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Reliance Global Group
(NASDAQ:EZRA)
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Rating:47Neutral
Price Target:
$2.00
▼(-26.20% Downside)
Action:Reiterated
Date:10/06/26
EZRA scores low primarily due to weak financial performance—declining revenue, large losses, and persistent negative operating/free cash flow. Technicals also remain bearish with the price below key moving averages and negative MACD, despite oversold readings. Offsetting factors include improving leverage and positive strategic actions (asset sales and cost cuts), but near-term liquidity and execution risk around AI revenue timing keep the overall score constrained.
Positive Factors
Operating Cost Reduction
The substantial reduction in operating expenses improves the efficiency of the retained business and lowers the cost base that future revenue must support. If maintained, these savings can reduce losses, extend financial flexibility and provide a more scalable platform for technology-led growth.
Negative Factors
Declining Revenue and Commission Income
The continued top-line contraction weakens the earnings base available to absorb fixed costs and invest in new initiatives. Although divestitures explain much of the decline, the smaller revenue platform increases dependence on retained-business growth and successful AI monetization.
Read all positive and negative factors
Positive Factors
Negative Factors
Operating Cost Reduction
The substantial reduction in operating expenses improves the efficiency of the retained business and lowers the cost base that future revenue must support. If maintained, these savings can reduce losses, extend financial flexibility and provide a more scalable platform for technology-led growth.
Read all positive factors
Reliance Global Group (EZRA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.05M
Dividend Yield3.16%
Average Volume (3M)142.65K
Price to Earnings (P/E)―
Beta (1Y)1.56
Revenue Growth-21.45%
EPS Growth82.28%
CountryUS
Employees40
SectorFinancial
Sector Strength70
IndustryInsurance - Brokers
Share Statistics
EPS (TTM)-23.92
Shares Outstanding1,679,936
10 Day Avg. Volume336,100
30 Day Avg. Volume142,649
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.40
Price to Sales (P/S)0.21
P/FCF Ratio-0.82
Enterprise Value/Market Cap1.34
Enterprise Value/Revenue0.54
Enterprise Value/Gross Profit4.07
Enterprise Value/Ebitda2.40
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Reliance Global Group Business Overview & Revenue Model
Company Description
Reliance Global Group, Inc. acquires, owns, and manages insurance distribution and technology-oriented businesses in the United States. The company operates RELI Exchange, a business-to-business InsurTech platform and partner network designed to s...
How the Company Makes Money
Reliance Global Group primarily makes money through insurance distribution economics. Its key revenue stream is commissions and fees earned for placing and servicing insurance policies with insurance carriers (e.g., personal and commercial lines)....
Reliance Global Group Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Neutral
The call conveyed a balanced mix of encouraging operational improvements (notably a ~28% reduction in operating expenses, ~26% improvement in net loss, significant payroll and G&A cuts, leadership hires and an AI platform milestone) and meaningful challenges (a ~32% decline in commission income due to divestitures, a widened adjusted EBITDA loss, modest cash and working capital, and remaining GAAP losses). Management emphasizes strategic focus and technology-driven growth, but near-term liquidity, adjusted EBITDA deterioration and dependence on successful AI commercialization present material risks.Positive Updates
Operating Expense Reduction
Company reduced operating expenses by approximately 28% year-over-year, driven by divestitures, the OneFirm operating model and continued cost discipline.
Negative Updates
Decline in Commission Income
Commission income fell to $2.1 million from $3.1 million year-over-year, a decline of approximately 32.3%, primarily reflecting the portfolio realignment and divestiture of non-core operations.
Read all updates
Q2-2026 Updates
Positive
Negative
Operating Expense Reduction
Company reduced operating expenses by approximately 28% year-over-year, driven by divestitures, the OneFirm operating model and continued cost discipline.
Read all positive updates
Company Guidance
The company guided that its proprietary AI platform could begin generating revenue in roughly 6–9 months (possibly sooner) while continuing disciplined capital allocation, cost control and evaluation of commercialization opportunities; management reiterated plans to expand AI deployment across the business and report progress next quarter. Key metrics cited that underpin that guidance include $1.8M of combined cash and restricted cash ($0.8M unrestricted), $1.2M working capital and $6.6M stockholders’ equity; quarter commission income of $2.1M (down from $3.1M), commission expense $0.8M (from $1.0M), salaries and wages ~$1.5M (from $2.6M), G&A $1.2M (from $1.5M); operating expenses were reduced ~28% year‑over‑year, net loss improved ~26% to $2.0M (from $2.7M), and adjusted EBITDA was a loss of $1.1M (vs. $0.4M loss prior year), with management noting lower non‑cash share‑based comp, interest, and D&A and that AI is already contributing to expense reductions and productivity gains.Reliance Global Group Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
42
Neutral
Cash Flow
20
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.12M | 12.43M | 14.05M | 13.73M | 11.76M | 9.71M |
| Gross Profit | 1.34M | -2.49M | 2.64M | 2.50M | 1.11M | 2.61M |
| EBITDA | 2.27M | -7.68M | -5.70M | -5.76M | 25.04M | -1.53M |
| Net Income | -6.00M | -6.99M | -9.07M | -12.01M | 6.47M | -21.10M |
Balance Sheet | ||||||
| Total Assets | 12.87M | 13.55M | 17.32M | 23.02M | 38.43M | 27.68M |
| Cash, Cash Equivalents and Short-Term Investments | 843.51K | 1.32M | 372.69K | 1.33M | 505.41K | 4.14M |
| Total Debt | 5.27M | 2.26M | 13.03M | 14.54M | 17.57M | 9.43M |
| Total Liabilities | 6.22M | 7.12M | 14.32M | 15.87M | 29.52M | 53.74M |
| Stockholders Equity | 6.65M | 6.43M | 3.00M | 7.15M | 8.91M | -26.07M |
Cash Flow | ||||||
| Free Cash Flow | -7.14M | -3.11M | -2.60M | -1.04M | -3.99M | -2.94M |
| Operating Cash Flow | -7.11M | -3.09M | -2.52M | -847.97K | -3.19M | -2.25M |
| Investing Cash Flow | 4.11M | 5.33M | -83.23K | 710.19K | -24.64M | -2.30M |
| Financing Cash Flow | -788.45K | -1.30M | 1.66M | 966.92K | 25.12M | 8.64M |
Reliance Global Group Technical Analysis
Negative
2.71
Price Trends
2.56
Negative
2.89
Negative
6.88
Negative
Market Momentum
-0.09
Positive
37.62
Neutral
41.16
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EZRA, the sentiment is Negative. The current price of 2.71 is above the 20-day moving average (MA) of 2.55, above the 50-day MA of 2.56, and below the 200-day MA of 6.88, indicating a bearish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 37.62 is Neutral, neither overbought nor oversold. The STOCH value of 41.16 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for EZRA.
Reliance Global Group Risk Analysis
Reliance Global Group disclosed 38 risk factors in its most recent earnings report. Reliance Global Group reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Reliance Global Group Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $13.04M | 0.16 | 6.41% | ― | ― | ― | |
47 Neutral | $4.05M | -0.09 | -88.14% | 3.16% | -21.45% | 82.28% | |
47 Neutral | $22.65M | -0.85 | 3.23% | ― | -8.37% | -220.33% | |
41 Neutral | $36.66M | -0.19 | -424.23% | ― | 37.29% | -396.13% |
* Financial Sector Average
EZRA
Reliance Global Group
2.21
-36.98
-94.36%
EHTH
Ehealth
0.71
-3.94
-84.77%
HUIZ
Huize Holding
1.30
-2.80
-68.29%
ZBAO
Zhibao Technology Inc. Class A
0.06
-0.91
-94.01%
Reliance Global Group Corporate Events
Business Operations and StrategyM&A Transactions
Reliance Global Divests Altruis to Focus InsurTech Strategy
Positive
Oct 5, 2026
On October 1, 2026, Reliance Global Group announced it had completed the sale of substantially all assets of its Altruis Benefit Consulting subsidiary, a Michigan-based health insurance agency and benefits consultant. The Altruis transaction close...
Business Operations and StrategyM&A Transactions
Reliance Global Group streamlines debt after asset sale
Positive
Sep 30, 2026
On September 23, 2026, Altruis Benefit Consultants, a wholly owned subsidiary of Reliance Global Group, sold substantially all assets of its employee benefits insurance agency business to Altruis Benefit Management for $8 million, comprising cash,...
Business Operations and StrategyM&A Transactions
Reliance Global divests subsidiary to fund InsurTech growth
Positive
Sep 16, 2026
On September 11, 2026, Reliance Global Group completed the sale of its Southwestern Montana Insurance Center subsidiary, a full-service insurance agency, to Scali Insurance Group for $2.625 million in cash at closing, plus an uncapped earnout tied...
Business Operations and StrategyPrivate Placements and Financing
Reliance Global Group Amends Credit Deal for Flexibility
Positive
Sep 11, 2026
On September 4, 2026, Reliance Global Group’s subsidiaries entered a Sixth Amendment to their Master Credit Agreement with Oak Street Funding, allowing the approved sale of Southwestern Montana Insurance Center while reallocating only half o...
Business Operations and StrategyM&A Transactions
Reliance Global Group Divests Southwestern Montana Insurance Center
Positive
Sep 9, 2026
On September 2, 2026, Reliance Global Group, Inc. and its subsidiary Southwestern Montana Insurance Center, LLC entered into an agreement to sell 100% of SMI’s membership interests and its full book of insurance business and related assets t...
Business Operations and Strategy
Reliance Global Adopts One-Year Stockholder Rights Plan
Neutral
Sep 3, 2026
On September 2 and 3, 2026, Reliance Global Group’s board adopted a one-year stockholder rights plan and related Series A preferred stock designations, issuing one right per common share to holders of record on September 18, 2026. The rights...
Business Operations and StrategyM&A Transactions
Reliance Global Pursues New Altruis Asset Sale Agreement
Neutral
Aug 27, 2026
Reliance Global Group, Inc. reported that a non-binding letter of intent signed on July 30, 2026 to sell substantially all operating assets of its Altruis Benefit Consulting subsidiary to a third-party buyer was terminated on August 14, 2026. The ...
Private Placements and Financing
Reliance Global Group Completes Private Equity Share Sale
Neutral
Aug 6, 2026
Reliance Global Group, Inc. disclosed that on August 4, 2026, it sold 251,666 shares of its common stock to White Lion Capital, LLC at prices between $2.79 and $2.90 per share, generating gross proceeds of about $716,000. The private placement, co...
Business Operations and StrategyM&A Transactions
Reliance Global to Sell Altruis Assets, Boost Liquidity
Positive
Aug 5, 2026
On August 3, 2026, Reliance Global Group announced that on July 30, 2026 it signed a non-binding letter of intent to sell substantially all operating assets of its Altruis Benefit Consulting subsidiary, a Michigan-based health insurance agency and...
Business Operations and StrategyExecutive/Board Changes
Reliance Global Group Accelerates Executive Equity Vesting Plan
Positive
Jul 29, 2026
On July 27, 2026, Reliance Global Group, Inc.’s Compensation Committee approved amendments to the vesting schedule for certain previously granted restricted stock awards under its 2025 Equity Incentive Plan. The changes accelerated the vesti...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.