Luminar Media Group/ Fortun Reports 3rd Quarter Results, Surpassing Forecasts and Demonstrating Impressive Growth

Core Insights - Luminar Media Group, Inc. reported significant growth in its financial results for Q3 2024, emphasizing its commitment to providing capital to underserved markets, particularly Hispanic and minority-owned businesses [1][3] Financial Highlights - Funding Volume for Q3 2024 reached $1,138,000, surpassing the forecast of $1,108,700 [2] - Receivables at the end of Q3 totaled $1,428,281.47, with collected receivables for the quarter amounting to $352,729.33, also exceeding the forecast of $1,650,963 [2] - Revenue for Q3 was $307,211.00, surpassing the forecast of $298,540 [2] - Total Assets at the end of Q3 were $1,926,507, with cash on hand of $498,226.39 [2] - The company funded 169 deals in Q3, with an average deal size of $6,733 [2] Operational Metrics - Monthly funding metrics showed growth: July at $258,700, August at $389,700 (51% MoM growth), and September at $489,600 (25% MoM growth) [2] - The company has funded businesses across 35 industries, with the top three being Trucking/Transport (23.34%), Construction (18.14%), and Auto Sales/Repair (13.2%) [2] Strategic Outlook - The company aims to create long-term value by expanding its funding operations, focusing on Hispanic-owned and underserved small businesses [3] - Despite challenges from Hurricane Helene affecting Florida, the company met all its goals for the quarter and remains committed to supporting local communities [4]