Wed, Aug 14, 6:10 PM (153 days ago)
ATEL 17, LLC's Q2 2024 financial report indicates a notable improvement in performance compared to Q2 2023. The company reported a net income of $63,000, reversing a net loss of $98,000 from the prior year. Total operating revenues increased by 37%, driven largely by a $165,000 gain from lease asset sales, a new revenue source not present in the previous year. Operating expenses remained stable at $531,000, with a slight rise in professional fees offset by reduced depreciation costs due to lease run-offs. For the six months ending June 30, 2024, net losses decreased to $38,000 from $229,000 in 2023, supported by a 17% revenue increase. Cash and cash equivalents decreased to $448,000 from $1 million, primarily due to consistent distributions and debt repayments. The company’s liquidity position appears adequate for immediate needs, but future cash flow management will be critical, especially given economic uncertainties impacting lease demand and equipment values. Overall, the company is navigating a challenging environment while maintaining operational stability and exploring new revenue streams.