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Cannabis fintech firm SHF Holdings' Q3 revenue rises on loan program income growth

By Reuters News


Overview

  • US cannabis fintech platform's Q3 revenue rose 6.5% yr/yr, driven by loan program income growth

  • Operating loss for Q3 narrowed 17.7% yr/yr due to higher revenue and lower compensation expenses

  • Company entered nonbinding term sheet for proposed business combination with Opifex Media


Outlook

  • Company does not intend to draw on its equity line of credit while the Opifex term sheet remains in effect


Result Drivers

  • LOAN PROGRAM INCOME - Revenue growth was primarily driven by a 70.2% increase in loan program income, attributed to improved revenue-sharing economics under an amended agreement with Partner Colorado Credit Union

  • CLIENT DEPOSIT GROWTH - Average client deposit balances rose 3.8% yr/yr to $112 mln, with quarter-end trailing 14-day average deposits reaching $119.3 mln, reflecting a shift toward larger, higher-deposit-balance client relationships

  • LOWER COMPENSATION EXPENSES - Operating loss narrowed due in part to a 10.6% decrease in compensation and employee benefits expenses


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$1.95 mln


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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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