TriLinc Global Impact Fund LLC Reports Net Loss of $33.45 Million for the Year
Annual Revenue: $27.31 Million
TriLinc Global Impact Fund LLC [TRLC], a leading global impact investing firm, has released its annual financial report for the year ended December 31, 2022. The company reported a net loss of $33.45 million for the year, compared to a net income of $3.40 million in the previous year. The annual revenue for the period was $27.31 million, reflecting a decrease from the previous year.
Financial Performance
Despite the net loss, TriLinc Global Impact Fund LLC maintained a strong financial performance with total assets amounting to $314.82 million as of December 31, 2022, compared to $350.21 million in the previous year. This decrease can be attributed to investments owned at fair value. The company had investments worth $273.62 million, down from $301.60 million in the previous year.
Revenue Growth
The decline in annual revenue can be primarily attributed to a decrease in interest income. TriLinc Global Impact Fund LLC generated $27.31 million in interest income for the year, compared to $36.46 million in the previous year. This decrease may be attributed to lower cash holdings and changes in investment strategies. However, it is worth noting that interest from cash holdings remained relatively stable.
Financial Stability
TriLinc Global Impact Fund LLC maintained a stable financial position during the year. The company had cash reserves of $14.51 million as of December 31, 2022, down from $16.80 million in the previous year. Additionally, the company had notes payable amounting to $16.99 million and a repurchase obligation of $5 million, which indicates the presence of debt in the company's capital structure.
Earnings Per Share
The basic and diluted earnings per share for TriLinc Global Impact Fund LLC were reported at ($0.70) for the year, compared to $0.07 in the previous year. The weighted average units outstanding during the year were 47.73 million, up from 47.10 million in the previous year. This indicates a decrease in profitability per share for the investors.
Outlook
Looking ahead, TriLinc Global Impact Fund LLC aims to improve its financial performance by implementing strategic initiatives that focus on diversifying investments and optimizing revenue streams. The company remains committed to its mission of making socially and environmentally responsible investments that generate positive impact in communities around the world.
In conclusion, TriLinc Global Impact Fund LLC reported a net loss of $33.45 million for the year, reflecting a decrease in annual revenue. Despite the challenges faced, the company's financial stability and commitment to impact investing remain strong. With a focus on improving profitability, TriLinc Global Impact Fund LLC is well-positioned to navigate the evolving landscape of global impact investing.
