Quarterly ResultMay 18, 2026, 07:52 AM
Safe Harbor Q1 Revenue $2.0M, Loan Income +55.6%; Net Loss ($1.8M)
AI Summary
Safe Harbor Financial reported first-quarter 2026 results with revenue increasing 2.2% year-over-year to approximately $2.0 million, driven by a 55.6% rise in loan program income to $0.8 million. Total operating expenses decreased by 4.7% year-over-year. The company reported a net loss of ($1.8) million, compared to ($0.8) million in the prior year, primarily due to a non-cash change in warrant liabilities. Safe Harbor also highlighted significant operational expansions into insurance, retirement solutions, and a broader lending platform, alongside a strengthened balance sheet and a favorable regulatory outlook for the cannabis industry.
Key Highlights
- Q1 2026 revenue increased 2.2% year-over-year to approximately $2.0 million.
- Loan program income grew 55.6% year-over-year to approximately $0.8 million.
- Total operating expenses decreased 4.7% year-over-year to approximately $3.7 million.
- Net loss for Q1 2026 was approximately ($1.8) million, compared to ($0.8) million in Q1 2025.
- Cash and cash equivalents stood at $5.9 million as of March 31, 2026.
- Stockholders’ equity was $6.7 million as of March 31, 2026, a significant improvement from a ($16.9) million deficit a year prior.
- Expanded into cannabis insurance and retirement solutions, and broadened its payments portfolio.
- Launched a full-spectrum lending platform for cannabis-related businesses.
- Second Amended PCCU Agreement increased loan interest income share to 65%, expecting $9M+ incremental revenue.
Price Impact
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