LM Funding America, Inc. Q1 FY2025 Earnings Call

· Earnings call transcript and AI-powered summary

  • Bitcoin Mining Production: Mined 24.3 Bitcoins during Q1 2025, a 12% increase from Q4 2024.
  • Revenue: Mining revenue was $2.3 million, up 25% sequentially vs. Q4 2024; however, it was down 50.5% year-over-year due to April 2024 halving.
  • Margins: Mining margin improved to 38.5%, from 31.2% in Q4 2024, aided by curtailment energy sales and operational efficiency.
  • Energy Curtailment: Generated $150K from curtailment power sales in Q1; $120K in April alone, contributing to margin stabilization amid Bitcoin price volatility.
  • Bitcoin Holdings: Held 160.2 Bitcoin valued at $13.2M ($2.58/share) as of March 31, 2025. At April-end, 148.7 Bitcoin would be worth ~$15.5M ($3.01/share) based on Bitcoin's May 13 price of $104,000.
  • Market Cap Discrepancy: Bitcoin holdings valued at >1.5x market cap, highlighting potential undervaluation as per CEO.
  • Financials: Net loss of $5.4M; adjusted EBITDA loss of $2.8M driven by a $1.8M non-cash Bitcoin impairment, which has since mostly reversed.
  • Cost Management: SG&A and other operating expenses declined by 7.7% YoY, driven by leaner operations.

Operational Highlights

  • Achieved 560 PH/s hash rate capacity at end of March 2025.

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Operator: Good day, and thank you for standing by. Welcome to the LM Funding America's Inc., First Quarter 2025 Earnings Conference Call. At this time all participants are in a listen-only mode. After the presentation there will be a question-and-answer session. [Operator Instructions] Please note that today's conference is being recorded. I will now hand the conference over to your speaker host, Cody Fletcher of Investor Relations. Please go ahead. Cody Fletcher : Thank you, operator, and thank you all for joining LM Funding America's First Quarter 2025 Earnings Conference Call. Joining us today are Chairman and CEO, Bruce Rodgers, President of U.S. Digital & Mining, Ryan Duran; and CFO, Richard Russell. For today's call we have uploaded an accompanying supplemental investor presentation which can be found under the events section of LM Funding's investor relations website. Before we get started, please note that our remarks today may include forward-looking statements. These statements are subject to risks and uncertainties and actual results may differ materially. We will also reference certain non-GAAP financial measures today. Please refer to our 10-Q filing and our website for a full reconciliation of these non-GAAP performance measures for the most comparable GAAP measures. For a comprehensive discussion of these and other risks, please refer to our filings with the SEC available on sec.gov and in the investor section of our website at www.lmfunding.com/investors. I wi

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