Chicago Atlantic Real Estate Finance (NASDAQ:REFI), a cannabis-focused commercial real estate finance company, announced on Tuesday its financial results for the first quarter ended March 31, 2024.

Q1 2024 Financial Highlights

Net interest income stands at about $13.2 million, marking a sequential decline of 10.8% from the $14.8 million recorded in the fourth quarter of 2023. This downturn stems from the absence of prepayments and related fees received during the first quarter of 2024, compared to $1.8 million in prepayment fees and accelerated original issue discounts in the three months ended December 31, 2023. Total expenses amount to around $4.1 million before the provision for current expected credit losses, reflecting a...