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AFC Gamma, Inc.(AFCG), a prominent player in t he financial industry, has released its unaudited consolidated financial statements for the second quarter and first half of 2023. The financial data reveals notable figures in terms of net income and revenue, showcasing the company's performance during the specified periods.
Net Income: AFC Gamma's Strong Performance Continues
AFC Gamma, Inc. has maintained a robust financial performance, reporting a net income of $22.16 million for the first half of 2023. This figure reflects the company's ability to effectively manage its assets and liabilities, demonstrating its commitment to providing value to its shareholders.
The company's revenue for the first six months of 2023 has amounted to an impressive $36.18 million. AFC Gamma's strategic approach to its lending activities and investment decisions has contributed to this substantial revenue figure. Despite the evolving economic landscape, AFC Gamma remains focused on generating sustainable revenue streams.
The consolidated balance sheets as of June 30, 2023, and December 31, 2022, highlight the company's assets and liabilities. The company's loans held for investment, cash and cash equivalents, and interest receivables have played a significant role in shaping its financial position.
Shareholders' equity has also seen positive developments, with a total of $340.32 million as of June 30, 2023. This indicates the confidence of investors in AFC Gamma's operations and potential for growth.
Consolidated Statements of Operations
The unaudited consolidated statements of operations provide insight into the company's revenue and expenses. Interest income of $17.68 million for the three months ended June 30, 2023, reflects AFC Gamma's lending activities. Net interest income and effective expense management have contributed to the company's net income of $12.14 million for the same period.
AFC Gamma, Inc.'s unaudited financial data for the second quarter and first half of 2023 underscores its commitment to sustainable growth and responsible financial management. With a net income of $22.16 million and revenue of $36.18 million, the company continues to navigate the financial landscape with resilience and strategic acumen.