---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-059956"
form_type: "8-K"
ticker: "SACH"
cik: "0001682220"
company_name: "Sachem Capital Corp."
filed_at: "2024-05-10T23:59:59+00:00"
generated_at: "2026-06-02T03:53:33.560396+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Sachem Capital Q1 revenue up 17% to $17.2M; net income falls to $3.6M on higher credit loss provision

## Summary
- Revenue $17.2M (+17% YoY); interest income $12.6M vs $11.0M.
- Net income attributable to common $3.6M ($0.08/sh) vs $4.2M ($0.10/sh) in Q1 2023.
- Non-cash provision for credit losses increased $1.2M due to collateral value reductions.
- Operating costs rose to $12.5M from $9.6M, driven by higher interest expense and G&A.
- Notes due in 2024: $23.7M (June) and $34.5M (Dec); intends to repay via refinancing or cash/credit.

## SEC filing metadata
- accession: 0001104659-24-059956
- form_type: 8-K
- ticker: SACH
- cik: 0001682220
- company_name: Sachem Capital Corp.
- filed_at: 2024-05-10T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1682220/000110465924059956/0001104659-24-059956-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1682220/000110465924059956/tm2414164d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-059956
- JSON: https://secwatch.observer/filing/0001104659-24-059956.json
- Plain text: https://secwatch.observer/filing/0001104659-24-059956.txt

## Key facts
- Earnings Releases
  Sachem Capital Corp. reported first quarter ended March 31, 2024 results: revenue $17.2 million, net income $3.6 million, EPS $0.08 per share.
  - Period: first quarter ended March 31, 2024
  - Revenue: $17.2 million
  - Net income: $3.6 million
  - EPS: $0.08 per share
  - Result: reported results
  source text: 31, 2024. --- EX-99.1 (EXHIBIT 99.1) --- EX-99.1 2 tm2414164d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 SACHEM CAPITAL REPORTS FIRST QUARTER 2024 RESULTS – REVENUES GREW 17.0% TO $17.2 MILLION - Company to Host Webcast and Conference Call - BRANFORD, Conn., May 10, 2024 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) announced its financial results for
  evidence_url: https://www.sec.gov/Archives/edgar/data/1682220/000110465924059956/0001104659-24-059956-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.