ATLANTICUS HOLDINGS Reports Q2 Financial Results for FY2023 on June 30th
August 12, 2023
🌥️Earnings Overview
ATLANTICUS HOLDINGS ($NASDAQ:ATLC) reported on June 30th 2023 their financial results for Q2 of FY2023, with total revenue for the quarter amounting to USD 65.0 million, a 19.3% decrease compared to the same period in the previous year. Net income for the quarter was recorded at USD 25.1 million, a 26.2% decrease from the same period a year ago.
Price History
The company’s stock opened the day at $36.2 and closed at $35.4, representing a decrease of 1.4% from their previous closing price of $35.9. The company’s stock price had been steadily increasing over the past few weeks, indicating a positive outlook for the upcoming quarter.
However, investors seemed to be spooked by the news of the financial results, sending the stock down 1.4%. ATLANTICUS HOLDINGS officials are confident that their long term growth strategy will help the company remain profitable despite any short-term market volatility. The company has also developed innovative products such as the ATLANTICUS Insights platform which provides customers real-time data on their spending habits. With a strong portfolio of investments and innovative products, ATLANTICUS HOLDINGS is well-poised to continue its success in the future. Live Quote…
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% |
Analysis
GoodWhale has completed an in-depth analysis of ATLANTICUS HOLDINGS‘s fundamentals and based on our Star Chart we classified it as a ‘sloth’ type of company. This indicates that the company is achieving revenue or earnings growth slower than the overall economy. ATLANTICUS HOLDINGS is strong in cash, medium in growth and weak in assets, dividend, and profitability. Our analysis of its health score concluded that ATLANTICUS HOLDINGS has an intermediate score of 5/10 considering its cashflows and debt. This suggests that the company is likely to pay off debt and fund future operations. Given its profile, ATLANTICUS HOLDINGS may appeal to value investors seeking a company with good capital management and solid cash position. Additionally, investors who generally look for a company with modest growth potential may also be attracted to ATLANTICUS HOLDINGS. More…
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
Investors should take note of ATLANTICUS HOLDINGS‘ recent financial results for Q2 FY2023, released on June 30th 2023. Total revenue decreased 19.3% compared to the same period the previous year, while net income dropped 26.2%. While this is concerning, investors should take into account external factors such as the COVID-19 pandemic and economic slowdown that may have influenced these figures. Going forward, investors should evaluate the company’s strategy to address these declines and its ability to return to growth.
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