RELI - Reliance Global Group sees Q2 revenue to get doubled

• CEO of Reliance Global Group ( NASDAQ: RELI ) Ezra Beyman said the company expects its second quarter's revenue to approximately double up on year-on-year basis attributable to the growth recorded in recently acquired Barra & Associates and Medigap.
• "This growth is due in part to the acquisitions of Barra & Associates and Medigap . Importantly, both of these businesses are experiencing strong organic growth since we acquired them earlier this year, further validating our buy-and-build strategy, as well as our ability to acquire cash flow positive agencies at attractive multiples," Beyman said.
• At the same time, we are experiencing steady growth in Medigap. In July of 2022 alone, Medigap recorded nearly 800 new policies, an increase of more than 20% compared to January of 2022, the month in which we acquired them....Overall, we remain highly encouraged by the outlook for the business and look forward to providing further updates on our progress, the insurance broker's chief added.
• Stock is up 2.44% in premarket trading .
• Quick look through RELI's Q1 Results.

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