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MARKETS / NASDAQ / AFCG
NASDAQ

Advanced Flower Capital Inc. AFCG

5 fiscal years on record · USD · FY2025 reported · SEC filings only
$24.6M
▼ 46.2% YoY
$-20.7M
▼ 223.2% YoY
In brief

What this company does

Effective January 1, 2026, we elected to be regulated as a BDC under the Investment Company Act of 1940, as amended (the “1940 Act”). We commenced operations on July 31, 2020 and completed our initial public offering (“IPO”) in March 2021. Our wholly-owned subsidiary, AFCG TRS1, LLC (“TRS1”), operated as a taxable REIT subsidiary (a “TRS”).

Written from the business description in Advanced Flower Capital Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 4 March 2026. Every sentence was checked against that document before publication.

Growth
USD 24.6M
Revenue, FY2025 · full 5-year series below
Revenue $M Net income $M
FY2025 · Revenue 24.6 · Net income -20.7
25.0M50.0M-8.0M-16.0M20212022202320242025
Compound annual growth
−31.0%
−38.1%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−84 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -86.7% · Net -84.2%
20%40%-50%20212022202320242025
ROE
FY2025 · ROE -11.0%
5%10%-5%-10%20212022202320242025

Each USD of equity lost 11 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Net buybacks $M Dividends $M
FY2022 · Dividends 41.6 · Net buybacks —
20M40M20212022

Total assetsUSD 275.6M
EquityUSD 175.6M
CashUSD 38.6M

Equity funds 64% of total assets.

The 5-year record
5 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021
Revenue $B0.00.00.10.1·
Operating income $B−0.00.00.00.00.0
EBITDA $B·····
Income tax $B−0.00.00.00.00.0
Net income $B−0.00.00.00.00.0
EPS, diluted $−0.950.781.021.791.52
Dividend / sh $0.531.772.002.231.67
Payout %···11669
ROE %−11.06.46.411.77.7
Shares out B0.020.020.020.020.02

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 15 reconciliationsAUDITED

Reconciled in 5 of 19 fiscal years. 42 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
Activitynot stated in the filings
Listed onNASDAQ
Incorporated inMaryland
Fiscal year endsDecember 31
SEC categoryemerging growth company
Data on record since2021

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