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Earnings Call Summary | Reliance Global Group(RELI.US) Q1 2024 Earnings Conference

Earnings Call Summary | Reliance Global Group(RELI.US) Q1 2024 Earnings Conference

業績電話會議摘要 | 信實環球集團 (RELI.US) 2024 年第一季度業績會議
moomoo AI ·  05/21 04:43  · 電話會議

The following is a summary of the Reliance Global Group, Inc. (RELI) Q1 2024 Earnings Call Transcript:

以下是信實環球集團有限公司(RELI)2024年第一季度業績電話會議記錄摘要:

Financial Performance:

財務業績:

  • Reliance Global Group reported a 4% revenue increase in Q1 2024 to $4.1 million, attributed to ongoing organic growth.

  • The company experienced increases in commission expense to $1.3 million and general and administrative expenses to $1.4 million.

  • Q1 2024 saw a significant net loss of $5.3 million as a result of a non-cash impairment charge of $3.9 million.

  • Adjusted EBITDA was slightly negative at $74,000, but the metric is expected to improve as the fiscal year progresses.

  • 信實環球集團報告稱,由於持續的有機增長,2024年第一季度收入增長了4%,達到410萬美元。

  • 該公司的佣金支出增加到130萬美元,一般和管理費用增加到140萬美元。

  • 由於390萬澳元的非現金減值費用,2024年第一季度出現了530萬美元的巨額淨虧損。

  • 調整後的息稅折舊攤銷前利潤略爲負74,000美元,但隨着財年的推移,該指標預計將有所改善。

Business Progress:

業務進展:

  • Throughout Q1 2024, Reliance Global Group initiated the integration of its own nine agencies across the US into a single entity, aiming to increase revenue and profitability.

  • The company expects a significant revenue boost towards a total of $28 million with the anticipated acquisition of Spetner Associates, a benefits enrollment company which predicts a $14 million revenue for 2024.

  • The Spetner acquisition also projects to add $4 million to Reliance's EBITDA for 2024.

  • In addition to immediate financial benefits, the strategic integration and acquisition will aim at positioning Reliance Global Group as a technological frontrunner in the $436 billion global insurance agency brokerage market, driving profitability and shareholder value.

  • 在整個2024年第一季度,信實環球集團開始將其在美國的九個機構整合爲一個單一實體,旨在增加收入和盈利能力。

  • 該公司預計,收購Spetner Associates將大幅增加總收入2,800萬美元。Spetner Associates是一家福利登記公司,預計2024年的收入爲1400萬美元。

  • 斯佩特納的收購還預計將使信實2024年的息稅折舊攤銷前利潤增加400萬美元。

  • 除了立即獲得財務收益外,此次戰略整合和收購還將旨在將信實環球集團定位爲4,360億美元的全球保險代理經紀市場的技術領跑者,從而提高盈利能力和股東價值。

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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