옥스브리지(OXBR) 2026년 2분기 실적 발표회: AI 그리드웍스 출시에 따른 수익성 회복

옥스브리지(Oxbridge)는 인식된 언더라이팅(보험인수) 손실 제로(0), 슈어런스플러스(SurancePlus) 수수료 수익, 전문 용역비 및 보수 비용 감소에 힘입어 2026년 2분기 흑자 전환을 기록했다고 밝혔다. 회사는 또한 토큰화된 재보험 플랫폼을 확장하고 AI 데이터 센터 인프라 추진을 위해 AI 그리드웍스(AI GridWorks)를 출범했다.

핵심 요약

• 2026년 2분기 순이익은 17만 6,000달러(기본 및 희석 주당순이익 0.02달러)로, 2025년 2분기의 187만 달러 순손실(주당 0.25달러 손실)과 대비된다.
• 경과순보험료가 58만 2,000달러에서 36만 8,000달러로 감소했음에도 불구하고 2분기 총매출은 66만 4,000달러에서 94만 달러로 증가했다.
• 2026년 2분기에는 언더라이팅 손실이 기록되지 않았다. 손해율은 394%에서 0%로 낮아졌으며, 합산비율은 621%에서 175.8%로 개선되었다.
• 슈어런스플러스는 솔라나(Solana) 블록체인상에서 2026~2027 재보험 연도를 위한 5개의 토큰화 재보험 상품 모집을 마감하여 총 710만 달러의 총 공모 금액을 유치했다.
• 2025~2026년 에타캣 리(EtaCat Re) 및 제타캣 리(ZetaCat Re) 상품은 각각 29.3%와 43.4%의 연환산 수익률을 기록해 당초 목표였던 20%와 42%를 상회했다.
• 옥스브리지는 미국 남동부 지역에서 초기 약 50메가와트(MW) 규모를 중심으로 10~100메가와트 규모의 AI 데이터 센터 프로젝트를 목표로 하는 AI 그리드웍스를 출범했다.

주요 재무 실적

2026년 6월 30일로 종료된 6개월 동안의 순이익은 19만 8,000달러(기본 및 희석 주당 0.02달러)로, 전년 동기의 201만 달러 순손실(주당 0.28달러 손실)에서 흑자 전환했다. 6개월간 매출은 130만 달러에서 150만 달러로 증가한 반면, 경과순보험료는 111만 달러에서 92만 4,000달러로 감소했다. 총비용은 420만 달러에서 120만 달러로 줄었다.

2026년 6월 30일 기준 제한된 현금 및 현금성 자산은 1,982만 달러를 기록해 2025년 12월 31일의 698만 달러에서 1,285만 달러 증가했다. 경영진은 신규 토큰화 증권 투자, 2025~2026 재보험 계약에서 해제된 담보금, 보험료 예치금 등이 이러한 변동의 원인이라고 설명했다.

사업 및 운영 실적

슈어런스플러스 토큰화 재보험

슈어런스플러스는 4개 연도 연속 재보험 모집을 완료했다. 이 플랫폼은 약 127만 개의 토큰화 증권을 발행했고, 여러 블록체인에 걸쳐 누적 1,600만 달러 이상의 총 공모 금액을 모금했으며, 토큰화 재보험 계약에 투입된 3,100만 달러 이상의 자본을 뒷받침했다.

2026~2027 재보험 연도에 회사는 솔라나에서 총 공모 금액 710만 달러 규모의 5개 공모 상품을 마감했다. 여기에는 언더라이팅 손실이 없다는 가정하에 각각 연 20%와 42%의 목표 수익률을 설정한 T20 및 T42 상품이 포함됐다.

3개 상품은 HCI 그룹(HCI Group) 및 포텍스 리(Fortex Re)와 관련된 제3자로부터 조성되었다. HCI Re 2026 시리즈 A는 연 224%, 시리즈 B는 122%, 시리즈 C는 17%의 연 수익률을 목표로 하며, 모두 언더라이팅 손실이 없음을 전제로 한다. 경영진은 이러한 추가 라인업이 슈어런스플러스가 옥스브리지 자체 재보험 사업 외에서 조성된 실물연계자산(RWA)도 토큰화할 수 있음을 입증한다고 밝혔다.

AI 그리드웍스

AI 그리드웍스는 AI 데이터 센터 및 관련 인프라를 개발, 소유, 운영하기 위해 설립되었다. 경영진은 초기 전략이 부지 확보, 전력 공급 용지(powered land) 개발, 그리고 초기 약 50메가와트를 중심으로 한 10~100메가와트 규모의 프로젝트 추진에 집중되어 있다고 밝혔다.

회사는 기가와트(GW) 규모의 대형 캠퍼스보다는 미국 남동부 지역을 목표로 하고 있다. 인프라 팀은 전략적 부동산, 전력 인프라, 데이터 센터 전반에 걸친 경험을 보유하고 있으며, 3기가와트에 가까운 전력 공급 용지 프로젝트에 참여한 이력이 있다. 경영진은 또한 메타(Meta) 데이터 센터 캠퍼스 5곳과 2.5기가와트 구축 용량을 다룬 팀의 경험을 강조했다.

옥스브리지는 슈어런스플러스의 역량을 활용해 AI 인프라 자산 지분 및 관련 수익 흐름을 구조화하고 토큰화할 계획이다. 경영진은 이를 물리적 인프라 소유권과 실물연계자산에 대한 광범위한 투자자 접근성을 결합하는 방안으로 보고 있다.

리스크 및 관전 포인트

• 옥스브리지가 재보험 계약에 투입한 자본을 줄이고 가중평균 요율이 낮아짐에 따라 경과순보험료가 감소했다.
• 손해율은 0%로 낮아졌으나, 2분기 사업비율과 합산비율은 175.8%를 유지했으며, 6개월 합산비율은 133.1%를 기록했다.
• 2026~2027년 토큰화 재보험 상품의 목표 수익률은 언더라이팅 손실이 없다는 가정을 전제로 한다. 과거 사례에 따르면 단 한 건의 보상한도 전액 손실만으로도 실적에 상당한 영향을 미칠 수 있다.
• 경영진에 따르면 AI 데이터 센터의 임차인 수요는 입지와 개발되는 시설의 유형에 따라 달라진다.
• AI 그리드웍스는 부지 선정, 인허가, 전력 확보, 건설, 운영, 자금 조달 전반에 걸친 실행력이 필요하다. 경영진은 몇 가지 전략적 옵션을 설명했으나 이를 완료된 프로젝트로 제시하지는 않았다.

애널리스트 Q&A 주요 내용

애널리스트들은 AI 그리드웍스의 프로젝트 규모, 임차인 전략, 자금 조달, 수직 계열화에 주목했다. 경영진은 옥스브리지가 기가와트 규모의 시설을 추진하기보다는 10~100메가와트 부문에서 경쟁할 계획이며, 임차인 선정은 부지 특성과 프로젝트 설계에 따라 달라질 것이라고 답했다.

경영진은 몇 가지 잠재적인 가치 창출 방안을 설명했다. 옥스브리지가 부지를 확보하고 인허가 및 전력 확약을 받은 뒤, 해당 전력 공급 용지 자산을 매각하거나 직접 건설을 진행할 수 있다. 개발이 완료되면 데이터 센터는 자체 GPU를 제공하는 임차인에게 개별 홀을 임대할 수 있으며, 옥스브리지가 다른 부분을 직접 운영할 가능성도 있다.

자금 조달과 관련해 경영진은 AI 그리드웍스가 전통적인 은행 대출과 더불어 슈어런스플러스를 통한 토큰화 실물자산 구조를 병행할 수 있다고 밝혔다. 회사는 토큰화를 통해 투자자가 플랫폼을 통해 자금세탁방지(AML) 및 고객확인제도(KYC) 절차를 완료하는 동시에 소액으로도 참여할 수 있을 것으로 보고 있다.

실적 발표 전화회의 전체 전문

전체 실적 발표 컨퍼런스 콜 녹취록

경영진 발표

Operator

Good afternoon. Welcome to Oxbridge's Second Quarter 2026 Earnings Call. My name is Irene, and I will be your conference operator this afternoon. [Operator Instructions] Joining us for today's presentation is Oxbridge's Chairman, President and Chief Executive Officer, Jay Madhu; and Chief Financial Officer and Corporate Secretary, Wrendon Timothy. Following their remarks, we will open up the call for your questions.

I would like to remind everyone that this call will be available via telephone replay until August 27, 2026. Details for telephone replay are included in the press release issued today.

Now I would like to turn the call over to Wrendon Timothy, Chief Financial Officer of Oxbridge, who will provide the necessary cautions regarding the forward-looking statements that will be made by management during this call.

Wrendon Timothy

Thank you, operator. During today's call, there will be forward-looking statements made regarding future events, including Oxbridge future financial performance. These forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995.

Words such as anticipates, estimates, expects, intends, plans, projects and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions, but rather are subject to various risks and uncertainties.

A detailed discussion of these risks and uncertainties that could cause actual results and events to differ materially from forward-looking statements is included in the section entitled Risk Factors contained in our Form 10-K filed on March 30, 2026, with the Securities and Exchange Commission.

The occurrence of any of these risks and uncertainties could have a material adverse effect on the company's business, financial conditions and the volatility of our earnings, which in turn can cause significant market price and trading volume fluctuations for our securities. Any forward-looking statements made on this conference call speaks only as of the date of this conference call.

And except as required by law, the company undertakes no obligation to update any forward-looking statements contained on this call or in any company presentation, even if the company's expectations or any related events, conditions or circumstances change.

Now I'd like to turn the call over to our Chairman, President and Chief Executive Officer, Jay Madhu. Jay?

Sanjay Madhu

Thank you, Wrendon, and welcome, everyone. Thank you for joining us today. Let me start by saying we are proud of the strong performance of our business and progress we are making on our long-term strategy.

During the second quarter and subsequent period, we continued to build on the growth of our tokenized reinsurance business, expanded the platform to include third-party opportunities and established a new AI infrastructure business focused on developing, owning and operating AI data centers and related infrastructure. Through SurancePlus, we have continued to build our track record on tokenized reinsurance. For the 2025, 2026 treaty year, our EtaCat Re and ZetaCat Re offerings targeted annual returns of 20% and 42%, respectively. We are pleased to report that these offerings exceeded their original targets, delivering annualized returns of 29.3% and 43.4%, respectively.

For the 2026 and 2027 treaty year, we successfully closed 5 tokenized reinsurance offerings on the Solana blockchain, raising $7.1 million in aggregated gross proceeds. These included a T20 and T42 offering with a current targeted annual return of 26% (sic) [ 20% ] and 32% (sic) [ 42% ], respectively, assuming no underwriting losses. The 5 offerings also included 3 third-party offerings associated with HCI Group, a leading Florida-based property and casualty insurance company and Fortex Re. HCI Re 2026 Series A targets an annual return of 242% (sic) [ 224%], HCI Re's 2026 Series B targets 122%, and HCI Re 2026 Series C targets 17% in each case, assuming no underwriting losses. This represents an important expansion of the SurancePlus platform beyond reinsurance originating through our own operations and demonstrates its ability to structure and tokenize reinsurance opportunities originated by third parties.

In parallel, we launched AI GridWorks, a newly formed Oxbridge subsidiary focused on developing, owning and operating AI data centers and related infrastructure. Since launching the initiative, we have moved quickly to assemble an experienced infrastructure team and advance our development pipeline. We believe SurancePlus and AI GridWorks provide Oxbridge with 2 distinct but complementary growth platforms, creating multiple avenues for long-term growth and shareholder value creation.

I will now turn the call over to Wrendon to take us through our financial results.

Wrendon Timothy

Thank you, Jay. I would like to remind you that our typical contract period is from June 1 to May 31 of the following year. Net income for the quarter ended June 30, 2026, was $176,000 or $0.02 basic and diluted income per share, compared to a net loss of $1.87 million or $0.25 basic and diluted loss per share for the quarter ended June 30, 2025. The increase in net income, decrease in net loss, is primarily due to a decrease in loss and loss adjustment expenses as there were no underwriting losses recorded for the period ended June 30, 2026. SurancePlus management fee income, along with reduced professional fees and overall compensation, contributed towards the net income results for the quarter.

Net income for the 6 months ended June 30, 2026, was $198,000 or $0.02 basic and diluted income per share compared to a net loss of $2.01 million or $0.28 per basic and diluted loss per share, for the 6 months ended June 30, 2025. The decrease in net loss is due primarily to a decrease in loss and loss adjustment expenses as there were no underwriting losses recorded for the period ended June 30, 2026. Again, SurancePlus management fee income, along with reduced professional fees and reduced overall compensation, contributed towards the improved result for the 6 months ended June 30, 2026.

Net premiums earned for the quarter ended June 30, 2026, decreased to $368,000 from $582,000 for the quarter ended June 30, 2025. The decrease is due to a lower weighted average rate on reinsurance contracts in force during the quarter as well as a lower amount of capital deployed into reinsurance contracts during the quarter when compared to the prior period.

Net premiums earned for the 6 months ended June 30, 2026 decreased to $924,000 from $1.11 million for the 6 months ended June 30, 2025. The decrease again is due to lower weighted average rate on reinsurance contracts in force during the 6-month period as well as a lower amount of capital deployed into reinsurance contracts during the 6-month period when compared with the prior period.

Our net investment income and other income for the 3 and 6 months ended June 30, 2026, decreased to $71,000 from $93,000 and $139,000 from $173,000, respectively, when compared with the prior comparable periods. Along with net premiums and management fee income, our total revenue for 3 and 6 months ended June 30, 2026, amounted to $940,000 and $1.5 million compared to $664,000 and $1.3 million in the prior year comparable period, respectively.

For the quarter ended June 30, 2026, total expenses, including policy acquisition costs and general and admin expenses, decreased to $647,000 from $3.6 million for the quarter ended June 30, 2025. The decrease is primarily due to no underwriting losses recognized for the quarter ended June 30, 2026. Reduced professional fees and reduced overall compensation also contributed to the decrease for the quarter.

For the 6 months ended June 30, 2026, total expenses decreased to $1.2 million from $4.2 million for the 6 months ended June 30, 2025. The decrease again is primarily due to no underwriting losses incurred and recognized for the period and reduced professional fees and reduced overall compensation also contributed towards the decrease.

As we have discussed before on our investor calls, we use various measures to analyze the growth and profitability of our business operations. For reinsurance business, we measure underwriting profitability by examining our loss ratio, acquisition ratio, expense ratio and combined ratio. The loss ratio is the ratio of losses and loss adjustment expenses incurred to premiums earned and measures the underwriting profitability of our reinsurance business. The loss ratio decreased to 0% from 394% for the quarter ended June 30, 2026, when compared with the comparable period. The decrease was due to no underwriting losses being recorded for the quarter, whereas a full limit loss was recognized for one of the reinsurance contracts during the 3-month period ended June 30, 2025.

The loss ratio also decreased to 0% from 194.8% for the 6-month period ended June 30, 2026, when compared with the prior comparative period. The decrease was due to no losses being recorded during the 6-month period ended June 30, 2026, again, whereas a full limit loss was recognized for one of our reinsurance contracts during the similar 6-month period ended June 30, 2025.

Our acquisition cost ratio, which measures operational efficiency, compares policy acquisition costs and net premiums earned. The acquisition cost ratio increased marginally to 12% from 11% for the quarter ended June 30, 2026, when compared to the prior comparable period. The increase in acquisition cost ratio is due to reduced net premiums earned and marginal premium adjustments recognized during the quarter ended June 30, 2026, when compared to the prior year comparable period.

The acquisition costs increased marginally to 11.4% from 11% for the 6-month period ended June 30, 2026, when compared with the prior comparable period. Again, the increase in acquisition cost was due to reduced net premiums earned and marginal premium adjustments recognized during the 6-month period ended June 30, 2026, when compared with the prior year comparable period.

Our expense ratio, which measures operating performance, compares policy acquisition costs and general admin expenses with net premiums earned. For the quarter ended June 30, 2026, the expense ratio decreased to 175.8% from 227% for the quarter ended June 30, 2025.

For the 6 months ended June 30, 2026, the expense ratio decreased to 133.1% from 160.7% for the 6-month period ended June 30, 2025. The decrease in both periods are primarily due to reduced professional fees and reduced overall compensation during the quarter when compared to the prior year comparable period.

Our combined ratio, which is used to measure underwriting performance, is the sum of the loss ratio and the expense ratio. For the 3 months ended June 30, 2026, the combined ratio decreased to 175.8% from 621% for the quarter ended June 30, 2025. The combined ratio also decreased to 133.1% from 355% for the 6-month period ended June 30, 2025. The decreases are primarily due to decreased underwriting losses as well as reduced professional fees and reduced overall compensation during the quarter and the 6-month period ended June 30, 2026, when compared with the prior comparable period.

Now turning to the balance sheet. Restricted cash and cash equivalents increased by $12.85 million to $19.82 million from $6.98 million as of December 31, 2025. The increase is the net result of the investment in new tokenized securities, the release of collateral from the 2025, 2026 reinsurance treaty contracts and premium deposits made during the 6 months ended June 30, 2026.

Now I'd like to turn the call back over to Jay, who will wrap up before we take your questions. Jay?

Sanjay Madhu

Thank you, Wrendon. As Wrendon mentioned, we have $19.82 million in restricted cash and cash equivalents as of June 30, 2026. Having said that, I would like to spend a few minutes looking ahead and expanding on how we see our 2 platforms developing.

First, SurancePlus. Since launching our reinsurance tokenization platform, SurancePlus has completed offerings across 4 consecutive treaty years, issuing approximately 1.27 million tokenized securities, raising more than $16 million in cumulative gross proceeds across multiple blockchain platforms, backing over $31 million of deployed capital in tokenized reinsurance contracts.

The addition of third-party reinsurance opportunities represents an important evolution of the platform. It demonstrates that SurancePlus can extend beyond reinsurance originated through Oxbridge and provide the infrastructure to structure and tokenize real-world assets originated by third parties. We believe this expands the potential of SurancePlus as we continue to develop our real-world asset strategies or RWAs.

Turning to AI GridWorks. AI GridWorks builds upon the broader RWA, or real-world asset, strategy we have established through SurancePlus. While SurancePlus has demonstrated our ability to structure and tokenize real-world assets, AI GridWorks expands our strategy into the development and ownership of the underlying physical infrastructure supported -- supporting the growth and artificial growth of artificial intelligence, or AI.

Our strategy is focused on identifying and securing strategic sites, developing powered land, and developing, owning and operating data centers infrastructure. We are initially targeting projects ranging from 10 to 100 megawatts with an initial focus around 50 megawatts, while maintaining flexibility to pursue larger opportunities when appropriate. To support this initiative, we have assembled an experienced AI infrastructure team with deep expertise across strategic real estate, site development, and power infrastructure and data centers. Our AI data center team brings experience originating close to 3 gigawatts of powered land opportunities.

On the infrastructure side, our leadership includes 7 years of data center infrastructure experience at Meta across 5 data center campuses, representing 2.5 gigawatts of deployed capacity, together with the extensive mission-critical infrastructure development experience. AI GridWorks is being developed first and foremost as an AI infrastructure business focused on developing, owning and operating the underlying physical infrastructure.

As AI GridWorks develops these assets, we intend to leverage the real-world asset structure, or RWA structuring and tokenization cap -- sorry, capabilities deployed by SurancePlus to tokenize interest in AI infrastructure assets and associated revenue streams. This creates a cohesive strategy for Oxbridge, developing and owning real estate assets while leveraging our established financial structure to structure and provide investor assets or access to those assets through tokenization.

We believe SurancePlus and AI GridWorks represent 2 complementary growth platforms for Oxbridge, providing multiple avenues for long-term growth and shareholder value creation. We create optionality at every stage of the data center value chain. Or put another way, this is a flexible, vertically integrated strategy. Our focus continues to remain on disciplined execution and creating long-term shareholder value.

With that, we are ready to open the call for questions. Operator, please provide the appropriate instructions.

Operator

[Operator Instructions] The first question we have is from Allen Klee of Maxim Group.

질의응답

Allen Klee

Good to hear from you guys and great to see all the steps going forward. For your AI data center initiatives, can you talk a little strategically of kind of what you're targeting, how you're thinking about like where it makes sense to do this and maybe the type of tenants and the type of -- I don't know, the type of like demand that it might be taking and any thoughts on the financing of it?

Sanjay Madhu

Wow, Allen, that's a lot to unpack over there with a small question. No, that's -- no, that's an absolutely perfect question, right? So our AI data centers, we're targeting -- we're not targeting gigawatt centers, right? We're, frankly, that's -- at this time, that's a step too far. What we are targeting is the nano data centers, 10 to 100 megawatts. That way, we have an opportunity to play in a space where we are not competing with some of the juggernauts in the space. We're targeting the Southeast of the U.S. The type of tenant will depend on, a, the location. It will also depend on the -- on various number of things over here.

But in talking to some of the larger AEC type companies, what we're finding is there is a significant amount of demand, but the demand is also dependent a little bit strategically, right? As part of this is what kind of data center you're building. But what we are doing and the way we look at this is flexibility. As we take down opportunities or as we look at opportunities, and we're looking at opportunity from the ground up, we have options and optionality. And the flexibility of that options and optionality gives us a better view of the potential tenant as that tenant develops or as that data center develops.

Operator

The next question we have is from Kent Engelke of Capitol Securities.

Kent Engelke

It seems like you guys always have a lot on the table. I think it's great all the activity you all are doing. Jay, can you expand a little bit more about on the optionality aspect? That's really interesting on a lot of different levels, especially on the vertical integration. Can you expand a little bit more on that?

Sanjay Madhu

Yes. Absolutely, Kent. So the way we are viewing our business, it's just not a publicly traded story, right? The story is a publicly traded company with deep experience in the -- in that realm. But then we've also deepened our bench with the execution team, the execution of the strategy. We have folks with deep subject matter knowledge, not only on the real estate side because this is a real estate play as well, but then also on the infrastructure side.

The infrastructure side, I have a gentleman that's been with Meta for the last 7.5 years. He's put together close to 3 gigawatts of AI data centers. So every step of the way, we have options. So hypothetically, as we go forward, I talked about real estate, as we move forward, there is a tremendous amount of value creation in getting -- in taking land and moving it into that next step where you have your entitlements that are put into place and you also have power that's your power letters. That creates a significant upside over there.

At that point, we have 2 options. We have a potential of either, a, moving forward and going vertical with the building or we can sell the asset. The multiple from where we start and where we would sell it is significant. The amount of value creation is significant. And we're going to be looking at multiple of these opportunities at any given time and moving forward with multiple of these opportunities at any given time. You take that step -- you take that one step further when you go vertical with this and you have your data center, you can section off your data center into data center halls, at which point you can simply be a landlord or you have tenants that come in over here because you have everything put together.

They will bring in their GPUs and you're off to the races. So you can have data center halls and you can put that strategy and a portion of that building, you can decide whether you want to be an operator of this data center and put in your own GPUs. So all along the way, there is not only value creation, but there's flexibility and the flexibility comes from every single step that we've taken from the ground up, making sure that we have not overcommitted or overpaid on any of these assets because we are controlling that value chain.

Now think about -- you asked about how does it play out with the -- with SurancePlus. I think it plays out beautifully in SurancePlus, right, because data centers are -- when you talk about RWA, it's a real-world asset. People understand data centers from good or bad, they understand data centers. They talk about the pluses, they talk about the minuses. It's a hot topic. But part of this hot topic over here is most people don't have an opportunity to invest in data centers because the dollar amounts that are used for an investor to come in, banks would want or investment houses or companies would want folks to write pretty significant checks.

SurancePlus, our other subsidiary, can fill that void. So not only can we raise capital through the traditional methods. Banks are looking at data centers hot and heavy. It's something that banks have -- there's huge opportunity for banks to come in over here and finance these things. But in addition, we have through, SurancePlus and our platform, people can come in with checks, with smaller size checks where we can do AML and KYC in close to 3 minutes, and they can wire in their funds or tokens or whatever it is that they're going to be sending in and now have a piece of a data center. So multiple levers to deploy in -- not only in financing these opportunities, but also multiple levers to deploy and making sure that both our businesses are very complementary to doing what we're looking to get done as we move forward.

Kent Engelke

So if I heard you correctly, you could use RWAs for part of the financing and raising funds and stuff like that, that's how the individual could actually own part of the data center itself.

Sanjay Madhu

Absolutely, absolutely. And I think it also helps a little bit to the story. I'm not saying it's the end all be all, but it helps in the story about folks, the popular acronym now is NIMBY, not in my backyard. It might help with that rhetoric when people see that they actually own or have an opportunity to own that piece of real estate or that data center, and it's part of their thought process, their investment strategy, tokenization.

Kent Engelke

Bring them in and let them share with some of the wealth.

Sanjay Madhu

Absolutely. Absolutely.

Operator

[Operator Instructions] At this time, this concludes our question-and-answer session. I'd now like to turn the call back over to Mr. Madhu for his closing remarks.

Sanjay Madhu

Thank you for joining us on today's call. We appreciate everyone joining us today on our -- and your continued interest in Oxbridge. We are excited about the opportunities ahead and the potential we see across both SurancePlus and AI GridWorks. We believe we have established a strong foundation for the next phase of Oxbridge's growth. Our priorities are clear, and our focus remains on disciplined execution across both businesses and creating long-term shareholder value, options and optionality, real-world assets, SurancePlus and AI GridWorks. We look forward to updating you on our progress. Thank you again for your time today. Operator?

Operator

Before we conclude today's call, I would like to remind everyone that a recording of today's call will be available for replay via a link available in the Investors section of the company's website. Thank you for joining us today for our presentation. You may now disconnect.