SHF Holdings, Inc. (NASDAQ:SHFS) Q4 2023 Earnings Call Transcript

SHF Holdings, Inc. (NASDAQ:SHFS) Q4 2023 Earnings Call Transcript April 1, 2024

SHF Holdings, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).

Operator: Good afternoon and welcome to the Safe Harbor Financial Q4 2023 Earnings Call. Please note that this call is being recorded. All participants are now in listen-only mode. After the speakers’ remarks there will be a question and answer session. [Operator Instructions]. I will now turn the call over to Erika Kay, you may begin your conference.

Erika Kay: Thank you. Good afternoon, everyone, and welcome to the Fourth Quarter and Full Year 2023 Earnings Conference Call for Safe Harbor Financial. Before we start, please note that remarks made today include forward-looking statements, including statements with respect to the company's outlook and the company's expectations regarding its market opportunities and other financial operational matters. Each forward-looking statement discussed on today's call is subject to risks and uncertainties that could cause actual results to differ materially from those projected in such statements. Actual results and the timing of certain events may differ materially from the results or timing predicted or implied by such forward-looking statements, and reported results should not be considered as an indication for future performance.

Additional information regarding these factors appears under the heading Risk Factors in the Company's filings with the Securities and Exchange Commission or the SEC, which are available at www.sec.gov and on our website at ir.shfinancial.org. The forward-looking statements in this call will speak only as of today's date, and the company undertakes no obligation to update or revise any of these statements. Also during the call, Safe Harbor will present both GAAP and non-GAAP financial measures. A reconciliation of non-GAAP to GAAP measures is included in today's earnings press release, which you can find on the Company's Investor Relations website or on the SEC website. All dollar amounts expressed today are in U.S. currency. Presenting today will be Sundie Seefried, Chief Executive Officer; and Jim Dennedy, Chief Financial Officer of Safe Harbor.

I'll now hand the call over to Sundie. Sundie, please go ahead.

Sundie Seefried: Thank you, Erika, and welcome to our 2023 yearend earnings call. 2023 was another strong year of financial growth for Safe Harbor with record revenue of $17.56 million, an increase of 85.3%, up from $9.48 million in 2022. In addition to our continued year-over-year growth, we have impactfully elevated our position as a one-stop financial service center for cannabis related businesses across the country, building an expansive compliant financial products and services. I am also pleased to report that we have reached a point in our evolution where we have optimized our fintech platform to deliver multiple high margin revenue streams that are expected to contribute meaningfully to our growth going forward. By successfully scaling our platform with new credit and deposit tools, we have continued to differentiate Safe Harbor from our peers, further demonstrating the underlying value of our expertise and experience in this complex segments of the finance industry.

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