Advanced Flower Capital (AFCG) Q2 FY26 earnings call

Advanced Flower Capital navigated a challenging private credit environment in Q2 FY26 by focusing on strategic capital deployment into the lower middle market, which it views as offering compelling risk-adjusted returns. The company demonstrated strong financial health with increased NAV per share, significant share repurchases, and robust liquidity, while actively managing its legacy non-accrual cannabis portfolio through liquidation and foreclosure processes. Management emphasized a disciplined underwriting approach and the ability to leverage co-investment opportunities for larger deals, po