Proprietary AI Platform Enhances Insurance Operations and Positions Company for Long-Term Growth

Company to Host Conference Call Today at 4:30 PM Eastern Time

LAKEWOOD, N.J., July 30, 2026 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: EZRA) ("we," "us," "our," the "Company" or "Reliance") today reported financial results for the second quarter ended June 30, 2026, while highlighting continued progress in the development and deployment of its proprietary artificial intelligence platform designed to enhance operational efficiency, automate complex workflows, and create new long-term growth opportunities.

Key Highlights

   -- Launched proprietary AI agent for secure browser automation, marking a 
      significant milestone in the Company's AI strategy. 
 
   -- Began deploying AI capabilities across Reliance's insurance operations to 
      improve workflow automation, productivity and customer service. 
 
   -- Continued expanding proprietary AI technologies designed to enhance both 
      internal operations and future commercial opportunities. 
 
   -- Continued delivering organic growth within the Company's retained 
      insurance operations following the divestiture of non-core businesses. 
 
   -- Reduced second quarter operating expenses by approximately 28% 
      year-over-year through continued operational efficiencies and disciplined 
      cost management. 
 
   -- Improved second quarter net loss by approximately 26% compared with the 
      prior-year period. 

Ezra Beyman, Chairman and Chief Executive Officer of Reliance Global Group, commented, "The second quarter marked an important milestone in our evolution as we continue transforming Reliance through the development of proprietary AI technologies. During the quarter, we accelerated the development of our AI platform and began deploying our secure browser automation technology across our insurance operations to improve productivity, streamline workflows and enhance customer service."

"We believe artificial intelligence represents a transformational opportunity for our Company. By combining our deep insurance industry expertise with advanced AI capabilities, we are building technology that has the potential to improve operating performance while creating valuable intellectual property. As we continue to develop, deploy and refine innovative AI solutions, we believe this strategy creates meaningful opportunities to strengthen our existing insurance operations while establishing a scalable technology platform capable of driving long-term growth and creating value for our shareholders."

Strategic Update

In July, Reliance announced the successful launch of its proprietary AI agent for secure browser automation. The AI solution is designed to securely automate complex web-based workflows while maintaining enterprise-grade security and compliance standards. The platform represents a significant milestone in the Company's ongoing strategy to leverage proprietary artificial intelligence to enhance operational performance, improve scalability and create new long-term growth opportunities.

The Company's AI platform is being deployed across Reliance's insurance operations, where it is expected to improve productivity, reduce manual processes and enhance customer service. By integrating the technology into its own operations, the Company expects to optimize internal workflows, reduce administrative burdens and further strengthen the efficiency of its insurance platform while continuing to refine the technology through real-world applications. Management believes the technology also has significant long-term commercialization potential beyond its internal applications.

Building on these capabilities, Reliance intends to expand the platform's functionality across additional business processes while continuing to invest in the development of proprietary AI technologies that complement its insurance operations. The Company believes its secure browser automation technology has broad applicability for enterprise customers operating in regulated industries that require secure, reliable and compliant workflow automation.

As Reliance continues to enhance its proprietary AI platform, management believes the technology has the potential to strengthen the Company's insurance operations, improve operating efficiency and create new long-term commercialization opportunities. By combining its deep insurance industry expertise with innovative AI capabilities, the Company believes it is well positioned to build a scalable technology platform that complements its core business, diversifies future revenue opportunities and creates long-term shareholder value. The Company remains focused on executing its core business strategy by growing its InsurTech and insurance operations while continuing to expand its proprietary AI platform.

2026 Second Quarter Financial Highlights

   -- Commission income was approximately $2.1 million, compared with 
      approximately $3.1 million for the second quarter of 2025. The decrease 
      primarily reflects the Company's previously announced divestitures of 
      certain non-core operations, partially offset by continued organic growth 
      within its retained insurance businesses. 
 
   -- Commission expense was approximately $0.8 million, compared with 
      approximately $1.0 million for the second quarter of 2025. The decrease 
      primarily reflects lower commission expense associated with the divested 
      operations. 
 
   -- Salaries and wages were approximately $1.5 million, compared with 
      approximately $2.6 million for the second quarter of 2025. The decrease 
      primarily reflects lower personnel costs following the divestitures 
      together with reduced non-cash share-based compensation expense. 
 
   -- General and administrative expenses were approximately $1.2 million, 
      compared with approximately $1.5 million for the second quarter of 2025. 
      The reduction was primarily attributable to cost efficiencies and reduced 
      operating expenses resulting from the Company's OneFirm operating model. 
      The comparison was also affected by Scale51 initiatives in 2026 and 
      acquisition activities in 2025. 
 
   -- Net loss attributable to Reliance Global Group improved to approximately 
      $2.0 million, compared with approximately $2.7 million for the second 
      quarter of 2025. The improvement was primarily driven by continued 
      operating efficiencies, lower non-cash share-based compensation expense 
      and reduced interest expense. 
 
   -- Adjusted EBITDA ("AEBITDA") a non-GAAP financial measure was a loss of 
      approximately $1.1 million, compared with a loss of approximately $0.4 
      million for the second quarter of 2025. The year-over-year change 
      primarily reflects lower non-GAAP adjustments in the second quarter of 
      2026 due to significantly lower non-cash share-based compensation expense, 
      together with lower interest expense and depreciation and amortization. 
      These factors were partially offset by the improvement in GAAP net loss. 
 
   -- Balance Sheet: 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. 

Conference Call

Reliance Global Group will host a conference call today at 4:30 p.m. Eastern Time to discuss its financial results and provide a business update.

The conference call will be available via telephone by dialing toll-free +1 888-506-0062 for U.S. callers or +1 973-528-0011 for international callers and entering access code 497505. A webcast of the call may be accessed at https://www.webcaster4.com/Webcast/Page/2381/54350 or on the investor relations section of the Company's website, https://relianceglobalgroup.com/events-and-presentations/.

A webcast replay will be available on the investor relations section of the Company's website at https://relianceglobalgroup.com/events-and-presentations/ through July 30, 2027. A telephone replay of the call will be available approximately one hour following the call, through August 13, 2026, and can be accessed by dialing +1 877-481-4010 for U.S. callers or +1 919-882-2331 for international callers and entering access code 54350.

About Reliance Global Group, Inc.

Reliance Global Group, Inc. (Nasdaq: EZRA) is an InsurTech company leveraging artificial intelligence, cloud computing and advanced technologies to transform the insurance agency/brokerage industry. Through its growing portfolio of proprietary AI solutions and insurance operations, the Company is focused on enhancing operational efficiency, improving customer experiences and creating long-term shareholder value.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are statements other than statements of historical fact and may be identified by the use of words or expressions such as "may," "should," "could," "would," "will," "expect," "anticipate," "intend," "plan," "believe," "estimate," "continue," "seek," "potential," "target," "project," "forecast," "outlook," or similar expressions, or by discussions of strategy, plans, or intentions.