Reliance Global Group, Inc. (NASDAQ: EZRA) reported a net loss attributable to the company of approximately $2.0 million for the second quarter ended June 30, 2026, marking an improvement of approximately 26% from the approximately $2.7 million loss recorded in the same period last year. The financial results reflect disciplined cost management and continued organic growth within retained insurance operations following the divestiture of non-core businesses. Strategically, the company advanced its artificial intelligence transformation by launching a proprietary AI agent designed for secure browser automation.

The improvement in net loss was primarily driven by lower non-cash share-based compensation expense, reduced interest expense, and broader operating efficiencies. Commission income declined to approximately $2.1 million from approximately $3.1 million in the second quarter of 2025, a decrease attributed to the previously announced divestitures of certain non-core operations. This reduction was partially offset by organic growth within the company’s retained insurance businesses. Commission expense also fell to approximately $0.8 million from approximately $1.0 million year-over-year, reflecting lower costs associated with the divested entities.

Operating expenses demonstrated significant contraction, with salaries and wages dropping to approximately $1.5 million from approximately $2.6 million in the prior-year quarter. This decline resulted from lower personnel costs post-divestiture and reduced non-cash share-based compensation. General and administrative expenses decreased to approximately $1.2 million from approximately $1.5 million, driven by cost efficiencies under the OneFirm operating model. The comparison was further affected by Scale51 initiatives in 2026 and acquisition activities in 2025.

Financial Performance Table

Adjusted EBITDA (AEBITDA), a non-GAAP measure, widened to a loss of approximately $1.1 million from a loss of approximately $0.4 million in the second quarter of 2025. The year-over-year change primarily reflects lower non-GAAP adjustments in the current quarter due to significantly lower non-cash share-based compensation, reduced interest expense, and lower depreciation and amortization. These factors were partially offset by the improvement in GAAP net loss.

What the Numbers Show

The divergence between the improving GAAP net loss and the widening Adjusted EBITDA loss highlights the significant impact of non-cash items on the company’s reported profitability. While operational cash flows improved due to lower expenses, the AEBITDA metric excludes substantial non-cash charges such as share-based compensation, which dropped sharply year-over-year. This suggests that while core operational cash burn is decreasing, the underlying adjusted earnings power remains under pressure, requiring sustained execution of cost-cutting measures and successful commercialization of its new AI technologies to achieve positive adjusted earnings.

Strategic AI Deployment

In July, Reliance announced the successful launch of its proprietary AI agent for secure browser automation. The platform is designed to automate complex web-based workflows while maintaining enterprise-grade security and compliance standards. Management is deploying this technology across its insurance operations to improve productivity, reduce manual processes, and enhance customer service. By integrating the technology internally, the company aims to optimize workflows and refine the platform through real-world applications before pursuing broader commercialization. Ezra Beyman, Chairman and Chief Executive Officer, stated that combining deep insurance industry expertise with advanced AI capabilities creates valuable intellectual property and scalable technology platforms capable of driving long-term growth.

As of June 30, 2026, the company reported cash of approximately $0.8 million, combined cash and restricted cash of approximately $1.8 million, working capital of approximately $1.2 million, and stockholders’ equity of approximately $6.6 million. Reliance Global Group will host a conference call on July 30, 2026, at 4:30 p.m. Eastern Time to discuss these results and provide a business update.

Reliance Global Group, Inc. has launched a proprietary AI agent built for secure browser automation in regulated insurance back-office operations. The technology is designed to automate thousands of repetitive tasks, such as service requests and endorsements, while operating within a security framework that ensures regulatory compliance. This launch marks a key milestone in the company's strategy to build an AI-powered insurance platform.

The AI agent is built around control and accountability, managing login credentials and governing every browser interaction through defined policies. Unlike general-purpose web agents that prioritize autonomy, Reliance's solution limits actions to predefined controls and requires human review for consequential decisions. This approach mitigates risks such as incorrect policy actions or exposure of sensitive information.

Key Features and Capabilities

The platform includes several enterprise-grade capabilities tailored for regulated environments:

Deployment and Commercialization

Reliance is deploying the agent across its network of insurance agencies to improve operating efficiency and accelerate the integration of acquired agencies. The company expects the platform to become a valuable component of its technology ecosystem as additional carrier portals and workflows are added. Future plans include expanding beyond insurance to support broader regulated enterprise use cases.

The company intends to commercialize the platform through multiple tiers, including a free developer tier, a Team workspace, and an Enterprise plan. The Enterprise offering will include self-hosted and virtual private cloud (VPC) deployment options. All tiers will feature core security controls, human review capabilities, and an audit-ready reporting framework.

"Every agency we bring onto the platform comes with thousands of hours of repetitive portal work. This agent allows us to absorb that work without scaling headcount while maintaining the controls required in insurance operations," said Judah Korman, Chief Operating Officer of Reliance Global Group.

"Most AI agents built for the browser are designed to maximize what they can do independently. We built ours to maximize what it can do while keeping organizations in control," said Zack Wilder, Chief Technology Officer of Reliance Global Group.