Sachem Capital Earnings Reports

Sachem Capital ended Q4 2024 with a significant net loss of $37.3 million as revenue declined and credit loss provisions surged. Loan originations remained weak, impacting interest and fee income.

Sachem Capital reported a decrease in revenue to $14.8 million and a net loss of $6.1 million, or $0.13 per share, for the third quarter ended September 30, 2024. This downturn was primarily due to reduced loan origination activity, leading to lower interest and fee income, and a substantial increase in the provision for credit losses. The company is focusing on strategic initiatives to strengthen its balance sheet and position itself for future growth.

Sachem Capital reported a net loss of $4.1 million, or $0.09 per share, for the second quarter of 2024, compared to a net income of $4.8 million, or $0.11 per share, for the same quarter in 2023. The decrease was primarily due to an $8.5 million provision for credit losses. Total revenue was $15.1 million, compared to $16.3 million for the quarter ended June 30, 2023.

Sachem Capital Corp. reported a 17.0% increase in total revenue to $17.2 million for the quarter ended March 31, 2024, compared to $14.7 million for the same period in 2023. Net income attributable to common shareholders was $3.6 million, or $0.08 per share, down from $4.2 million, or $0.10 per share, for the three months ended March 31, 2023.

Sachem Capital Corp. reported a 25.5% increase in revenue for the year ended December 31, 2023, reaching $65.6 million. However, net income attributable to common shareholders decreased by 29.4% to $12.1 million, and earnings per share decreased by 40.1% to $0.27, due to a difficult macroeconomic environment including rising interest rates and weakness in commercial real estate.

Sachem Capital Corp. announced strong Q2 2023 earnings with a record revenue growth of 31.2% reaching $16.5 million. Net income attributable to common shareholders was approximately $4.8 million, or $0.11 per share. Total assets grew 10.3% to approximately $624.0 million.

Sachem Capital Corp. reported a 42.8% increase in total revenue to $14.7 million for the first quarter of 2023, driven by growth in lending operations. Net income attributable to common shareholders was approximately $4.2 million, or $0.10 per share.

Sachem Capital Corp. announced record 2022 annual revenue of $52.3 million and net income attributable to common shareholders of $17.2 million, or $0.46 per share.

Sachem Capital Corp. reported a strong third quarter with a 58.9% increase in revenue to $13.5 million. The company achieved $4.1 million in net income attributable to common shareholders and $5.2 million in non-GAAP Adjusted Earnings, with earnings per share of $0.11 and $0.13, respectively.

Sachem Capital Corp. announced its financial results for the second quarter ended June 30, 2022, with revenue increasing by 86.9% to $12.5 million. The company achieved $4.3 million of net income attributable to common shareholders and $5.8 million of non-GAAP adjusted earnings, representing earnings per share of $0.12 and $0.16, respectively.

Sachem Capital Corp. reported an 80.3% increase in revenue to $10.3 million for Q1 2022. Net income attributable to common shareholders was $3.4 million, and non-GAAP adjusted earnings reached $4.5 million.

Sachem Capital Corp. reported record annual revenue of $30.4 million and net income attributable to common shareholders of $11.5 million for the year ended December 31, 2021. The company's loan pipeline remains robust heading into 2022, supported by recent public offerings of unsecured notes.

Sachem Capital Corp. announced its financial results for Q3 2021, achieving 100% revenue growth and a net income of $3.4 million. The company's long-term strategy is proving effective, maintaining a robust loan pipeline and healthy balance sheet.

Sachem Capital Corp. reported a strong second quarter in 2021 with a 56% increase in revenue, driven by growth in lending operations. The company achieved a net income of $2.5 million and significantly enhanced its balance sheet with increased cash, cash equivalents, and investment securities.

Sachem Capital Corp. announced a 33% increase in total revenue for Q1 2021, driven by a 56% increase in interest income on its loan portfolio. Net income remained consistent with the previous year, despite increased operating costs and expenses related to unsecured bond debt and organizational investments.

Sachem Capital Corp. reported a strong fourth quarter and full year for 2020, with a 98% increase in Q4 revenue to $5.7 million and a 150% increase in net income to $2.3 million. The company's annual revenue reached a record $18.6 million, and net income was $9.0 million.

Sachem Capital Corp. announced its financial results for the third quarter ended September 30, 2020, showcasing a 26% increase in revenue compared to the same period last year, driven by improvements in the fix-and-flip market and expansion into new markets like Florida.

Sachem Capital Corp. announced its financial results for the second quarter ended June 30, 2020, revealing a 41% increase in revenue and a 98% increase in net income compared to the same period in 2019. Despite the COVID-19 pandemic, the company generated strong financial performance by focusing on capital preservation and portfolio maintenance.

Sachem Capital Corp. reported a 29% increase in revenue to $4.3 million and a net income of $2.2 million for Q1 2020. The increase in revenue is primarily attributed to an increase in lending operations.

Sachem Capital reported record revenue of $12.7 million and net income of $6.2 million for the year ended December 31, 2019. The company's balance sheet showed a solid position with cash and short-term marketable securities of approximately $34.8 million and stockholders’ equity of $82.6 million as of December 31, 2019.