ATLANTICUS HOLDINGS Reports 19.3% Decrease in Total Revenue for Q2 FY2023
August 21, 2023
🌥️Earnings Overview
On June 30 2023, ATLANTICUS HOLDINGS ($NASDAQ:ATLC) released their earnings report for the second quarter of FY2023. Total revenue was reported to be USD 65.0 million, a 19.3% drop from the same quarter in the previous year. Net income was at USD 25.1 million, 26.2% lower than the same period in the prior year.
Analysis
GoodWhale’s analysis on ATLANTICUS HOLDINGS’s fundamentals shows that the company is strong in terms of its fundamentals, medium in terms of growth, and weak in asset, dividend, and profitability. As such, the company has been classified as a “sloth”, indicating that it has achieved revenue or earnings growth slower than the overall economy. As a result, investors who are looking for a low risk option with slow but steady growth may be interested in ATLANTICUS HOLDINGS. Additionally, with an intermediate health score of 4/10 considering its cashflows and debt, investors can rest assured that ATLANTICUS HOLDINGS is likely to safely ride out any crisis without the risk of bankruptcy. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Atlanticus Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 254.57 | 82.73 | 42.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Atlanticus Holdings. More…
| Operations | Investing | Financing |
| 367.08 | -680.78 | 261.25 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Atlanticus Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.45k | 2.05k | 27.89 |
Key Ratios Snapshot
Some of the financial key ratios for Atlanticus Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -13.7% | – | – |
| FCF Margin | ROE | ROA |
| 141.2% | 21.4% | 3.4% |
Peers
In recent years, the competition between Atlanticus Holdings Corp and its main competitors – ECN Capital Corp, Wealthy Way Group Ltd, and Quanzhou Huixin Micro-credit Co Ltd – has intensified. While Atlanticus Holdings Corp has been able to maintain its position as the market leader, its competitors have been closing the gap, thanks to their strong focus on innovation and customer service.
– ECN Capital Corp ($TSX:ECN)
ECN Capital Corp is a Canada-based company, which is engaged in providing financing solutions for businesses operating in a range of industries. The company operates through four segments: Equipment Finance, Rail Finance, Aviation Finance and Corporate. The Equipment Finance segment provides financing solutions to businesses for the purchase of equipment. The Rail Finance segment provides financing solutions to railroads and other businesses for the purchase of locomotives and rolling stock. The Aviation Finance segment provides financing solutions to businesses for the purchase of aircraft. The Corporate segment includes the company’s central operations.
– Wealthy Way Group Ltd ($SEHK:03848)
Wealthy Way Group Ltd is a publicly traded company with a market capitalization of 964.55M as of 2022. The company has a ROE of 7.02%. Wealthy Way Group Ltd is engaged in the business of providing financial planning and investment advisory services to individuals, families and businesses.
– Quanzhou Huixin Micro-credit Co Ltd ($SEHK:01577)
Quanzhou Huixin Micro-credit Co Ltd is a Chinese micro-credit company with a market capitalization of 428.4 million as of 2022. The company offers micro-loans to small businesses and individuals in China.
Summary
ATLANTICUS HOLDINGS reported total revenue for the second quarter of FY2023 was USD 65.0 million, a 19.3% decrease from the same period in the previous year. Net income for the same period decreased 26.2%, which is indicative of a declining financial performance. Investors should consider this when deciding whether to invest in the company, as the current trend suggests profitability is decreasing. It will be important to monitor the company’s financials for the upcoming quarters to determine whether these trends will continue.
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