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SHFSW

SHF Holdings, Inc.

SHFSW

SHF Holdings, Inc. • NASDAQ
$0.04 ▲ 0.00% (+0.00)
Market Cap $104826
52w High $0.04
52w Low $0.04
Dividend Yield 0%
P/E 0
Volume 100
Outstanding Shares 2.83M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.834M ▼ $3.05M ▲ $179.508K ▲ 9.789% ▲ $0.06 ▲ $432.782K ▲
Q2-2025 $1.943M ▼ $2.816M ▼ $-930.715K ▼ -47.912% ▼ $-0.33 ▼ $-988.108K ▼
Q1-2025 $3.209M ▼ $3.924M ▼ $-827.199K ▲ -25.774% ▲ $-0.11 ▲ $-825.758K ▲
Q4-2024 $3.753M ▼ $12.8M ▲ $-51.664M ▼ -1.376K% ▼ $-18.56 ▼ $-7.7M ▼
Q3-2024 $3.828M $3.298M $353.817K 9.243% $0.13 $521.511K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $861.722K ▲ $13.664M ▲ $6.668M ▼ $6.997M ▲
Q2-2025 $247.318K ▼ $5.956M ▼ $23.815M ▲ $-17.859M ▼
Q1-2025 $951.201K ▼ $6.655M ▼ $23.605M ▼ $-16.949M ▼
Q4-2024 $2.325M ▼ $13.218M ▼ $25.506M ▼ $-12.288M ▼
Q3-2024 $5.861M $66.873M $27.521M $39.352M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $179.508K ▲ $-538.037K ▲ $385.641K ▲ $766.8K ▲ $614.404K ▲ $-538.04K ▲
Q2-2025 $-930.715K ▼ $-674.608K ▲ $3.3K ▲ $-12.771K ▲ $-684.079K ▲ $-674.608K ▲
Q1-2025 $-313.627K ▲ $-1.141M ▲ $3.245K ▼ $-255.765K ▲ $-1.393M ▲ $-1.141M ▲
Q4-2024 $-51.664M ▼ $-2.777M ▼ $4.221K ▲ $-764.457K ▼ $-3.537M ▼ $-2.777M ▼
Q3-2024 $353.817K $502.432K $2.09K $-755.029K $-250.507K $502.432K

Five-Year Company Overview

Income Statement

Income Statement The income statement points to a very small, niche business that has struggled to reach consistent profitability. Revenue appears modest and fairly flat over the last few years, while losses have widened recently. Earlier on, the company had short periods that looked closer to break-even or slightly profitable, but that has not held. The pattern suggests a business still investing heavily relative to its size, with earnings per share swinging sharply, likely due to the small base of operations and the SPAC / warrant structure. Overall, the income profile looks early-stage and volatile, with profitability not yet established.

Balance Sheet

Balance Sheet The balance sheet looks thin and somewhat strained. The company operates with a small asset base and very limited cash reported, which can limit flexibility. Debt has appeared in recent years, while equity has slipped into negative territory most recently, hinting at accumulated losses and a fragile capital structure. For a financial-services platform trying to scale in a complex niche, this leaves less room for error and makes future access to funding an important watchpoint. The numbers portray a company that is still financially lightweight and carrying some balance-sheet stress.

Cash Flow

Cash Flow Reported cash flow figures are essentially flat in the data provided, which likely reflects limited disclosure in this summary rather than a true absence of cash movements. In practice, a business with ongoing losses and a small balance sheet is unlikely to be generating strong internal cash. That usually means reliance on external funding or tight cost control to keep the business running. Until detailed cash flow statements are reviewed, it is safest to view cash generation as weak and funding risk as a key area to monitor, especially if growth investments need to continue.

Competitive Edge

Competitive Edge Competitively, SHF (Safe Harbor) occupies a very specific and hard-to-serve corner of financial services: banking and financial infrastructure for cannabis-related businesses. Its strength lies in regulatory expertise, specialized compliance technology, and an early start serving this industry. These factors create meaningful barriers for newcomers and help explain its strong niche reputation. Network effects from partnering with many banks and credit unions, plus high switching costs for cannabis clients, reinforce its position. On the other hand, the company is tied closely to a single, politically sensitive industry and faces the risk that regulatory changes could invite much larger, better-capitalized banks into the same space or alter the economics of the niche.

Innovation and R&D

Innovation and R&D Innovation is a clear bright spot. The company’s proprietary compliance and monitoring platform is designed specifically for cannabis banking, automating tasks that most institutions find risky and labor-intensive. Over time, Safe Harbor has expanded from basic accounts into a broader suite of services—lending, operating support (like payroll and merchant services), and advisory offerings. This feels less like traditional “R&D labs” and more like continuous product and regulatory innovation. The main question is execution: can the company keep enhancing the platform (for example with smarter analytics and stronger security), deepen its service bundle, and maintain its lead as regulations and competitors evolve? The strategy is ambitious; the resources to sustain it will be important to watch.

Summary

Putting it together, SHFSW represents an early-stage, specialized financial-services platform with a strong strategic story but a fragile financial foundation. The business model—providing compliant banking and financial services to cannabis businesses and partner institutions—addresses a real and complex pain point, giving the company a credible competitive moat built on expertise and technology. At the same time, the income statement shows persistent losses, the balance sheet looks thin with negative equity and limited cash, and cash generation appears weak from the available data. Future outcomes will depend heavily on three things: the pace of revenue growth in this niche, the company’s ability to strengthen its balance sheet and manage funding needs, and how the regulatory and competitive landscape for cannabis banking evolves over the next few years.