Reliance Global Group (EZRA) Q4 2025 earnings summary

Executive summary

• 2025 marked a strategic transformation with the launch of EZRA International Group and Scale 51, expanding into technology-driven sectors such as cybersecurity, AI, fintech, and digital health.

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

• Initial investments included Enquantum (post-quantum encryption) and a term sheet to acquire a majority stake in Scentech Medical (AI-driven breath diagnostics).

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

• Insurance and InsurTech operations generated over $12 million in commission income, providing a stable foundation for expansion.

Financial highlights

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

• Working capital increased 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.

• 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 post-divestiture and higher operating costs.

Outlook and guidance

• Scale 51 strategy targets investments in innovative, near-revenue technology companies, with milestone-based funding.

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

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

• Focus remains on enhancing operational efficiency in insurance and InsurTech, and scaling technology investments.

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