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

MIAMI, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Luminar Media Group, Inc. (OTCMARKETS: LRGR), a small business revenue-based finance company with a focus on Hispanic and minority-owned businesses, has released its financial results for the 3rd Quarter of 2024. The report highlights substantial growth across key financial and operational metrics, further solidifying Fortun's expanding presence in providing essential capital to underserved markets.

Key Financial Highlights for Q3 2024:

Funding Volume:

Q3: $1,138,000

Forecasted: $1,108,700

Result: Surpassed Forecast

Receivables:

End of Q3: $1,428,281.47

Collected Receivables Q3: $352,729.33

Forecasted: $1,650,963  

Result: Surpassed Forecast

Revenue:

Q3: $307,211.00

Forecasted: $298,540 (Commission and Fee Income)

Result: Surpassed Forecast

Assets:

Total Assets End of Q3: $1,926,507

Cash on Hand: $498,226.39

Funding Metrics:                 o   July: $258,700                 o   August: $389,700 (51% MoM Growth)                 o   September: $489,600 (25% MoM Growth)                 o   Number of Deals Funded in Q3: 169                 o   Average Deal Size: $6,733                 o   Total States Funded Since Inception: 17 (76% of total funding-Florida)                 o   Industries Served: ...