REFI · XBRL financial data
Chicago Atlantic Real Estate Finance financial statements, every fiscal year
The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.
How these numbers work
- Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
- Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
- * marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
- 0 means a filing states zero; a dash (—) means no filing states that number.
- “year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
- Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
- Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
- Shares outstanding come from each filing's cover page, as of the date printed there.
- Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.
Income statement
CSVFiscal years (REFI's year ends in late December)
| In thousands of dollars | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|
| Revenue | — | 48,858 | — | — | — |
| General and administrative | — | 3,528 | 5,260 | 5,389 | 5,304 |
| Total operating expenses | — | 16,565 | — | — | — |
| Interest income | — | 6,920 | — | — | — |
| Interest expense | — | 2,024 | 5,753 | 6,803 | 6,943 |
| Income tax expense (benefit) | — | 0 | 0 | 0 | 0 |
| Net income (loss) | — | 32,292 | 38,710 | 37,045 | 36,010 |
| Earnings per share, basic USD per share | — | 1.83 | 2.14 | 1.92 | 1.71 |
| Earnings per share, diluted USD per share | — | 1.82 | 2.11 | 1.88 | 1.68 |
| Weighted average shares, basic thousands of shares | — | 17,654 | 18,085 | 19,280 | 21,004 |
| Weighted average shares, diluted thousands of shares | — | 17,746 | 18,344 | 19,714 | 21,432 |
Balance sheet
CSVFiscal years (REFI's year ends in late December)
| In thousands of dollars | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 80,249 | 5,716 | 7,898 | 26,400 | 14,949 |
| Inventory | — | 1,204 | — | — | — |
| Total assets | 278,170 | 343,271 | 359,226 | 435,149 | 424,916 |
| Current portion of long-term debt | 200,359 | 336,324 | — | — | — |
| Total liabilities | 14,092 | 79,238 | 87,372 | 126,191 | 117,101 |
| Accumulated deficit | (178) | (5,140) | (5,812) | (10,137) | (15,522) |
| Total stockholders' equity | 264,078 | 264,033 | 271,853 | 308,958 | 307,814 |
| Total liabilities and equity | 278,170 | 343,271 | 359,226 | 435,149 | 424,916 |
| Common shares outstanding (cover page) thousands of shares | 17,753 | 18,082 | 18,197 | 20,894 | 21,080 |
Cash flows
CSVFiscal years (REFI's year ends in late December)
| In thousands of dollars | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|
| Net income (loss) | — | 32,292 | 38,710 | 37,045 | 36,010 |
| Stock-based compensation | — | 436 | 1,480 | 3,059 | 3,369 |
| Net cash from operating activities | — | 17,005 | 28,416 | 23,159 | 28,793 |
| Net cash from investing activities | — | (125,244) | (1,925) | (39,297) | 8,737 |
| Proceeds from issuing common stock | — | 4,506 | 7,222 | 39,592 | 1,033 |
| Dividends paid | — | 28,174 | 39,134 | 41,632 | 43,844 |
| Net cash from financing activities | — | 33,706 | (24,309) | 34,640 | (48,981) |
Compare with peers
SIC 6798 and related industry codes, similar size. Each row is the latest quarter reported.
How peers are chosen
- SIC 6798 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
- Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
- * marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
- A cell reading “not reported” means the filings give no figure for that quarter alone.
| Company | Cash ($K) | Revenue, quarter ($K) | Operating cash flow, quarter ($K) | Shares outstanding | Quarter |
|---|---|---|---|---|---|
| Chicago Atlantic Real Estate Finance | 13,352 | not reported | 9,055* | 25.6M | 10-QJun 30, 2026 |
| NewLake Capital Partners | 25,762 | 12,087 | 10,454* | 20.6M | 10-QJun 30, 2026 |
| FrontView REIT | 6,001 | 18,005 | 11,431* | 24.5M | 10-QJun 30, 2026 |
| Ares Commercial Real Estate | 17,558 | 14,356 | 63,546* | 55.5M | 10-QJun 30, 2026 |
| TPG Mortgage Investment Trust | 61,636 | not reported | 24,240* | 31.8M | 10-QJun 30, 2026 |
| Industrial Logistics Properties Trust | 130,657 | not reported | 12,930* | 67.0M | 10-QSep 30, 2026 |
| Alpine Income Property Trust | 11,722 | 20,460 | 2,007* | 17.9M | 10-QSep 30, 2026 |
| JOINT | 22,157 | not reported | 2,192* | 14.1M | 10-QJun 30, 2026 |
| Chatham Lodging Trust | 11,342 | 87,804 | 25,604* | 46.6M | 10-QJun 30, 2026 |
Not investment advice. Not affiliated with the U.S. SEC.