Why did MFIN's Q2 earnings barely meet forecasts?

MFIN's Q2 earnings did not meet forecasts due to several key factors:

1. Revenue Shortfall: The company's revenue fell short of expectations, coming in at $23.5 million compared to the estimated $24.5 million. This discrepancy of approximately $1 million indicates that the company's sales performance was below par.
2. Expense Management: MFIN's earnings were also impacted by higher operating expenses. The company's operating expenses amounted to $6.9 million, which is significantly higher than the $5.5 million recorded in the same period last year. This increase in expenses, without a corresponding increase in revenue, squeezed the company's profit margins.

In summary, MFIN's Q2 earnings did not meet forecasts due to a combination of lower-than-expected revenue and higher operating expenses.