Tue, May 14, 9:02 PM (73 days ago)
ATEL 16, LLC's quarterly report for the period ending March 31, 2024, indicates a net income of $8K, a significant improvement compared to the net loss of $157K in Q1 2023. The increase in net income is attributed to a 4% rise in operating revenues, primarily driven by higher operating lease revenue, and a 21% reduction in operating expenses. Depreciation expenses decreased due to lease portfolio run-off, and professional fees and taxes on income were also lower. Total assets decreased from $8.7M to $8.0M, mainly due to reduced cash and cash equivalents and depreciation of operating lease assets. Liabilities remained stable at $1.3M. Cash flow from operating activities was $396K, while financing activities used $835K, primarily for member distributions and debt repayments. The company’s liquidity is deemed sufficient for the next twelve months, supported by its operating lease portfolio. No significant commitments or contingencies were noted, and there were no off-balance sheet transactions. The company continues to maintain a disciplined approach to cost management and capital allocation.