Chicago Atlantic Real Estate Finance(US:REFI) Globenewswire·2025-08-07 11:00Core Viewpoint - Chicago Atlantic Real Estate Finance, Inc. reported its second quarter results for 2025, highlighting a disciplined management of its loan portfolio focused on strong cannabis operators and an extended revolving credit facility maturity to 2028 [1][2]. Financial Performance - For the quarter ended June 30, 2025, net interest income was approximately $14.42 million, an increase from $13.04 million in the previous quarter and $13.18 million in the same quarter last year [3]. - Total expenses before provision for expected credit losses were $4.57 million, compared to $4.07 million in the previous quarter and $4.27 million in the same quarter last year [3]. - Net income for the quarter was $8.88 million, down from $10.04 million in the previous quarter and $9.18 million in the same quarter last year [3]. - Distributable earnings for the quarter were $10.85 million, an increase from $9.73 million in the previous quarter and $9.93 million in the same quarter last year [3]. Portfolio Activity - The company received unscheduled principal repayments totaling approximately $56.8 million from July 1, 2025, to August 7, 2025, along with approximately $1.0 million in prepayment fees [4]. - As of June 30, 2025, total loan principal outstanding was approximately $421.92 million, with 30 portfolio companies and unfunded commitments of $16.60 million [3][10]. Capital Structure - The company amended its secured revolving credit facility to extend the maturity from June 30, 2026, to June 30, 2028, retaining an option for a further one-year extension [2]. - As of June 30, 2025, total leverage was approximately $121.2 million, with $71.2 million drawn on the revolving loan and $50.0 million of notes payable due in 2028 [10]. Market Position - Chicago Atlantic remains the largest capital provider to the cannabis industry, with a pipeline of approximately $650 million in cannabis opportunities [2][8].