Thu, Nov 14, 7:25 PM (126 days ago)
For the quarter ending September 30, 2024, ATEL 17, LLC (ticker: N/A) reported a net loss of $62,000, a decrease from a loss of $141,000 in the same quarter of 2023. Operating revenues fell by 17% to $361,000, primarily due to a $120,000 decline in operating lease revenues, partially offset by a $46,000 gain from lease asset sales. Total operating expenses decreased by 24% to $429,000, driven by lower depreciation and professional fees. For the nine-month period, the net loss narrowed to $100,000 from $370,000 year-over-year, with total revenues rising by 6% to $1.387 million. This increase was mainly attributed to a $221,000 gain from lease asset sales. Operating expenses decreased by 10%, reflecting reduced depreciation and interest expenses. Cash and cash equivalents dropped to $217,000 from $1 million at year-end 2023. Operating cash flows remained positive, with $517,000 generated from operations. The company anticipates adequate liquidity for upcoming obligations, despite cash outflows from distributions and debt repayments totaling $1.612 million. Overall, ATEL 17, LLC is navigating challenges with a focus on managing expenses and optimizing asset sales.