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Silver Spike Investment (SSIC) Financials

Silver Spike Investment logo
$9.12 -0.03 (-0.33%)
As of 10/13/2026
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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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 7.42 -7.87 1.53 0.01 -3.90 7.61 7.66 9.49 22 9.96 7.65
Consolidated Net Income / (Loss)		 7.42 -7.87 1.53 0.01 -3.90 7.61 7.66 9.49 22 9.96 7.65
Net Income / (Loss) Continuing Operations		 7.42 -7.87 1.53 0.01 -3.90 7.65 7.66 9.49 23 9.96 7.65
Total Pre-Tax Income 		12 -7.79 1.53 0.01 -12 7.65 7.66 9.49 30 9.96 7.65
Total Operating Income		 9.82 -5.55 1.53 -2.67 -4.49 -3.80 -4.73 -4.23 -11 11 -4.63
Total Gross Profit		 13 0.03 2.65 0.36 -1.99 -1.43 -0.92 -1.26 -12 14 -1.35
Total Revenue		 13 0.03 3.08 0.49 -1.90 -1.43 -0.79 1.24 -17 17 -1.24
Operating Revenue		 13 0.03 3.08 0.49 -1.90 -1.43 -0.79 1.24 -17 17 -1.24
Total Cost of Revenue		 0.01 0.00 0.43 0.13 0.09 0.00 0.13 2.51 -4.60 2.59 0.12
Operating Cost of Revenue		 - - 0.43 0.13 - - 0.13 2.51 - 2.59 0.12
Total Operating Expenses		 3.37 5.58 1.13 3.03 2.50 2.37 3.81 2.97 -0.93 3.12 3.28
Selling, General & Admin Expense		 0.47 0.10 0.21 0.23 1.28 0.68 1.81 1.44 0.90 1.56 1.50
Other Operating Expenses / (Income)		 2.17 3.31 0.30 0.31 0.87 1.44 1.68 1.42 -1.89 1.52 1.71
Restructuring Charge		 0.71 2.11 0.53 2.43 0.27 0.00 0.00 0.00 - 0.00 0.00
Other Special Charges / (Income)		 0.01 0.06 0.08 0.06 0.08 0.25 0.31 0.10 0.05 0.05 0.07
Total Other Income / (Expense), net		 2.49 -2.24 0.00 2.69 -7.40 11 12 14 42 -1.02 12
Interest Expense		 - 0.00 0.00 0.00 - 0.15 0.30 0.34 0.46 1.02 1.00
Interest & Investment Income		 1.73 -2.84 0.00 2.69 -7.38 11 12 14 41 0.00 13
Other Income / (Expense), net		 0.76 0.60 - 0.00 -0.02 0.32 0.79 0.23 - 0.00 0.00
Basic Earnings per Share		 $1.48 $0.08 $0.21 ($0.03) $0.67 $0.33 $0.38 $0.39 $0.36 $0.37 $0.27
Weighted Average Basic Shares Outstanding		 6.21M 6.21M 6.21M 6.21M 10.34M 22.82M 22.82M 22.82M 22.82M 22.82M 22.82M
Diluted Earnings per Share		 $1.48 $0.08 $0.21 ($0.03) $0.67 $0.33 $0.38 $0.39 $0.36 $0.37 $0.27
Weighted Average Diluted Shares Outstanding		 6.21M 6.21M 6.21M 6.21M 10.34M 22.82M 22.82M 22.82M 22.82M 22.82M 22.82M
Weighted Average Basic & Diluted Shares Outstanding		 6.21M 6.21M 6.21M 22.82M 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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Change in Cash & Equivalents		 2.79 0.55 0.84 -3.89 -6.18 -9.01 -1.09 -3.37 -7.53 0.41 -2.42
Net Cash From Operating Activities		 7.14 2.10 2.48 -2.29 -7.33 -7.26 1.95 -1.39 -14 -21 33
Net Cash From Continuing Operating Activities		 7.14 2.10 2.48 -2.29 -7.33 -7.26 1.95 -1.39 -14 -21 33
Net Income / (Loss) Continuing Operations		 2.50 0.52 1.29 -0.17 7.97 7.61 8.58 8.83 8.25 8.54 6.06
Consolidated Net Income / (Loss)		 2.50 0.52 1.29 -0.17 7.97 7.61 8.58 8.83 8.25 8.54 6.06
Amortization Expense		 -0.38 -0.14 -0.21 -0.15 -0.60 -0.38 -0.59 -0.71 -0.39 -1.22 -0.38
Non-Cash Adjustments To Reconcile Net Income		 4.64 1.99 1.31 -1.84 -14 -14 -7.15 -8.73 -23 -27 27
Changes in Operating Assets and Liabilities, net		 0.38 -0.26 0.09 -0.13 -0.59 -0.21 1.11 -0.79 1.06 -0.82 -0.03
Net Cash From Financing Activities		 -4.35 -1.55 -1.64 -1.61 1.15 -1.75 -3.04 -1.97 6.24 21 -35
Net Cash From Continuing Financing Activities		 -4.35 -1.55 -1.64 -1.61 1.15 -1.75 -3.04 -1.97 6.24 21 -35
Repayment of Debt		 - 0.00 - - - -0.76 -0.27 -0.12 -27 -16 -29
Repurchase of Common Equity		 - -0.00 -0.08 -0.05 -0.14 -0.99 -0.01 -0.09 - 0.00 -0.14
Payment of Dividends		 -4.35 -1.55 -1.55 -1.55 -7.76 0.00 -7.76 -7.76 -7.76 -7.76 -7.76
Issuance of Debt		 - - - - - 0.00 - 6.00 41 45 1.50
Cash Interest Paid		 - - - - - 0.00 - - - 0.14 0.78

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 Q2 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 6/30/2026
Total Assets		 89 90 90 89 314 332 327 373 344
Total Current Assets		 30 33 34 30 21 22 12 376 347
Cash & Equivalents		 30 33 34 30 15 14 10 3.35 0.93
Short-Term Investments		 - - - - - - - 367 338
Accounts Receivable		 - - 0.00 - 5.20 6.52 0.67 0.15 2.01
Prepaid Expenses		 0.10 0.26 0.18 0.10 1.25 1.42 1.07 1.31 2.61
Other Current Assets		 - - - - - - - 4.36 3.59
Plant, Property, & Equipment, net		 0.00 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 0.00
Total Liabilities & Shareholders' Equity		 89 90 90 89 314 332 327 371 342
Total Liabilities		 1.78 5.83 5.82 6.74 13 30 24 69 41
Total Current Liabilities		 0.09 0.00 0.00 0.00 0.00 0.00 0.00 9.75 9.43
Accrued Expenses		 - - - - - - - 0.46 0.12
Other Current Liabilities		 - - - - - - - 9.29 9.31
Total Noncurrent Liabilities		 1.69 5.83 5.82 6.74 13 30 24 57 30
Long-Term Debt		 - - - - - 5.00 11 55 27
Other Noncurrent Operating Liabilities		 1.69 5.83 5.82 6.74 13 25 13 2.24 3.12
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 87 85 84 83 301 302 303 304 302
Total Preferred & Common Equity		 87 85 84 83 301 302 303 304 302
Total Common Equity		 87 85 84 83 301 302 303 304 302
Common Stock		 85 85 85 85 303 303 303 303 303
Retained Earnings		 2.30 -0.57 -0.83 -2.55 -2.36 -1.54 -0.46 0.88 -0.82

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
DEI Shares Outstanding		 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 22,820,590.00
DEI Adjusted Shares Outstanding		 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 22,820,590.00
DEI Earnings Per Adjusted Shares Outstanding		 1.19 -1.27 0.25 0.00 - 0.33 0.34 0.42 0.99 0.44 0.34
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 109.20% 812.82% 205.82% -388.20% -4,338.57% 324.49% 154.29% -193.63% 1,267.60% -55.91%
EBITDA Growth		 0.00% -2,006.86% 176.99% -65.16% -230.87% 24.10% 459.69% -66.71% -175.70% 352.85% -10.63%
EBIT Growth		 0.00% -4,811.01% 198.36% -69.07% -287.20% 29.56% 422.14% -49.58% -170.45% 415.20% -17.62%
NOPAT Growth		 0.00% -410.33% 276.77% -208.49% -133.92% 2.11% 422.14% -58.20% -170.45% 389.00% 2.06%
Net Income Growth		 0.00% -4,403.11% -27.92% 101.15% 5.03% 196.77% 402.39% 65,301.88% 42.47% 30.84% -0.15%
EPS Growth		 0.00% -78.95% 10.53% -115.00% 63.41% 312.50% 80.95% 1,400.00% -46.27% 12.12% -28.95%
Operating Cash Flow Growth		 0.00% 181.47% 605.69% -371.96% -202.73% -445.41% -21.43% 38.97% -87.73% -186.74% 1,591.21%
Free Cash Flow Firm Growth		 0.00% 165.86% 0.00% 179.44% 0.00% -285.76% 108.09% -1,436.09% 95.36% 438.97% -73.77%
Invested Capital Growth		 0.00% -233.66% 0.00% 0.00% -80.98% 9.34% -55.69% 147.81% -147.03% -94.89% 11.15%
Revenue Q/Q Growth		 2,954.31% 108.68% 9,029.88% -84.12% -324.78% -107.92% 1,127.71% -90.49% -1,459.42% 198.77% -107.42%
EBITDA Q/Q Growth		 696.05% -229.72% 125.89% -314.31% -103.10% -124.85% 182.06% -163.84% -149.91% 183.01% -151.30%
EBIT Q/Q Growth		 768.89% -325.06% 130.83% -275.16% -90.79% -121.59% 192.51% -150.18% -184.57% 196.59% -142.18%
NOPAT Q/Q Growth		 1,233.23% -188.93% 139.28% -275.16% -105.75% -123.55% 232.68% -153.07% -169.06% 196.59% -142.18%
Net Income Q/Q Growth		 687.08% -91.55% 119.39% -99.05% 29.20% -51.74% 220.57% 23.83% 136.86% -55.68% -23.18%
EPS Q/Q Growth		 640.00% -80.49% 162.50% -114.29% 2,333.33% -50.75% 15.15% 2.63% -7.69% 2.78% -27.03%
Operating Cash Flow Q/Q Growth		 749.68% -70.54% 17.99% -192.08% -220.97% 0.95% 126.84% -171.52% -887.35% -51.28% 258.30%
Free Cash Flow Firm Q/Q Growth		 100.00% 0.00% 110.14% -85.26% -219.50% -232.95% 253.51% -194.63% 165.97% 130.68% -137.02%
Invested Capital Q/Q Growth		 0.00% -196.22% 9.98% -6.89% 36.50% -126.69% -54.58% 132.83% -447.17% -10.63% 29.53%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 99.92% 100.00% 86.06% 73.47% 0.00% 0.00% 83.96% -101.39% 0.00% 84.47% 0.00%
EBITDA Margin		 77.25% -15,080.64% 42.77% -577.38% 0.00% 0.00% 56.39% -378.53% 0.00% 58.48% 0.00%
Operating Margin		 74.40% -16,438.24% 49.51% -546.28% 0.00% 0.00% 60.90% -339.85% 0.00% 65.78% 0.00%
EBIT Margin		 80.13% -14,661.59% 49.51% -546.28% 0.00% 0.00% 60.90% -321.32% 0.00% 65.78% 0.00%
Profit (Net Income) Margin		 56.22% -23,313.04% 49.51% 2.97% 0.00% 0.00% 58.60% 763.00% 0.00% 59.64% 0.00%
Tax Burden Percent		 60.29% 101.02% 100.00% 100.00% 32.80% 99.55% 100.00% 100.00% 74.44% 100.00% 100.00%
Interest Burden Percent		 116.39% 157.39% 100.00% -0.54% 263.82% -219.43% 96.22% -237.45% -265.52% 90.67% -165.13%
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)		 9.83% -12.83% -13.44% -12.28% -6.75% 12.93% -2.80% 2.12% 11.01% 11.77% 11.79%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -683.77% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 10.89% 0.00% 1.24% -19.68% 0.00% 0.00% 2.22% -13.01% 0.00% 2.73% 0.00%
Return on Assets (ROA)		 7.64% 0.00% 1.24% 0.11% 0.00% 0.00% 2.13% 30.88% 0.00% 2.48% 0.00%
Return on Common Equity (ROCE)		 9.83% -12.83% -13.44% -12.28% -6.75% 12.93% -2.80% 2.12% 11.01% 11.77% 11.79%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -13.16% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 9.82 -3.88 1.53 -2.67 -3.14 -3.80 7.97 -4.23 -11 11 -4.63
NOPAT Margin		 74.40% -11,506.77% 49.51% -546.28% 0.00% 0.00% 60.90% -339.85% 0.00% 65.78% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -2.77% -4.57% 0.00% 6.26% -0.39% 5.82% -0.15% 7.09% 11.32% -0.33% 4.01%
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% -1.41%
Cost of Revenue to Revenue		 0.08% 0.00% 13.94% 26.54% 0.00% 0.00% 16.04% 201.39% 0.00% 15.53% 0.00%
SG&A Expenses to Revenue		 3.60% 310.57% 6.96% 46.66% 0.00% 0.00% 13.86% 115.78% 0.00% 9.32% 0.00%
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		 25.52% 16,538.24% 36.54% 619.74% 0.00% 0.00% 23.06% 238.45% 0.00% 18.69% 0.00%
Earnings before Interest and Taxes (EBIT)		 11 -4.95 1.53 -2.67 -4.51 -3.49 7.97 -4.00 -11 11 -4.63
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 10 -5.09 1.32 -2.82 -5.11 -3.86 7.38 -4.71 -12 9.77 -5.01
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.48 0.64 0.78 0.71 0.90 0.75 0.78 0.79 0.75 0.70 0.74
Price to Tangible Book Value (P/TBV)		 0.48 0.64 0.78 0.71 0.90 0.75 0.78 0.79 0.75 0.70 0.74
Price to Revenue (P/Rev)		 3.41 0.00 29.12 18.28 0.00 11.14 30.78 28.43 0.00 14.93 16.12
Price to Earnings (P/E)		 4.81 0.00 0.00 0.00 0.00 9.02 0.00 58.73 6.83 5.98 6.26
Dividend Yield		 7.34% 8.37% 9.24% 10.58% 9.21% 11.97% 12.27% 12.95% 13.65% 14.56% 13.92%
Earnings Yield		 20.80% 0.00% 0.00% 0.00% 0.00% 11.08% 0.00% 1.70% 14.64% 16.72% 15.97%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 149.47 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 29.62 28.49 0.00 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 0.02 0.04 0.08 0.18 0.09
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.04 0.08 0.18 0.09
Financial Leverage		 -1.01 -1.01 -0.50 -0.51 -1.01 -1.02 -1.02 -1.00 -0.99 -1.02 -1.02
Leverage Ratio		 1.02 1.04 1.04 1.05 1.03 1.05 1.09 1.08 1.08 1.13 1.12
Compound Leverage Factor		 1.19 1.64 1.04 -0.01 2.72 -2.30 1.05 -2.57 -2.86 1.03 -1.85
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.63% 3.50% 7.61% 15.19% 8.19%
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% 1.63% 3.50% 7.61% 15.19% 8.19%
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		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 98.37% 96.50% 92.39% 84.81% 91.81%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 -0.57 -1.01 -1.49 -17.54 -7.52
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 1.01 -0.05 18.77 101.60 86.83
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 -0.57 -1.01 -1.49 -17.54 -7.52
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 -1.01 -1.83 -1.54 -38.26 -20.34
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 1.79 -0.09 19.38 221.63 234.81
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 -1.01 -1.83 -1.54 -38.26 -20.34
Altman Z-Score		 9.04 5.82 7.32 5.54 19.34 10.74 4.91 5.94 4.59 3.17 4.40
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 35.45 38.56 36.77
Quick Ratio		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 35.05 37.98 36.12
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 2.22 4.67 0.69 -2.19 -4.13 9.72 -9.19 6.07 14 -5.18
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 -28.39 32.25 -27.16 13.06 13.66 -5.18
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 -49.97 6.47 -4.12 -29.64 -20.33 32.94
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 -49.97 6.47 -4.12 -29.64 -20.33 32.94
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.14 0.00 0.03 0.04 0.00 0.10 0.04 0.04 0.00 0.04 0.04
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5.33 3.24
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 68.47 112.51
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 68.47 112.51
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -1.18 -3.49 -3.14 -3.36 -2.13 -3.17 -4.89 1.61 -5.58 -6.17 -4.35
Invested Capital Turnover		 -10.12 0.00 -1.44 -1.91 0.00 -6.07 -1.91 -9.61 0.00 -3.06 -2.99
Increase / (Decrease) in Invested Capital		 0.00 -6.11 -3.14 -3.36 -0.95 0.33 -1.75 4.97 -17 -3.00 0.55
Enterprise Value (EV)		 -46 -34 -21 -27 -33 -79 227 240 -87 -103 -89
Market Capitalization		 41 54 66 59 270 225 236 240 227 213 223
Book Value per Share		 $13.77 $13.60 $13.56 $13.28 $13.20 $13.19 $13.23 $13.27 $13.30 $13.33 $13.26
Tangible Book Value per Share		 $13.77 $13.60 $13.56 $13.28 $13.20 $13.19 $13.23 $13.27 $13.30 $13.33 $13.26
Total Capital		 86 85 84 83 301 301 307 314 328 359 329
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 5.00 11 25 55 27
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 5.00 11 25 55 27
Net Debt		 -87 -88 -87 -86 -303 -304 -8.83 0.54 -314 -316 -312
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)		 0.09 0.26 0.18 0.10 2.68 6.45 7.94 1.74 -3.98 -3.94 -1.23
Debt-free Net Working Capital (DFNWC)		 33 33 34 30 27 21 22 12 335 366 337
Net Working Capital (NWC)		 33 33 34 30 27 21 22 12 335 366 337
Net Nonoperating Expense (NNE)		 2.40 3.98 0.00 -2.69 0.76 -11 0.30 -14 -34 1.02 -12
Net Nonoperating Obligations (NNO)		 -87 -88 -87 -86 -303 -304 -307 -301 -309 -310 -307
Total Depreciation and Amortization (D&A)		 -0.38 -0.14 -0.21 -0.15 -0.60 -0.38 -0.59 -0.71 -0.39 -1.22 -0.38
Debt-free, Cash-free Net Working Capital to Revenue		 0.75% 0.00% 8.08% 3.22% 0.00% 31.94% 103.47% 20.69% 0.00% -27.57% -8.90%
Debt-free Net Working Capital to Revenue		 274.04% 0.00% 1,510.13% 939.74% 0.00% 105.80% 283.67% 144.81% 0.00% 2,566.16% 2,439.66%
Net Working Capital to Revenue		 274.04% 0.00% 1,510.13% 939.74% 0.00% 105.80% 283.67% 144.81% 0.00% 2,566.16% 2,439.66%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.48 $0.08 $0.21 ($0.03) $0.67 $0.33 $0.38 $0.39 $0.36 $0.37 $0.27
Adjusted Weighted Average Basic Shares Outstanding		 6.21M 6.21M 6.21M 6.21M 10.34M 22.82M 22.82M 22.82M 22.82M 22.82M 22.82M
Adjusted Diluted Earnings per Share		 $1.48 $0.08 $0.21 ($0.03) $0.67 $0.33 $0.38 $0.39 $0.36 $0.37 $0.27
Adjusted Weighted Average Diluted Shares Outstanding		 6.21M 6.21M 6.21M 6.21M 10.34M 22.82M 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 22.82M 22.82M 22.82M 22.82M 22.82M 22.82M 22.82M 22.82M
Normalized Net Operating Profit after Tax (NOPAT)		 7.38 -2.37 1.50 -0.13 -2.90 -2.49 5.80 -2.89 -7.93 7.72 -3.19
Normalized NOPAT Margin		 55.90% -7,018.26% 48.63% -26.05% 0.00% 0.00% 44.31% -232.06% 0.00% 46.24% 0.00%
Pre Tax Income Margin		 93.26% -23,076.57% 49.51% 2.97% 0.00% 0.00% 58.60% 763.00% 0.00% 59.64% 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 -23.98 26.44 -11.81 -24.49 10.72 -4.63
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 -26.15 26.44 -12.49 -24.49 10.72 -4.63
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 -23.98 26.44 -11.81 -24.49 10.72 -4.63
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 -26.15 26.44 -12.49 -24.49 10.72 -4.63
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 97.74% -88.26% -97.07% -86.33% -95.19% 43.58% -316.31% 570.49% 69.94% 87.11% 87.14%
Augmented Payout Ratio		 97.74% -88.27% -97.80% -87.66% -97.29% 48.65% -338.32% 600.56% 73.22% 87.39% 87.78%

Financials Breakdown Chart

Key Financial Trends

Chicago Atlantic BDC’s latest statements show a much larger balance sheet than in 2023–2024, but quarterly earnings remain dependent on investment income and noncash valuation adjustments.

  • Net investment earnings remain meaningful. Q2 2026 interest and investment income totaled $13.3 million, producing $7.7 million of net income, or $0.27 per diluted share. Net income was also positive in each reported quarter from Q2 2025 through Q2 2026.
  • The investment base has expanded substantially. Short-term investments were $337.7 million at June 30, 2026, compared with total assets of $90.1 million in Q2 2024. This reflects significant growth in the capital available to generate portfolio income.
  • Equity provides a substantial capital cushion. Total common equity was $302.5 million at the end of Q2 2026, representing the majority of the company’s reported capitalization. Equity has increased from approximately $84 million in mid-2024.
  • Q2 operating cash flow rebounded. Net cash from operating activities was $33.0 million in Q2 2026, compared with an outflow of $20.8 million in Q1. The improvement was driven primarily by $27.3 million of noncash adjustments, so investors should not treat the entire increase as recurring cash earnings.
  • Debt was reduced during the quarter. Chicago Atlantic repaid $29.0 million of debt in Q2 2026. Long-term debt declined from $54.5 million at March 31 to $27.0 million at June 30, reducing leverage and future interest obligations.
  • Dividend payments have been consistent but demanding. The company paid approximately $7.8 million of dividends in both Q1 and Q2 2026, broadly matching the recurring quarterly distribution pattern seen in 2024 and 2025. The payout supports income-oriented investors, but its sustainability depends on continued portfolio income and cash generation.
  • Liquidity is concentrated in investments rather than cash. Cash and equivalents fell to just $0.9 million from $3.3 million in Q1, while short-term investments remained high at $337.7 million. This structure may be appropriate for a BDC, but asset liquidity and portfolio valuations are important risks to monitor.
  • Quarterly earnings declined sequentially. Net income fell from $10.0 million in Q1 2026 to $7.7 million in Q2, while diluted EPS declined from $0.37 to $0.27. Q2 net income was roughly in line with the restated Q2 2025 result, indicating limited year-over-year earnings growth.
  • Core operating results remain weak. Reported operating revenue was negative $1.2 million in Q2 2026, and total operating income was a loss of $4.6 million. Interest and investment income more than offset the operating deficit, leaving results exposed to portfolio income, credit performance and valuation changes.
  • Cash balances have generally trended lower as distributions and financing activity consume liquidity. Q2 2026 cash flow was reduced by $7.8 million of dividends, $29.0 million of debt repayments and a $2.4 million overall decline in cash. Historical quarters also frequently showed negative operating cash flow, making the large noncash adjustments in recent periods a key area for investors to examine.
10/15/26 03:15 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 fiscal year ends in December. Their fiscal 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, compared with -$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 4 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%.

In the past 11 quarters, Silver Spike Investment's cash and equivalents has ranged from $925.53 thousand in Q2 2026 to $34.00 million in Q2 2024, and is currently $925.53 thousand as of their latest financial filing in Q2 2026.

Silver Spike Investment had total debt of $25 million at the end of 2025, compared with none in 2024, and none in 2021.

Over the last 4 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 8/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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A small Colorado company has secured rights to technology that could prevent the U.S. public power grid from c...
Altimetry | Sponsoredtc pixel
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
The end may be near for these iconic stocks
Marc Chaikin, founder of Chaikin Analytics, says two forces - AI disruption and fracturing global trade - are ...
Chaikin Analytics | Sponsoredtc pixel
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...
InvestorPlace | Sponsoredtc pixel
Here’s the stock symbol I’ve promised
Whitney Tilson of Stansberry Research has long recommended Berkshire Hathaway as a core retirement holding - b...
Stansberry Research | Sponsoredtc pixel
Here’s Why Trump Won’t End The Iran War
Trump has called an Iran deal close 38 times since the war began, yet the fighting keeps flaring back up. O...
Banyan Hill Publishing | Sponsoredtc pixel
100% overnight gains?
Rumors are circulating that Elon Musk is preparing to acquire three publicly traded companies. Dr. Mark Sko...
The Oxford Club | Sponsoredtc pixel