AmeriTrust Financial Technologies (AMT) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue was $514,144, remaining relatively stable compared to Q2 2024 and Q3 2023.

• Revenue primarily derived from servicing the existing lease portfolio.

• Adjusted EBITDA loss decreased in Q3 2024, reflecting cost management efforts.

Financial highlights

• Q3 2024 revenue: $514,144; Q2 2024: $542,166; Q3 2023: $555,398.

• Gross profit for Q3 2024: $232,827, down from $252,586 in Q3 2023.

• Net loss for Q3 2024: $(1,847,089), compared to net income of $96,002 in Q3 2023.

• Adjusted EBITDA for Q3 2024: $(1,300,215), improved from $(1,783,955) in Q3 2023.

• Cash on hand as of September 30, 2024: $1,679,738, down from $2,220,567 as of June 30, 2024.

Outlook and guidance

• Management is focused on maintaining minimal operating expenses to support planned growth.

• Forward-looking statements caution that actual results may differ due to risks and uncertainties.