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Advanced Flower Capital Inc. reported a net loss of $20.7 million for FY 2025, a significant decline from the net income of $16.8 million in FY 2024. The loss was driven by a substantial $22.6 million provision for current expected credit losses and $7.9 million in unrealized losses on loans at fair value, which overwhelmed net interest income of $24.6 million. Despite the net loss, the company generated $11.2 million in net cash from operating activities. Key challenges included placing several loans on nonaccrual status and ongoing litigation related to the Subsidiary of Private Company G credit facility. The company completed a strategic transition to a Business Development Company (BDC) effective January 1, 2026, which will subject it to a new regulatory framework and is expected to broaden its investment focus beyond cannabis industry loans.
EPS
-$1.00
Net Income
-$20.7M
free cash flow
$11.2M