scale and drive long-term value.
“Closing the Fortman transaction marks a key milestone in our strategic roadmap and reflects the disciplined approach we take to identifying, enhancing, and monetizing value within our portfolio,” commented Ezra Beyman, CEO of Reliance. “From the outset, Fortman was a compelling acquisition, and through targeted operational improvements, we positioned the business for long-term success. Selling the asset at a premium demonstrates the strength of our execution and adds meaningful capital to our balance sheet, increasing our flexibility to advance strategic priorities. This transaction reinforces our commitment to executing initiatives that strengthen our platform, support sustainable growth, and accelerate our transformation into a streamlined, tech-enabled insurance organization. I remain confident in our ability to deliver lasting value to our shareholders.”
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI) 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. Further information about the Company can be found at https://www.relianceglobalgroup.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by terminology such as “may,” “should,” “could,” “would,” “will,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “continue,” “potential,” and similar expressions. Forward-looking statements in this press release include, without limitation, statements regarding:
Our ability to successfully deploy the $5 million in proceeds from the Fortman sale to support our strategic and financial objectives;
Our expectation that the acquisition of Spetner Associates, Inc. will be completed on commercially reasonable terms, including obtaining any necessary regulatory or shareholder approvals;
The anticipated benefits of the Spetner acquisition to our business model, operational scale, and long-term value creation strategy;
Our continued execution of initiatives to streamline operations, enhance financial flexibility, and pursue accretive growth opportunities in the InsurTech and insurance agency sectors; and
Other statements of our plans, intentions, and expectations regarding future financial performance, operations, and strategic initiatives.
These forward-looking statements are based on numerous assumptions, including that the Spetner acquisition will proceed as expected; that projected revenue and EBITDA contributions from Spetner are achievable; that integration risks can be effectively managed; and that there will be no material adverse developments in market, economic, or regulatory conditions impacting our business. There can be no assurance that these assumptions will prove correct.
Actual results may differ materially from those expressed or implied by these forward-looking statements due to various risks and uncertainties, including but not limited to: delays or failure to complete the Spetner acquisition; unanticipated integration challenges or liabilities associated with the acquisition; our inability to achieve expected financial results or operational synergies; increased competition in the InsurTech and agency brokerage industries; adverse regulatory or market developments; and other risks described in the “Risk Factors” section of our Registration Statement on Form S-1 and our periodic reports filed with the Securities and Exchange Commission.
You should carefully review our Annual Report on Form 10-K for the year ended December 31, 2024, as amended, and our other SEC filings for a more complete discussion of these and other risks. Except as required by law, Reliance Global Group, Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Spetner Reports 95% Revenue Growth and Tripled Net Income in Q1 2025, Highlighting Strong Profitability and Cash Flows Ahead of Planned Acquisition
LAKEWOOD, NJ, June 26, 2025 — Reliance Global Group, Inc. (Nasdaq: RELI) (“Reliance,” “we,” “us,” “our” or the “Company”) today highlighted the strong preliminary unaudited financial results of Spetner Associates, Inc. (“Spetner”) for the first quarter ended March 31, 2025. As previously announced, Reliance has entered into a definitive agreement to acquire Spetner, and the transaction continues to advance toward closing.
Revenue increased by more than 95% year-over-year to approximately $5.16 million, compared with $2.64 million in Q1 2024.
Operating income margin grew by 29% year-over-year to 74% from 46% in Q1 2024.
Net income grew by 220% to approximately $2.98 million, more than triple the approximately $0.9 million reported for Q1 2024.
Cash flows from operating activities increased by 112% to $2.6 million, more than double the $1.2 million generated in Q1 2024.
Ezra Beyman, CEO of Reliance Global Group, commented, “We’re thrilled with Spetner’s impressive first quarter results, illustrating full alignment with our strategy of acquiring and integrating high-performing cash-generating synergistic insurance distribution platforms. Combined with Reliance’s scalable operating model and technology-driven platform, the combined organization will be well positioned to generate consistent significant profits, returns and cash flows.”
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI) 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. Further information about the Company can be found at https://www.relianceglobalgroup.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by terminology such as “may,” “should,” “could,” “would,” “will,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “continue,” “potential,” and similar expressions. Forward-looking statements in this press release include, without limitation, statements regarding:
Our expectation that the acquisition of Spetner Associates, Inc. will close as planned or at all and continue to advance toward completion, including obtaining any necessary regulatory or shareholder approvals;
Our objective to acquire and integrate high-performing, cash-generating synergistic insurance distribution platforms that align with our scalable, technology-driven model to drive shareholder value;
Our intention to pursue disciplined, accretive growth opportunities across the InsurTech and insurance agency sectors; and
Other statements regarding our plans, strategies, expectations and intentions concerning future operations, financial performance, and service offerings of either us, Spetner or the potentially combined company thereof.
These forward-looking statements are based on a number of assumptions, including the assumptions that: the LOI will not be terminated prior to execution of definitive purchase agreements; due diligence and documentation negotiations will proceed without material adverse findings; the Fortman sale and the Spetner acquisition will both close as expected; our revenue and EBITDA projections for Spetner are attainable; integration risks will be managed successfully; and there will be no material adverse changes in market, economic or regulatory conditions affecting our businesses. There can be no assurance that any of these assumptions will prove correct.
There are numerous risks and uncertainties that may cause actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These include, among others: the risk that the Fortman buyer may withdraw or renegotiate the terms of the LOI; delays or failure to complete either the Fortman sale or the Spetner acquisition; unanticipated liabilities or integration challenges in connection with Spetner; our inability to realize the projected revenue or EBITDA benefits; competition in the InsurTech and agency brokerage industry; changes in insurance regulation or Nasdaq listing requirements; general economic or financial market conditions; and the other risks and uncertainties described in the “Risk Factors” section of our Registration Statement on Form S-1 and our periodic reports filed with the Securities and Exchange Commission.
You should carefully review our Annual Report on Form 10-K for the year ended December 31, 2024, as amended, and the other reports we have filed or will file with the SEC for a more complete discussion of risks and uncertainties. tExcept as required by law, Reliance Global Group, Inc. disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
