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Mar 31, 2022
Sachem Capital Q1 2022 Earnings Report
Revenue increased significantly due to growth in lending operations, resulting in net income and adjusted earnings.
Key Takeaways
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.
Revenue increased by 80.3% to $10.3 million, driven by lending operations.
Net income attributable to common shareholders was $3.4 million, or $0.10 per share.
Non-GAAP adjusted earnings were $4.5 million, or $0.13 per share.
Total assets increased to $481.8 million, primarily due to growth in the mortgage loan portfolio.
Sachem Capital
Sachem Capital
Forward Guidance
The company will host a conference call on Wednesday, May 4, 2022, to discuss its financial results for the first quarter ended March 31, 2022, as well as its outlook for the balance of 2022.