---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-023282"
form_type: "8-K"
ticker: "NLCP"
cik: "0001854964"
company_name: "NewLake Capital Partners, Inc."
filed_at: "2025-05-07T23:59:59+00:00"
generated_at: "2026-05-22T09:05:39.884933+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# NewLake Q1 revenue $13.2M (+4.8%); net income $6.3M, AFFO $10.7M; tenant defaults noted

## Summary
- Revenue $13.2M, up 4.8% YoY; net income $6.3M vs $6.9M YoY.
- FFO $10.3M (-2.6% YoY), AFFO $10.7M (-2.2% YoY); dividend $0.43/share (annual $1.72, payout 84%).
- Collected ~98% contractual rent; defaults: Revolutionary Clinics in receivership (50% rent), Calypso deposits used.
- Cash $19.9M, liquidity $102.3M; debt/assets 1.6%; no debt maturity until May 2027.
- Acquired one dispensary for $285k; unfunded commitments $11.7M (C3, Cresco).

## SEC filing metadata
- accession: 0001628280-25-023282
- form_type: 8-K
- ticker: NLCP
- cik: 0001854964
- company_name: NewLake Capital Partners, Inc.
- filed_at: 2025-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1854964/000162828025023282/0001628280-25-023282-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1854964/000162828025023282/nlcp-20250507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-023282
- JSON: https://secwatch.observer/filing/0001628280-25-023282.json
- Plain text: https://secwatch.observer/filing/0001628280-25-023282.txt

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