Core Insights - Safe Harbor Financial reported positive Adjusted EBITDA for the last three years, with Adjusted Working Capital at approximately $2 million [1][7] - The company modified its Commercial Alliance Agreement with Partner Colorado Credit Union, allowing for a growth strategy under new CEO Terry Mendez [1][5] - Loan Interest Income saw significant increases of 82% in Q4 2024 and 123% for the full year compared to the previous year [6][8] Financial Performance - Q4 2024 revenue was approximately $3.7 million, a decrease from $4.5 million in Q4 2023, but an increase from $3.5 million in Q3 2024 [7] - Full-year 2024 revenue totaled approximately $15.2 million, down from $17.6 million in 2023, primarily due to reduced deposit activity [11] - Operating expenses for 2024 decreased over 42% to approximately $22.3 million from $38.3 million in 2023 [12] Operational Highlights - The company processed over $25 billion in cannabis-related funds, marking a significant milestone on its 10th anniversary [8][13] - Safe Harbor originated a $1.5 million secured credit facility for a Missouri cannabis operator, enhancing its role as a financial partner in the cannabis sector [8][13] - The Amended Commercial Alliance Agreement with PCCU extends the term through December 31, 2028, providing financial flexibility [5][9] Adjusted Metrics - Adjusted EBITDA for 2024 was approximately $2.9 million, compared to $3.6 million in 2023 [7][29] - The company reported a net loss of approximately $48.3 million for 2024, which includes significant non-cash expenses related to goodwill and intangible asset impairments [15][20] - Adjusted Working Capital, after accounting for non-cash liabilities, was calculated at approximately $2 million [31]