Reliance Global Group (EZRA) Q4 2025 earnings summary

Executive summary

• 2025 marked a strategic transformation, expanding from insurance into a technology-driven growth platform via EZRA International Group and the Scale 51/Scale51 model.

• Launched investments in Enquantum (post-quantum encryption) and signed a term sheet to acquire a majority stake in Scentech Medical (AI diagnostics).

• Executed a portfolio realignment, divesting non-core subsidiaries including Fortman Insurance Services, Employee Benefits Solutions, and U.S. Benefits Alliance to focus on high-growth technology and insurtech opportunities.

• Strengthened balance sheet through divestitures, reducing debt and improving financial flexibility.

• NASDAQ ticker was changed from RELY to EZRA to reflect the new strategic direction.

Financial highlights

• Unrestricted cash increased 250% year-over-year to $1.3 million at year-end 2025.

• Working capital rose 351% to $1.9 million; stockholders' equity grew 114% to $6.4 million.

• Commission income was $12.4 million, down from $14.1 million in 2024 due to divestitures and portfolio realignment.

• Net loss improved to $7 million from $9.1 million in 2024, reflecting gains from asset sales and no impairment charges.

• Adjusted EBITDA loss widened to $1.6 million from $0.3 million, mainly due to revenue fluctuations and higher operating costs post-realignment.

Outlook and guidance

• Scale 51 strategy will focus on acquiring meaningful stakes in innovative, near-revenue technology companies, with milestone-based investment structures.

• Plans to continue expanding the technology platform through EZRA International Group while maintaining disciplined capital allocation.

• Enquantum is expected to potentially generate revenue as early as late 2025.

• Continued focus on leveraging insurance platform stability while expanding into high-growth tech sectors and enhancing operational efficiency.