Safe Harbor Q3 revenue up 38.6% to $2.38M; agrees to acquire Abaca for $30M

SHF Holdings, Inc.

2022-Q3 EPS reported $0.09 revenue$5,903,213

Revenue $2.38M (+38.6% YoY); net income $1.06M vs $946K; adj. EBITDA $1.28M vs $947K.
Loan originations for nine months 2022: $18.9M (424% of full-year 2021's $3.6M).
Appointed James Dennedy as CFO; effective post-quarter.
Agreed to acquire Abaca for $30M in cash and stock, adding 300+ accounts and $3.4B gross transactions.
Cash & securities $7.27M; $24.4M loans in underwriting as of Nov 2.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SHF Holdings, Inc. reported Three Months Ended September 30, 2022 results: revenue $2,379,314, net income $1,056,235.

Period: Three Months Ended September 30, 2022
Revenue: $2,379,314
Net income: $1,056,235
Result: reported results

Exact text from the filing

For the quarter ended September 30, 2022, total revenue increased 38.6% to $2.37 million, compared to $1.72 million in the same period last year. This increase was the result of increased investment income related to higher interest rates and increased loan interest income. For the third quarter of 2022, the Company sourced six new loans. For the nine months ended September 30, 2022, total revenue increased 11.4% to $5.90 million, compared to $5.30 million in the same period in 2021. For the quarter ended September 30, 2022, net income was $1.06 million, compared to $946 thousand in the same three month period ended September 30, 2021.

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SHF Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-22-032298

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