Reported Q: Q1 2024 Rev YoY: +21.6% EPS YoY: -21.3% Move: +0.47%
Sachem Capital Corp 800
SCCG
$23.60 0.47%
Exchange AMEX Sector Real Estate Industry REIT Mortgage
Q1 2024
Published: May 10, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for SCCG

Reported

Report Date

May 10, 2024

Quarter Q1 2024

Revenue

17.02M

YoY: +21.6%

EPS

0.08

YoY: -21.3%

Market Move

+0.47%

Previous quarter: N/A

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Earnings Highlights

  • Revenue of $17.02M up 21.6% year-over-year
  • EPS of $0.08 decreased by 21.3% from previous year
  • Gross margin of 99.4%
  • Net income of 4.67M
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SCCG
Company SCCG

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Executive Summary

Sachem Capital Corp 800 Note (SCCG) delivered a solid QQ1 2024 despite an unusual balance sheet presentation in the dataset. Revenue of $17.02 million rose 21.6% year-over-year and 3.54% quarter-over-quarter, supported by a high gross margin and strong operating discipline. Gross profit reached $16.92 million with a gross margin of 99.45%, while operating income was $13.46 million, yielding an operating margin of 79.12%. Net income was $4.67 million, translating to a net margin of 27.45% and EPS of $0.0771. YoY, revenue and gross profit grew meaningfully (YoY gross profit +21.29%, revenue +21.62%), but net income declined by 8.79% due to the composition of non-operating items and the tax line in the period. QoQ improvements in earnings per share (EPS up 425.32%) reflect seasonal dynamics and base effects as the company progresses through the fiscal year.

The quarter also evidenced positive cash generation: net cash provided by operating activities was $4.22 million, with free cash flow at $3.45 million and cash on hand of $18.41 million. The cash flow profile supports a sustainable quarterly dividend cadence, though the reported dividend payout ratio (~132%) suggests the distribution is financed from non-operating sources or reserves, warranting closer scrutiny of ongoing sustainability.

From a balance sheet perspective, reported assets and liabilities imply a levered but manageable capital structure, with total debt around the reported level and net debt indicative of material debt load versus cash generation. While the data set contains some apparent inconsistencies (notably on G&A and some balance-sheet line items), the core operating metrics point to a resilient business model for Sachem Capitalโ€™s specialized mortgage REIT segment, characterized by secured short-term lending and a steady origination pipeline. Investors should monitor loan book growth, asset quality, funding mix, and dividend sustainability as primary risk levers going forward.

Key Performance Indicators

Revenue
Increasing
17.02M
QoQ: 3.54% | YoY: 21.62%
Gross Profit
Increasing
16.92M
99.45% margin
QoQ: 3.58% | YoY: 21.29%
Operating Income
Increasing
13.46M
QoQ: 11.35% | YoY: 12.69%
Net Income
Decreasing
4.67M
QoQ: 521.01% | YoY: -8.79%
EPS
Decreasing
0.08
QoQ: 425.32% | YoY: -21.33%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 11.44 0.00 -32.8% View
Q4 2024 10.55 0.10 -35.8% View
Q3 2024 14.79 -0.14 -16.8% View
Q2 2024 15.15 -0.06 -8.6% View
Q1 2024 17.02 0.08 +21.6% View