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

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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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