What drove LIEN's earnings surge in the past year?

**LIEN's earnings surge in the past year can be attributed to several key factors:**

1. **Portfolio Diversification and Growth**: LIEN's portfolio has diversified into the cannabis sector, which has proven to be a profitable niche market. This diversification has allowed LIEN to capitalize on the growth in the cannabis industry, contributing significantly to its revenue surge.
2. **Strategic Acquisitions**: The acquisition of a loan portfolio from Chicago Atlantic Loan Portfolio has significantly increased LIEN's net assets and investment portfolio. This strategic move has enhanced LIEN's financial position and operational capabilities, supporting its earnings growth.
3. **Revenue from Cannabis-Related Investments**: A significant portion of LIEN's portfolio is concentrated on cannabis businesses. The growth in the cannabis industry has directly contributed to LIEN's revenue increase, with total revenue cum Yoy growth of 245.17% reported for the year ending December 31, 2024.
4. **Financial Performance of Portfolio Companies**: LIEN's investment income has surged, achieving $12.7 million for the fourth quarter and $21.7 million for the full year. This financial performance underscores the company's ability to generate substantial returns from its diversified portfolio of senior secured investments.

In conclusion, LIEN's earnings surge is driven by its strategic portfolio diversification, particularly in the cannabis sector, strategic acquisitions, and the robust financial performance of its portfolio companies. These factors combined have contributed to LIEN's robust investment income and net asset growth.