AFC Gamma Q4 2023 Earnings Report
Key Takeaways
AFC Gamma reported a GAAP net loss of $(9.2) million, or $(0.45) per share, and Distributable Earnings of $10.0 million, or $0.49 per share, for the fourth quarter of 2023. The company declared a cash dividend of $0.48 per common share for the fourth quarter of 2023 and a regular cash dividend of $0.48 per common share for the first quarter of 2024.
GAAP net loss of $(9.2) million or $(0.45) per basic weighted average common share for Q4 2023.
Distributable Earnings of $10.0 million or $0.49 per basic weighted average common share for Q4 2023.
Declared dividend of $0.48 per common share for the first quarter 2024.
Significant progress on portfolio management initiatives in the fourth quarter and into 2024.
AFC Gamma
AFC Gamma
Forward Guidance
AFC Gamma is excited to return to being a pure play cannabis lender following the completion of the spin-off of their commercial real estate portfolio. They continue to see lending opportunities with the emergence of Cannabis 3.0 operators that have clean capital stacks and are looking to build or expand. As an early mover and one of the leading debt providers in the cannabis industry, AFC Gamma is uniquely positioned to capitalize on these opportunities and deploy capital at attractive risk-adjusted returns.