Safe Harbor Q1 net income $2.0M (vs -$1.4M); revenue $4.1M, down 3% YoY

SHF Holdings, Inc.

2024-Q1 EPS reported $0.04 revenue$4,050,799

Net income of $2.0M (diluted EPS $0.04) vs net loss of $1.4M in Q1 2023; adjusted EBITDA up 165% to $1.1M.
Revenue $4.1M, down 3% YoY; loan income surged 251% to $1.64M as loan book nearly tripled.
Operating expenses fell 35.8% to $3.7M; cash and equivalents $5.6M at March 31, 2024.
Originated $9M first lien secured loan in Denver and $4.6M secured credit facility in Michigan.
CEO Sundie Seefried appointed to Board of Directors on April 15, 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SHF Holdings, Inc. reported first quarter ended March 31, 2024 results: revenue approximately $4.1 million, net income approximately $2.0 million.

Period: first quarter ended March 31, 2024
Revenue: approximately $4.1 million
Net income: approximately $2.0 million
Result: reported results

Exact text from the filing

announced today its financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial & Operational Summary ● Net Income increased 245% to approximately $2.0 million, compared to a net loss of approximately $1.4 million in the same period of 2023; ● Revenue was approximately $4.1 million, compared to approximately $4.2 million for the first quarter of 2023;

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SHF Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-018882

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