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AFC Gamma
🇺🇸 NASDAQ:AFCG
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•
Jun 30, 2024

AFC Gamma Q2 2024 Earnings Report

AFC Gamma reported GAAP net income and distributable earnings for the second quarter of 2024, and paid a dividend of $0.48 per common share.

Key Takeaways

AFC Gamma announced strong performance in the second quarter of 2024, marked by GAAP net income of $16.4 million or $0.80 per basic weighted average common share and Distributable Earnings of $11.4 million or $0.56 per basic weighted average common share. The company paid a dividend of $0.48 per common share for the second quarter 2024. AFC is now a pure-play cannabis lender after the spin-off of their commercial real estate portfolio on July 9, 2024.

Reported GAAP net income of $16.4 million, or $0.80 per basic weighted average common share.

Distributable Earnings were $11.4 million, or $0.56 per basic weighted average common share.

Paid a dividend of $0.48 per common share for the second quarter 2024.

AFC is now a pure-play cannabis lender after the spin-off of commercial real estate portfolio.

Total Revenue
$18.4M
Previous year: $16.1M
+14.2%
EPS
$0.56
Previous year: $0.49
+14.3%
Gross Profit
$13M
Previous year: $14M
-7.5%
Cash and Equivalents
$170M
Previous year: $82.1M
+107.5%
Free Cash Flow
$10.3M
Total Assets
$458M
Previous year: $454M
+0.9%

AFC Gamma

AFC Gamma

Forward Guidance

The company is on track to meet or exceed the $100 million origination goal for this year.

Company Overview

Full financial data and analysis

View AFC Gamma