Reliance Global Group (EZRA)
NASDAQ:EZRA
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Reliance Global Group
(NASDAQ:EZRA)
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Rating:45Neutral
Price Target:
$0.17
▼(-71.86% Downside)
Action:ReiteratedDate:05/05/26
The score is held down primarily by weak financial performance (persistent losses and multi-year negative operating/free cash flow) and bearish technicals (price below all key moving averages with negative MACD). Valuation support is limited because earnings are negative despite a high stated dividend yield. The earnings call and corporate updates provide some offset via balance-sheet improvement and growth/strategy initiatives, but execution and liquidity risk remain significant.
Positive Factors
Balance-sheet de-risking
A material reduction in debt and a move to ~0.35x debt/equity meaningfully lowers financial leverage and refinancing risk. This strengthens financial flexibility for 6–24 month strategic execution, reduces interest burden, and improves the company’s ability to fund technology investments or absorb shocks without immediate dilution.
Negative Factors
Persistent cash burn
Continuous negative operating and free cash flow indicate the core business has not been self-funding and relies on external capital or asset monetizations. Over 2–6 months this raises refinancing and execution risk, constrains discretionary investments, and forces dependency on equity or debt markets to sustain operations.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet de-risking
A material reduction in debt and a move to ~0.35x debt/equity meaningfully lowers financial leverage and refinancing risk. This strengthens financial flexibility for 6–24 month strategic execution, reduces interest burden, and improves the company’s ability to fund technology investments or absorb shocks without immediate dilution.
Read all positive factors
Reliance Global Group (EZRA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.79M
Dividend YieldN/A
Average Volume (3M)3.41M
Price to Earnings (P/E)―
Beta (1Y)1.38
Revenue Growth-11.55%
EPS Growth89.71%
CountryUS
Employees64
SectorFinancial
Sector Strength70
IndustryInsurance - Brokers
Share Statistics
EPS (TTM)-67.76
Shares Outstanding21,253,014
10 Day Avg. Volume3,759,865
30 Day Avg. Volume3,413,808
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.43
Price to Sales (P/S)0.22
P/FCF Ratio-0.90
Enterprise Value/Market Cap0.73
Enterprise Value/Revenue0.24
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda-0.36
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. is a diversified company, which engages in the business of insurance market and other relates sectors. It focuses on acquisition strategy, wholesale, and retail insurance agencies. The company was founded on August 2, 2...
How the Company Makes Money
Reliance Global Group generally earns revenue through insurance distribution economics associated with agency and brokerage operations. The core revenue stream is commissions and fees generated when the company (or its agents) places insurance pol...
Reliance Global Group Earnings Call Summary
Earnings Call Date:Mar 10, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 20, 2026
Earnings Call Sentiment Neutral
The call described a clear strategic pivot and tangible balance sheet improvements (cash, working capital, equity), meaningful growth in the RELI Exchange distribution network and early-stage technology investments that could deliver long-term upside. Offsetting these positives are a decline in commission income after divestitures, a wider adjusted EBITDA loss, continued net losses, rising operating costs driven by equity-based compensation, and limited unrestricted cash. Technology investments are promising but remain milestone-dependent and speculative in the near term.Positive Updates
Balance Sheet Improvements
Unrestricted cash increased to $1.3M (reported +$0.9M or +250% YoY). Working capital improved to $1.9M (reported +$1.5M or +351% YoY). Stockholders' equity increased to $6.4M (reported +$3.4M or +114% YoY). Management also reported reduced long-term debt and greater financial flexibility following portfolio realignment.
Negative Updates
Commission Income Decline Following Divestitures
Commission income decreased to $12.4M from $14.1M in 2024 (decline of $1.7M, approx -12%), primarily reflecting strategic divestitures during the year.
Read all updates
Q4-2025 Updates
Positive
Negative
Balance Sheet Improvements
Unrestricted cash increased to $1.3M (reported +$0.9M or +250% YoY). Working capital improved to $1.9M (reported +$1.5M or +351% YoY). Stockholders' equity increased to $6.4M (reported +$3.4M or +114% YoY). Management also reported reduced long-term debt and greater financial flexibility following portfolio realignment.
Read all positive updates
Company Guidance
Management's guidance centers on executing the Scale51 strategy over the next 6–12 months with milestone-based investments (aiming for near-term revenue from Enquantum, potentially later this year) while relying on the insurance/InsurTech core that produced $12.4M in commission income in 2025 (vs. $14.1M in 2024); they highlighted 36% YoY growth in personal P&C premiums, a ~72% increase in policies written during the most recent health open enrollment, and expansion of the RELI Exchange partner network from ~65 to ~250 agencies since 2022; financial moves to support this plan include a $5.0M cash sale of Fortman, unrestricted cash up $0.9M to $1.3M (+250%), working capital up $1.5M to $1.9M (+351%), stockholders’ equity up $3.4M to $6.4M (+114%), commission expense of $4.6M, salaries and wages of $10.3M, G&A of $4.9M, a net loss improved to $7.0M (from $9.1M), and an adjusted EBITDA loss of $1.6M (from $0.3M), with management expecting these actions to strengthen liquidity, simplify operations and position Reliance/EZRA for disciplined, technology-driven growth.Reliance Global Group Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
38
Negative
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 12.43M | 14.05M | 13.73M | 11.76M | 9.71M |
| Gross Profit | 0.00 | 2.64M | 2.50M | 1.11M | 2.61M |
| EBITDA | -7.68M | -5.70M | -5.76M | 25.04M | -1.31M |
| Net Income | -6.99M | -9.07M | -12.01M | 6.47M | -21.10M |
Balance Sheet | |||||
| Total Assets | 13.55M | 17.32M | 23.02M | 38.43M | 27.68M |
| Cash, Cash Equivalents and Short-Term Investments | 1.32M | 372.69K | 1.33M | 505.41K | 4.14M |
| Total Debt | 2.26M | 13.03M | 14.54M | 17.57M | 9.43M |
| Total Liabilities | 7.12M | 14.32M | 15.87M | 29.52M | 53.74M |
| Stockholders Equity | 6.43M | 3.00M | 7.15M | 8.91M | -26.07M |
Cash Flow | |||||
| Free Cash Flow | -3.11M | -2.60M | -1.04M | -3.99M | -2.94M |
| Operating Cash Flow | -3.09M | -2.52M | -847.97K | -3.19M | -2.25M |
| Investing Cash Flow | 5.33M | -83.23K | 710.19K | -24.64M | -2.30M |
| Financing Cash Flow | -1.30M | 1.66M | 966.92K | 25.12M | 8.64M |
Reliance Global Group Technical Analysis
Neutral
0.59
Price Trends
0.20
Negative
0.37
Negative
0.68
Negative
Market Momentum
>-0.01
Negative
50.18
Neutral
59.99
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EZRA, the sentiment is Neutral. The current price of 0.59 is above the 20-day moving average (MA) of 0.19, above the 50-day MA of 0.20, and below the 200-day MA of 0.68, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 50.18 is Neutral, neither overbought nor oversold. The STOCH value of 59.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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% | |
60 Neutral | $16.47M | 2.52 | 4.56% | ― | 19.30% | -17.56% | |
55 Neutral | $58.73M | 0.41 | 4.33% | ― | 4.06% | 69.78% | |
46 Neutral | $23.10M | -12.21 | -288.50% | ― | 37.29% | -396.13% | |
45 Neutral | $3.79M | -0.50 | -148.13% | ― | -11.55% | 89.71% | |
42 Neutral | $30.87M | -0.21 | -135.15% | ― | -54.71% | -2544.97% |
* Financial Sector Average
EZRA
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Reliance Global Group Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Reliance Global Group Expands Into Radiopharmaceuticals with Investment
Positive
May 4, 2026
Reliance Global Group has formed LifeSci Global Group LLC as a majority-owned vehicle to invest in healthcare and early-stage life sciences companies, funding its deals via loans from the company and its subsidiary EIG. The move extends Reliance&#...
Business Operations and StrategyProduct-Related Announcements
Reliance Global Unveils RELI Exchange 2.0 InsurTech Upgrade
Positive
Mar 27, 2026
On March 25, 2026, Reliance Global Group launched RELI Exchange 2.0, an upgraded version of its InsurTech platform for independent insurance agencies, aimed at expanding recruiting capacity and improving execution. The move follows strong momentum...
Business Operations and StrategyLegal ProceedingsPrivate Placements and FinancingRegulatory Filings and Compliance
Reliance Global Restates Governance and Extends Capital Commitment
Positive
Mar 17, 2026
On March 13 and March 11, 2026, Reliance Global Group, Inc. entered into two settlement agreements resolving disputes tied to prior stock purchase transactions, under which investors had acquired 1,333,334 common shares each for $100,000 and alleg...
Executive/Board Changes
Reliance Global Grants One-Time Bonus to Chief Financial Officer
Positive
Mar 2, 2026
On March 2, 2026, the Compensation Committee of Reliance Global Group, Inc. approved and ratified a one-time compensation arrangement for Chief Financial Officer Joel Markovits. Under the decision, Mr. Markovits received a one-time cash bonus of $...
Business Operations and StrategyExecutive/Board ChangesM&A Transactions
Reliance Global Group Advances Post-Quantum Cybersecurity Strategy
Positive
Feb 25, 2026
On February 23, 2026, Reliance Global Group closed the initial phase of its acquisition of Enquantum Ltd., a post-quantum cryptography company developing hardware-accelerated, NIST-aligned quantum-resilient encryption solutions for high-performanc...
Business Operations and StrategyM&A Transactions
Reliance Global to Acquire Control of Enquantum Cybersecurity
Positive
Feb 10, 2026
On February 5, 2026, Reliance Global Group signed a share purchase agreement to acquire, over time and subject to milestones, a 51% controlling stake in Enquantum, a post-quantum cryptography firm focused on hardware-accelerated, NIST-aligned, qua...
Private Placements and FinancingRegulatory Filings and Compliance
Reliance Global Updates At-The-Market Equity Offering Program
Neutral
Feb 9, 2026
On February 6, 2026, Reliance Global Group filed Amendment No. 3 to its August 13, 2025 prospectus supplement with the U.S. Securities and Exchange Commission, updating its at-the-market offering of common stock under an existing agreement with H....
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.