AFC Gamma Q1 GAAP net loss $0.1M; distributable earnings $0.49/share; dividend $0.48

Advanced Flower Capital Inc.

2024-Q1 EPS reported -$0.01 revenue$14,757,897

GAAP net loss of $(0.1) million ($(0.01) per share); Distributable Earnings of $10.0M ($0.49/share).
Originated $90.4M in loans: $34.0M to cannabis operators (Sunburn Cannabis) and $56.4M to commercial real estate.
Paid Q1 dividend of $0.48/share on April 15, 2024; distributable earnings covered the dividend.
CEO highlighted federal rescheduling developments and potential adult-use transitions in Ohio and Florida.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Advanced Flower Capital Inc. reported first quarter ended March 31, 2024 results: net income GAAP net loss of $(0.1) million, EPS $(0.01) per basic weighted average common share.

Period: first quarter ended March 31, 2024
Net income: GAAP net loss of $(0.1) million
EPS: $(0.01) per basic weighted average common share
Result: reported results

Exact text from the filing

On May 9, 2024, AFC Gamma, Inc. issued a press release announcing its financial and operational results for the quarter ended March 31, 2024.

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Advanced Flower Capital Inc. filing history →

Source: SEC EDGAR

accession 0001822523-24-000020

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