Filing Flows › SHF Holdings (SHFS) › Q3 2025
SHF Holdings (SHFS) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 12, 2025
SHF Holdings (SHFS) reported revenue of $1.8M for the third quarter 2025 (Q3 2025), -47% from a year earlier and -0.6% from the quarter before. Operating margin was -66.4%, net earnings $180K (9.8% of revenue).
SHF Holdings, Q3 2025: revenue $1.8M (-47% year over year), operating margin -66.4%, net earnings $180K, operating cash flow −$538K. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.8M | -0.6% | -47% |
| Operating profit | −$1.2M | — | — |
| Net earnings | $180K | — | — |
| Operating cash flow | −$538K | — | — |
What changed
Revenue was $1.8M in Q3 2025, down 47% year over year and down 1% from the previous quarter.
Operating costs exceeded revenue by $1.2M, an operating margin of -66.4%. Total costs fell 8% while revenue fell 47%. Net earnings were $180K, down 49% year over year. The effective tax rate was 0.0%. Non-operating items added $1.4M, 778% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$538K. Non-cash charges added back $1K of depreciation and amortization and $596K of share-based compensation. Working capital and other items used $1.3M.
Questions
What was SHF Holdings' revenue in the third quarter 2025?
SHF Holdings (SHFS) reported revenue of $1.8M for the third quarter 2025 (Q3 2025), -47% from a year earlier and -0.6% from the quarter before.
Was SHF Holdings profitable in the third quarter 2025?
Operating loss was $1.2M (-66.4% of revenue) and net earnings $180K.
Source: SHF Holdings 10-Q on SEC EDGAR.