Reliance Global Group Q3 revenue up 61% to $4.2M; net income $6.1M driven by warrant liability change

Reliance Global Group, Inc.

2022-Q3 EPS reported -$0.78 vs consensus -$728.28 ▲ beat (+99.9%)

Revenue for Q3 2022 was $4.2M, +61% YoY from $2.6M, driven by acquisitions and organic growth.
Net income of $6.1M vs loss of $595K in Q3 2021, primarily due to $7.9M change in fair value of warrant liabilities.
Operating expenses were $5.7M (incl. $1M non-cash/non-recurring) vs $3.1M YoY.
RELI Exchange platform now has 120 agency partners, up from 65 a few months ago; added referral partnership with NRS Funding.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Reliance Global Group, Inc. reported the three months ended September 30, 2022 results: revenue approximately $4.2 million, net income approximately $6.1 million.

Period: the three months ended September 30, 2022
Revenue: approximately $4.2 million
Net income: approximately $6.1 million
Result: reported results

Exact text from the filing

Revenue for the three months ended September 30, 2022, was approximately $4.2 million

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Reliance Global Group, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-22-032632

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