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SHF Holdings (SHFS) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 7, 2026 · SHF Holdings (SHFS) Q2 2026 earnings results →
Q2 2026 Revenue up 5% year over year to $1.9M · 78¢ of every $1 of revenue lost · operating margin -53.0%
SHF Holdings made $1.9M in Q2 2026 (+5% Y/Y): Loan Program Income $838K, Account Fee Income $824K, Investments Income $258K. Operating margin -53.0%, net loss $1.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 7, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $1.9M in Q2 2026, up 5% year over year and down 2% from the previous quarter. Loan Program Income was the largest line at 43% of revenue. Loan Program Income added $282K year over year (up 51%), 315% of the total change. Safe Harbor Program Income declined 22%.
Operating costs exceeded revenue by $1.0M, an operating margin of -53.0%. Total costs grew 5% against revenue growth of 5%. The fastest-growing cost line was General & admin (+94%). The quarter ended with a net loss of $1.5M, narrower than the previous quarter's $1.8M loss.
Operating cash flow was −$1.8M. Non-cash charges added back $42K of share-based compensation. Working capital and other items used $284K.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 7, 2026 | $1.9M | +5% | -53.0% | −$1.5M | −$1.8M |
| Q1 2026 | 10-Q | May 15, 2026 | $2.0M | +2% | -89.3% | −$1.8M | −$1.1M |
| Q4 2025 | 10-K | Apr 15, 2026 | $2.1M | -44% | -59.1% | −$583K | −$1.1M |
| Q3 2025 | 10-Q | Nov 12, 2025 | $1.8M | -47% | -66.4% | $180K | −$538K |
| Q2 2025 | 10-Q | Aug 14, 2025 | $1.8M | -54% | -52.6% | −$931K | −$675K |
| Q1 2025 | 10-Q | May 21, 2025 | $1.9M | -52% | -103.1% | −$827K | −$1.1M |
| Q4 2024 | 10-K | Apr 10, 2025 | $3.7M | -18% | -215.0% | −$51.7M | −$2.8M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About SHF Holdings
The Company is based in Golden, Colorado. Founded in 2015 by Partner Colorado Credit Union (“PCCU”), SHF was among the first companies to provide compliant banking and lending services to cannabis related businesses (“CRBs”). Our mission is to provide reliable, compliant financial services to the legal cannabis, hemp, and related industries by enabling financial institution customers to offer compliant banking, lending, and other financial services to CRBs. We provide compliance and loan origination services to financial institutions that wish to offer business banking, private banking, and commercial banking services to clients operating in or adjacent to the state-legal cannabis industry.
In its own words, from its 10-K, filed Apr 15, 2026.
SHF Holdings against its Finance Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +5% against the peers' median +17%. Operating margin: -53.0% against the peers' median 5.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| SHFS SHF Holdings | Q2 2026 | $1.9M | +5% | -53.0% |
| AXP American Express | Q3 2026 | $20.1B | +9% | 22.6% |
| BTGO Bitgo Holdings | Q2 FY27 | $4.3B | +80% | -0.4% |
| General Motors Financial Company | Q3 2026 | $4.3B | -0.6% | 15.3% |
| SOFI SoFi Technologies | Q3 2026 | $1.4B | +44% | 22.9% |
| COIN Coinbase Global | Q3 2026 | $1.2B | -35% | 5.1% |
| CRCL Circle Internet Group | Q3 2026 | $865M | +17% | 24.1% |
| CHYM Chime Financial | Q3 2026 | $718M | +32% | 4.8% |
| GDOT Green DOT | Q2 2026 | $596M | +18% | -0.1% |
Source: SHF Holdings 10-Q on SEC EDGAR · CIK 1854963 · Finance Services
More on SHFS
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results