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Mar 31, 2020
Sachem Capital Q1 2020 Earnings Report
Sachem Capital's revenue increased by 29% and net income reported at $2.2 million.
Key Takeaways
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.
Total revenue increased to $4.3 million, a 28.8% increase year-over-year.
Net income was reported at $2.2 million, or $0.10 per share.
Interest income increased to $2.9 million, compared to $2.8 million in the same period last year.
The company temporarily put its growth strategy on hold in early March, focusing on capital preservation due to COVID-19 uncertainty.