Wed, Aug 14, 6:08 PM (153 days ago)
As of June 30, 2024, ATEL 16, LLC reported a net loss of $77,000 for Q2, a decline from a net income of $63,000 in the same quarter of 2023. Total operating revenues decreased by 8% to $555,000, primarily due to a reduction in operating lease revenue. Operating expenses increased by 19% to $631,000, driven by higher professional fees and taxes, partially offset by lower depreciation expenses. For the six months ending June 30, 2024, net losses amounted to $69,000, an improvement from $94,000 in 2023. Revenues remained steady at $1.1 million, with minor fluctuations in other revenue sources. Cash and cash equivalents decreased to $2.1 million from $3.2 million at year-end 2023. The company continues to distribute cash to members, totaling $1.5 million in both six-month periods. The financial outlook is cautious due to uncertainties around lessee defaults and equipment values, alongside potential economic fluctuations. The company maintains adequate liquidity but acknowledges risks related to its investment strategy and market conditions.