AFC Gamma(AFCG) - 2024 Q3 - Quarterly Results

Financial Performance - Advanced Flower Capital reported GAAP net income of $1.4 million, or$0.06 per basic weighted average common share, for Q3 2024[2]. - Distributable Earnings for Q3 2024 were $7.2 million, or$0.35 per basic weighted average common share[2]. - The reconciliation of GAAP net income to Distributable Earnings showed adjustments including stock-based compensation of $218,643 and unrealized gains of$4.6 million for Q3 2024[17]. - The basic weighted average shares of common stock outstanding were 20,684,149 for Q3 2024[17]. Dividend Policy - The company paid a dividend of $0.33 per common share for Q3 2024, distributing a total of$7.2 million in dividends[4]. - The company is committed to maintaining its dividend policy, aiming to distribute at least 90% of its annual REIT taxable income[14]. Growth and Strategy - The company surpassed its 2024 target of $100 million in new originations, highlighting strong portfolio management and origination efforts[3]. - The company anticipates continued growth and is focused on identifying high-quality operators in key markets[18]. - Advanced Flower Capital's management emphasizes the importance of Distributable Earnings as a measure for assessing overall business performance[11]. Regulatory Filings - The company filed its Quarterly Report on Form 10-Q with the SEC on November 13, 2024, providing detailed financial information[5].