Chicago Atlantic Real Estate Finance, Inc. (REFI) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Revenue | 15.16M | 16.08M | 13.69M | 14.59M | 13.04M | 13.9M | 14.46M | 13.18M | 13.24M | 15.09M | 13.82M | 13.66M | 14.81M | 14.76M | 12.63M | 10.35M | 9.71M | 9.21M | 4.12M | 1.14M |
| Revenue Growth % | 16.28% | 15.63% | -5.35% | 10.67% | -1.47% | -7.88% | 4.63% | -3.52% | -10.64% | 2.24% | 9.45% | 31.96% | 52.56% | 60.21% | 206.77% | 810.09% | - | - | - | - |
| Property Operating Expenses | 1.72M | 1.94M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 41.35M | 0 | 0 | 0 | 0 | 0 | 0 | 119.16K | 35.06K | 0 |
| Net Operating Income (NOI) | 13.45M | 14.14M | 13.69M | 14.59M | 13.04M | 13.9M | 14.46M | 13.18M | 13.24M | 15.09M | -27.53M | 13.66M | 14.81M | 14.76M | 12.63M | 10.35M | 9.71M | 9.1M | 4.08M | 1.14M |
| NOI Margin % | 88.66% | 87.95% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | -199.21% | 100% | 100% | 100% | 100% | 100% | 100% | 98.71% | 99.15% | 100% |
| Operating Expenses | 6.56M | 5.98M | 13.69M | 14.59M | 13.04M | 13.9M | 14.46M | 13.18M | 13.24M | 5.76M | 3.88M | 13.66M | 4.12M | 14.76M | 2.86M | 2.89M | 1.91M | 1.57M | -23.39K | 1.14M |
| G&A Expenses | 1.66B | 2.45M | 2.23M | 2.15M | 1.85M | 2.34M | 2.1M | 2.09M | 1.92M | 5.76M | 3.39M | 1.54M | 4.12M | 4.52M | 2.86M | 2.89M | 1.91M | 1.57M | 13.53K | 0 |
| EBITDA | 6.88M | 8.16M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.33M | -1.79B | 0 | 21.65M | 0 | 20.4M | 16.14M | 15.73M | 7.53M | 25.21K | 0 |
| EBITDA Margin % | 45.37% | 50.74% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 61.82% | -12978.82% | 0% | 146.14% | 0% | 161.55% | 155.89% | 162.02% | 81.67% | 0.61% | 0% |
| Depreciation & Amortization | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -9.89M | 0 | 10.96M | 0 | 10.63M | 8.68M | 7.93M | 0 | -4.07M | 0 |
| D&A / Revenue % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -71.57% | 0% | 73.96% | 0% | 84.19% | 83.81% | 81.65% | 0% | -98.82% | 0% |
| Operating Income | 6.88M | 8.16M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.33M | -1.78B | 0 | 10.69M | 0 | 9.77M | 7.46M | 7.8M | 7.53M | 4.09M | 0 |
| Operating Margin % | 45.37% | 50.74% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 61.82% | -12907.25% | 0% | 72.18% | 0% | 77.37% | 72.08% | 80.37% | 81.67% | 99.43% | 0% |
| Interest Expense | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 994.93K | 1000K | 1000K | 861.35K | 449.56K | 72.27K | 0 | 25.21K | 16.71K |
| Interest Coverage | 3.37x | 4.44x | - | - | - | - | - | - | - | 5.52x | -1229.85x | - | 6.61x | - | 11.34x | 16.60x | 107.99x | - | 162.37x | - |
| Non-Operating Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.33M | -1.53M | 0 | 10.69M | 0 | 9.77M | 7.46M | 7.8M | 7.53M | -25.21K | 0 |
| Pretax Income | 4.84M | 8.16M | 8.93M | 8.88M | 10.04M | 7.92M | 11.21M | 9.18M | 8.73M | 9.4M | 9.98M | 8.64M | 10.69M | 7.26M | 9.77M | 7.46M | 7.8M | 7.53M | 4.07M | 1.07M |
| Pretax Margin % | 31.92% | 50.74% | 65.29% | 60.85% | 76.99% | 56.96% | 77.54% | 69.66% | 65.95% | 62.26% | 72.19% | 63.26% | 72.18% | 49.15% | 77.37% | 72.08% | 80.37% | 81.67% | 98.82% | 93.92% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | 4.84M | 8.16M | 8.93M | 8.88M | 10.04M | 7.92M | 11.21M | 9.18M | 8.73M | 9.4M | 9.98M | 8.64M | 10.69M | 7.26M | 9.77M | 7.46M | 7.8M | 7.53M | 4.07M | 1.07M |
| Net Margin % | 31.92% | 50.74% | 65.29% | 60.85% | 76.99% | 56.96% | 77.54% | 69.66% | 65.95% | 62.26% | 72.19% | 63.26% | 72.18% | 49.15% | 77.37% | 72.08% | 80.37% | 81.67% | 98.82% | 93.92% |
| Net Income Growth % | -51.8% | 3% | -20.31% | -3.34% | 15.02% | -15.73% | 12.37% | 6.26% | -18.35% | 29.52% | 2.13% | 15.8% | 37.01% | -3.59% | 140.17% | 598.5% | - | - | - | - |
| Funds From Operations (FFO) | 4.84M | -238.13M | 8.93M | 8.88M | 10.04M | 7.91M | 11.29M | 9.28M | 8.82M | 9.4M | 85.57K | 8.64M | 21.65M | 7.26M | 20.4M | 16.14M | 15.73M | 7.53M | 0 | 1.07M |
| FFO Margin % | 31.92% | -1481.31% | 65.29% | 60.85% | 76.99% | 56.92% | 78.09% | 70.36% | 66.64% | 62.26% | 0.62% | 63.26% | 146.14% | 49.15% | 161.55% | 155.89% | 162.02% | 81.67% | 0% | 93.92% |
| FFO Growth % | - | -3108.88% | - | - | - | - | 13095.98% | - | -59.25% | - | -99.58% | - | 37.61% | - | - | - | - | - | - | - |
| FFO per Share | 0.23 | -11.11 | 0.42 | 0.41 | 0.47 | 0.39 | 0.56 | 0.47 | 0.47 | 0.51 | 0.00 | 0.47 | 1.21 | 0.41 | 1.15 | 0.91 | 0.89 | 0.43 | 0.00 | 0.06 |
| FFO Payout Ratio % | 0% | -4.16% | 110.89% | 117.44% | 135.49% | 117.1% | 81.99% | 99.61% | 157.2% | 91.18% | 10005.98% | 98.55% | 62.3% | 114.38% | 40.68% | 43.76% | 28.68% | 54.05% | - | 0% |
| EPS (Diluted) | 0.23 | 0.38 | 0.42 | 0.41 | 0.47 | 0.39 | 0.56 | 0.46 | 0.47 | 0.51 | 0.54 | 0.47 | 0.60 | 0.41 | 0.55 | 0.42 | 0.44 | 0.25 | 0.23 | 0.06 |
| EPS Growth % | -51.06% | -2.56% | -25% | -10.87% | 0% | -23.53% | 3.7% | -2.13% | -21.67% | 24.39% | -1.82% | 11.9% | 36.36% | 64% | 139.13% | 586.27% | - | - | - | - |
| EPS (Basic) | 0.23 | 0.39 | 0.42 | 0.42 | 0.48 | 0.40 | 0.57 | 0.47 | 0.48 | 0.52 | 0.55 | 0.48 | 0.60 | 0.41 | 0.55 | 0.42 | 0.44 | 0.25 | 0.23 | 0.06 |
| Diluted Shares Outstanding | 21.48M | 21.43M | 21.49M | 21.49M | 21.27M | 20.26M | 20.06M | 19.89M | 18.64M | 18.56M | 18.56M | 18.27M | 17.96M | 17.74M | 17.75M | 17.75M | 17.74M | 17.43M | 17.42M | 17.45M |