AFC Gamma Q3 2024 Earnings Report
Key Takeaways
AFC Gamma announced its Q3 2024 financial results, reporting a GAAP net income of $1.4 million, or $0.06 per share, and Distributable Earnings of $7.2 million, or $0.35 per share. They also paid a dividend of $0.33 per share. The company exceeded its 2024 origination target of $100 million.
GAAP net income was $1.4 million, or $0.06 per basic weighted average common share.
Distributable Earnings were $7.2 million, or $0.35 per basic weighted average common share.
Paid a post-spin dividend of $0.33 per common share for Q3 2024.
Surpassed the 2024 origination target of $100 million in new originations.
AFC Gamma
AFC Gamma
Forward Guidance
The release contains forward-looking statements regarding future events and financial performance, subject to uncertainties and risks outlined in AFC's SEC filings. The company does not undertake any obligation to update these statements.
Challenges Ahead
- Forward-looking statements are subject to uncertainties.
- Future results and performance could differ materially from projections.
- Ability of manager to locate suitable loan opportunities.
- Demand for cannabis cultivation and processing facilities and dispensaries.
- Management’s current estimate of expected credit losses.