GlobeNewswire·Nov 9, 2026, 6:05 AM ET

Safe Harbor Financial Reports Third Quarter 2026 Financial Results

SHFS

SHF Holdings, Inc. (Safe Harbor) reported Q3 2026 revenue of $1.95 million, a 6.5% increase from the prior-year period, driven by a 70.2% growth in loan program income.
Loan program income rose to approximately $869,000 due to an amended agreement with Partner Colorado Credit Union that increased revenue sharing from 35% to up to 65%.
Average client deposit balances increased 3.8% year over year to $112 million, while the quarter-end trailing 14-day average deposits reached $119.3 million, a 7.4% increase.
Operating loss narrowed 17.7% year over year to approximately $1 million, reflecting higher revenue, lower compensation expenses, and a $353,000 credit benefit for estimated credit losses.
Total operating expenses decreased 3.2% to $2.95 million, although professional services expenses increased 63.3% to $722,000.
Net loss for the quarter was approximately $979,000, or $0.95 per share, compared to a net income of $180,000 in the prior-year period.
Cash and cash equivalents totaled $4.4 million as of September 30, 2026, down from $6.78 million at the end of 2025.
Safe Harbor entered a nonbinding term sheet on October 23, 2026, for a proposed business combination with Opifex Media Inc. to create a diversified public holding company.
Under the proposed transaction, Opifex security holders would own approximately 85% of the combined company, while existing Safe Harbor stakeholders would collectively own approximately 15%.
Nasdaq granted Safe Harbor an additional 180-day period through April 19, 2027, to regain compliance with the $1 minimum bid price requirement.
The company's financial statements include a going concern disclosure due to recurring operating losses, negative cash flows, and uncertainties regarding its capital structure.
Safe Harbor Institutional was recognized as the Top Business Solutions Company at the 2026 PBC Cannabis Banking Conference and joined the American Bankers Association Partner Network.

Company: Safe Harbor Financial Services, Inc.
Keywords: Nasdaq:SHFS, Safe Harbor Financial Services, Inc., cannabis, content creators, financial services