Sachem Capital Corp. ( (SACH) ) has released its Q1 earnings. Here is a breakdown of the information Sachem Capital Corp. presented to its investors.
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Sachem Capital Corp. is a New York-based company specializing in originating, underwriting, funding, servicing, and managing a portfolio of first mortgage loans, primarily in the northeastern and southeastern United States. The company provides short-term, secured, non-bank loans to real estate owners and investors for property acquisition, renovation, development, rehabilitation, or improvement.
In its latest earnings report for the first quarter of 2025, Sachem Capital Corp. reported a decrease in net income compared to the same period in 2024. The company faced challenges in maintaining its revenue levels, with total revenues dropping from $16.8 million in Q1 2024 to $11.4 million in Q1 2025. Despite these challenges, the company managed to maintain a stable cash position, with cash and cash equivalents rising to $24.4 million from $18.1 million at the end of 2024.
Key financial metrics from the report indicate a decline in interest income from loans, which fell to $7.9 million from $12.6 million in the previous year. Operating expenses were reduced to $10.4 million from $12.5 million, reflecting cost management efforts. However, the net income attributable to common shareholders turned negative, with a loss of $213,000 compared to a profit of $3.6 million in the prior year.
Looking ahead, Sachem Capital Corp. remains focused on managing its loan portfolio and exploring strategic opportunities to enhance its financial performance. The management is committed to navigating the current economic environment and leveraging its expertise in real estate financing to drive future growth.