AmeriTrust Reports Steady Revenue in Q3 2024

AmeriTrust Financial Technologies Inc., operating in the automotive finance sector, has released its financial performance for the third quarter of 2024. The company recorded a revenue of $514,144, which shows a slight decrease compared to $542,166 in Q2/2024 and $555,398 in Q3/2023. This revenue primarily stems from the servicing of their existing lease portfolio.

Despite the reduction in revenue, AmeriTrust has managed to lower its operating expenses through cost management initiatives, aligning with their growth strategy. The adjusted EBITDA loss has subsequently decreased.

Cash reserves were reported at $1,679,738 as of September 30, 2024, down from $2,220,567 at the end of June 2024. This figure incorporates cash collections from lease holders, marked as accounts payable.