Mill City Ventures III, Ltd. Reports 2024 Full Year Financial Results
Mill City Ventures III (Nasdaq: MCVT) reported its full-year 2024 financial results, showcasing significant improvements in several key metrics. The non-bank lender achieved a net investment gain of $1.33 million, reversing a $420,000 loss from 2023. Investment income remained stable at $3.30 million.
The company demonstrated strong cost management, reducing operating expenses by 47% to $1.98 million in 2024 from $3.72 million in 2023. While loan revenue slightly decreased to $2.76 million from $2.84 million, the company strategically shifted to fewer but larger loans, processing 10 loans in 2024 compared to 26 in 2023.
A notable achievement was the substantial increase in cash reserves, which grew from $376,000 in 2023 to $6.03 million in 2024, strengthening the company's liquidity position.
Mill City Ventures III (Nasdaq: MCVT) ha riportato i risultati finanziari completi per l'anno 2024, evidenziando miglioramenti significativi in diversi indicatori chiave. Il prestatore non bancario ha ottenuto un guadagno netto sugli investimenti di 1,33 milioni di dollari, invertendo una perdita di 420.000 dollari del 2023. Il reddito da investimenti è rimasto stabile a 3,30 milioni di dollari.
L'azienda ha dimostrato una forte gestione dei costi, riducendo le spese operative del 47% a 1,98 milioni di dollari nel 2024, rispetto ai 3,72 milioni di dollari del 2023. Sebbene i ricavi da prestiti siano leggermente diminuiti a 2,76 milioni di dollari rispetto ai 2,84 milioni di dollari, l'azienda ha strategicamente optato per prestiti meno numerosi ma di maggiore entità, elaborando 10 prestiti nel 2024 rispetto ai 26 del 2023.
Un risultato notevole è stato il sostanziale incremento delle riserve di liquidità, che sono passate da 376.000 dollari nel 2023 a 6,03 milioni di dollari nel 2024, rafforzando la posizione di liquidità dell'azienda.
Mill City Ventures III (Nasdaq: MCVT) informó sus resultados financieros del año completo 2024, mostrando mejoras significativas en varios indicadores clave. El prestamista no bancario logró un ganancia neta de inversión de 1.33 millones de dólares, revertiendo una pérdida de 420,000 dólares de 2023. Los ingresos por inversiones se mantuvieron estables en 3.30 millones de dólares.
La empresa demostró una sólida gestión de costos, reduciendo los gastos operativos en un 47% a 1.98 millones de dólares en 2024 desde 3.72 millones de dólares en 2023. Aunque los ingresos por préstamos disminuyeron ligeramente a 2.76 millones de dólares desde 2.84 millones de dólares, la empresa cambió estratégicamente a préstamos menos numerosos pero de mayor tamaño, procesando 10 préstamos en 2024 en comparación con 26 en 2023.
Un logro notable fue el aumento sustancial en las reservas de efectivo, que crecieron de 376,000 dólares en 2023 a 6.03 millones de dólares en 2024, fortaleciendo la posición de liquidez de la empresa.
밀 시티 벤처스 III (Nasdaq: MCVT)는 2024년 전체 연도 재무 결과를 발표하며 여러 주요 지표에서 상당한 개선을 보여주었습니다. 비은행 대출자는 133만 달러의 순 투자 이익을 달성하여 2023년의 42만 달러 손실을 만회했습니다. 투자 수익은 330만 달러로 안정적으로 유지되었습니다.
회사는 비용 관리가 뛰어나, 2023년 372만 달러에서 2024년 198만 달러로 운영 비용을 47% 줄였습니다. 대출 수익은 284만 달러에서 276만 달러로 약간 감소했지만, 회사는 전략적으로 더 적지만 더 큰 대출로 전환하여 2024년에는 10건의 대출을 처리했으며, 2023년에는 26건이었습니다.
주목할 만한 성과는 현금 보유액의 상당한 증가로, 2023년 37만 6천 달러에서 2024년 603만 달러로 증가하여 회사의 유동성 위치를 강화했습니다.
Mill City Ventures III (Nasdaq: MCVT) a annoncé ses résultats financiers pour l'année complète 2024, mettant en avant des améliorations significatives dans plusieurs indicateurs clés. Le prêteur non bancaire a réalisé un gain net d'investissement de 1,33 million de dollars, inversant une perte de 420 000 dollars de 2023. Les revenus d'investissement sont restés stables à 3,30 millions de dollars.
L'entreprise a démontré une gestion des coûts solide, réduisant les dépenses d'exploitation de 47 % à 1,98 million de dollars en 2024, contre 3,72 millions de dollars en 2023. Bien que les revenus des prêts aient légèrement diminué à 2,76 millions de dollars contre 2,84 millions de dollars, l'entreprise a stratégiquement opté pour moins de prêts, mais de plus grande taille, en traitant 10 prêts en 2024 contre 26 en 2023.
Un résultat notable a été l'augmentation substantielle des réserves de liquidités, qui sont passées de 376 000 dollars en 2023 à 6,03 millions de dollars en 2024, renforçant ainsi la position de liquidité de l'entreprise.
Mill City Ventures III (Nasdaq: MCVT) hat seine Finanzzahlen für das gesamte Jahr 2024 veröffentlicht und dabei signifikante Verbesserungen in mehreren wichtigen Kennzahlen gezeigt. Der Nicht-Banken-Kreditgeber erzielte einen netto Investitionsgewinn von 1,33 Millionen Dollar und wendete einen Verlust von 420.000 Dollar aus 2023 um. Die Erträge aus Investitionen blieben stabil bei 3,30 Millionen Dollar.
Das Unternehmen zeigte ein starkes Kostenmanagement, indem es die Betriebskosten um 47% auf 1,98 Millionen Dollar im Jahr 2024 von 3,72 Millionen Dollar im Jahr 2023 senkte. Während die Darlehensumsätze leicht auf 2,76 Millionen Dollar von 2,84 Millionen Dollar sanken, wechselte das Unternehmen strategisch zu weniger, aber größeren Darlehen und bearbeitete 10 Darlehen im Jahr 2024 im Vergleich zu 26 im Jahr 2023.
Eine bemerkenswerte Leistung war der erhebliche Anstieg der Bargeldreserven, die von 376.000 Dollar im Jahr 2023 auf 6,03 Millionen Dollar im Jahr 2024 wuchsen und die Liquiditätsposition des Unternehmens stärkten.
- Achieved $1.33M net investment gain, reversing previous year's loss
- Reduced operating expenses by 47% to $1.98M
- Increased cash reserves by 1504% to $6.03M
- Successfully implemented higher-yield loan strategy
- Slight decrease in loan revenue from $2.84M to $2.76M
- Reduced number of processed loans from 26 to 10
MINNEAPOLIS, MN / ACCESS Newswire / March 10, 2025 / Mill City Ventures III, Ltd. (Nasdaq:MCVT) ("Mill City" or the "Company"), a non-bank lender and specialty finance company, today announced its financial results for the full year ended December 31, 2024.
Full Year 2024 Highlights:
Net Investment Gain:
$1.33 million for 2024, marking a positive turnaround from a$(420,000) loss in 2023.Investment Income:
$3.30 million in 2024, consistent with$3.29 million in 2023.Operating Expenses: Decreased significantly from
$3.72 million in 2023 to$1.98 million in 2024, driven by reductions in stock-based compensation, legal expenses, and director fees.Loan Revenue:
$2.76 million from 10 loans in 2024, compared to$2.84 million from 26 loans in 2023, reflecting a strategic shift to larger, higher-yielding loans.Cash Reserves: Strengthened significantly, rising from
$376,000 in 2023 to$6.03 million in 2024.
Mill City Chief Executive OfficerDouglas M. Polinsky stated, "2024 was a transformative year for Mill City as we significantly improved our financial position, reduced operating costs, and refined our lending strategy. By focusing on fewer but higher-value loans, we enhanced our ability to generate sustainable returns while strengthening liquidity. Our investment in our primary borrower, along with other strategic refinancings, positions us well for continued growth. With strong cash reserves and a disciplined approach to capital deployment, we are confident in our ability to drive shareholder value in 2025 and beyond."
About Mill City Ventures III, Ltd.
Founded in 2007, Mill City Ventures III, Ltd. is a short-term non-bank lending and specialty finance company. Additional information can be found at www.sec.gov.
Forward-Looking Statements and Safe Harbor Notice
All statements other than statements of historical facts included in this press release are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking statements include our expectations and those statements that use forward-looking words such as "projected," "expect," "possibility" and "anticipate." The achievement or success of the matters covered by such forward-looking statements involve significant risks, uncertainties and assumptions. Actual results could differ materially from current projections or implied results. Investors should carefully read the risk factors set forth in the Company's prospectus on Form 10-K filed with the SEC on March 7, 2025, subsequent filings and future periodic reports filed with the SEC. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements.
The Company cautions that statements and assumptions made in this press release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. The information set forth herein speaks only as of the date hereof. The Company and its management undertake no obligation to revise these statements following the date of this news release, other than as required by law.
Investor Contact:
Joseph A. Geraci
Chief Financial Officer
Mill City Ventures III, Ltd.
Email:jg@millcityventures3.com
Phone: 612-868-5815
SOURCE: Mill City Ventures III Ltd.
View the original press release on ACCESS Newswire
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