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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.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
AFC Gamma Inc originates and invests in senior‑secured loans and other credit instruments for U.S. commercial real estate, with a focus on short‑term bridge and value‑add financing for property owners. Long‑term growth drivers include demand for non‑bank CRE financing as traditional lenders retrench and opportunities in middle‑market transactions; investors may find the company attractive for exposure to CRE credit through a specialized origination platform.
Key risks include heightened credit and property valuation pressure in a CRE downturn, sensitivity to interest rates and funding costs, reliance on capital market access and manager execution, and portfolio concentration.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | -21.29M | 14.31M | 22.38M | 36.96M | 21.04M |
| Net income | -20.67M | 16.78M | 20.95M | 35.93M | 21.00M |
| Selling general administrative | 4.68M | 5.53M | 19.85M | 6.04M | 4.96M |
| Selling and marketing expenses | - | - | 1.01M | - | - |
| Gross profit | 28.39M | 41.49M | 51.80M | 60.36M | 35.43M |
| Ebit | - | 13.86M | -18.63M | -26.55M | -13.33M |
| Ebitda | -14.53M | 20.65M | 26.98M | 43.77M | 21.04M |
| Depreciation and amortization | - | - | 45.61M | - | - |
| Non operating income net other | - | - | - | -3.59M | 0.62M |
| Operating income | -13.65M | 13.86M | 30.94M | 43.77M | 21.04M |
| Other operating expenses | 44.98M | 31.25M | 20.86M | 17.48M | 17.05M |
| Interest expense | 6.76M | 6.34M | 6.36M | 6.81M | 1.13M |
| Tax provision | -0.61M | 0.45M | 1.66M | 1.03M | 0.04M |
| Interest income | 31.32M | 51.99M | 70.54M | 81.50M | 38.14M |
| Net interest income | 24.56M | 45.66M | 64.18M | 74.68M | 37.01M |
| Income tax expense | -0.61M | 0.45M | 1.66M | 1.03M | 0.04M |
| Total revenue | 31.32M | 51.90M | 51.80M | 71.54M | 38.08M |
| Total operating expenses | 42.05M | 17.28M | 20.86M | 6.30M | -17.05M |
| Cost of revenue | 2.93M | 10.36M | 14.06M | 11.18M | 2.65M |
| Total other income expense net | -7.63M | 0.45M | -8.57M | -6.81M | 28.02M |
| Net income from continuing ops | -20.67M | 13.86M | 20.95M | 35.93M | 21.00M |
| Net income applicable to common shares | - | - | - | 35.93M | 21.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 275.59M | 402.06M | 466.59M | 519.18M | 464.85M |
| Other current assets | -207.57M | 3.20M | -127.18M | 0.46M | 0.95M |
| Total liab | 100.03M | 200.68M | 146.53M | 180.12M | 191.77M |
| Total stockholder equity | 175.57M | 201.38M | 320.05M | 339.06M | 273.08M |
| Other current liab | -0.76M | 11.57M | 44.41M | -65.07M | -82.15M |
| Common stock | 0.24M | 0.22M | 0.20M | 0.20M | 0.16M |
| Capital stock | 0.24M | 0.22M | 0.20M | 0.20M | 0.16M |
| Retained earnings | -83.36M | -50.71M | -29.96M | -9.96M | -1.09M |
| Other assets | 28.52M | 402.06M | -0.20M | 519.18M | 319.43M |
| Cash | 38.61M | 103.61M | 121.63M | 140.37M | 109.25M |
| Total current liabilities | 76.32M | 112.07M | 88.01M | 65.07M | 82.15M |
| Net debt | 37.72M | 85.00M | 8.39M | 16.76M | 62.17M |
| Short term debt | 76.32M | 100.00M | 42.00M | 60.00M | 74.85M |
| Short long term debt | 21.00M | 100.00M | 42.00M | 60.00M | 74.85M |
| Short long term debt total | 76.32M | 188.61M | 130.01M | 157.13M | 171.42M |
| Other stockholder equity | 258.69M | 251.87M | 349.81M | 348.82M | 274.17M |
| Total current assets | 39.50M | 402.06M | 404.38M | 145.63M | 129.54M |
| Long term investments | - | - | - | 99.23M | 350.24M |
| Net tangible assets | - | - | - | 339.06M | 273.08M |
| Short term investments | - | - | - | 0.10M | 15.88M |
| Net receivables | 0.90M | 295.25M | 5.55M | 5.26M | 4.41M |
| Long term debt | 76.32M | 88.61M | 88.01M | 97.13M | 96.57M |
| Accounts payable | 0.76M | 0.50M | 1.61M | 5.07M | 7.30M |
| Accumulated other comprehensive income | - | 0.00M | -0.00M | - | -0.17M |
| Common stock total equity | - | - | - | 0.20M | 0.16M |
| Preferred stock total equity | - | - | - | 0.00M | 0.00M |
| Retained earnings total equity | - | - | - | -9.96M | -1.09M |
| Non currrent assets other | 27.12M | 29.13M | 62.41M | 519.18M | -15.88M |
| Non current assets total | 236.09M | 29.83M | 62.41M | 519.18M | 15.88M |
| Long term debt total | - | - | - | 97.13M | 96.57M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | - | -4.85M | 28.52M | -16.34M | -248.46M |
| Change to liabilities | - | - | - | 0.96M | 5.55M |
| Total cashflows from investing activities | 34.90M | -4.85M | 28.52M | -16.34M | -248.46M |
| Net borrowings | -91.52M | 58.00M | -25.74M | -15.58M | 171.47M |
| Total cash from financing activities | -111.14M | -34.72M | -68.49M | 16.15M | 338.54M |
| Change to operating activities | - | - | - | 2.45M | 3.49M |
| Net income | -20.67M | 13.86M | 20.72M | 35.93M | 21.00M |
| Change in cash | -65.00M | -18.02M | -18.75M | 31.13M | 99.62M |
| Begin period cash flow | 103.61M | 121.63M | 140.37M | 109.25M | 9.62M |
| End period cash flow | 38.61M | 103.61M | 121.63M | 140.37M | 109.25M |
| Total cash from operating activities | 11.24M | 21.56M | 21.23M | 31.32M | 9.54M |
| Issuance of capital stock | 0.00M | 15.85M | 0.00M | 75.06M | 185.50M |
| Depreciation | 0.25M | 1.03M | 0.95M | 0.26M | 0.03M |
| Other cashflows from investing activities | 34.90M | -4.85M | 28.52M | - | - |
| Dividends paid | 19.35M | 39.99M | 42.53M | 41.62M | 14.39M |
| Change to inventory | - | - | - | - | 2.50M |
| Change to account receivables | 0.95M | 1.73M | 1.50M | -0.84M | -2.30M |
| Sale purchase of stock | 0.00M | -0.12M | 0.00M | 73.35M | 185.50M |
| Other cashflows from financing activities | 0.28M | -68.58M | -0.23M | 57.71M | 167.43M |
| Change to netincome | - | - | - | 15.66M | 3.33M |
| Capital expenditures | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Change receivables | - | - | - | -0.84M | -3.49M |
| Cash flows other operating | - | - | - | -9.54M | -11.30M |
| Cash and cash equivalents changes | - | - | - | 31.13M | 99.62M |
| Change in working capital | -2.06M | -0.94M | -4.60M | -1.06M | -4.80M |
| Stock based compensation | 6.84M | 1.39M | 0.99M | 1.34M | 1.75M |
| Other non cash items | 26.87M | 6.22M | 4.12M | -5.15M | -8.40M |
| Free cash flow | 11.24M | 21.56M | 21.23M | 31.32M | 9.54M |
Sector: Financial Services Industry: Asset Management
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
|---|---|---|---|---|---|---|---|
| AFCG AFC Gamma Inc |
0.01 0.34% |
2.99 | - | 3.60 | 33.39 | 0.38 | 9.86 |
| BLK BlackRock Inc |
8.39 0.74% |
1136.05 | 26.25 | 19.57 | 6.33 | 2.90 | 6.35 |
| BX Blackstone Group Inc |
-2.36 1.98% |
116.70 | 33.20 | 20.12 | 11.05 | 11.56 | 9.14 |
| IVSBF Investor AB ser. B |
- -% |
41.50 | 4.67 | 3.83 | 3.78 | 1.13 | 4.15 |
| KKR KKR & Co. Inc. |
0.30 0.33% |
91.92 | 32.68 | 13.66 | 3.58 | 3.22 | 0.68 |
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.
477 S. Rosemary Avenue, West Palm Beach, FL, United States, 33401
561 510 2390
| Name | Title | Year Born |
|---|---|---|
| Mr. Leonard Mark Tannenbaum C.F.A. | Co-Founder, Partner, CEO & Chairman | 1971 |
| Ms. Robyn Tannenbaum | Co-Founder, MD, Partner and Head of Origination & Investor Relations | 1986 |
| Mr. Brett H. Kaufman | CFO & Treasurer | 1972 |
| Mr. Jonathan Gilbert Kalikow | Partner, Head of Real Estate & Director | 1971 |
| Ms. Hailey Nicholas | Accounting Mang. | NA |
| Mr. Gabriel A. Katz | Chief Legal Officer | 1988 |
| Mr. James F. Velgot | Chief Marketing Officer | 1962 |
| Mr. Michael Attar | Controller of Tannenbaum Family Office | NA |
| Mr. Ian Kirby | Chief of Staff | NA |
| Mr. Brandon Hetzel | VP & Controller | NA |
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