REFI · Chicago Atlantic Real Estate Finance, Inc.
3 customers — 24.4% of revenue (three months ended March 31, 2026)
“As of and for the three months ended March 31, 2026 and 2025, the top three borrowers represented approximately 24.4% and 24.3% of the total interest income, respectively.”
3 customers — 24.3% of revenue (three months ended March 31, 2025)
“As of and for the three months ended March 31, 2026 and 2025, the top three borrowers represented approximately 24.4% and 24.3% of the total interest income, respectively.”
3 customers — 33.2% of receivables (March 31, 2026)
“Our loan portfolio as of March 31, 2026 and December 31, 2025, was concentrated with the top three borrowers representing approximately 33.2% and 26.9% of principal outstanding, respectively.”
One customer — 12.9% of receivables (March 31, 2026)
“The largest loan represented approximately 12.9% and 11.5% of principal outstanding as of March 31, 2026 and December 31, 2025, respectively.”
3 customers — 26.9% of receivables (December 31, 2025)
“Our loan portfolio as of March 31, 2026 and December 31, 2025, was concentrated with the top three borrowers representing approximately 33.2% and 26.9% of principal outstanding, respectively.”
One customer — 11.5% of receivables (December 31, 2025)
“The largest loan represented approximately 12.9% and 11.5% of principal outstanding as of March 31, 2026 and December 31, 2025, respectively.”
Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.
Chart any reported metric, KPI or segment over time — the full statement history lives here
| Line Item | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| $56.27M | — | — | — | $48.86M | $11.08M | |
| $55.47M | $55.39M | $54.95M | $57.15M | $51.47M | $10.75M | |
| $5.26M | $5.3M | $5.39M | $5.26M | $3.53M | $195.09K | |
| $19.91M | — | — | — | $16.57M | $1.58M | |
| $7.43M | — | — | $5.75M | $2.02M | — | |
| — | — | — | — | $6.92M | $798.02K | |
| $30.81M | $36.01M | $37.05M | $38.71M | $32.29M | $9.5M | |
| $0 | $0 | $0 | $0 | — | — | |
| $30.81M | $36.01M | $37.05M | $38.71M | $32.29M | $9.5M | |
| — | — | — | — | 66.1% | 85.75% | |
| — | — | — | — | — | $9.5M | |
| USD/shares | — | $1.71 | $1.92 | $2.14 | $1.83 | $1.47 |
| USD/shares | — | $1.68 | $1.88 | $2.11 | $1.82 | $1.47 |
| shares | — | 21M | 19.28M | 18.09M | 17.65M | 6.44M |
| shares | — | 21.43M | 19.71M | 18.34M | 17.75M | 6.45M |
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2021–FY2025: $157.92M in dividends.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against the industry, and each ratio recomputed as of past filing dates.