REFI · Chicago Atlantic Real Estate Finance, Inc. · Financials
3 customers — 23.2% of revenue (six months ended June 30, 2026)
“As of and for the six months ended June 30, 2026 and 2025, the top three borrowers represented approximately 23.2% and 26.0% of the total interest income, respectively.”
3 customers — 26% of revenue (six months ended June 30, 2025)
“As of and for the six months ended June 30, 2026 and 2025, the top three borrowers represented approximately 23.2% and 26.0% of the total interest income, respectively.”
3 customers — 31.5% of receivables (June 30, 2026)
“Our total loan portfolio as of June 30, 2026 and December 31, 2025, was concentrated with the top three borrowers representing approximately 31.5% and 25.6% of principal outstanding, respectively.”
One customer — 11.8% of receivables (June 30, 2026)
“The largest loan represented approximately 11.8% and 11.1% of principal outstanding as of June 30, 2026 and December 31, 2025, respectively.”
3 customers — 25.6% of receivables (December 31, 2025)
“Our total loan portfolio as of June 30, 2026 and December 31, 2025, was concentrated with the top three borrowers representing approximately 31.5% and 25.6% of principal outstanding, respectively.”
One customer — 11.1% of receivables (December 31, 2025)
“The largest loan represented approximately 11.8% and 11.1% of principal outstanding as of June 30, 2026 and December 31, 2025, respectively.”
Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.
Chart any reported metric, KPI or segment over time — the full statement history lives here
| Line Item | TTM | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|
| $56.27M | — | — | — | $48.86M | |
| $53.88M | $55.39M | $54.95M | $57.15M | $48.86M | |
| $5.52M | $5.3M | $5.39M | $5.26M | $3.53M | |
| $19.91M | — | — | — | $16.57M | |
| $7.83M | $7.55M | $7.15M | $5.75M | $2.61M | |
| $61.71M | $62.94M | $62.1M | $62.9M | $51.47M | |
| $29.41M | $36.01M | $37.05M | $38.71M | $32.29M | |
| $0 | $0 | $0 | $0 | $0 | |
| $29.41M | $36.01M | $37.05M | $38.71M | $32.29M | |
| — | — | — | — | 66.1% | |
| USD/shares | $1.39 | $1.71 | $1.92 | $2.14 | $1.83 |
| USD/shares | $1.37 | $1.68 | $1.88 | $2.11 | $1.82 |
| shares | — | 21M | 19.28M | 18.09M | 17.65M |
| shares | — | 21.43M | 19.71M | 18.34M | 17.75M |
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2022–FY2025: $152.78M in dividends.
Debt Profile
Annual debt figures are established from 10-K filings and updated by subsequent 10-Q and 8-K disclosures. Instrument balances are not summed into a company total unless the filing itself reports that total.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
Peer medians compare against the 29 similar-size REIT - Mortgage companies (of 35 listed).