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Silver Spike Investment (SSIC) Financials

Silver Spike Investment logo
$9.73 -0.12 (-1.22%)
As of 07/17/2026
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Annual Income Statements for Silver Spike Investment

Annual Income Statements for Silver Spike Investment

This table shows Silver Spike Investment's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2021 2023 2024 2025
Period end date 3/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -1.71 8.45 9.45 33
Consolidated Net Income / (Loss)		 -1.71 8.45 9.45 33
Net Income / (Loss) Continuing Operations		 -1.71 8.45 9.38 33
Total Pre-Tax Income 		-1.15 8.45 9.38 33
Total Operating Income		 -0.57 6.63 9.45 -16
Total Gross Profit		 -0.08 12 21 -3.86
Total Revenue		 -0.08 12 22 -3.86
Operating Revenue		 -0.08 12 22 -3.86
Total Cost of Revenue		 0.00 0.01 0.57 0.00
Total Operating Expenses		 0.49 5.29 12 12
Selling, General & Admin Expense		 0.42 0.79 1.66 5.49
Other Operating Expenses / (Income)		 0.04 3.45 4.36 6.15
Restructuring Charge		 0.00 0.71 5.34 0.00
Other Special Charges / (Income)		 0.03 0.34 0.28 0.72
Total Other Income / (Expense), net		 -0.57 1.83 -0.07 50
Interest Expense		 - 0.00 0.00 1.25
Interest & Investment Income		 -0.57 1.11 -0.07 49
Other Income / (Expense), net		 0.00 0.71 0.00 1.55
Basic Earnings per Share		 ($0.64) $2.25 $0.93 $1.46
Weighted Average Basic Shares Outstanding		 877.41K 6.21M 10.34M 22.82M
Diluted Earnings per Share		 ($0.64) $2.25 $0.93 $1.46
Weighted Average Diluted Shares Outstanding		 877.41K 6.21M 10.34M 22.82M
Weighted Average Basic & Diluted Shares Outstanding		 - 6.21M 22.82M 22.82M

Quarterly Income Statements for Silver Spike Investment

This table shows Silver Spike Investment's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -1.26 7.42 -7.87 1.53 0.01 -3.90 7.61 7.66 9.49 22 9.96
Consolidated Net Income / (Loss)		 -1.26 7.42 -7.87 1.53 0.01 -3.90 7.61 7.66 9.49 22 9.96
Net Income / (Loss) Continuing Operations		 -1.26 7.42 -7.87 1.53 0.01 -3.90 7.65 7.66 9.49 23 9.96
Total Pre-Tax Income 		-2.88 12 -7.79 1.53 0.01 -12 7.65 7.66 9.49 30 9.96
Total Operating Income		 -1.24 9.82 -5.55 1.53 -2.67 -4.49 -3.80 7.97 -4.23 -11 11
Total Gross Profit		 -0.46 13 0.03 2.65 0.36 -1.99 -1.43 11 -1.26 -12 14
Total Revenue		 -0.46 13 0.03 3.08 0.49 -1.90 -1.43 13 1.24 -17 17
Operating Revenue		 -0.46 13 0.03 3.08 0.49 -1.90 -1.43 13 1.24 -17 17
Total Cost of Revenue		 0.00 0.01 0.00 0.43 0.13 0.09 0.00 2.10 2.51 -4.60 2.59
Operating Cost of Revenue		 0.00 - - 0.43 0.13 - - 2.10 2.51 - 2.59
Total Operating Expenses		 0.78 3.37 5.58 1.13 3.03 2.50 2.37 3.02 2.97 -0.93 3.12
Selling, General & Admin Expense		 0.11 0.47 0.10 0.21 0.23 1.28 0.68 1.81 1.44 0.90 1.56
Other Operating Expenses / (Income)		 0.52 2.17 3.31 0.30 0.31 0.87 1.44 0.89 1.42 -1.89 1.52
Restructuring Charge		 0.00 0.71 2.11 0.53 2.43 0.27 0.00 0.00 0.00 - 0.00
Other Special Charges / (Income)		 0.15 0.01 0.06 0.08 0.06 0.08 0.25 0.31 0.10 0.05 0.05
Total Other Income / (Expense), net		 -1.64 2.49 -2.24 0.00 2.69 -7.40 11 -0.30 14 42 -1.02
Interest Expense		 - - 0.00 0.00 0.00 - 0.15 0.30 0.34 0.46 1.02
Interest & Investment Income		 -1.30 1.73 -2.84 0.00 2.69 -7.38 11 0.00 14 41 0.00
Other Income / (Expense), net		 -0.34 0.76 0.60 - 0.00 -0.02 0.32 - 0.23 - 0.00
Basic Earnings per Share		 $0.20 $1.48 $0.08 $0.21 ($0.03) $0.67 $0.33 $0.38 $0.39 $0.36 $0.37
Weighted Average Basic Shares Outstanding		 6.21M 6.21M 6.21M 6.21M 6.21M 10.34M 22.82M 22.82M 22.82M 22.82M 22.82M
Diluted Earnings per Share		 $0.20 $1.48 $0.08 $0.21 ($0.03) $0.67 $0.33 $0.38 $0.39 $0.36 $0.37
Weighted Average Diluted Shares Outstanding		 6.21M 6.21M 6.21M 6.21M 6.21M 10.34M 22.82M 22.82M 22.82M 22.82M 22.82M
Weighted Average Basic & Diluted Shares Outstanding		 6.21M 6.21M 6.21M 6.21M 22.82M 22.82M 22.82M 22.82M 22.82M 22.82M 22.82M

Annual Cash Flow Statements for Silver Spike Investment

This table details how cash moves in and out of Silver Spike Investment's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2021 2023 2024 2025
Period end date 3/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 85 -2.51 -8.68 -21
Net Cash From Operating Activities		 -0.51 5.75 -5.03 -20
Net Cash From Continuing Operating Activities		 -0.51 5.75 -5.03 -20
Net Income / (Loss) Continuing Operations		 -0.56 7.34 9.62 33
Consolidated Net Income / (Loss)		 -0.56 7.34 9.62 33
Amortization Expense		 0.00 -0.81 -1.10 -2.07
Non-Cash Adjustments To Reconcile Net Income		 0.02 -0.66 -13 -53
Changes in Operating Assets and Liabilities, net		 0.04 -0.12 -0.92 1.16
Net Cash From Investing Activities		 0.00 0.00 0.00 0.00
Net Cash From Continuing Investing Activities		 0.00 0.00 0.00 0.00
Net Cash From Financing Activities		 85 -8.26 -3.64 -0.52
Net Cash From Continuing Financing Activities		 85 -8.26 -3.64 -0.52
Repayment of Debt		 - 0.00 0.00 -28
Repurchase of Common Equity		 - 0.00 -0.27 -1.09
Payment of Dividends		 0.00 -8.26 -12 -23
Issuance of Debt		 - 0.00 0.00 52
Issuance of Common Equity		 85 0.00 9.05 0.00
Cash Interest Paid		 - 0.00 0.00 0.04
Cash Income Taxes Paid		 - 0.08 0.04 0.12

Quarterly Cash Flow Statements for Silver Spike Investment

This table details how cash moves in and out of Silver Spike Investment's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -3.07 2.79 0.55 0.84 -3.89 -6.18 -9.01 -1.09 -3.37 -7.53 0.41
Net Cash From Operating Activities		 0.84 7.14 2.10 2.48 -2.29 -7.33 -7.26 1.95 -1.39 -14 -21
Net Cash From Continuing Operating Activities		 0.84 7.14 2.10 2.48 -2.29 -7.33 -7.26 1.95 -1.39 -14 -21
Net Income / (Loss) Continuing Operations		 1.27 2.50 0.52 1.29 -0.17 7.97 7.61 8.58 8.83 8.25 8.54
Consolidated Net Income / (Loss)		 1.27 2.50 0.52 1.29 -0.17 7.97 7.61 8.58 8.83 8.25 8.54
Amortization Expense		 -0.13 -0.38 -0.14 -0.21 -0.15 -0.60 -0.38 -0.59 -0.71 -0.39 -1.22
Non-Cash Adjustments To Reconcile Net Income		 0.92 4.64 1.99 1.31 -1.84 -14 -14 -7.15 -8.73 -23 -27
Changes in Operating Assets and Liabilities, net		 -1.23 0.38 -0.26 0.09 -0.13 -0.59 -0.21 1.11 -0.79 1.06 -0.82
Net Cash From Investing Activities		 - - 0.00 - - - 0.00 - - - 0.00
Net Cash From Continuing Investing Activities		 - - 0.00 - - - 0.00 - - - 0.00
Net Cash From Financing Activities		 -3.91 -4.35 -1.55 -1.64 -1.61 1.15 -1.75 -3.04 -1.97 6.24 21
Net Cash From Continuing Financing Activities		 -3.91 -4.35 -1.55 -1.64 -1.61 1.15 -1.75 -3.04 -1.97 6.24 21
Repayment of Debt		 - - 0.00 - - - -0.76 -0.27 -0.12 -27 -16
Repurchase of Common Equity		 - - -0.00 -0.08 -0.05 -0.14 -0.99 -0.01 -0.09 - 0.00
Payment of Dividends		 -3.91 -4.35 -1.55 -1.55 -1.55 -7.76 0.00 -7.76 -7.76 -7.76 -7.76
Issuance of Debt		 - - - - - - 0.00 - 6.00 41 45
Cash Interest Paid		 - - - - - - 0.00 - - - 0.14
Cash Income Taxes Paid		 - - - - - - 0.12 - - - 0.07

Annual Balance Sheets for Silver Spike Investment

This table presents Silver Spike Investment's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 87 89 310 342
Total Current Assets		 35 33 27 345
Cash & Equivalents		 35 33 24 2.93
Short-Term Investments		 - - - 336
Accounts Receivable		 - 0.00 2.36 1.80
Prepaid Expenses		 0.03 0.09 0.32 0.77
Other Current Assets		 - - - 3.18
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 52 56 18 0.00
Total Liabilities & Shareholders' Equity		 87 89 310 340
Total Liabilities		 0.50 3.02 8.40 39
Total Current Liabilities		 0.00 0.00 0.00 9.73
Accrued Expenses		 - - - 0.46
Other Current Liabilities		 - - - 9.28
Total Noncurrent Liabilities		 0.50 3.02 8.40 27
Long-Term Debt		 - - 0.00 25
Other Noncurrent Operating Liabilities		 0.50 3.02 8.40 1.60
Commitments & Contingencies		 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 86 86 301 303
Total Preferred & Common Equity		 86 86 301 303
Total Common Equity		 86 86 301 303
Common Stock		 85 85 304 303
Retained Earnings		 1.50 0.45 -2.34 0.03

Quarterly Balance Sheets for Silver Spike Investment

This table presents Silver Spike Investment's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 89 90 90 89 314 332 327 373
Total Current Assets		 30 33 34 30 21 22 12 376
Cash & Equivalents		 30 33 34 30 15 14 10 3.35
Short-Term Investments		 - - - - - - - 367
Accounts Receivable		 - - 0.00 - 5.20 6.52 0.67 0.15
Prepaid Expenses		 0.10 0.26 0.18 0.10 1.25 1.42 1.07 1.31
Other Current Assets		 - - - - - - - 4.36
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 5.90 57 56 59 292 12 13 0.00
Total Liabilities & Shareholders' Equity		 89 90 90 89 314 332 327 371
Total Liabilities		 1.78 5.83 5.82 6.74 13 30 24 69
Total Current Liabilities		 0.09 0.00 0.00 0.00 0.00 0.00 0.00 9.75
Accrued Expenses		 - - - - - - - 0.46
Other Current Liabilities		 - - - - - - - 9.29
Total Noncurrent Liabilities		 1.69 5.83 5.82 6.74 13 30 24 57
Long-Term Debt		 - - - - - 5.00 11 55
Other Noncurrent Operating Liabilities		 1.69 5.83 5.82 6.74 13 25 13 2.24
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 87 85 84 83 301 302 303 304
Total Preferred & Common Equity		 87 85 84 83 301 302 303 304
Total Common Equity		 87 85 84 83 301 302 303 304
Common Stock		 85 85 85 85 303 303 303 303
Retained Earnings		 2.30 -0.57 -0.83 -2.55 -2.36 -1.54 -0.46 0.88

Annual Metrics And Ratios for Silver Spike Investment

This table displays calculated financial ratios and metrics derived from Silver Spike Investment's official financial filings.

Metric 2021 2023 2024 2025
Period end date 3/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 6,214,705.00 - 22,820,590.00
DEI Adjusted Shares Outstanding		 0.00 6,214,705.00 - 22,820,590.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 1.36 - 1.46
Growth Metrics		 - - - -
Revenue Growth		 0.00% 0.00% 38.34% -117.81%
EBITDA Growth		 0.00% 0.00% -118.64% -300.47%
EBIT Growth		 0.00% 0.00% -133.90% -255.19%
NOPAT Growth		 0.00% 0.00% -104.68% -271.55%
Net Income Growth		 0.00% 0.00% -324.74% 252.12%
EPS Growth		 0.00% 0.00% -21.19% 56.99%
Operating Cash Flow Growth		 0.00% 0.00% -187.57% -306.74%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 134.18%
Invested Capital Growth		 0.00% 0.00% -80.98% -147.03%
Revenue Q/Q Growth		 0.00% 0.00% -111.60% -145.78%
EBITDA Q/Q Growth		 0.00% 0.00% -9,635.00% -53.88%
EBIT Q/Q Growth		 0.00% 0.00% -1,446.23% -70.57%
NOPAT Q/Q Growth		 0.00% 0.00% -1,058.08% -169.36%
Net Income Q/Q Growth		 0.00% 0.00% -389.05% 715.73%
EPS Q/Q Growth		 0.00% 0.00% 38.81% -17.51%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% -153.34% -45.82%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% -254.30% 111.17%
Invested Capital Q/Q Growth		 0.00% 0.00% 36.50% -447.17%
Profitability Metrics		 - - - -
Gross Margin		 0.00% 99.91% 0.00% 0.00%
EBITDA Margin		 0.00% 54.72% 0.00% 0.00%
Operating Margin		 0.00% 55.55% 0.00% 0.00%
EBIT Margin		 0.00% 61.51% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 70.85% 0.00% 0.00%
Tax Burden Percent		 149.12% 100.00% 57.99% 99.78%
Interest Burden Percent		 200.00% 115.18% 218.78% -227.39%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.00% 9.83% -6.75% 11.01%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 8.36% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 9.63% 0.00% 0.00%
Return on Common Equity (ROCE)		 0.00% 9.83% -6.75% 11.01%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% -4.33% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.40 6.63 -7.32 -16
NOPAT Margin		 0.00% 55.55% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 0.00% 2.10% -2.94% 16.54%
Return On Investment Capital (ROIC_SIMPLE)		 - 7.75% -2.43% -4.94%
Cost of Revenue to Revenue		 0.00% 0.09% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 6.63% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 44.36% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -0.57 7.34 -10 -15
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.57 6.53 -11 -17
Valuation Ratios		 - - - -
Price to Book Value (P/BV)		 0.00 0.48 0.90 0.75
Price to Tangible Book Value (P/TBV)		 0.00 0.48 0.90 0.75
Price to Revenue (P/Rev)		 0.00 3.41 0.00 0.00
Price to Earnings (P/E)		 0.00 4.81 0.00 6.83
Dividend Yield		 0.00% 7.34% 9.21% 13.65%
Earnings Yield		 0.00% 20.80% 0.00% 14.64%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - -
Debt to Equity		 0.00 0.00 0.00 0.08
Long-Term Debt to Equity		 0.00 0.00 0.00 0.08
Financial Leverage		 0.00 -1.01 -1.01 -0.99
Leverage Ratio		 0.00 1.02 1.03 1.08
Compound Leverage Factor		 0.00 1.18 2.25 -2.45
Debt to Total Capital		 0.00% 0.00% 0.00% 7.61%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 7.61%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 100.00% 100.00% 92.39%
Debt to EBITDA		 0.00 0.00 0.00 -1.49
Net Debt to EBITDA		 0.00 0.00 0.00 18.77
Long-Term Debt to EBITDA		 0.00 0.00 0.00 -1.49
Debt to NOPAT		 0.00 0.00 0.00 -1.54
Net Debt to NOPAT		 0.00 0.00 0.00 19.38
Long-Term Debt to NOPAT		 0.00 0.00 0.00 -1.54
Altman Z-Score		 0.00 8.92 19.28 4.56
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - -
Current Ratio		 0.00 0.00 0.00 35.45
Quick Ratio		 0.00 0.00 0.00 35.05
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 -6.36 1.23
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.98
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 -16.39
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 -16.39
Efficiency Ratios		 - - - -
Asset Turnover		 0.00 0.14 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - -
Invested Capital		 0.00 -1.18 -2.13 -5.58
Invested Capital Turnover		 0.00 -10.12 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.00 0.00 -0.95 -17
Enterprise Value (EV)		 0.00 -46 -33 -87
Market Capitalization		 0.00 41 270 227
Book Value per Share		 $0.00 $13.77 $13.20 $13.30
Tangible Book Value per Share		 $0.00 $13.77 $13.20 $13.30
Total Capital		 0.00 86 301 328
Total Debt		 0.00 0.00 0.00 25
Total Long-Term Debt		 0.00 0.00 0.00 25
Net Debt		 0.00 -87 -303 -314
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 0.09 2.68 -3.98
Debt-free Net Working Capital (DFNWC)		 0.00 33 27 335
Net Working Capital (NWC)		 0.00 33 27 335
Net Nonoperating Expense (NNE)		 1.31 -1.83 5.73 -49
Net Nonoperating Obligations (NNO)		 0.00 -87 -303 -309
Total Depreciation and Amortization (D&A)		 0.00 -0.81 -1.10 -2.07
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.75% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 274.04% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 274.04% 0.00% 0.00%
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 $0.00 $1.18 $0.93 $1.46
Adjusted Weighted Average Basic Shares Outstanding		 0.00 6.21M 10.34M 22.82M
Adjusted Diluted Earnings per Share		 $0.00 $1.18 $0.93 $1.46
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 6.21M 10.34M 22.82M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 6.21M 22.82M 22.82M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.38 5.38 -3.38 -11
Normalized NOPAT Margin		 0.00% 45.08% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 70.85% 0.00% 0.00%
Debt Service Ratios		 - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 -11.74
NOPAT to Interest Expense		 0.00 0.00 0.00 -12.97
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 -11.74
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 -12.97
Payout Ratios		 - - - -
Dividend Payout Ratio		 0.00% 97.74% -95.19% 69.94%
Augmented Payout Ratio		 0.00% 97.74% -97.29% 73.22%

Quarterly Metrics And Ratios for Silver Spike Investment

This table displays calculated financial ratios and metrics derived from Silver Spike Investment's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 6,214,672.00 6,214,705.00 6,214,941.00 6,214,949.00 6,214,964.00 - 22,820,386.00 22,820,408.00 22,820,590.00 22,820,590.00 22,820,590.00
DEI Adjusted Shares Outstanding		 6,214,672.00 6,214,705.00 6,214,941.00 6,214,949.00 6,214,964.00 - 22,820,386.00 22,820,408.00 22,820,590.00 22,820,590.00 22,820,590.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.20 1.19 -1.27 0.25 0.00 - 0.33 0.34 0.42 0.99 0.44
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -500.06% 0.00% 109.20% 812.82% 205.82% -388.20% -4,338.57% 324.49% 154.29% -193.63% 1,267.60%
EBITDA Growth		 -175.56% 0.00% -2,006.86% 176.99% -65.16% -230.87% 24.10% 459.69% -66.71% -175.70% 352.85%
EBIT Growth		 -154.69% 0.00% -4,811.01% 198.36% -69.07% -287.20% 29.56% 422.14% -49.58% -170.45% 415.20%
NOPAT Growth		 -96.40% 0.00% -410.33% 276.77% -208.49% -133.92% 2.11% 422.14% -58.20% -170.45% 389.00%
Net Income Growth		 -363.12% 0.00% -4,403.11% -27.92% 101.15% 5.03% 196.77% 402.39% 65,301.88% 42.47% 30.84%
EPS Growth		 122.22% 0.00% -78.95% 10.53% -115.00% 63.41% 312.50% 80.95% 1,400.00% -46.27% 12.12%
Operating Cash Flow Growth		 0.00% 0.00% 181.47% 605.69% -371.96% -202.73% -445.41% -21.43% 38.97% -87.73% -186.74%
Free Cash Flow Firm Growth		 0.00% 0.00% 165.86% 0.00% 179.44% 0.00% -285.76% 108.09% -1,436.09% 95.36% 438.97%
Invested Capital Growth		 0.00% 0.00% -233.66% 0.00% 0.00% -80.98% 9.34% -55.69% 147.81% -147.03% -94.89%
Revenue Q/Q Growth		 -6.93% 2,954.31% 108.68% 9,029.88% -84.12% -324.78% -107.92% 1,127.71% -90.49% -1,459.42% 198.77%
EBITDA Q/Q Growth		 0.10% 696.05% -229.72% 125.89% -314.31% -103.10% -124.85% 182.06% -163.84% -149.91% 183.01%
EBIT Q/Q Growth		 -1.91% 768.89% -325.06% 130.83% -275.16% -90.79% -121.59% 192.51% -150.18% -184.57% 196.59%
NOPAT Q/Q Growth		 -0.37% 1,233.23% -188.93% 139.28% -275.16% -105.75% -123.55% 232.68% -153.07% -169.06% 196.59%
Net Income Q/Q Growth		 -159.70% 687.08% -91.55% 119.39% -99.05% 29.20% -51.74% 220.57% 23.83% 136.86% -55.68%
EPS Q/Q Growth		 5.26% 640.00% -80.49% 162.50% -114.29% 2,333.33% -50.75% 15.15% 2.63% -7.69% 2.78%
Operating Cash Flow Q/Q Growth		 138.94% 749.68% -70.54% 17.99% -192.08% -220.97% 0.95% 126.84% -171.52% -887.35% -51.28%
Free Cash Flow Firm Q/Q Growth		 0.00% 100.00% 0.00% 110.14% -85.26% -219.50% -232.95% 253.51% -194.63% 165.97% 130.68%
Invested Capital Q/Q Growth		 0.00% 0.00% -196.22% 9.98% -6.89% 36.50% -126.69% -54.58% 132.83% -447.17% -10.63%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 99.92% 100.00% 86.06% 73.47% 0.00% 0.00% 83.96% -101.39% 0.00% 84.47%
EBITDA Margin		 0.00% 77.25% -15,080.64% 42.77% -577.38% 0.00% 0.00% 56.39% -378.53% 0.00% 58.48%
Operating Margin		 0.00% 74.40% -16,438.24% 49.51% -546.28% 0.00% 0.00% 60.90% -339.85% 0.00% 65.78%
EBIT Margin		 0.00% 80.13% -14,661.59% 49.51% -546.28% 0.00% 0.00% 60.90% -321.32% 0.00% 65.78%
Profit (Net Income) Margin		 0.00% 56.22% -23,313.04% 49.51% 2.97% 0.00% 0.00% 58.60% 763.00% 0.00% 59.64%
Tax Burden Percent		 43.87% 60.29% 101.02% 100.00% 100.00% 32.80% 99.55% 100.00% 100.00% 74.44% 100.00%
Interest Burden Percent		 182.25% 116.39% 157.39% 100.00% -0.54% 263.82% -219.43% 96.22% -237.45% -265.52% 90.67%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.00% 9.83% -12.83% -13.44% -12.28% -6.75% 12.93% -2.80% 2.12% 11.01% 11.77%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -683.77% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 10.89% 0.00% 1.24% -19.68% 0.00% 0.00% 2.22% -13.01% 0.00% 2.73%
Return on Assets (ROA)		 0.00% 7.64% 0.00% 1.24% 0.11% 0.00% 0.00% 2.13% 30.88% 0.00% 2.48%
Return on Common Equity (ROCE)		 0.00% 9.83% -12.83% -13.44% -12.28% -6.75% 12.93% -2.80% 2.12% 11.01% 11.77%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% -13.16% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.87 9.82 -3.88 1.53 -2.67 -3.14 -3.80 7.97 -4.23 -11 11
NOPAT Margin		 0.00% 74.40% -11,506.77% 49.51% -546.28% 0.00% 0.00% 60.90% -339.85% 0.00% 65.78%
Net Nonoperating Expense Percent (NNEP)		 0.00% -2.77% -4.57% 0.00% 6.26% -0.39% 5.82% -0.15% 7.09% 11.32% -0.33%
Return On Investment Capital (ROIC_SIMPLE)		 - 11.47% -4.59% 1.81% -3.24% -1.04% -1.26% 2.60% -1.35% -3.46% 3.06%
Cost of Revenue to Revenue		 0.00% 0.08% 0.00% 13.94% 26.54% 0.00% 0.00% 16.04% 201.39% 0.00% 15.53%
SG&A Expenses to Revenue		 0.00% 3.60% 310.57% 6.96% 46.66% 0.00% 0.00% 13.86% 115.78% 0.00% 9.32%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 25.52% 16,538.24% 36.54% 619.74% 0.00% 0.00% 23.06% 238.45% 0.00% 18.69%
Earnings before Interest and Taxes (EBIT)		 -1.58 11 -4.95 1.53 -2.67 -4.51 -3.49 7.97 -4.00 -11 11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -1.71 10 -5.09 1.32 -2.82 -5.11 -3.86 7.38 -4.71 -12 9.77
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.48 0.64 0.78 0.71 0.90 0.75 0.78 0.79 0.75 0.70
Price to Tangible Book Value (P/TBV)		 0.00 0.48 0.64 0.78 0.71 0.90 0.75 0.78 0.79 0.75 0.70
Price to Revenue (P/Rev)		 0.00 3.41 0.00 29.12 18.28 0.00 11.14 30.78 28.43 0.00 14.93
Price to Earnings (P/E)		 0.00 4.81 0.00 0.00 0.00 0.00 9.02 0.00 58.73 6.83 5.98
Dividend Yield		 2.81% 7.34% 8.37% 9.24% 10.58% 9.21% 11.97% 12.27% 12.95% 13.65% 14.56%
Earnings Yield		 0.00% 20.80% 0.00% 0.00% 0.00% 0.00% 11.08% 0.00% 1.70% 14.64% 16.72%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 149.47 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 29.62 28.49 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.04 0.08 0.18
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.04 0.08 0.18
Financial Leverage		 0.00 -1.01 -1.01 -0.50 -0.51 -1.01 -1.02 -1.02 -1.00 -0.99 -1.02
Leverage Ratio		 0.00 1.02 1.04 1.04 1.05 1.03 1.05 1.09 1.08 1.08 1.13
Compound Leverage Factor		 0.00 1.19 1.64 1.04 -0.01 2.72 -2.30 1.05 -2.57 -2.86 1.03
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.63% 3.50% 7.61% 15.19%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.63% 3.50% 7.61% 15.19%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 98.37% 96.50% 92.39% 84.81%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.57 -1.01 -1.49 -17.54
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.01 -0.05 18.77 101.60
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.57 -1.01 -1.49 -17.54
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -1.01 -1.83 -1.54 -38.26
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.79 -0.09 19.38 221.63
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -1.01 -1.83 -1.54 -38.26
Altman Z-Score		 0.00 9.04 5.82 7.32 5.54 19.34 10.74 4.91 5.94 4.59 3.17
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 35.45 38.56
Quick Ratio		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 35.05 37.98
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -0.87 0.00 2.22 4.67 0.69 -2.19 -4.13 9.72 -9.19 6.07 14
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -28.39 32.25 -27.16 13.06 13.66
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -49.97 6.47 -4.12 -29.64 -20.33
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -49.97 6.47 -4.12 -29.64 -20.33
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.14 0.00 0.03 0.04 0.00 0.10 0.04 0.04 0.00 0.04
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5.33
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 68.47
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 68.47
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 0.00 -1.18 -3.49 -3.14 -3.36 -2.13 -3.17 -4.89 1.61 -5.58 -6.17
Invested Capital Turnover		 0.00 -10.12 0.00 -1.44 -1.91 0.00 -6.07 -1.91 -9.61 0.00 -3.06
Increase / (Decrease) in Invested Capital		 0.00 0.00 -6.11 -3.14 -3.36 -0.95 0.33 -1.75 4.97 -17 -3.00
Enterprise Value (EV)		 0.00 -46 -34 -21 -27 -33 -79 227 240 -87 -103
Market Capitalization		 0.00 41 54 66 59 270 225 236 240 227 213
Book Value per Share		 $0.00 $13.77 $13.60 $13.56 $13.28 $13.20 $13.19 $13.23 $13.27 $13.30 $13.33
Tangible Book Value per Share		 $0.00 $13.77 $13.60 $13.56 $13.28 $13.20 $13.19 $13.23 $13.27 $13.30 $13.33
Total Capital		 0.00 86 85 84 83 301 301 307 314 328 359
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5.00 11 25 55
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5.00 11 25 55
Net Debt		 0.00 -87 -88 -87 -86 -303 -304 -8.83 0.54 -314 -316
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 0.09 0.26 0.18 0.10 2.68 6.45 7.94 1.74 -3.98 -3.94
Debt-free Net Working Capital (DFNWC)		 0.00 33 33 34 30 27 21 22 12 335 366
Net Working Capital (NWC)		 0.00 33 33 34 30 27 21 22 12 335 366
Net Nonoperating Expense (NNE)		 0.40 2.40 3.98 0.00 -2.69 0.76 -11 0.30 -14 -34 1.02
Net Nonoperating Obligations (NNO)		 0.00 -87 -88 -87 -86 -303 -304 -307 -301 -309 -310
Total Depreciation and Amortization (D&A)		 -0.13 -0.38 -0.14 -0.21 -0.15 -0.60 -0.38 -0.59 -0.71 -0.39 -1.22
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.75% 0.00% 8.08% 3.22% 0.00% 31.94% 103.47% 20.69% 0.00% -27.57%
Debt-free Net Working Capital to Revenue		 0.00% 274.04% 0.00% 1,510.13% 939.74% 0.00% 105.80% 283.67% 144.81% 0.00% 2,566.16%
Net Working Capital to Revenue		 0.00% 274.04% 0.00% 1,510.13% 939.74% 0.00% 105.80% 283.67% 144.81% 0.00% 2,566.16%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.20 $1.48 $0.08 $0.21 ($0.03) $0.67 $0.33 $0.38 $0.39 $0.36 $0.37
Adjusted Weighted Average Basic Shares Outstanding		 6.21M 6.21M 6.21M 6.21M 6.21M 10.34M 22.82M 22.82M 22.82M 22.82M 22.82M
Adjusted Diluted Earnings per Share		 $0.20 $1.48 $0.08 $0.21 ($0.03) $0.67 $0.33 $0.38 $0.39 $0.36 $0.37
Adjusted Weighted Average Diluted Shares Outstanding		 6.21M 6.21M 6.21M 6.21M 6.21M 10.34M 22.82M 22.82M 22.82M 22.82M 22.82M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 6.21M 6.21M 6.21M 6.21M 22.82M 22.82M 22.82M 22.82M 22.82M 22.82M 22.82M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.76 7.38 -2.37 1.50 -0.13 -2.90 -2.49 5.80 -2.89 -7.93 7.72
Normalized NOPAT Margin		 0.00% 55.90% -7,018.26% 48.63% -26.05% 0.00% 0.00% 44.31% -232.06% 0.00% 46.24%
Pre Tax Income Margin		 0.00% 93.26% -23,076.57% 49.51% 2.97% 0.00% 0.00% 58.60% 763.00% 0.00% 59.64%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -23.98 26.44 -11.81 -24.49 10.72
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -26.15 26.44 -12.49 -24.49 10.72
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -23.98 26.44 -11.81 -24.49 10.72
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -26.15 26.44 -12.49 -24.49 10.72
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 97.74% -88.26% -97.07% -86.33% -95.19% 43.58% -316.31% 570.49% 69.94% 87.11%
Augmented Payout Ratio		 0.00% 97.74% -88.27% -97.80% -87.66% -97.29% 48.65% -338.32% 600.56% 73.22% 87.39%

Financials Breakdown Chart

Key Financial Trends

Chicago Atlantic BDC (NASDAQ: LIEN) showed a sharp rebound in profitability in Q1 2026, but the quarter also highlighted heavy reliance on investment income and ongoing balance-sheet leverage. Revenue, earnings, and cash flow all improved dramatically from the weak 2025 fourth quarter, though results remain lumpy from quarter to quarter. The company also continued paying a sizable dividend while taking on additional debt and slightly increasing cash.

  • Revenue and earnings rebounded strongly in Q1 2026. Total revenue rose to $16.7 million from a loss-adjusted $16.9 million in Q4 2025, and net income improved to $9.96 million from $22.48 million attributable to common shareholders in the prior quarter, with Q1 2026 EPS of $0.37.
  • Operating income expanded meaningfully versus recent quarters. Operating income reached $10.99 million in Q1 2026, compared with a $11.37 million operating loss in Q4 2025 and $7.97 million in Q2 2025.
  • Operating revenue recovered from prior volatility. Q1 2026 operating revenue of $16.7 million was well above Q3 2025’s $1.24 million and Q4 2025’s negative reported revenue figure, indicating a normalization in the top line.
  • Equity remains very large relative to liabilities. As of March 31, 2026, total equity was $304.2 million versus total liabilities of $68.9 million, which suggests a solid book-capital base.
  • The company ended Q1 2026 with positive cash generation from financing despite operating cash burn. Cash and equivalents rose by $411,564 during the quarter, helped by $45 million of debt issuance.
  • The business still produced negative operating cash flow in Q1 2026. Net cash from operating activities was -$20.8 million, showing that accounting profits did not translate into cash from operations this quarter.
  • Short-term investments make up most of the asset base. The balance sheet shows $366.9 million in short-term investments, versus only $3.3 million in cash, so liquidity is largely tied to marketable assets rather than cash on hand.
  • Dividend payments remain a major cash use. LIEN paid $7.76 million in dividends in Q1 2026, continuing a consistent pattern of shareholder payouts.
  • Share count stayed essentially flat. Weighted average diluted shares were 22.82 million in Q1 2026, similar to prior quarters, so per-share results were not meaningfully boosted by buybacks.
  • Leverage increased in Q1 2026. Long-term debt rose to $54.5 million from $11.0 million at Q3 2025 and $5.0 million at Q2 2025, indicating a more leveraged capital structure.
  • Operating cash flow has been inconsistent and often negative over the last year. LIEN posted negative operating cash flow in Q4 2025 (-$13.8 million), Q3 2025 (-$1.4 million), and Q1 2026 (-$20.8 million), despite profitable quarters on the income statement.
  • Results remain highly volatile quarter to quarter. Revenue and earnings swung from strong profit in mid-2025 to a deep loss in Q4 2025 before recovering in Q1 2026, which makes trend forecasting difficult.

Bottom line: Chicago Atlantic BDC’s latest quarter looked much healthier than late 2025, with a strong rebound in revenue, operating income, and net income. Still, investors should watch the company’s cash conversion and rising debt, because the business has shown a pattern of earnings volatility and weak operating cash flow even when reported profits are strong.

07/21/26 06:06 AM ETAI Generated. May Contain Errors.

Silver Spike Investment Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Silver Spike Investment's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Silver Spike Investment's net income appears to be on an upward trend, with a most recent value of $33.28 million in 2025, falling from -$1.71 million in 2021. The previous period was $9.45 million in 2024.

Silver Spike Investment's total operating income in 2025 was -$16.21 million, based on the following breakdown:
  • Total Gross Profit: -$3.86 million
  • Total Operating Expenses: $12.35 million

Over the last 3 years, Silver Spike Investment's total revenue changed from -$83.15 thousand in 2021 to -$3.86 million in 2025, a change of 4,541.0%.

Silver Spike Investment's total liabilities were at $38.59 million at the end of 2025, a 359.5% increase from 2024, and a 7,687.1% increase since 2022.

In the past 3 years, Silver Spike Investment's cash and equivalents has ranged from $2.93 million in 2025 to $35.13 million in 2022, and is currently $2.93 million as of their latest financial filing in 2025.

Over the last 3 years, Silver Spike Investment's book value per share changed from 0.00 in 2021 to 13.30 in 2025, a change of 1,329.5%.


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Financial statements for NASDAQ:SSIC last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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Louis Navellier: My #1 AI stock for 2026 (name & ticker inside)
Louis Navellier's Stock Grader system helped him flag Nvidia before its 82,000% run and has identified the top...
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Trump Takes Emergency Action - Plus Elon Musk's New Venture
Elon Musk has quietly launched a new venture - one that has nothing to do with rockets, EVs, or Neuralink. Tru...
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Your $29.97 book is free today
Why Some Traders Skip Stocks Entirely You don't need a big account to trade options. In fact, options ca...
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SPCX Warning - and Worst News for Stocks in 50 Years
Goldman Sachs and Morgan Stanley are now predicting what could be the worst news for the U.S. stock market in ...
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Ready to give options a try? Your first trade (Ticker included) -INSIDE
Tired of trying tactic after tactic when it comes to options trades... only to be met with market noise and st...
Base Camp Trading | Sponsoredtc pixel
CODE RED: AI Meltdown Imminent?
After correctly predicting the 2008 and 2020 stock market meltdowns, I believe this AI company is about to tri...
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Elon’s new "tollbooth"
The SpaceX IPO was valued at $1.75 trillion. But one analyst says fighting over those shares may be the wrong ...
Weiss Ratings | Sponsoredtc pixel
Elon's new "super startup"
Adam O'Dell - the analyst who recommended Palantir before it became the top S&P 500 performer - has identified...
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