Chicago Atlantic Real Estate Finance | 8-K: FY2025 Q3 Revenue: USD 15.25 M

LB filings
2025.11.04 12:05
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Revenue: As of FY2025 Q3, the actual value is USD 15.25 M.

EPS: As of FY2025 Q3, the actual value is USD 0.42, missing the estimate of USD 0.43.

EBIT: As of FY2025 Q3, the actual value is USD -4.751 M.

Segment Revenue

  • The company has closed over $3.2 billion in loans since its inception, with $2.5 billion made to cannabis operators as of September 30, 2025.
  • Outstanding loan principal stands at $399.9 million as of September 30, 2025.

Operational Metrics

  • Gross portfolio yield is 16.5% as of September 30, 2025.
  • Loan to enterprise value ratio is 43.5% and real estate collateral coverage is 1.2x as of September 30, 2025.
  • Net interest income for the three months ended September 30, 2025, was $13,685,274, compared to $14,459,393 for the same period in 2024.
  • Total expenses before provision for expected credit losses were $4,193,515 for the three months ended September 30, 2025, compared to $4,237,354 for the same period in 2024.
  • Net income for the three months ended September 30, 2025, was $8,934,539, compared to $11,211,636 for the same period in 2024.
  • Distributable earnings for the three months ended September 30, 2025, were $10,522,142, compared to $11,159,241 for the same period in 2024.
  • Gross unlevered weighted average yield to maturity was 16.5% as of September 30, 2025, compared to 18.2% as of September 30, 2024.
  • Debt/equity ratio as of September 30, 2025, was 32.8%, compared to 18.3% as of September 30, 2024.

Cash Flow

  • No specific cash flow data provided in the reference.

Unique Metrics

  • The company has a diversified portfolio with 110+ cannabis loans closed across the platform.
  • The portfolio is diversified by size, interest rate type, and geography, with significant exposure in states like Ohio, Michigan, and Missouri.

Outlook / Guidance

  • The company aims to provide risk-adjusted total returns for stockholders through consistent dividends and capital appreciation.
  • The U.S. cannabis industry is projected to grow to $69 billion in retail sales by 2031, presenting significant growth opportunities for the company.
  • Chicago Atlantic affirmed its outlook previously issued on March 12, 2025, indicating a focus on generating net growth in the loan portfolio for 2025 and delivering strong, risk-adjusted returns to stockholders.
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