Chicago Atlantic BDC (LIEN) Operating Expenses (2022 - 2025)
Chicago Atlantic BDC (LIEN) reported Operating Expenses of $8.0 million for Q4 2025, up 70.86% year-over-year from $4.7 million in Q4 2024, and up 42.63% quarter-over-quarter from $5.6 million in Q3 2025.
Chicago Atlantic BDC (LIEN) Operating Expenses (2022 - 2025) Analysis & Trends
Chicago Atlantic BDC (LIEN) has 4 years of Operating Expenses data on file, last reported at $8.0 million in Q4 2025.
- Operating Expenses for Q4 2025 came in at $8.0 million, up 70.86% year-over-year; the trailing twelve-month figure through Dec 2025 was $24.0 million (up 96.64% YoY), and the FY2025 annual result was $23.2 million, up 90.16% from the prior year.
- Operating Expenses grew to $8.0 million in Q4 2025 per LIEN's latest filing, from $5.6 million in the prior quarter.
- Over five years, Operating Expenses peaked at $8.0 million in Q4 2025 and troughed at $225604.0 in Q1 2022.
- A 4-year average of $3.0 million and a median of $2.4 million in 2023 frame the typical range for Operating Expenses.
- On a YoY basis, Operating Expenses climbed as much as 299.0% in 2025 and fell as far as 50.51% in 2025.
- A 4-year view of Operating Expenses shows it stood at $630102.0 in 2022, then soared by 205.14% to $1.9 million in 2023, then surged by 142.24% to $4.7 million in 2024, then surged by 70.86% to $8.0 million in 2025.
- Business Quant data shows LIEN's Operating Expenses at $8.0 million in Q4 2025, $5.6 million in Q3 2025, and $6.2 million in Q2 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 163.18 Bn | 153.56 Bn | - | 3.88 Bn |
| 2 | Blackstone | 96.85 Bn | 95.80 Bn | - | 2.26 Bn |
| 3 | Kkr | 86.45 Bn | 133.96 Bn | - | 3.87 Bn |
| 4 | Apollo Global Management | 82.30 Bn | 101.04 Bn | 5.04 Bn | 4.68 Bn |
| 5 | State Street | 46.95 Bn | 21.27 Bn | - | 2.81 Bn |
| 6 | Ameriprise Financial | 43.65 Bn | 43.52 Bn | 4.57 Bn | 3.67 Bn |
| 7 | Northern Trust | 31.92 Bn | 31.92 Bn | - | 1.51 Bn |
| 8 | Raymond James Financial | 30.62 Bn | 19.37 Bn | - | 3.12 Bn |
| 9 | Ares Management | 29.04 Bn | 32.41 Bn | - | 1.17 Bn |
| 10 | Chicago Atlantic BDC | 230.94 Mn | 228.04 Mn | 14.07 Mn | 7.96 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 7.96 Mn |
| Sep 30, 2025 | 5.58 Mn |
| Jun 30, 2025 | 6.21 Mn |
| Mar 31, 2025 | 4.27 Mn |
| Dec 31, 2024 | 4.66 Mn |
| Sep 30, 2024 | 3.16 Mn |
| Jun 30, 2024 | 1.56 Mn |
| Mar 31, 2024 | 2.84 Mn |
| Dec 31, 2023 | 1.92 Mn |
| Sep 30, 2023 | 1.30 Mn |
| Jun 30, 2023 | 994,287.00 |
| Sep 30, 2022 | 630,102.00 |
| Jun 30, 2022 | 588,346.00 |
| Mar 31, 2022 | 225,604.00 |