secwatch.observer — SEC 8-K summary
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Issuer:     Sachem Capital Corp. (SACH)
CIK:        0001682220
Form:       8-K
Filed at:   2024-05-10T23:59:59+00:00
Accession:  0001104659-24-059956
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1682220/000110465924059956/0001104659-24-059956-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1682220/000110465924059956/tm2414164d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-059956

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