S
SHF Holdings, Inc.
Period
FY 2025
Revenue
$7.67M
Net Income
$-2.16M
Total Assets
$17.21M
Equity
$8.24M
Shares Out
6.46M
Op. Cash Flow
$-3.40M
Business
SHF Holdings, Inc. provides compliance infrastructure and financial services to enable partner financial institutions to offer banking and lending products to cannabis-related businesses (CRBs). The company operates a proprietary platform deployed across 41 states and territories, offering regulatory compliance consulting, deposit account servicing, commercial lending, and ancillary services such as ACH payments and wire transfers. Core segments include compliance and deposit services anchored to Partner Colorado Credit Union, a commercial lending program, and emerging managed services offerings following the acquisition of 420 IT Solutions' on-site due diligence capabilities.
Summary from 10-K filed 2026-04-15
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenue | 8 | 15 | 18 | 9 | 7 | |
| Compensation and employee benefits | 6 | 8 | 10 | 7 | 2 | |
| General and administrative expenses | 3 | 4 | 7 | 2 | 567,892 | |
| Professional services | 3 | 3 | 2 | 2 | 292,143 | |
| Lease expense | 232,773 | 258,477 | 315,614 | — | — | |
| Amortization of contract asset | 129,072 | — | — | — | — | |
| Credit loss (benefit) expense | −177,917 | −1 | — | — | — | |
| Impairment of goodwill | — | 6 | 13 | — | — | |
| Impairment of long-lived intangible assets | — | 3 | 6 | — | — | |
| Total operating expenses | 13 | 22 | 38 | 12 | 4 | |
| Operating loss | −5 | −7 | −21 | −2 | 3 | |
| Interest expense | −492,643 | −533,390 | 1 | — | — | |
| Change in fair value of warrant liabilities | 1 | 3 | 2 | −939,019 | — | |
| Gain on extinguishment of forward purchase derivative | 3 | — | — | — | — | |
| Costs incurred to secure financing | −987,621 | — | — | — | — | |
| Discount on common stock sold pursuant to the ELOC | −76,553 | — | — | — | — | |
| Change in the fair value of deferred consideration | 79,475 | 361,449 | −5 | 97,593 | — | |
| Total other income | 3 | 3 | −2 | 42 | — | |
| Net loss before provision (benefit) for income taxes | −2 | −4 | −19 | −44 | 3 | |
| Provision (benefit) for income taxes | −58,470 | 44 | −2 | −9 | — | |
| Net loss | −2 | −48 | −17 | −35 | 3 | |
| Deemed dividend on Series B Preferred Stock redemption | −241,435 | — | — | — | — | |
| Net loss attributable to common stockholders | −2 | −48 | — | — | — | |
| Weighted average shares outstanding, basic | 3 | 3 | 2 | 19 | — | |
| Weighted average shares outstanding, diluted | 3 | 3 | 2 | 19 | — | |
| Basic net loss per share | −0.82 | −17.43 | −8.12 | −1.85 | — | |
| Diluted net loss per share | −0.82 | −17.43 | −8.12 | −1.85 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 7 | 2 | 5 | 8 | 5 | |
| Accounts receivable | 1 | 1 | — | 1 | 522,896 | |
| Prepaid expenses | 862,400 | 659,536 | 546,437 | 175,585 | 6,021 | |
| Accrued interest receivable | — | 16,319 | 13,780 | 7,320 | 7,556 | |
| Forward purchase receivable | — | 5 | — | — | — | |
| Loans receivable, net | — | 13,332 | — | — | — | |
| Contract asset | 516,283 | — | — | — | — | |
| Other current assets | 3 | 3 | 82,657 | 150,817 | — | |
| Total Current Assets | 12 | 12 | 8 | 10 | 6 | |
| Long-term loans receivable, net | — | 378,854 | 381,463 | 1 | 1 | |
| Operating lease right to use assets | 500,000 | 700,000 | 859,861 | 1 | — | |
| Investment in preferred securities | 1 | — | — | — | — | |
| Prepaid expenses | 414,329 | 412,500 | 562,500 | 712,500 | — | |
| Contract asset | 3 | — | — | — | — | |
| Other assets | 15,510 | 22,722 | — | — | — | |
| Total Assets | 17 | 13 | 68 | 99 | 8 | |
| Accrued expenses | 1 | 1 | 1 | 1 | 129,546 | |
| Deferred revenue | 15,415 | 28,335 | — | — | — | |
| Lease liabilities | 181,963 | 161,952 | 132,546 | 20,124 | — | |
| Senior secured promissory note | — | 255,765 | 3 | — | — | |
| Deferred consideration | 3 | 3 | 3 | 14 | — | |
| Forward purchase derivative liability | — | 7 | — | — | — | |
| Stand-ready guarantee liability | 711,667 | — | — | — | — | |
| Financial indemnification liability | 433,968 | — | — | — | — | |
| Other current liabilities | 485,055 | 72,836 | 41,639 | 11,291 | — | |
| Total Current Liabilities | 6 | 13 | 8 | 50 | 181,505 | |
| Warrant liabilities | 39,620 | 1 | 4 | 666,510 | — | |
| Senior secured promissory note | — | 11 | 11 | — | — | |
| Stand-ready guarantee liability | 1 | — | — | — | — | |
| Financial indemnification liability | 657,804 | — | — | — | — | |
| Lease liabilities | 528,552 | 712,882 | 875,447 | 1 | — | |
| Total Liabilities | 9 | 26 | 34 | 94 | 181,505 | |
| Commitment and Contingencies (Note 20) | — | — | — | — | — | |
| Class A Common Stock, $.0001 par value, 1 billion and 130 million shares authorized, 4,281,523 and 2,783,666 issued and outstanding on December 31, 2025, and December 31, 2024, respectively | 428 | 278 | 273 | 2,374 | — | |
| Additional paid-in capital | 131 | 108 | 106 | 45 | — | |
| Accumulated deficit | −123 | −121 | −72 | −40 | — | |
| Total Stockholders Equity (Deficit) | 8 | −12 | 34 | 5 | 7 | |
| Total Liabilities and Stockholders Equity (Deficit) | 17 | 13 | 68 | 99 | 8 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization expense | 3,155 | 711,929 | 1 | 189,274 | 1,921 | |
| Stock compensation expense | 2 | 2 | 4 | 3 | — | |
| Amortization of prepaid consulting from the issuance of Series B Convertible Preferred Stock and Series B Warrants | 59,857 | — | — | — | — | |
| Net deferred indemnified loan origination fees | — | −63,275 | −45,806 | — | — | |
| Other non-cash issuance costs related to the ELOC | 800,000 | — | — | — | — | |
| Shares issued in settlement of a legal dispute | 200,000 | — | — | — | — | |
| Non-cash interest on issuance of convertible notes | 137,500 | — | — | — | — | |
| Lease expense | −7,981 | 23,181 | — | — | — | |
| Deferred tax expense, net | — | 44 | −2 | — | — | |
| Marketing expense settled via Common Stock | — | 100,000 | — | — | — | |
| Accounts receivable trade | 103,233 | −12,734 | 81,183 | 24,798 | −293,355 | |
| Accounts receivable related party | −41,460 | 1 | −863,593 | −710,698 | — | |
| Prepaid expenses | 561,913 | 86,901 | −220,852 | 55,997 | −3,468 | |
| Other current liabilities | −48,960 | 527 | — | — | — | |
| Accrued interest receivable | 16,319 | −2,542 | −6,460 | −236 | −7,556 | |
| Other current assets | 4,057 | −3 | 40,370 | −150,817 | — | |
| Accounts payable | 49,105 | −76,672 | −3 | 355,202 | — | |
| Accounts payable related party | 95,757 | −501,709 | 386,660 | −231,875 | — | |
| Accrued expenses | 9,085 | 292,396 | −464,424 | 402,767 | 37,742 | |
| Deferred revenue | −12,920 | 6,413 | — | — | −12,287 | |
| Net cash (used in) provided by operating activities | −3 | 430,477 | −832,144 | 2 | 3 | |
| Proceeds from sale of preferred securities | 50,000 | — | — | — | — | |
| Proceeds from loan repayment and sale | 392,186 | 12,394 | — | — | — | |
| Net cash provided by investing activities | 442,186 | 12,394 | −2 | −3 | 1 | |
| Tax withholding payments on vesting of restricted stock units | −12,771 | — | — | — | — | |
| Proceeds from convertible debt | 550,000 | — | — | — | — | |
| Redemption of Series B Convertible Preferred Stock | −292,800 | — | — | — | — | |
| Gross proceeds from issuance of Series B Convertible Preferred Stock and Series B Warrants | 6 | — | — | — | — | |
| Offering cost | −351,646 | — | — | — | — | |
| Proceeds from the sale of Class A Common Stock | 2 | — | — | — | — | |
| Repayment of financed insurance contract | −116,098 | — | — | — | — | |
| Repayment of senior secured promissory note | −255,765 | −3 | −488,834 | — | — | |
| Net cash provided by (used in) financing activities | 7 | −3 | −488,834 | 4 | −1 | |
| Net increase (decrease) in cash and cash equivalents | 4 | −3 | −4 | 3 | 2 | |
| Interest paid | 388,457 | 416,852 | 450,258 | — | — | |
| Reclassification of forward purchase receivable | −5 | — | — | — | — | |
| Marketing expense settled by the issuance of Common Stock | — | 50,000 | — | — | — | |
| Investment in preferred securities | 2 | — | — | — | — | |
| Prepaid consulting expense from the issuance of the Series B Convertible Preferred Stock and Series B Warrants | 371,307 | — | — | — | — | |
| Extinguishment of debt for issuance of Series B Convertible Preferred Stock and Series B Warrants | 11 | — | — | — | — | |
| Exchange of forward purchase derivative liability for the issuance of Series B Convertible Preferred Stock and Series B Warrants | 4 | — | — | — | — | |
| Exchange of convertible notes for Series B Convertible Preferred Stock and Series B warrants | 659,997 | — | — | — | — | |
| Financed insurance contract (classified in accrued expense) | 395,900 | — | — | — | — | |
| Issuance of stock to Abaca shareholders | 258,868 | — | 4 | 8 | — | |
| Accrued redemption payable to Series B holders | 181,378 | — | — | — | — | |
| Recognition of contract asset with corresponding stand-ready guarantee liability | 2 | — | — | — | — | |
| Recognition of contract asset with corresponding financial indemnification liability | 1 | — | — | — | — |
Filings
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Frequently asked questions
What is SHF Holdings, Inc.'s CIK number?
SHF Holdings, Inc.'s SEC CIK number is 0001854963 (1854963). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find SHF Holdings, Inc.'s SEC filings?
All of SHF Holdings, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did SHF Holdings, Inc. last report earnings?
SHF Holdings, Inc. (SHFS) most recently filed an earnings 8-K with the SEC on May 18, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001493152-26-024066). This is SHF Holdings, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is SHF Holdings, Inc.'s most recent earnings 8-K?
SHF Holdings, Inc.'s latest earnings 8-K (Item 2.02) was filed May 18, 2026 under accession 0001493152-26-024066. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View SHF Holdings, Inc.'s latest earnings 8-K →
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