Safe Harbor Financial reports Q1 2026 revenue $2.0M, loan income up 55.6%

Safe Harbor Financial reported first-quarter 2026 revenue of $1.98 million, up 2.2% year-over-year, driven by a 55.6% increase in loan program income to approximately $0.8 million. The company recorded an operating loss of $1.76 million and a net loss of $1.78 million for the quarter, while cash and cash equivalents totaled $5.9 million and stockholders’ equity was $6.7 million as of March 31, 2026. Management highlighted balance sheet improvement, expanded product offerings and regulatory developments that could broaden the addressable market.Financial HighlightsTotal revenue: $1,975,439 for the three months ended March 31, 2026, compared with $1,932,352 for the same period in 2025.Loan program income: approximately $0.8 million for Q1 2026, an increase of 55.6% year over year (from approximately $0.5 million).Total operating expenses: $3,738,795 for Q1 2026, down 4.7% from $3,923,847 in Q1 2025.Operating loss: $(1,763,356) for Q1 2026; Net loss: $(1,779,217) for Q1 2026.Balance sheet snapshots: Cash and cash equivalents of $5,897,470 and Total Stockholders’ Equity of $6,725,281 as of March 31, 2026.Business HighlightsExpanded product offerings into cannabis insurance solutions through partnerships with Frontier Risk and AlphaRoot to provide tailored property, liability, workers' compensation and risk management products.Broadened payments portfolio by adding Lüt and GreenCard, introducing closed-loop, ACH-debit and end-to-end payment infrastructure across major cannabis payment methods.Entered a Second Amended PCCU Agreement (extended through December 2031) increasing Safe Harbor’s share of loan interest income to up to 65%, reducing asset hosting fees, and including a retroactive payment.Launched a pooled employer 401(k) retirement plan tailored to state-legal cannabis businesses and expanded a full-spectrum lending platform covering commercial real estate, working capital, equipment financing, revenue-based lending, accounts receivable financing, bridge financing, sale-leaseback, business acquisition financing and loan syndications.Operational deposit growth: average deposit balances in emerging U.S. markets grew 29% year over year, adding over 100 new customer depository accounts and representing 31% of total average deposit balances.Original SEC Filing: SHF Holdings, Inc. [ SHFS ] - 8-K - May. 18, 2026DisclaimerThis is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.