Publicly traded cannabis industry lender AFC Gamma reported nearly $16 million in net interest income for its fourth quarter ended Dec. 31, down 18.9% from the same quarter a year before.
Net interest income for the full 2023 fiscal year was 64.2 million, a 14% decrease from 2022 ($74.7 million).
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West Palm Beach, Florida-based AFC Gamma posted a quarterly net loss of $9.2 million, compared with net income of $2.9 million for the same quarter in 2022.
The company’s full-year net income in 2023 was nearly $21 million, compared with $35.9 million in 2022.
AFC Gamma paid out a dividend of 48 cents per share during the fourth quarter and will pay the same dividend in the first quarter of 2024.
Chief Financial
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