Sachem Capital(SACH) - 2025 Q1 - Quarterly Results

Revenue and Income - Total revenue for Q1 2025 was $11.4 million, down 32.5% from $16.8 million in Q1 2024[4] - Net loss attributable to common shareholders for Q1 2025 was $213,000, or $0.00 per share, compared to net income of $3.6 million, or $0.08 per share in Q1 2024[6] - Net income for the three months ended March 31, 2025, was $904 million, a decrease of 80.7% compared to $4,670 million in the same period of 2024[24] Operating Costs and Expenses - Total operating costs and expenses decreased to $10.4 million in Q1 2025 from $12.5 million in Q1 2024, primarily due to reductions in interest and amortization expenses[5] Assets and Equity - Total assets as of March 31, 2025, were $491.4 million, a slight decrease from $492.0 million as of December 31, 2024[7] - Total shareholders' equity decreased to $179.3 million at March 31, 2025, from $181.7 million at year-end 2024[9] - Book value per common share decreased to $2.57 at March 31, 2025, from $2.64 at year-end 2024[9] Cash Flow and Investments - Net cash provided by operating activities decreased significantly to $191 million from $4,217 million year-over-year[24] - Net cash provided by investing activities increased to $5,747 million, up from $4,319 million in the previous year[24] - Cash and cash equivalents at the end of the period rose to $24,414 million, compared to $18,413 million at the end of the same period last year[24] - Proceeds from lines of credit amounted to $36,100 million, a substantial increase from $460 million in the prior year[24] - The company made investments totaling $4,223 million in limited liability companies, compared to $3,186 million in the same period last year[24] Dividends and Debt - The company paid a dividend of $0.05 per share to common shareholders on March 31, 2025[12] - Dividends paid on common shares decreased to $2,363 million from $5,144 million year-over-year[24] - Total indebtedness at quarter-end was $305.6 million, including $227.0 million of notes payable[8] Loan Portfolio and Capital Management - The company remains focused on managing its loan portfolio and protecting capital while seeking quality investment opportunities[3] - Principal collections on loans were $47,742 million, down from $51,398 million in the same period last year[24] Losses and Adjustments - The company reported a loss on sale of equity securities of $125 million, compared to a gain of $397 million in the previous year[24] - The total adjustments and operating changes resulted in a negative impact of $713 million, compared to a negative impact of $453 million in the previous year[24] Membership Investments - Income from preferred membership limited liability company investments increased approximately 71.7% compared to Q1 2024[4]