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CCUR Holdings reported a net loss of $8.3 million, or $0.95 per diluted share, for Q2 FY2021, marking its first loss after seven consecutive profitable quarters.
Revenue fell to $1.2 million from $1.8 million year-over-year, primarily due to a 27% decrease in merchant cash advance revenue and a 56% decline in loan interest income. A significant provision for credit losses of $13.76 million on aviation advances contributed to an operating loss of $13.9 million. Despite these challenges, the company's balance sheet is strong, with $16.2 million in cash.