Los Angeles Finance Co. Achieves Record Q3 Performance, Generates $209.6M, Eyes Strategic Growth In 2024
Portfolio Pulse from Joana Scopel
XS Financial Inc., a specialty finance company serving the U.S. cannabis industry, reported a strong Q3 performance with a 41% YoY increase in revenue and a 56% YoY increase in gross lease receivables. Despite these gains, the company experienced a net loss of $2.99 million, attributed to non-cash losses. Operational highlights include closing 16 new lease transactions. The CEO highlighted a focus on growth and a strong liquidity position with $21.4 million available for drawdown. Shares of XSHLF surged 34.29% to $0.047.
November 28, 2023 | 11:16 pm
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POSITIVE IMPACT
XS Financial Inc. reported a strong Q3 with significant revenue growth and operational achievements, despite a net loss due to non-cash items. The company's shares rose sharply by 34.29% following the report.
The positive revenue growth and operational milestones are likely to be viewed favorably by investors, despite the reported net loss, which was mainly due to non-cash items. The sharp increase in share price reflects investor optimism and the potential for continued growth, especially given the company's focus on expanding its customer base and optimizing its balance sheet.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100