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Chicago Atlantic BDC (LIEN) investor relations material
Chicago Atlantic BDC Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Reported $13.1M gross investment income and $7.7M net investment income for Q2 2025, with a $0.34 per share dividend declared for the fourth consecutive quarter.
Funded $39.1M in new investments in Q2, adding three new borrowers and focusing on cannabis and underserved markets; portfolio fair value reached $307.5M across 31–33 companies.
Net asset value per share was $13.23 as of June 30, 2025, with total net assets around $302M and 22.8M shares outstanding.
Maintains a niche strategy with all senior secured debt, low leverage, and strong collateral coverage, operating as part of a $1.9B+ private credit platform.
No loans on non-accrual status as of June 30, 2025.
Financial highlights
Gross investment income for Q2 2025 was $13.1M, up from $11.9M in Q1; net investment income was $7.7M or $0.34 per share.
Net assets totaled $301.8M–$302M, with a net asset value per share of $13.23 at quarter end.
Net increase in net assets from operations was $8.6M for Q2 2025.
Weighted average shares outstanding were 22.8M for Q2 2025.
No loans on non-accrual status; total return based on market value for six months ended June 30, 2025 was (12.40)%.
Outlook and guidance
Expects active originations and net portfolio growth for the year, supported by a $100M senior secured revolving credit facility.
Pipeline of potential debt transactions increased to $780M across 43 borrowers, up from Q1.
Management intends to maintain quarterly dividends and RIC status, distributing at least 90% of taxable income.
Cannabis industry projected to grow from $35B in 2025 to $69B by 2031, supporting long-term lending opportunities.
No material changes to risk factors or business strategy were reported for the period.
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