EXCLUSIVE: Mill City Ventures III Issues Upbeat Q2 Guidance

Mill City Ventures III, Ltd MCVT, a non-bank lender and specialty finance company, proposed its guidance for the second quarter of the 2022 fiscal year.

What Happened? For the second quarter ending June 30, 2022, the company expects revenue to exceed approximately $1.2 million, an estimated 83% year-over-year increase compared to $675,000 for the second quarter of fiscal 2021.  

Six-month revenue will likely exceed $2.2 million compared to $1.2 million for the same period of fiscal 2021, also representing an 83% increase.

Also Read: Mill City Ventures III, Ltd. Announces Pricing of $5.0 Million Public Offering and Concurrent Uplisting to the Nasdaq Capital Market

Why Does It Matter? Commenting on the guidance, CEO Douglas M. Polinsky said, “The demand for loans from our borrowers has been vibrant, and we continue to work diligently for the benefit of our borrowers and stockholders.”

Price Action: MCVT shares traded higher by 6.48% at $4.60 in the premarket on the last check Wednesday.