GlobeNewsWire
18 May 2026, 11:45 UTC · 3d ago
Source · https://www.globenewswire.com/news-release/2026/05/18/3296528/0/en/Safe-Harbor-Financial-Reports-First-Quarter-2026-Results-and-Provides-Corporate-Update.html
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The DOJ placed state-licensed medical cannabis on Schedule III and a DEA hearing for rescheduling adult use cannabis is set for June 29-July 15. — Federal rescheduling is a massive catalyst that reduces regulatory risk and potentially removes tax burdens (Section 280E) for the entire cannabis financial ecosystem.
+0.80Safe Harbor transitioned from a stockholders' deficit of ($16.9) million to stockholders' equity of $6.7 million over the last twelve months. — A fundamental shift from negative to positive equity significantly reduces insolvency risk and improves the company's creditworthiness.
+0.60Loan program income increased 55.6% year-over-year to approximately $0.8 million in Q1 2026. — Strong growth in a high-margin revenue stream suggests successful restructuring of agreements and increasing demand for cannabis lending.
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Total revenue for Q1 2026 was approximately $2.0 million, representing a 2.2% increase year-over-year. — Positive revenue growth indicates stability, though the percentage increase is modest compared to the growth in loan income.
+0.20Total operating expenses decreased by 4.7% year-over-year. — Cost reduction combined with revenue growth suggests an improving path toward operational profitability.
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The company reported revenue growth, a significant increase in loan program income, reduced operating expenses, and a transformed balance sheet from a deficit to positive equity.
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