NASDAQ$REFI

Chicago Atlantic Real Estate Finance Inc · Q1 2025 earnings

Q1 2025 earnings · · Before market open · Investor relations

Briefing

Chicago Atlantic Real Estate Finance reported Q1 2025 net interest income of $13.0M with net income of $10.0M and diluted EPS of $0.48.

Interest income was $15.1 million while interest expense was $2.1 million, yielding net interest income of $13.0 million. Net income was $10.0 million; diluted EPS was $0.48. The cannabis-focused mortgage REIT portfolio mix shifted toward more fixed-rate loans.

  • Q1 interest income $15.1M.
  • Net income $10.0M; diluted EPS $0.48.
  • Portfolio weighted-average YTM IRR about 16.9%.
  • Cannabis credit and rates affect origination pace.

Headline financials

Total Revenue

$13M

Previous: $13.2M-1.5%
EPS (adj)

$0.48

Previous: $0.47+2.1%
Loans held for investment, net

$396M

No prior period
Current expected credit loss reserve

$3.27M

No prior period
Unfunded commitments

$19.8M

Previous: $20.9M-5.3%
Revolving loan outstanding balance

$38M

Previous: $55M-30.9%
Notes payable, net

$49.2M

Previous: $49.1M+0.1%
Dividends declared per share

$0.47

Previous: $0.47+0.0%
Variable interest rate loan portfolio

58.5%

Previous: 62.1%-5.8%
Weighted average yield to maturity

16.9%

Previous: 17.2%-1.7%
Net Income

$10M

Previous: $8.73M+15.0%
Operating Income

$10M

Previous: -$7.48M+234.3%

Revenue & EPS history

Chicago Atlantic · Revenue · Quarterly

$13M

Q1 2025-1.5%vs Q1 2024
Beat estimate in 7 of 15 quarters(47%)
ActualEstimate

Forward guidance

Real estate and finance outlook focuses on rates, portfolio yield, and asset values.

Tailwinds

  • Portfolio yield and origination pipeline.
  • Balance-sheet flexibility.

Headwinds

  • Interest-rate and credit spread moves.
  • Sector-specific regulatory or occupancy risk.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2025

Historical avgQ1 2025

-0.1%

Avg return

Earnings day

+0.3%

Avg return

5 days after

-0.5%

Avg return

30 days after

32%

6 / 19 earnings

Positive

+11.1%

Q3 2022

Best reaction

-5.6%

Q4 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-5.1%-7.2%-8.0%
Q4 2025-0.3%+2.7%-5.3%
Q3 2025-2.3%+0.4%-1.1%
Q1 2025+0.4%+2.8%-1.6%
Q4 2024-3.5%-2.2%-15.1%
Q3 2024+1.5%+0.4%+2.8%
Q2 2024-1.4%-2.5%+1.4%
Q1 2024-2.4%-1.4%-1.9%
Q4 2023-1.1%-1.0%-4.4%
Q3 2023+0.5%+0.3%+4.0%
Q2 2023-1.7%-3.4%-1.2%
Q1 2023+3.8%+1.3%+8.4%
Q4 2022-5.6%-8.5%-3.6%
Q3 2021+11.1%+11.5%+13.4%
Q3 2022+11.1%+11.5%+13.4%
Q2 2022-2.8%+0.5%-5.2%
Q1 2022+0.0%-1.6%+4.0%
Q2 2021-3.4%-1.8%-12.2%
Q4 2021-0.2%+3.3%+2.9%

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