---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-017336"
form_type: "8-K"
ticker: "SHFS"
cik: "0001854963"
company_name: "SHF Holdings, Inc."
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T01:37:04.242347+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Safe Harbor Q1 revenue up 150% to $4.2M; record $1.1B deposits processed

## Summary
- Revenue $4.2M (up 150% YoY); net loss $1.4M vs net income $0.5M in Q1 2022.
- Processed deposits hit record $1.1B (up 33%); monthly avg deposits on deposit $213.6M (+55% YoY).
- Reduced balance sheet debt ~60%; resolved $68.6M in payables including $64.7M PCCU settlement.
- Announced partnership with Five Star Bank for up to $1B additional deposit capacity.
- FY 2023 revenue guidance of at least 50% increase vs $9.4M in FY 2022; expects positive Adj. EBITDA and cash flow.

## SEC filing metadata
- accession: 0001493152-23-017336
- form_type: 8-K
- ticker: SHFS
- cik: 0001854963
- company_name: SHF Holdings, Inc.
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1854963/000149315223017336/0001493152-23-017336-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1854963/000149315223017336/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-017336
- JSON: https://secwatch.observer/filing/0001493152-23-017336.json
- Plain text: https://secwatch.observer/filing/0001493152-23-017336.txt

## Key facts
- Earnings Releases
  SHF Holdings, Inc. reported the quarter ended March 31, 2023 results: revenue $4.2 million, net income $1.4 million. Guidance initiated.
  - Period: the quarter ended March 31, 2023
  - Revenue: $4.2 million
  - Net income: $1.4 million
  - Guidance: initiated
  - Result: reported results
  source text: For the quarter ended March 31, 2023, total revenue increased to $4.2 million, compared to $1.7 million in the prior year period, primarily due to higher investment and Deposit, Activity and Onboarding income. First quarter 2023 operating expense increased to $5.8 million, compared to $1.2 million in the prior year period, primarily driven by significantly higher compensation and employee benefits; stock-based compensation expense, professional service expenses; advertising and marketing expense; amortization and depreciation expense; and business insurance. 2 Net loss for Q1 2023 was $1.4 million, compared to net income of $0.5 million in the prior year period, primarily due to increased operating expenses and the loss in value of several of the financial instruments placed in connection with the business combination transaction with Northern Lights Acquisition Corp.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854963/000149315223017336/0001493152-23-017336-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.