AFCG Q3 2025: GAAP net loss $12.5M; shareholders approve REIT-to-BDC conversion

Advanced Flower Capital Inc.

2025-Q3 EPS reported -$0.99 revenue$19,377,260

GAAP net loss of $12.5M ($0.57/share); Distributable Earnings of $3.5M ($0.16/share).
Regular cash dividend of $0.15/share paid on Oct 15 for Q3 2025.
Shareholders approved conversion from mortgage REIT to BDC; expected completion in Q1 2026.
CEO cites progress resolving nonaccrual positions; limited new capital entering cannabis market.

item 2.02 item 9.01

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