AFC Gamma reports Q4 GAAP net loss of $9.2M, declares $0.48 Q1 dividend

Advanced Flower Capital Inc.

Q4 2023 GAAP net loss $(9.2)M ($(0.45)/share); Distributable Earnings $10.0M ($0.49/share).
Full year 2023 GAAP net income $21.0M ($1.02/share); Distributable Earnings $41.4M ($2.04/share).
Board declared $0.48/share Q1 2024 dividend, payable April 15, 2024, record March 31, 2024.
CEO states spin-off of commercial real estate portfolio complete; AFC Gamma now pure-play cannabis lender.
2024 Annual Shareholders Meeting set for May 23, 2024, record date March 26, 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Advanced Flower Capital Inc. reported fourth quarter and year ended December 31, 2023 results: net income GAAP net loss of $(9.2) million or $(0.45) per basic weighted average common share, EPS $(0.45) per basic weighted average common share.

Period: fourth quarter and year ended December 31, 2023
Net income: GAAP net loss of $(9.2) million or $(0.45) per basic weighted average common share
EPS: $(0.45) per basic weighted average common share
Result: reported results

Exact text from the filing

AFC Gamma, Inc. issued a press release announcing its financial and operational results for the fourth quarter and year ended December 31, 2023.

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Advanced Flower Capital Inc. filing history →

Source: SEC EDGAR

accession 0001822523-24-000015

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