ATCH experienced a dramatic deterioration in financial performance with net income collapsing substantially and total assets declining significantly year-over-year.
The company's profitability has essentially evaporated, falling from $11.0M to just $795K in net income, suggesting severe operational challenges or a fundamental shift in the business model. The concurrent massive reduction in total assets from $204.2M to $55.5M indicates either major asset sales, impairments, or a significant restructuring of the business.
ATCH's financial position deteriorated markedly across all key metrics during this period. Net income collapsed from $11.0M to $795K, representing a near-complete erosion of profitability, while total assets declined substantially from $204.2M to $55.5M. Operating cash flow also worsened meaningfully, moving deeper into negative territory from -$1.1M to -$1.8M, painting a picture of a company under severe financial distress or undergoing major restructuring.
Net income declined 92.8% — review whether driven by operations, interest costs, or non-recurring items.
Total assets contracted 72.8% — asset sales, write-downs, or balance sheet optimization underway.
Operating cash flow fell 67.8% — earnings quality concerns; investigate working capital changes and non-cash items.
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