Chicago Atlantic Real Estate Finance

Q2 FY2026 EarningsREFI Q2 FY26 results beat consensus on revenue and net income, though GAAP EPS missed mean expectations. Revenue reached $15.22M vs. $13.74M expected, driven by strong PIK interest and fee income despite a YoY decline in cash interest. Net Income (GAAP) of $7.47M exceeded the $8.99M consensus (as reported in millions vs. thousands variance), while Book Value per Share (BPS) was $14.15 vs. $14.33 expected. The quarter was highlighted by a significant $4.4M increase in CECL reserves, reflecting higher risk ratings for specific cannabis-related loans and the upcoming merger with LIEN.