Chicago Atlantic BDC Inc (FRA:48P)

Q1 2026 Chicago Atlantic BDC Inc Earnings Call Transcript

May 14, 2026 / 01:00 PM GMT

Release Date Price: €7.52 (+0.31%)

Transcript 8-K10-Q

Key Points

Positve

Chicago Atlantic BDC Inc (LIEN) reported a record net investment income of $10 million or $0.44 per share for the first quarter of 2026.
The company funded a record $93.9 million across seven portfolio companies, including three new borrowers, demonstrating strong execution on its pipeline.
Chicago Atlantic BDC Inc (LIEN) announced a $0.34 dividend, marking the seventh consecutive quarter at that rate.
The company's weighted average yield on debt investments was 15.8%, significantly higher than the average public BDC yield of 10.8%.
100% of the debt portfolio is senior secured, with 94% either fixed rate or floating rate at their respective floor, providing insulation against interest rate drops.

Negative

The company recognized a net unrealized loss of $1.4 million due to the impact of widening spreads.
Net expenses increased to $6.7 million from $5.9 million in the previous quarter, driven by higher interest expenses.
The portfolio is under-levered with a debt-to-equity ratio of 0.18 times, which is significantly below the BDC average of 1.3 times, potentially limiting growth.
The non-cannabis origination pipeline grew significantly, but the actual transaction volume remains uncertain.
Despite favorable regulatory changes, the anticipated increase in M&A activity in the cannabis sector has not materialized as expected.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

LIEN.OQ - Chicago Atlantic BDC Inc
Q1 2026 Chicago Atlantic BDC Inc Earnings Call
May 14, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and welcome to Chicago Atlantic BDC Inc. First Quarter 2026 Earning Conference Call.

All participants will be in the listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by 0. After today's presentation, there will be an opportunity to ask questions.

To ask a question, you may press then 1 on your telephone keypad. To withdraw your question, please press then 2. Please note this event is being recorded.

I would like to turn the conference over to Lisa Kemps. Please go ahead, ma'am.

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Unidentified_2 [2]
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