Sachem Capital(SACH) - 2025 Q3 - Quarterly Results

Financial Performance - Total revenue for Q3 2025 was $12.0 million, a decrease of 19% from $14.8 million in Q3 2024[4] - Total revenues for Q3 2025 were $12,000,000, a decrease of 18.9% from $14,785,000 in Q3 2024[22] - Interest income from loans decreased to $8,326,000 in Q3 2025 from $11,420,000 in Q3 2024, representing a decline of 27.5%[22] - Net income attributable to common shareholders was a loss of $120,000 in Q3 2025 compared to a loss of $6,146,000 in Q3 2024[22] - Net loss attributable to common shareholders was $0.1 million, or $0.00 per share, compared to a net loss of $6.1 million, or $0.13 per share in Q3 2024[7] Operating Costs - Total operating costs and expenses decreased to $12.4 million in Q3 2025 from $19.6 million in the same quarter last year[5] - Operating expenses decreased to $12,367,000 in Q3 2025 from $19,607,000 in Q3 2024, a reduction of 37.0%[22] - The provision for credit losses related to loans held for investment was $812,000 in Q3 2025, significantly lower than $8,096,000 in Q3 2024[22] Assets and Liabilities - Total assets at the end of Q3 2025 were $484.4 million, down from $492.0 million as of December 31, 2024[8] - Total liabilities decreased to $308.8 million from $310.3 million as of December 31, 2024[8] - Total shareholders' equity as of September 30, 2025, was $175.6 million, down from $181.7 million as of December 31, 2024[10] - Book value per common share decreased to $2.47 as of September 30, 2025, from $2.64 as of December 31, 2024[11] Cash Flow and Dividends - Cash and cash equivalents at the end of the period were $5,881,000, down from $11,172,000 at the end of Q3 2024[23] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $13,510,000, compared to $5,624,000 for the same period in 2024[23] - Dividends paid on common shares increased to $14,159,000 in the nine months ended September 30, 2025, from $7,114,000 in the same period of 2024[24] - The company paid a dividend of $0.05 per share to common shareholders on September 30, 2025[13] Financing Activities - The company reported a net cash used in financing activities of $64,489,000 for the nine months ended September 30, 2025, compared to $14,107,000 in the same period of 2024[24] - The company issued Senior Secured Notes amounting to $90,000,000 during the reporting period[24] Company Strategy - The company intends to continue operating as a Real Estate Investment Trust (REIT) and comply with the requirement to distribute a minimum of 90% of taxable income to shareholders[12]