Advanced Flower Capital Inc. AFCG
Advanced Flower Capital Inc. originates, structures, underwrites, invests in, and manages senior secured loans and other types of mortgage loans and debt securities for established companies operating in the cannabis industry. It primarily originates loans structured as senior loans secured by real estate, equipment, cash flows, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties. The company was formerly known as AFC Gamma, Inc. and changed its name to Advanced Flower Capital Inc. in October 2024. Advanced Flower Capital Inc. was incorporated in 2020 and is based in West Palm Beach, Florida.
Business overview written from the company's own Form 10-K (Item 1), filed 2026-03-04 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K
Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.
Snapshot
Reported FFO / Distributable Earnings / leverage are from the Full Year 2025 earnings release (filed 2026-03-04) — 8-K, EX-99.1 ✓ Verified to filing.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
$10,000 invested
Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.
Model AFCG yourself — any amount, shares, per-payment & a multi-year DRIP projection →
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $31.32M | $-20.67M | $0.00 | $-14.53M | $11.24M |
| 2024 | $51.90M | $16.78M | $1.03M | $21.67M | $21.56M |
| 2023 | $51.80M | $20.95M | $0.00 | $0.00 | $21.23M |
| 2022 | $71.54M | $35.93M | $38.18M | $81.95M | $31.32M |
| 2021 | $38.08M | $21.00M | $16.43M | $38.59M | $9.54M |
| 2020 | $11.48M | $10.35M | $0.00 | $0.00 | $1.52M |
Dividends
Recent regular dividends per share (special distributions excluded), oldest → newest.
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-06-30 | 2026-06-30 | 2026-07-15 | 2026-06-15 | $0.05 | Quarterly |
| 2026-03-31 | 2026-03-31 | 2026-04-15 | 2026-03-02 | $0.05 | Semi-Annual |
| 2025-09-30 | 2025-09-30 | 2025-10-15 | 2025-09-15 | $0.15 | Quarterly |
| 2025-06-30 | 2025-06-30 | 2025-07-15 | 2025-06-13 | $0.15 | Quarterly |
| 2025-03-31 | 2025-03-31 | 2025-04-15 | 2025-03-11 | $0.23 | Quarterly |
| 2024-12-31 | 2024-12-31 | 2025-01-15 | 2024-12-13 | $0.33 | Quarterly |
| 2024-09-30 | 2024-09-30 | 2024-10-15 | 2024-09-12 | $0.33 | Quarterly |
| 2024-07-08 | 2024-07-08 | 2024-07-15 | 2024-06-27 | $0.15 | Special |
| 2024-06-24 | 2024-06-24 | 2024-07-15 | 2024-06-13 | $0.48 | Quarterly |
| 2024-03-27 | 2024-03-31 | 2024-04-15 | 2024-03-04 | $0.48 | Quarterly |
| 2023-12-28 | 2023-12-31 | 2024-01-12 | 2023-12-15 | $0.48 | Quarterly |
| 2023-09-28 | 2023-09-30 | 2023-10-13 | 2023-09-15 | $0.48 | Quarterly |
| 2023-06-29 | 2023-06-30 | 2023-07-14 | 2023-06-15 | $0.48 | Quarterly |
| 2023-03-30 | 2023-03-31 | 2023-04-14 | 2023-03-02 | $0.56 | Quarterly |
| 2022-12-29 | 2022-12-31 | 2023-01-13 | 2022-12-15 | $0.56 | Quarterly |
| 2022-09-29 | 2022-09-30 | 2022-10-14 | 2022-09-15 | $0.56 | Quarterly |
| 2022-06-29 | 2022-06-30 | 2022-07-15 | 2022-06-15 | $0.56 | Quarterly |
| 2022-03-30 | 2022-03-31 | 2022-04-15 | 2022-03-10 | $0.55 | Quarterly |
| 2021-12-30 | 2021-12-31 | 2022-01-14 | 2021-12-15 | $0.50 | Quarterly |
| 2021-09-29 | 2021-09-30 | 2021-10-15 | 2021-09-15 | $0.43 | Quarterly |
| 2021-06-14 | 2021-06-15 | 2021-06-30 | 2021-05-07 | $0.38 | Quarterly |
| 2021-03-12 | 2021-03-15 | 2021-03-31 | — | $0.36 | Quarterly |
Coverage (payout of operating cash flow): 39.67%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Recent news — AFCG
Advanced Flower Capital Inc. (AFCG) Q2 2026 Earnings Call Transcript
AFC Gamma Q2 Earnings Call Highlights
AFC Announces Financial Results for the Second Quarter 2026
AFC Schedules Earnings Release and Conference Call for the Second Quarter Ended June 30, 2026
AFC Commits $7 Million to a Senior Credit Facility
AFC Announces Dividend for the Second Quarter 2026
Advanced Flower Capital Inc. (AFCG) Q1 Earnings and Revenues Beat Estimates
Advanced Flower Capital Inc. (AFCG) Q1 2026 Earnings Call Transcript
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Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.