Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
---|---|---|---|---|---|
Income Statement | |||||
Total Revenue | 47.05M | 79.70M | 43.40M | 47.59M | 33.90M |
Gross Profit | 47.05M | 79.00M | 42.57M | 46.66M | 32.89M |
EBITDA | 33.58M | 20.68M | 29.60M | 0.00 | 0.00 |
Net Income | -3.14M | -14.63M | 1.43M | 11.89M | 416.63K |
Balance Sheet | |||||
Total Assets | 413.88M | 513.48M | 491.76M | 520.11M | 384.91M |
Cash, Cash Equivalents and Short-Term Investments | 16.67M | 5.91M | 11.63M | 13.84M | 5.55M |
Total Debt | 313.52M | 414.05M | 368.06M | 397.94M | 274.47M |
Total Liabilities | 327.20M | 424.82M | 385.15M | 416.15M | 291.15M |
Stockholders Equity | 80.83M | 83.90M | 100.97M | 99.97M | 89.85M |
Cash Flow | |||||
Free Cash Flow | 60.17M | -51.35M | 31.33M | -101.73M | 23.33M |
Operating Cash Flow | 60.56M | -51.12M | 31.51M | -101.65M | 23.37M |
Investing Cash Flow | 60.25M | -236.00K | -175.00K | -83.25K | -43.47K |
Financing Cash Flow | -108.17M | 43.19M | -37.27M | 120.37M | -21.91M |
Accord Financial Corp. reported a challenging first quarter of 2025, with a net loss attributable to shareholders of $1.3 million, compared to a net gain in the previous year. Despite a 7.6% growth in finance receivables and loans, revenue declined due to lower average funds employed and yields. The company implemented cost-control measures, reducing overhead expenses, but faced a $2.6 million provision for credit losses. CEO Simon Hitzig highlighted strategic initiatives aimed at further streamlining operations and refinancing efforts, reflecting the company’s focus on navigating economic uncertainties and positioning for future growth.
Accord Financial has announced a significant development that could impact its operational capabilities and market positioning. The company has introduced a new initiative aimed at enhancing its service offerings, which is expected to strengthen its competitive stance and provide greater value to stakeholders.
Accord Financial reported its financial results for the fourth quarter and fiscal year 2024, highlighting a net loss of $3.1 million, an improvement from the previous year’s $14.6 million loss. Despite a challenging credit environment, the company successfully executed strategic initiatives, including the sale of its AEF lease financing portfolio, which helped streamline operations and improve revenue. The company aims to further strengthen its balance sheet through refinancing and potential non-core asset sales.