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SHF Holdings
(NASDAQ:SHFS)
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Rating:42Neutral
Price Target:
$0.17
▲(4.38% Upside)
Action:Reiterated
Date:08/08/26
SHFS scores low primarily due to weak financial fundamentals—heavy losses and substantial cash burn—reinforced by bearish technicals (below major moving averages with negative MACD). Valuation support is limited because a negative P/E is not informative and no dividend yield is available, while recent corporate events provide only modest offset amid a transition-focused backdrop.
Positive Factors
Compliance‑focused banking niche
Serving a compliance‑intensive, underserved niche (regulated cannabis and ancillary businesses) creates durable differentiation. By embedding transaction monitoring, due diligence and reporting into account services, SHF can maintain sticky fee streams and higher switching costs versus commodity banking over the next several quarters.
Negative Factors
Deep negative operating and free cash flow
Sustained negative operating and free cash flow materially erodes runway and financial flexibility. Over several months this forces reliance on external financing or equity issuance, constraining investment in product scale, increasing dilution risk and limiting ability to weather cyclical or regulatory shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Compliance‑focused banking niche
Serving a compliance‑intensive, underserved niche (regulated cannabis and ancillary businesses) creates durable differentiation. By embedding transaction monitoring, due diligence and reporting into account services, SHF can maintain sticky fee streams and higher switching costs versus commodity banking over the next several quarters.
Read all positive factors
SHF Holdings (SHFS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.02M
Dividend YieldN/A
Average Volume (3M)1.64M
Price to Earnings (P/E)―
Beta (1Y)1.78
Revenue Growth-28.59%
EPS Growth94.79%
CountryUS
Employees40
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)-1.00
Shares Outstanding12,332,955
10 Day Avg. Volume77,234
30 Day Avg. Volume1,636,468
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)0.38
Price to Sales (P/S)0.40
P/FCF Ratio-0.91
Enterprise Value/Market Cap>-0.01
Enterprise Value/Revenue>-0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
SHF Holdings Business Overview & Revenue Model
Company Description
SHF Holdings, Inc., operating through its subsidiaries, specializes in facilitating access to a comprehensive array of banking, lending, and other crucial financial services for institutions that cater to the cannabis industry. Utilizing its exclu...
How the Company Makes Money
SHF Holdings makes money primarily by generating fee and interest-related income associated with providing financial services to its client base, including businesses operating in higher-compliance industries such as regulated cannabis. Key revenu...
SHF Holdings Earnings Call Summary
Earnings Call Date:Nov 12, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Nov 17, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted substantial growth in net income and loan interest income, alongside decreased operating expenses and strategic partnerships. However, these positives were offset by significant declines in overall revenue, deposit and onboarding revenue, and investment income, largely due to challenging market conditions. Despite improvements in certain financial metrics, the overall sentiment is balanced due to the mixed results.Positive Updates
Significant Increase in Net Income
Net income increased 147% year-over-year to $354,000 compared to a net loss of $748,000 for the year ago period.
Negative Updates
Revenue Decline
Revenue decreased 19.6% from the prior year period, with total revenue for 9 months down 11.6%.
Read all updates
Q3-2024 Updates
Positive
Negative
Significant Increase in Net Income
Net income increased 147% year-over-year to $354,000 compared to a net loss of $748,000 for the year ago period.
Read all positive updates
Company Guidance
During Safe Harbor Financial's Q3 2024 earnings call, the company reported several key financial metrics, showcasing a significant turnaround. Net income increased by 147% year-over-year to $354,000, reversing a net loss of $748,000 from the previous year. Loan interest income saw substantial growth, rising by 48% for the quarter and 143.5% over the nine months, while operating expenses decreased by 13% and 66% for the respective periods. Despite a 19.6% drop in quarterly revenue to $3.5 million and a 26% decline in deposit activity revenue, Safe Harbor managed to enhance its cash flow and liquidity, ending the quarter with $5.9 million in cash and cash equivalents. The company remains focused on leveraging market growth opportunities, particularly in the expanding cannabis sector, while navigating challenges like decreased deposit activity and regulatory uncertainties. Looking forward, Safe Harbor anticipates full-year 2024 revenue to be in the range of $15 million to $15.5 million.SHF Holdings Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
52
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.94B | 7.67M | 18.41M | 20.28M | -32.00M | 7.01M |
| Gross Profit | 9.85M | 4.35M | 19.27M | 18.89M | -33.21M | 7.00M |
| EBITDA | -2.80M | -5.40M | -3.75M | -17.74M | -44.19M | 3.29M |
| Net Income | -3.70M | -2.16M | -48.32M | -17.28M | -35.13M | 3.29M |
Balance Sheet | ||||||
| Total Assets | 14.15M | 17.21M | 13.22M | 67.86M | 99.45M | 7.52M |
| Cash, Cash Equivalents and Short-Term Investments | 5.73M | 6.78M | 2.34M | 4.91M | 8.39M | 5.50M |
| Total Debt | 622.07K | 710.51K | 11.88M | 15.02M | 58.59M | 0.00 |
| Total Liabilities | 8.05M | 8.97M | 25.51M | 33.51M | 94.34M | 181.50K |
| Stockholders Equity | 6.10M | 8.24M | -12.29M | 34.36M | 5.11M | 7.34M |
Cash Flow | ||||||
| Free Cash Flow | -2.49B | -3.42M | 430.48K | -1.04M | 1.68M | 2.94M |
| Operating Cash Flow | -2.49B | -3.42M | 430.48K | -832.14K | 1.70M | 2.95M |
| Investing Cash Flow | 655.34M | 442.19K | 12.39K | -2.18M | -2.90M | 1.04M |
| Financing Cash Flow | 2.27B | 7.43M | -3.01M | -488.83K | 4.09M | -1.49M |
SHF Holdings Risk Analysis
SHF Holdings disclosed 56 risk factors in its most recent earnings report. SHF Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
SHF Holdings Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
57 Neutral | $47.15M | 26.88 | 3.86% | ― | 8.66% | 958.30% | |
42 Neutral | $2.02M | -0.17 | -303.81% | ― | -28.59% | 94.79% | |
42 Neutral | $198.72M | -0.49 | -63.67% | 1.33% | -35.76% | -909.39% | |
41 Neutral | $13.17M | -83.02 | -0.48% | ― | 13.37% | -600.93% |
* Financial Sector Average
SHFS
SHF Holdings
0.16
-2.28
-93.44%
CARV
Carver Bancorp
1.65
-0.06
-3.51%
GLBZ
Glen Burnie Bancorp
4.51
0.39
9.47%
KFFB
Kentucky First Federal Bancorp
5.91
2.59
78.01%
BAFN
BayFirst Financial Corp
6.74
-2.70
-28.65%
MBBC
Marathon Bancorp
15.25
4.89
47.15%
SHF Holdings Corporate Events
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
SHF Holdings Executes Leadership Retention Agreements Amid Transition
Positive
Aug 5, 2026
On July 29, 2026, SHF Holdings’ board approved a retention plan for key employees and directors, and on August 5, 2026 the company executed retention agreements with all directors and senior executives including CEO and CFO Terrance Mendez, ...
Business Operations and StrategyExecutive/Board Changes
SHF Holdings Adopts Retention Plan Amid Potential Changes
Neutral
Aug 4, 2026
On July 29, 2026, SHF Holdings, Inc.’s board approved a retention plan and related agreement designed to provide financial incentives to key employees and directors in the event of a change in control or during periods of insolvency. The pla...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
SHF Holdings Appoints Michael Regan as Chief Operating Officer
Positive
Jul 17, 2026
On July 15, 2026, SHF Holdings, Inc. appointed Michael Regan as Chief Operating Officer and Secretary, formalizing his elevation to a key executive role without any special arrangements, understandings, or family relationships influencing the deci...
Executive/Board ChangesShareholder Meetings
SHF Holdings Shareholders Back Directors and Auditor at Meeting
Positive
Jun 24, 2026
On June 17, 2026, SHF Holdings, Inc. held its 2026 Annual Meeting of Stockholders, at which shareholders elected two Class II directors, Jonathon F. Niehaus and Sean Tonner, with both candidates receiving more votes for than withheld, alongside a ...
Executive/Board ChangesShareholder Meetings
SHF Holdings Announces Board Transition and Committee Leadership Changes
Neutral
May 11, 2026
On May 8, 2026, SHF Holdings, Inc. disclosed that director Richard Carleton chose not to stand for reelection at the company’s 2026 annual stockholders’ meeting, with the company emphasizing that his decision did not stem from any disa...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.