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Advanced Flower Capital Inc. (AFCG) Annual Reports

Q: Where can I read Advanced Flower Capital Inc. (AFCG) annual reports?

Every year on this page links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser. 3 filings are currently indexed.

Q: What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer; a 20-F is filed by foreign private issuers (Taiwanese companies with US ADRs, such as TSMC, file 20-F). A 40-F applies to Canadian issuers under the MJDS.

Advanced Flower Capital Inc. is listed on Nasdaq. This page indexes 3 annual reports, each linking to the full text on the SEC's EDGAR system.

Company profile

Exchange： Nasdaq
Fiscal year end： 12/31
SEC CIK： 1822523 →

Website：Official site ↗

Financial Highlights

FY2026 Q2 (quarterly, ended 2026-06-30)
	Current	Prior year	YoY
Net income	$5.4M	$-13.2M	+140.7%
EPS (diluted)	$0.23	$-0.60	+138.3%

Source: SEC EDGAR (XBRL company facts)

Financial history

Revenue & profit

Quarterly · In mn (USD)

Revenue 5.19 mn Net income 5.36 mn

Show table：Income statement

Item	2021Q1	2021Q1	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Revenue	1.59	—	4.69	8.75	10.6	—	16.9	19.9	18.1	19.7	16.8	16.1	15.3	16.0	14.8	18.4	8.88	7.64	6.64	6.20	6.53	5.19	—	—
Net income	2.11	2.21	1.40	4.63	7.93	7.04	10.2	11.3	11.5	2.94	10.0	12.1	7.98	-9.19	-0.05	16.4	1.38	-0.99	4.07	-13.2	-12.5	0.91	11.4	5.36

Balance sheet

Quarterly · In mn (USD)

Total assets 400 mn Total liabilities 212 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2021Q1	2021Q1	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Total assets	—	94.0	222	279	304	465	454	459	471	519	448	454	445	467	476	458	367	402	322	291	289	276	395	400
Total liabilities	—	2.31	5.17	10.1	29.5	192	118	121	124	180	110	114	106	147	166	144	161	201	121	106	119	100	209	212
Equity	80.9	91.7	216	268	274	273	337	338	347	339	338	340	339	320	311	314	206	201	201	185	169	176	186	187

Cash flow

Quarterly · In mn (USD)

Operating -6.20 mn Investing 11.1 mn Financing -0.02 mn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2021Q1	2021Q1	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Operating	-0.06	1.58	2.37	5.13	0.11	1.93	4.67	10.6	12.2	3.87	4.38	5.15	5.46	6.24	6.37	10.3	2.64	2.22	3.92	1.76	6.11	-0.56	-30.8	-6.20
Investing	-0.64	-31.8	-6.89	-54.8	-59.8	-127	-30.1	-19.1	-19.4	52.2	15.0	8.03	-4.52	10.0	-53.9	113	-6.99	-56.9	-19.1	15.5	27.4	11.1	—	—
Financing	31.9	8.59	122	47.5	5.04	164	-20.3	-9.52	-2.10	48.0	-79.1	-11.7	-9.82	32.2	8.18	-35.3	-43.8	36.2	-85.1	-17.2	8.20	-17.0	105	-0.02
Cash at period end	31.3	9.62	127	125	70.0	109	63.6	45.6	36.3	140	80.6	82.1	73.2	122	82.3	170	122	104	3.32	3.41	45.1	38.6	113	107

Profitability

Quarterly · %

Net margin 17.6%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2021Q1	2021Q1	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Net margin	132.1%	—	29.9%	52.9%	74.7%	—	60.0%	57.0%	63.3%	14.9%	59.6%	75.4%	52.3%	-57.5%	-0.4%	89.5%	15.6%	-13.0%	61.2%	-212.2%	-191.3%	17.6%	—	—

Returns & leverage

Quarterly · %

ROE 2.8% ROA 1.5% Debt ratio 53.1%

ROE / ROA = trailing four-quarter net income ÷ average equity / total assets (annual mode: the year’s net income ÷ average of opening and closing). Not computed when the denominator is zero or negative.

Show table：Returns & leverage

Item	2021Q1	2021Q1	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
ROE	—	—	—	3.9%	9.1%	11.5%	10.8%	12.0%	12.9%	11.7%	10.6%	10.8%	9.6%	6.4%	3.4%	4.6%	3.1%	6.4%	8.2%	-3.5%	-12.0%	-11.0%	-6.9%	2.8%
ROA	—	—	—	3.7%	5.3%	7.5%	8.8%	9.9%	10.3%	7.3%	7.9%	8.0%	7.2%	4.3%	2.4%	3.3%	2.1%	3.9%	5.2%	-2.3%	-6.9%	-6.1%	-3.7%	1.5%
Debt ratio	—	2.5%	2.3%	3.6%	9.7%	41.3%	25.9%	26.4%	26.3%	34.7%	24.6%	25.0%	23.9%	31.4%	34.8%	31.4%	43.8%	49.9%	37.6%	36.4%	41.4%	36.3%	52.9%	53.1%

EPS

Quarterly · US$

EPS US$0.23

Show table：EPS

Item	2021Q1	2021Q1	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
EPS（US$）	0.39	0.37	0.19	0.34	0.47	0.42	0.52	0.57	0.57	0.12	0.49	0.59	0.39	-0.45	-0.01	0.80	0.06	-0.07	0.18	-0.60	-0.57	0.04	0.49	0.23

Revenue & profit

Year-to-date · In mn (USD)

Revenue 24.6 mn Net income 16.8 mn

Year-to-date = summed from the first quarter of the fiscal year; balance-sheet items are period-end balances.

Balance sheet

Year-to-date · In mn (USD)

Total assets 400 mn Total liabilities 212 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Cash flow

Year-to-date · In mn (USD)

Operating -37.0 mn Investing 34.9 mn Financing 105 mn

Positive = cash in, negative = cash out.

Profitability

Year-to-date · %

Net margin -84.2%

Gross, operating and net margin = the respective profit ÷ revenue.

Returns & leverage

Year-to-date · %

ROE 2.8% ROA 1.5% Debt ratio 53.1%

EPS

Year-to-date · US$

EPS US$0.72

Revenue & profit

Annual · In mn (USD)

Revenue 24.6 mn Net income -20.7 mn

Annual = sum of four quarters of a complete fiscal year (incomplete years are omitted); balance-sheet items are year-end balances.

Show table：Income statement

Item	2021	2022	2023	2024	2025
Revenue	—	74.7	64.2	49.7	24.6
Net income	25.3	35.9	20.9	16.8	-20.7

Balance sheet

Annual · In mn (USD)

Total assets 276 mn Total liabilities 100 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2021	2022	2023	2024	2025
Total assets	465	519	467	402	276
Total liabilities	192	180	147	201	100
Equity	273	339	320	201	176

Cash flow

Annual · In mn (USD)

Operating 11.2 mn Investing 34.9 mn Financing -111 mn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2021	2022	2023	2024	2025
Operating	11.1	31.3	21.2	21.6	11.2
Investing	-281	-16.3	28.5	-4.85	34.9
Financing	379	16.1	-68.5	-34.7	-111
Cash at period end	109	140	122	104	38.6

Profitability

Annual · %

Net margin -84.2%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2021	2022	2023	2024	2025
Net margin	—	48.1%	32.6%	33.8%	-84.2%

Returns & leverage

Annual · %

ROE -11.0% ROA -6.1% Debt ratio 36.3%

Show table：Returns & leverage

Item	2021	2022	2023	2024	2025
ROE	9.3%	11.7%	6.4%	6.4%	-11.0%
ROA	5.5%	7.3%	4.3%	3.9%	-6.1%
Debt ratio	41.3%	34.7%	31.4%	49.9%	36.3%

EPS

Annual · US$

EPS US$-0.95

Show table：EPS

Item	2021	2022	2023	2024	2025
EPS（US$）	2.18	1.78	1.02	0.78	-0.95

Source: SEC EDGAR (XBRL company facts)

Annual reports by year

	10-K
2025	Open full text →
2024	Open full text →
2023	Open full text →

10-K: annual report of a US domestic issuer. Filings are the original documents hosted on SEC EDGAR — this site neither mirrors nor edits them.

FAQ

Where can I read Advanced Flower Capital Inc. (AFCG) annual reports?

Every year in the table above links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser without downloading anything. 3 filings are currently indexed.

What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer, with sections fixed by law: Item 1 Business, Item 1A Risk Factors, Item 7 Management's Discussion and Analysis. A 20-F is filed by foreign private issuers — Taiwanese companies with US ADRs, such as TSMC, file 20-F rather than 10-K. A 40-F applies to Canadian issuers under the MJDS.

Are earnings call materials available here?

No. Earnings calls are not SEC filings, so US pages on this site cover annual reports only. Taiwan has a mandatory investor-conference disclosure regime, and those materials are indexed under Annual Reports.

Source: US Securities and Exchange Commission (SEC) EDGAR. This site indexes public filings and links to them; it hosts no copies, offers no investment advice, and makes no warranty as to timeliness or completeness.
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