NASDAQ · Financial Statements

Advanced Flower Capital Inc. (AFCG) Financial Statements

$3.01 NASDAQ: AFCG Market Cap $67.63M

Advanced Flower Capital Inc. most recently reported annual revenue of $31.0M, a net loss of $21.0M. Revenue grew at an average annual rate of 23.0% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Advanced Flower Capital Inc.: Revenue rose from $11.0M in 2020 to $31.0M in 2025, a change of +181.8% over 5 years; net profit was positive in 5 of 6 reported years; operating margin moved from 50.3% to -43.6%, a shift of -93.9 percentage points; the most recent year shows a net loss of $21.0M.

Income Statement — 6 Years (USD millions)

Metric202020212022202320242025
Revenue$11.0M$38.0M$72.0M$52.0M$52.0M$31.0M
Operating Expenses$6.0M$17.0M$28.0M$21.0M$38.0M$45.0M
Operating Profit$6.0M$21.0M$44.0M$31.0M$14.0M$-14.0M
Operating Margin50.3%55.2%61.2%59.7%26.7%-43.6%
Other Income$5.0M$28.0M$-3.0M$-9.0M$0$-8.0M
Interest$0$1.0M$7.0M$6.0M$6.0M$7.0M
Depreciation$0$16.0M$38.0M$0$1.0M$0
Profit Before Tax$10.0M$21.0M$37.0M$22.0M$14.0M$-21.0M
Tax$0$170,000$2.8M$7.4M$3.1M$2.9M
Net Profit$10.0M$21.0M$36.0M$21.0M$17.0M$-21.0M
EPS$0.32$1.28$1.80$1.02$0.80$-0.95
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$15.0M$4.0M$8.0M$23.0M$9.0M$2.0M$7.0M$6.0M$-1.0M$7.0M$10.0M$9.0M
Operating Expenses$17.0M$5.0M$6.0M$6.0M$2.0M$4.0M$3.0M$20.0M$2.0M$4.0M$-4.0M$1.0M
Operating Profit$-2.0M$-1.0M$2.0M$17.0M$6.0M$-1.0M$4.0M$-13.0M$-3.0M$3.0M$14.0M$8.0M
Operating Margin-15.7%-34.7%29.4%74.6%71.5%-52.6%60.1%-210.3%365.1%41.0%140.4%89.0%
Interest$2.0M$2.0M$2.0M$2.0M$2.0M$2.0M$2.0M$2.0M$2.0M$1.0M$2.0M$2.0M
Profit Before Tax$9.0M$-9.0M$-1.0M$15.0M$2.0M$-1.0M$4.0M$-13.0M$-13.0M$1.0M$12.0M$6.0M
Tax$7.7M$-7.5M$-11.2M$1.9M$24.1M$27.9M$2.7M$1.0M$6.5M$23.9M$5.2M$7.8M
Net Profit$8.0M$-9.0M$0$16.0M$1.0M$-1.0M$4.0M$-13.0M$-12.0M$1.0M$11.0M$5.0M
EPS$0.39$-0.45$0.00$0.80$0.07$-0.05$0.18$-0.60$-0.57$0.04$0.49$0.23

Over the 6 years reported for Advanced Flower Capital Inc., cash stood at $39.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 1.74 times.

Balance Sheet — 6 Years (USD millions)

Metric202020212022202320242025
Total Assets$94.0M$465.0M$519.0M$467.0M$402.0M$276.0M
Current Assets$94.0M$130.0M$146.0M$467.0M$402.0M$40.0M
Cash$10.0M$109.0M$140.0M$90.0M$104.0M$39.0M
Inventory$0$0$0$0$0$0
Receivables$83.0M$4.0M$5.0M$339.0M$295.0M$1.0M
Fixed Assets$0$0$0$0$0$0
Capital Work in Progress$0$0$0$0$0$0
Investments$0$32.0M$0$0$0$208.0M
Other Assets$0$0$0$0$0$0
Total Liabilities$2.0M$192.0M$180.0M$147.0M$201.0M$100.0M
Current Liabilities$2.0M$93.0M$81.0M$59.0M$112.0M$23.0M
Borrowings$0$171.0M$157.0M$130.0M$189.0M$97.0M
Other Liabilities$2.0M$20.0M$23.0M$17.0M$12.0M$3.0M
Equity$0$0$0$0$0$0
Reserves$92.0M$273.0M$339.0M$320.0M$201.0M$176.0M

For Advanced Flower Capital Inc., operating cash flow was positive in 6 of 6 reported years; free cash flow in the latest year was $11.0M; free cash flow was positive in 6 of 6 years.

Cash Flow Statement — 6 Years (USD millions)

Metric202020212022202320242025
Operating Cash Flow$2.0M$10.0M$31.0M$21.0M$22.0M$11.0M
Investing Cash Flow$-32.0M$-248.0M$-16.0M$29.0M$-5.0M$35.0M
Financing Cash Flow$0$-8.0M$-2.0M$0$-68.0M$0
Net Cash Flow$10.0M$100.0M$31.0M$-19.0M$-18.0M$-65.0M
Free Cash Flow$2.0M$10.0M$31.0M$21.0M$22.0M$11.0M

Valuation & Return Ratios

MetricValue
PEG Ratio-0.06
EV / EBITDA14.46
FCF Yield15.61%
Quick Ratio1.74
Interest Coverage3.14
Return 1Y-29.98%
Return 3Y-51.26%
Return 5Y-60.49%

Advanced Flower Capital Inc. (AFCG) financials — frequently asked questions

What is Advanced Flower Capital Inc.'s annual revenue?

Advanced Flower Capital Inc. (AFCG) reported annual revenue of $31.0M in its most recent fiscal year.

What is Advanced Flower Capital Inc.'s net profit?

Advanced Flower Capital Inc. (AFCG) reported a net loss of $21.0M in its most recent fiscal year.

What is AFCG EV/EBITDA?

Advanced Flower Capital Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 14.46.

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