RUNWAY GROWTH FINANCE Announces Third Quarter Earnings Results for FY2023
November 27, 2023
☀️Earnings Overview
RUNWAY GROWTH FINANCE ($NASDAQ:RWAY) announced on November 7 2023 that their total revenue for the third quarter of FY2023 (ending September 30 2023) had increased by 14.3% from the same time period last year to USD 16.3 million. At the same time, net income had seen a 26.5% year-over-year improvement to reach USD 14.8 million.
Share Price
At the start of the trading day, RUNWAY GROWTH FINANCE stock opened at $12.9 and closed at $13.0, representing an increase of 0.5% from their last closing price of $12.9. The financial results show overall positive growth for RUNWAY GROWTH FINANCE this quarter compared to the previous one. These figures demonstrate that the company is continuing to grow and expand its operations, despite any potential economic issues that may arise. The company’s stock price has experienced a steady rise, and many investors are hopeful that this trend will continue in the coming quarters.
Overall, the third quarter earnings report from RUNWAY GROWTH FINANCE has been encouraging and shows that the company is continuing to grow and expand its operations. Despite any potential economic issues that may arise, the company is still able to maintain a steady level of growth and success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for RWAY. More…
| Total Revenues | Net Income | Net Margin |
| 77.73 | 67.62 | 87.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for RWAY. More…
| Operations | Investing | Financing |
| -21.65 | – | 30.82 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for RWAY. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.03k | 463.7 | 14.08 |
Key Ratios Snapshot
Some of the financial key ratios for RWAY are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.0% | – | – |
| FCF Margin | ROE | ROA |
| -27.9% | 7.4% | 4.1% |
Analysis
GoodWhale’s analysis of RUNWAY GROWTH FINANCE’s fundamentals reveals that the company is classified as a ‘cheetah’ on the Star Chart; these companies have achieved high revenue or earnings growth, but are considered less stable because of lower profitability. This type of company may attract investors interested in capitalizing on the rapid growth potential, and may be willing to accept the associated risks. RUNWAY GROWTH FINANCE’s health score is 0 out of 10, indicating that the company is not in a strong position when it comes to cash flows and debt. This means that the company may be less likely to sustain its operations in times of crisis. RUNWAY GROWTH FINANCE has strong growth potential, medium dividend potential, and weak asset and profitability performance. However, these factors may not be enough to offset the low health score. More…
Peers
Its competitors include Sundaram Finance Ltd, PT Magna Finance Tbk, and PT Clipan Finance Indonesia Tbk.
– Sundaram Finance Ltd ($BSE:590071)
Sundaram Finance Ltd is an Indian non-banking financial company headquartered in Chennai, Tamil Nadu. Sundaram Finance is one of the largest non-banking financial services companies in India with over Rs 1 lakh crore in assets under management. The company offers a range of financial services including two wheeler and four wheeler loans, personal loans, home loans, commercial vehicle loans, SME loans, and agricultural loans.
– PT Magna Finance Tbk ($IDX:MGNA)
Magna Finance Tbk is a leading provider of finance and leasing services in Indonesia. The company offers a wide range of products and services, including consumer and corporate loans, financing for the purchase of motor vehicles, and leasing services. Magna Finance Tbk has a strong focus on providing quality customer service and has a well-established reputation in the Indonesian market. The company has a market cap of 50.15B as of 2022 and a Return on Equity of -21.02%.
– PT Clipan Finance Indonesia Tbk ($IDX:CFIN)
Clipan Finance Indonesia Tbk is one of the largest financial services companies in Indonesia with a market capitalization of 1.4 trillion as of 2022. The company offers a wide range of financial services including banking, insurance, asset management, and investment banking. Clipan Finance Indonesia Tbk has a strong focus on providing services to the retail and small and medium enterprise (SME) segments. The company has a return on equity of 9.09%.
Summary
RUNWAY GROWTH FINANCE has reported strong earnings results for the third quarter of FY2023, with total revenue of USD 16.3 million and net income of USD 14.8 million. This represents an impressive 14.3% year-over-year increase in revenue and a 26.5% improvement in net income. Investors should consider the attractive growth potential offered by RUNWAY GROWTH FINANCE, given their consistent and impressive quarterly performance. With results like these, RUNWAY GROWTH FINANCE is a solid choice for investors looking for reliable growth and returns.
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