Chicago Atlantic Real Estate Finance REFI
NASDAQ REFI
$10.83 -0.12 (-1.10%)
As of: Sep 8, 2026 · 3:59 PM EDT

Chicago Atlantic Real Estate Finance (REFI) Operating Expenses (2022 - 2026)

Chicago Atlantic Real Estate Finance's (REFI) quarterly Operating Expenses came in at $5.1 million in Q2 2026, down 10.07% year-over-year from $5.7 million in Q2 2025, and down 36.4% quarter-over-quarter from $8.1 million in Q1 2026.

Analysis

Chicago Atlantic Real Estate Finance (REFI) Operating Expenses (2022 - 2026) Analysis & Trends

Chicago Atlantic Real Estate Finance has disclosed Operating Expenses across 5 years of filings, most recently posting $5.1 million for Q2 2026.

  • In Q2 2026, Operating Expenses fell 10.07% year-over-year to $5.1 million; the TTM figure through Jun 2026 stood at $24.0 million (up 34.0% YoY), while the FY2025 annual figure was $19.5 million, up 10.19% from the prior year.
  • Operating Expenses came in at $5.1 million for Q2 2026 at Chicago Atlantic Real Estate Finance, down from $8.1 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $8.1 million in Q1 2026 to a low of $2.0 million in Q1 2022.
  • Average Operating Expenses over 5 years is $4.8 million, with a median of $4.6 million recorded in 2024.
  • Year-over-year, Operating Expenses sank 33.41% in 2025 and soared 169.2% in 2026.
  • Over 5 years, Operating Expenses stood at $7.5 million in 2022, then dropped by 26.61% to $5.5 million in 2023, then grew by 8.6% to $6.0 million in 2024, then climbed by 1.63% to $6.1 million in 2025, then retreated by 15.52% to $5.1 million in 2026.
  • Per Business Quant data, the three most recent Operating Expenses figures were $5.1 million in Q2 2026, $8.1 million in Q1 2026, and $6.1 million in Q4 2025.
Peer Set

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Annaly Capital Management 16.87 Bn 13.96 Bn - 71.74 Mn
2 AGNC Investment 12.43 Bn 11.10 Bn - 30.00 Mn
3 Starwood Property Trust 5.84 Bn 3.67 Bn - 524.77 Mn
4 Rithm Capital 5.57 Bn 5.57 Bn - 1.28 Bn
5 Dynex Capital 2.88 Bn 2.27 Bn - 16.21 Mn
6 Two Harbors Investment 2.65 Bn 2.01 Bn - 51.40 Mn
7 Blackstone Mortgage Trust 2.35 Bn 1.91 Bn - 111.00 Mn
8 Armour Residential REIT 2.11 Bn 2.02 Bn - 17.16 Mn
9 Ellington Financial 1.71 Bn 1.46 Bn - 76.02 Mn
10 Chicago Atlantic Real Estate Finance 230.27 Mn 216.02 Mn - 5.14 Mn
Historic Data

Historic Data

Download Data
DateValue
Jun 30, 2026 5.14 Mn
Mar 31, 2026 8.08 Mn
Dec 31, 2025 6.08 Mn
Sep 30, 2025 4.75 Mn
Jun 30, 2025 5.71 Mn
Mar 31, 2025 3.00 Mn
Dec 31, 2024 5.98 Mn
Sep 30, 2024 3.25 Mn
Jun 30, 2024 4.00 Mn
Mar 31, 2024 4.51 Mn
Dec 31, 2023 5.51 Mn
Sep 30, 2023 3.84 Mn
Jun 30, 2023 5.02 Mn
Mar 31, 2023 4.22 Mn
Dec 31, 2022 7.51 Mn
Sep 30, 2022 3.16 Mn
Jun 30, 2022 3.94 Mn
Mar 31, 2022 1.96 Mn