Business
EQS-News: Luminar Media Group/Fortun Releases Q1 2025 Financial Results
EQS-News: Luminar Media Group/Fortun Releases Q1 2025 Financial Results.
About this update from Luminar Media Group, Inc.
[{"type":"text","content":"\n\n\n\n\t\n\n\n\n\n\n\n\n\n\nEQS-News: FortunCo, LLC\n\n\n / Key word(s): Financial\n\n\n\n\n\nLuminar Media Group/Fortun Releases Q1 2025 Financial Results 02.04.2025 / 15:05 CET/CEST\n\n\n\nThe issuer is solely responsible for the content of this announcement.\n\n MIAMI, FL - April 2, 2025 (NEWMEDIAWIRE) - Luminar Media Group, Inc. (“Luminar”) (OTCMARKETS: LRGR), along with its subsidiaries FortunCo LLC, Fortun Advance LLC, Fortun Funding LLC, and Fortun Online, LLC (collectively, “Fortun”), a leading group of fintech companies providing working capital and financial services to underserved businesses, is proud to announce its Q1 2025 financial results. Total assets now exceed $4.5 million.\nBuilding on a robust Q4 2024, Luminar continues to achieve remarkable performance driven by improvements in operational efficiency and strong customer demand including repeat business. Performance this quarter exceeded expectations; Luminar is experiencing growth in all business segments driven by increased demand for Fortun services. Luminar anticipates continued growth quarter-over-quarter and expects to expand its 2025 target goals. \nQ1 2025 Financial Results\n• Total Funded: $1,879,704.34 • Total Automated Clearing House (ACH) Funds Received: $1,797,612.30 (60% growth vs. Q4, improved collection process)• Total Accounts Receivable (AR): $3,997,197.21 (32.4% growth vs. Q4)• Total Cash on Hand: $570,128.29• Total Assets (AR + Cash): $4,567,325• Number of Deals Funded in Q1: 261 (18% higher than Q4)• Total States Funded to Date: 37 plus Puerto Rico\nBusiness Performance UpdateAs of March 31, 2025, Fortun Advance’s total assets have reached $4,567,325, including $570,128.29 in cash and $3,997,197.21 in receivables—a significant rise since Luminar Media Group’s acquisition of Fortun in May 2024. \nMarket InsightSmall businesses are a vital part of the U.S. economy, contributing over $800 billion annually. The increasing number of small business owners highlights their essential role in economic growth and job creation, driving demand for accessible financing solutions like those offered by Fortun.\nJuan Sese, Chief Financial Officer for Fortun Advance, commented:“Crossing the $4.5 million mark in total assets is a significant achievement for us. Our Q1 2025 performance underscores the strength of our business model, and we’re confident th...