Reliance Global Group, Inc. (RELI) Q3 2024 Earnings Call Transcript Summary
Reliance Global Group, Inc. (RELI) Q3 2024 Earnings Call Transcript Summary
Net loss for the quarter improved by approximately $1 million or 54% over the prior year; adjusted EBITDA was positive at $42,000, a 121% increase YoY.The following is a summary of the Reliance Global Group, Inc. (RELI) Q3 2024 Earnings Call Transcript:
以下是Reliance Global Group, Inc. (RELI) 2024年第三季度業績電話會議摘要：
Financial Performance:
財務表現:
Reliance Global Group reported revenue of $3.4 million for Q3 2024, demonstrating a 5% increase YoY.
Operating expenses were significantly reduced by 16% YoY to $3.9 million, enhancing operational efficiency.
Net loss for the quarter improved by approximately $1 million or 54% over the prior year; adjusted EBITDA was positive at $42,000, a 121% increase YoY.
Reliance Global Group報告2024年第三季度營業收入爲340萬美元，同比增長5%。
營業費用同比大幅降低16%，達到390萬美元，增強了運營效率。
本季度淨虧損同比改善約100萬美元，增長幅度達54%；調整後的EBITDA爲正值，爲42,000美元，同比增長121%。
Business Progress:
業務進展：
The company successfully implemented the OneFirm strategy, consolidating its insurance agencies to optimize operations and improve financial results.
Launched an AI-powered commercial quote and buying solution on the RELI Exchange platform ahead of schedule, enhancing service speed and competitiveness.
Expects significant revenue growth and EBITDA improvement from the pending acquisition of Spetner Associates, which will nearly double the company's revenues.
公司成功實施了OneFirm策略，整合保險機構以優化運營並改善財務業績。
提前在RELI交易所平台上推出了基於人工智能的商業報價和購買解決方案，提高了服務速度和競爭力。
預計通過即將收購Spetner Associates獲得顯著的營業收入增長和EBITDA改善，這將使公司的營業收入幾乎翻倍。
Opportunities:
機會：
Planned acquisition of Spetner Associates is expected to expand service offerings and substantially increase revenues, leveraging cross-selling opportunities with Spetner's client base of over 85,000 employees.
The newly launched AI-powered platform is set to open new revenue streams and boost commission potential.
計劃收購Spetner Associates預計將擴大服務範圍並大幅增加營收，利用Spetner擁有超過85,000名員工的客戶群進行交叉銷售。
新推出的人工智能平台預計將開拓新的營收渠道，並提升佣金潛力。
Risks:
風險：
Reliance is heavily reliant on the successful integration of Spetner Associates and the performance of the AI-powered platform to sustain growth.
Reliance極度依賴於成功整合Spetner Associates和人工智能平台的表現來實現增長。
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示：如需更全面的詳情，請參閱投資人關係網站。本文僅供投資者參考，不作任何指引或建議。
譯文內容由第三人軟體翻譯。
