Advanced Flower Capital Inc.AFCG
What Advanced Flower Capital Inc. does.
The following description of the business of Advanced Flower Capital Inc. should be read in conjunction with the information included elsewhere in this Annual Report on Form 10-K for the year ended December 31, 2025.
Advanced Flower Capital Inc. is an institutional lender that was founded in July 2020 by a veteran team of investment professionals. We are a Maryland corporation and externally managed by AFC Management, LLC. Effective January 1, 2026, we elected to be regulated as a BDC under the Investment Company Act of 1940, as amended (the “1940 Act”).
During the year ended December 31, 2025, we primarily originated, structured, underwrote, invested in and managed senior secured loans and other types of mortgage loans and debt securities, with a specialization in loans to cannabis industry operators in states that have legalized medical and/or adult-use cannabis. During that period, our investment guidelines primarily related to deploying capital in attractive lending opportunities, typically secured by real estate, equipment, cash flows and license value, to (i) state law-compliant cannabis operators and ancillary cannabis companies and (ii) other public and privately held middle-market companies.
Revenue and profit, by fiscal year.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | — | — | $74.7M | $63.9M | $45.7M | $24.6M |
| Net income | — | $21.0M | $35.9M | $21.0M | $16.8M | -$20.7M |
More on AFCG.
- Advanced Flower Capital Inc. summary
- Advanced Flower Capital Inc. financial statements
- Advanced Flower Capital Inc. key metrics
- Advanced Flower Capital Inc. health scores and style box
- Advanced Flower Capital Inc. earnings
- Advanced Flower Capital Inc. dividends
- Advanced Flower Capital Inc. valuation
- Advanced Flower Capital Inc. ownership and insiders
- Advanced Flower Capital Inc. peers
Figures from Advanced Flower Capital Inc.'s filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.