Welcome to our dedicated page for SHF Holdings news (Ticker: SHFS), a resource for investors and traders seeking the latest updates and insights on SHF Holdings stock.
SHF Holdings, Inc. (NASDAQ: SHFS), doing business as Safe Harbor, regularly issues news and updates related to its role as a cannabis-exclusive financial platform. Its disclosures focus on banking, lending, payments and business services for regulated cannabis and hemp operators, as well as programs that enable banks and credit unions to serve cannabis-related businesses through Safe Harbor’s managed platform.
News items commonly highlight product launches and platform expansions, such as the introduction of the Payroll Boost payroll cashflow solution in partnership with Canopy HR, and the launch of what the company describes as the cannabis industry’s first complete financial solutions platform to help operators bank, borrow, operate and grow. Updates also cover new service categories, including cannabis-specific insurance solutions delivered through partnerships with Frontier Risk and AlphaRoot within the Safe Harbor Advantage Partner Network.
Investors and industry participants can also find strategic and corporate developments in Safe Harbor’s news flow. Examples include the expansion of its Consulting and Managed Services division through the integration of 420 IT Solutions’ founders and operating assets, leadership hires aimed at strengthening lending strategy and client experience, and commentary on federal cannabis rescheduling and proposed banking legislation such as the SAFER Banking Act.
Safe Harbor’s releases frequently discuss capital structure and financing arrangements, including recapitalization efforts, Nasdaq listing compliance, and the establishment of an equity line of credit with CREO Investments LLC to support lending and platform growth. Coverage of conference presentations and policy-focused events provides additional insight into management’s views on cannabis finance, regulatory change and M&A trends.
For those tracking SHFS, this news stream offers ongoing visibility into how Safe Harbor evolves its cannabis-focused fintech platform, develops new partnerships, and responds to shifts in the legal and regulatory landscape surrounding cannabis banking and financial services.
Safe Harbor Financial (NASDAQ: SHFS) reported a significant improvement in its Q1 2024 performance. Net income soared by 245% year-over-year to $2.0 million, reversing a net loss of $1.4 million in Q1 2023. Adjusted EBITDA increased 165.3% to $1.1 million. Operating expenses fell by 35.8% to $3.7 million. However, revenue slightly declined by 3% to $4.1 million. CEO Sundie Seefried highlighted the company's strategic initiatives and growth in lending programs, noting a 251% increase in loan income. Key operational highlights included originating substantial loans in Denver and Michigan. The company has $5.6 million in cash and equivalents as of March 31, 2024.
Safe Harbor Financial, operating as SHF Holdings, Inc., will release its Q1 2024 financial results on May 13, 2024. The company specializes in financial services and credit for the regulated cannabis industry. A conference call with the CEO and CFO will follow the release to discuss results and business highlights.
Safe Harbor Financial, a leading financial services provider to the regulated cannabis industry, issues a statement on the DEA rescheduling cannabis from Schedule I to Schedule III. CEO Sundie Seefried highlights the positive impact on lending opportunities, access to capital, and financial stability in the industry. This shift is expected to drive growth, innovation, and job creation. The global implications of rescheduling could influence international agreements and treaties. Despite the positive changes, challenges with payment networks and regulatory compliance persist. Safe Harbor Financial remains committed to providing tailored financial solutions to support the evolving cannabis sector.
FAQ
What is the current stock price of SHF Holdings (SHFS)?
What is the market cap of SHF Holdings (SHFS)?
