--- title: "SHF HOLDINGS INC C/WTS 28/09/27 (TO PUR COM) | 10-Q: FY2026 Q1 Revenue: USD 1.975 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/286608256.md" datetime: "2026-05-15T20:13:50.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286608256.md) - [en](https://longbridge.com/en/news/286608256.md) - [zh-HK](https://longbridge.com/zh-HK/news/286608256.md) generator: "portal-rs" --- # SHF HOLDINGS INC C/WTS 28/09/27 (TO PUR COM) | 10-Q: FY2026 Q1 Revenue: USD 1.975 M Revenue: As of FY2026 Q1, the actual value is USD 1.975 M. EPS: As of FY2026 Q1, the actual value is USD -0.43. EBIT: As of FY2026 Q1, the actual value is USD -1.759 M. SHF Holdings, Inc. operates as a single reportable segment, focusing on financial services and banking solutions for cannabis-related businesses . #### Revenue Total revenue for the three months ended March 31, 2026, increased by 2.2% to $1,975,439 from $1,932,352 in the same period of 2025 . **Account Fee Income**: Decreased by -19.0% to $868,629 in 2026 from $1,072,465 in 2025, primarily due to a renegotiated revenue-sharing arrangement and client attrition . **Loan Program Income**: Increased by 55.6% to $840,672 in 2026 from $540,222 in 2025, largely due to an increased share of loan program income under the Second Amended Commercial Alliance Agreement (CAA) . The loan portfolio decreased to $51.5 million in 2026 from $56.8 million in 2025 . **Investment Income**: Decreased by -17.8% to $246,908 in 2026 from $300,435 in 2025, despite an increase in the net average daily investable deposit base to $45.0 million from $34.5 million, due to a decline in the Interest on Reserve Balances (IORB) rate . **Safe Harbor Program Income**: Remained constant at $19,230 for both periods . #### Operating Expenses Total operating expenses decreased by -4.7% to $3,738,795 for the three months ended March 31, 2026, compared to $3,923,847 in 2025 . **Compensation and Employee Benefits**: Increased by 21.0% to $1,660,658 in 2026 from $1,372,481 in 2025, driven by higher bonus accruals, increased employee salaries (including costs from the 420 IT Solutions acquisition), and hiring for strategic initiatives . **General and Administrative Expenses**: Increased by 7.8% to $1,068,400 in 2026 from $990,826 in 2025, primarily due to marketing activities, partially offset by lower asset hosting fees . **Professional Services**: Decreased by -23.6% to $1,145,809 in 2026 from $1,499,534 in 2025, mainly due to reduced stock awards to directors, partially offset by increased cash bonuses and legal fees . **Rent Expense**: Decreased by -15.7% to $51,432 in 2026 from $61,006 in 2025, due to the closure of the Arkansas office . **Amortization of Contract Asset**: Was $129,072 in 2026, compared to $0 in 2025, reflecting the amortization of costs capitalized under the Second Amended CAA . **Credit Benefit**: A benefit of - $316,576 was recognized in 2026, compared to $0 in 2025, resulting from the amortization of the ASC 460 stand-ready guarantee liability and a downward remeasurement of the ASC 326 expected credit loss liability . #### Operating and Net Loss Operating loss for the three months ended March 31, 2026, was - $1,763,356, an improvement from - $1,991,495 in 2025 . Net loss was - $1,779,217 in 2026, compared to - $827,199 in 2025 . #### Other Income (Expenses) Total other income (expenses) was - $15,861 in 2026, a significant decline from $1,164,296 in 2025, primarily due to a - $1,099,483 decrease in the change in fair value of warrant liabilities . #### EBITDA and Adjusted EBITDA EBITDA was - $1,592,815 in 2026, compared to - $712,972 in 2025 . Adjusted EBITDA was - $1,839,202 in 2026, compared to - $1,227,243 in 2025, reflecting a $0.6 million decrease driven by higher operating expenses and reduced stock options grants . #### Operational Metrics - **Average Deposit Balance**: Increased by 8.6% to $105,360,624 in 2026 from $97,023,799 in 2025 . - **Trailing 14-day Average Account Balance**: Decreased by -2.9% to $104,605,687 in 2026 from $107,781,165 in 2025 . - **Average Active Accounts**: Decreased by -2.4% to 763 in 2026 from 782 in 2025 . - **Average Account Balance**: Increased by 11.2% to $138,027 in 2026 from $124,071 in 2025 . - **Average Fees per Account**: Decreased by -16.1% to $947 in 2026 from $1,129 in 2025 . #### Cash Flows (Three Months Ended March 31) - **Net Cash Used in Operating Activities**: - $1,078,657 in 2026, an improvement from - $1,140,730 in 2025 . - **Net Cash Provided by Investing Activities**: $25,017 in 2026, compared to $3,245 in 2025 . - **Net Cash Provided by (Used in) Financing Activities**: $172,070 in 2026, primarily from ELOC proceeds, compared to - $255,765 in 2025 . - **Net Decrease in Cash and Cash Equivalents**: - $881,570 in 2026, compared to - $1,393,250 in 2025 . - **Cash and Cash Equivalents – End of Period**: $5,897,470 in 2026, compared to $931,397 in 2025 . #### Outlook and Strategy Management’s strategy for the remainder of 2026 focuses on improving client retention through expanded lending, enhanced client service technology, and new marketing initiatives . The company is implementing measures to preserve liquidity, including an increased loan program income share, access to a $150.0 million Equity Line of Credit (ELOC), identified cost-reduction measures, and bi-weekly cash flow monitoring . However, the company continues to incur operating losses and negative cash flows, raising substantial doubt about its ability to continue as a going concern, while also monitoring federal regulatory developments regarding cannabis rescheduling . ### Related Stocks - [SHFSW.US](https://longbridge.com/en/quote/SHFSW.US.md) ## Related News & Research - [Pininfarina announces availability of H1 2026 interim financial report](https://longbridge.com/en/news/298044460.md) - [Gaming and Leisure Properties declares Q3 2026 dividend of $0.82 per share](https://longbridge.com/en/news/297652371.md) - [Alexandria Real Estate Equities declares Q3 2026 dividend of R$ 0.63 per unit](https://longbridge.com/en/news/297928934.md) - [Quanta Services announces dividend of R$ 0.03 per unit for Q3 2026](https://longbridge.com/en/news/297931955.md) - [Marisa updates financial events calendar for 2026](https://longbridge.com/en/news/297913424.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**