Chicago Atlantic BDC, Inc. (LIEN) Income Statement
LIEN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsLIEN revenue and net income
Where LIEN's revenue goes
2025Each bar shows an amount and its share of revenue. LIEN kept 61.3% of revenue as net income.
LIEN profit margins
LIEN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +202.2% | +137.6% | — | — |
| Gross profit | +133.4% | +118.0% | — | — |
| Operating income | +258.8% | +155.8% | — | — |
| Net income | +245.8% | +169.1% | — | — |
| EPS (diluted) | +158.9% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
LIEN quarterly EPS vs estimates
Chicago Atlantic BDC beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 12, 2026 (estimate $0.40).
LIEN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Revenue | $54.3M | $18.0M | $10.0M | $4.0M | $10,073 | $0 |
| Cost of revenue | $12.3M | $4.3M | $0 | $0 | $0 | — |
| Gross profit | $42.0M | $18.0M | $10.0M | $4.0M | $10,073 | — |
| Sales, general & admin | $6.11B | $8.2M | $2.7M | $2.0M | $245,436 | $958,290 |
| Total operating expenses | $7.4M | $8.3M | $2.7M | $2.0M | $573,438 | $958,290 |
| Operating income | $34.5M | $9.6M | $7.3M | $2.1M | −$563,365 | −$958,290 |
| Interest income | $49.3M | $19.9M | $11.7M | — | $10,073 | — |
| Interest expense | $1.2M | $0 | $0 | — | — | — |
| Income before taxes | $33.3M | $9.6M | $7.3M | $1.7M | −$563,365 | −$958,290 |
| Net income | $33.3M | $9.6M | $7.3M | $1.7M | −$563,365 | −$958,290 |
| EBITDA | $34.5M | $9.6M | $7.3M | $2.0M | −$563,365 | — |
| EPS (diluted) | $1.45 | $0.56 | $1.07 | −$0.29 | −$0.02 | — |
| Gross margin | 77.3% | 100.0% | 100.0% | 100.0% | 100.0% | — |
| Operating margin | 63.6% | 53.5% | 73.2% | 51.0% | −5,592.8% | — |
| Net margin | 61.3% | 53.5% | 73.2% | 42.2% | −5,592.8% | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.0M | $16.7M | $10.7M | $10.8M | $10.5M | $8.7M | $9.9M | $2.8M | $2.3M | $3.0M | $3.6M | $1.9M |
| Cost of revenue | $3.6M | $4.1M | $144,712 | $35,084 | $301,260 | $145,381 | $363,910 | $363,910 | $0 | $0 | $0 | $0 |
| Gross profit | $10.4M | $12.6M | $10.5M | $10.8M | $10.2M | $8.6M | $9.9M | $2.8M | $2.3M | $3.0M | $3.6M | $1.9M |
| Sales, general & admin | $1.47B | $1.5M | $1.9M | $1.9M | $2.4M | $1.9M | $1.8M | $2.9M | $1.0M | $2.5M | $1.1M | $635,177 |
| Total operating expenses | $3.3M | $3.0M | $2.3M | $1.9M | $1.6M | $958,861 | $1.9M | $2.9M | $1.0M | $2.5M | $1.1M | $635,177 |
| Operating income | $7.1M | $9.6M | $8.2M | $8.8M | $8.6M | $7.6M | $8.0M | −$165,012 | $1.3M | $519,811 | $2.5M | $1.3M |
| Interest income | $13.3M | $14.6M | $12.3M | $13.8M | $11.9M | $11.3M | $11.7M | $2.7M | $2.8M | $2.7M | $3.6M | $2.9M |
| Interest expense | $1.0M | $1.0M | $144,712 | $35,084 | $301,260 | $145,381 | — | $0 | $0 | — | — | — |
| Income before taxes | $6.1M | $8.5M | $8.2M | $8.8M | $8.6M | $7.6M | $8.0M | −$165,012 | $1.3M | $519,811 | $2.5M | $1.3M |
| Income taxes | — | — | — | — | — | — | — | $31,314 | — | — | — | — |
| Net income | $6.1M | $8.5M | $8.2M | $8.8M | $8.6M | $7.6M | $8.0M | −$165,012 | $1.3M | $519,811 | $2.5M | $1.3M |
| EBITDA | $7.2M | $9.6M | $757.1M | $8.8M | $8.6M | $7.6M | $8.0M | −$165,012 | $1.3M | $519,811 | $2.5M | $1.3M |
| EPS (diluted) | $0.34 | $0.44 | $0.36 | $0.42 | $0.34 | $0.33 | $0.35 | −$0.03 | $0.25 | −$0.01 | $0.28 | $0.26 |
| Gross margin | 74.3% | 75.3% | 98.6% | 99.7% | 97.1% | 98.3% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | 50.6% | 57.2% | 77.1% | 81.8% | 81.7% | 87.3% | 80.7% | −5.9% | 55.7% | 17.4% | 69.0% | 66.7% |
| Net margin | 43.4% | 51.1% | 77.1% | 81.8% | 81.7% | 87.3% | 80.7% | −5.9% | 55.7% | 17.4% | 69.0% | 66.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in LIEN's financial statements (latest annual report filed March 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
LIEN financial results
In fiscal year 2025 (ended December 31, 2025), Chicago Atlantic BDC reported revenue of $54.3 million, up 202.2% from the year before. It had net income of $33.3 million (up 245.8%), a net profit margin of 61.3%. Diluted earnings per share came to $1.45.
See the LIEN stock overview for the latest quote and news, or the LIEN chart for price history and technical indicators.
LIEN income statement FAQ
What is Chicago Atlantic BDC's annual revenue?
Chicago Atlantic BDC reported total revenue of $54.3 million for fiscal year 2025, which ended on December 31, 2025. That was up 202.2% from $18.0 million the previous year.
Is Chicago Atlantic BDC profitable?
Yes. Chicago Atlantic BDC reported net income of $33.3 million in fiscal 2025, a net profit margin of 61.3%; its operating margin was 63.6%.
What is Chicago Atlantic BDC's gross margin?
Chicago Atlantic BDC's gross margin was 77.3% in fiscal 2025: for every $100 of revenue, Chicago Atlantic BDC kept $77 after the direct cost of its products and services.
What are Chicago Atlantic BDC's earnings per share?
Chicago Atlantic BDC earned $1.45 per diluted share in fiscal 2025, compared with $0.56 a year earlier.
When will Chicago Atlantic BDC report its next earnings?
Chicago Atlantic BDC is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 before the market opens.
When does Chicago Atlantic BDC's fiscal year end?
Chicago Atlantic BDC's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 19, 2026.