Reliance Global Group, Inc.

For Q2 2026, commission income was $2.1 million versus $3.1 million in the prior-year quarter. Commission expense declined to $0.8 million from $1 million, salaries and wages fell to $1.5 million from $2.6 million, and general and administrative expenses decreased to $1.2 million from $1.5 million. Net loss attributable to Reliance Global Group improved to $2 million from $2.7 million, and adjusted EBITDA was a loss of $1.1 million versus a loss of $0.4 million a year ago. On the balance sheet, the company reported $1.8 million of combined cash and restricted cash, $0.8 million of unrestricted cash, $1.2 million of working capital, and $6.6 million of stockholders' equity. No formal next-quarter or full-year financial guidance was provided; management instead said the AI platform may begin generating revenue in 6 to 9 months and is already contributing to expense reduction.

Ezra Beyman framed the quarter as evidence that the company has simplified operations, strengthened the balance sheet, and built a more focused insurance business. He emphasized the strategic shift toward a technology-driven insurance company, highlighting the hiring of a COO and CTO and the promotion of an EVP to support execution. His tone was highly optimistic on AI, saying the company is seeing real-time automation of tasks that used to require human intervention and that the platform could create both efficiency gains and future commercialization opportunities.

Joel Markovits focused on the numbers and the impact of the portfolio realignment. He pointed to $2.1 million of commission income, lower commission expense of $0.8 million, salaries and wages of $1.5 million, G&A of $1.2 million, and net loss improvement to $2 million. He said the year-over-year changes were driven by divestitures, lower non-cash share-based compensation, reduced interest expense, and operating efficiencies, while reiterating disciplined capital allocation and investment in long-term initiatives.

Analysts asked for the next major AI milestones over the next 6 to 12 months and when the platform might generate revenue. Beyman said the team is seeing frequent breakthroughs and hinted that there are additional things not yet being discussed, but did not give a detailed milestone roadmap. On monetization, he said revenue could come in 6 to 9 months, possibly sooner, and noted that cost savings are already occurring because AI is handling tasks previously done by employees.