SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (NASDAQ: SHFS), a leading provider of financial services to the cannabis industry, reported robust financial and operational performance for the three- and nine-month period ended September 30, 2023.
Q3 2023 Financial Results
For the quarter ended September 30, 2023
- Total Revenue: Safe Harbor achieved a substantial 82.11% increase in revenue, reaching $4.3 million, compared to $2.4 million in Q3 2022. According to the company, it was driven by higher investment and loan interest income as well as increased deposit activity and onboarding income.
- Operating Expenses: Increased to $3.8 million, compared to $1.6 million in the prior year period, attributed to higher compensation, employee benefits, marketing expenses, amortization, and depreciation.
- Net …