| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income | 4,840,364 | 8,157,250 | 8,934,542 | 18,918,686 |
| Accretion of deferred loan origination fees and other discounts | 737,540 | 474,559 | 862,855 | 850,114 |
| Paid-in-kind interest | 1,275,042 | 1,789,450 | 1,257,020 | 3,116,093 |
| Interest received through net settlement transactions | NaN | 1,365,150 | NaN | NaN |
| Provision (benefit) for current expected credit losses | 3,837,851 | 99,818 | 557,219 | 74,014 |
| Change in unrealized loss on investment | -206,000 | 0 | 0 | 165,000 |
| Realized gain on debt securities, at fair value | NaN | 0 | NaN | NaN |
| Amortization of debt issuance costs | 83,451 | 84,477 | 101,728 | 220,458 |
| Stock based compensation | 865,354 | 909,767 | 928,654 | 1,530,440 |
| Interest receivable | 897,488 | -478,346 | 1,192,240 | 1,842,083 |
| Other receivables and assets, net | 1,889,436 | 317,092 | 90,916 | 65,505 |
| Interest reserve | -2,686 | -1,911 | -206,338 | -1,076,943 |
| Related party payables | -760,978 | -858,095 | 1,200,933 | -171,321 |
| Related party receivables | -1,124,161 | 1,163,505 | -852,768 | -2,491,139 |
| Proceeds from the redemption of debt securities, at fair value | NaN | 0 | NaN | NaN |
| Management and incentive fees payable | -1,379,081 | 1,663,505 | -497,886 | -930,201 |
| Interest payable | -1,038,228 | 199,313 | NaN | NaN |
| Accounts payable and accrued expenses | 187,105 | 896,209 | -283,409 | -928,972 |
| Net cash provided by operating activities | 3,163,807 | 6,518,923 | 8,185,180 | 14,088,505 |
| Issuance of and fundings of loans held for investment | 49,834,741 | 16,979,312 | 48,678,059 | 10,327,017 |
| Principal repayment of loans held for investment | 51,565,404 | 9,704,126 | 57,237,922 | 12,279,060 |
| Principal repayment of loans held at fair value | NaN | 0 | 5,500,000 | NaN |
| Proceeds from sale of loans | NaN | 0 | NaN | NaN |
| Net cash provided by/(used in) investing activities | 1,730,663 | -7,275,186 | 14,059,863 | 1,952,043 |
| Proceeds from sale of common stock | 0 | 0 | 0 | 1,033,474 |
| Proceeds from notes payable | NaN | 0 | NaN | NaN |
| Proceeds from borrowings on revolving loan | 55,750,000 | 36,000,000 | 49,200,000 | 56,900,000 |
| Repayment of borrowings on revolving loan | 37,800,000 | 39,300,000 | 68,000,000 | 40,700,000 |
| Dividends paid to common shareholders | 9,907,728 | 9,905,390 | 9,907,921 | 24,030,318 |
| Payment of debt issuance costs | NaN | 0 | 109,999 | 0 |
| Payment of offering costs | 29,681 | 10,000 | 68,670 | 82,068 |
| Net cash provided by/(used in) financing activities | 8,012,591 | -13,215,390 | -28,886,590 | -6,878,912 |
| Net increase/(decrease) in cash and cash equivalents | 12,907,061 | -13,971,653 | -6,641,547 | 9,161,636 |
| Cash and cash equivalents, beginning of period | 14,948,884 | 28,920,537 | 26,400,448 | NaN |
| Cash and cash equivalents, end of period | 27,855,945 | 14,948,884 | 28,920,537 | NaN |
Chicago Atlantic Real Estate Finance, Inc. (REFI)
Chicago Atlantic Real Estate Finance, Inc. (REFI)