Reports Q1 revenue $15.1M, consensus $14.17M. Peter Sack, Co-Chief Executive Officer, noted, “We have entered 2025 much like we did in 2024 with significant volatility in the financial services sector and within the cannabis industry. The broader sentiment in cannabis is more muted than most participants had expected as regulatory action has once again been delayed and the public market reaction to tariff uncertainty has had an impact on equity values. We see opportunity in this disruption as we believe operators will be more likely to seek additional debt financing in an environment where fewer capital providers can remain active. Chicago Atlantic (REFI) will continue to execute on what we do best as direct lenders – remain incredibly disciplined on deploying capital to consumer and product-focused cannabis operators in limited-license states, with strong management teams, low leverage profiles, and fundamentally sound growth initiatives. We are confident our measured approach to the current environment, our under-levered balance sheet, and strong loan portfolio will enable us to maximize long-term returns for our shareholders.”
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