Chicago Atlantic reports Q4 EPS 39c vs. 51c last year

Reports Q4 revenue $15.5M, consensus $14.19M. Peter Sack, Co-CEO, noted, “Since establishing the Chicago Atlantic (REFI) platform in 2019, we have maintained a disciplined underwriting process that reflects the core tenets of successful direct lending. We focus on strong operators, the right states, cash flow, leverage, and collateral to manage downside risk and protect principal. This consistent process has worked extremely well for us as we are the largest platform focused on cannabis, and the third best exchange-listed mortgage REIT on a total return basis across all sectors of the financial services industry, benchmarked since inception. Our default underwriting assumption for several years now has been that the federal regulatory environment remains unchanged and that operators will continue to need debt capital to grow. This philosophy and our strong liquidity have enabled us to grow the portfolio in 2024 and build a pipeline of nearly $500 million comprised of many of the leading operators and brands. We believe our remarkable consistency and the ability to work collaboratively with our borrowers will be important assets in 2025.”