The following is a summary of the Reliance Global Group, Inc. (RELI) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Reliance Global Group reported a modest year-over-year revenue increase for the year ended December 31, 2024, with revenues increasing by $0.3 million or 2% to $14.1 million.

• Commission expenses increased by $0.5 million or 12% due to changes in revenue mix and organic growth, while salaries and wages decreased by 4% or $0.2 million.

• Net loss improved by $2.9 million or 24% to $9.1 million, thanks to lower intangible asset impairment charges and effective balance sheet management.

• EBITDA improved by 39% reflecting successful implementation of strategic initiatives and operational efficiencies.

Business Progress:

• Reliance's OneFirm strategy integrated agency operations into a tech-driven platform, boosting efficiency and improving net results.

• The company is in the final stages of acquiring Spetner Associates, expected to enhance market reach and operations.

• Significant enhancements were made to the RELI Exchange AI-powered Quote & Bind platform, expanding carrier options and product range, aimed at improving agent efficiency and underwriting accuracy.

Opportunities:

• Continuous expansion and enhancements of the RELI Exchange platform position Reliance to capitalize on the evolving InsurTech landscape.

• The acquisition of Spetner Associates is poised to enhance the company's market reach and operational capabilities, contributing to long-term scalable growth.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.