LM Funding America, Inc. Q3 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

Financial Highlights (Q3 2022 vs Q3 2021)
  • Revenue: $180,000 (↓ from $224,000 in Q3 2021) – reflects strategic shift toward Bitcoin mining.
  • Bitcoin Mining Revenue: $42,000 – first quarter generating revenue from mining activities (commenced late Q3 2022).
  • Operating Expenses: $5.5 million (↑ from $2.4 million) – driven primarily by a $3.6 million increase in non-cash stock compensation and higher professional fees.
  • Net Loss: $6.6 million (widened from $5.5 million) – included an unrealized loss of $194,000 on investment in LMF Acquisition Opportunities.
  • Cash Position: $10.2 million as of September 30, 2022.
  • Working Capital: $15.5 million – reflects strong liquidity position.
  • Stockholders' Equity: $62.2 million, or $4.75/share (vs. prevailing market price of ~$0.78/share at time of call).
  • Debt: No long-term debt on the balance sheet.
  • Cash from Operations (9M 2022): ($1.7) million vs. +$5.3 million in 9M 2021 – prior year benefited from $14M BORQS note transaction gain.
Operational and Strategic Updates

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Operator: Good morning, ladies and gentlemen, and welcome to the LM Funding Third Quarter 2022 Business Updates Conference Call. At this time all participants are placed on a listen-only mode and the floor will be open for questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, Mr. David Waldman, Investor Relations. Sir, the floor is yours. David Waldman: Good morning, and thank you for joining LM Funding America's third quarter 2022 conference call. On the call with us today are Bruce Rogers, Chief Executive Officer, and Richard Russell Chief Financial Officer of LM Funding. This morning the company announced its operating results for the quarter-ended September 30 2022 and its financial condition as of that date. The press release is posted on the company's website lmfunding.com. In addition, the company has filed its quarterly report on Form 10-Q with the U.S. Securities and Exchange Commission, which can also be accessed on the company's website as well as the SEC's website at www.sec.gov. If you have any questions after the call, or would like any additional information about the company, please contact Crescendo Communications at 212-671-1020. Before management reviews the company's operating results for the quarter-ended September 30 2022 and the company's financial condition at September 30, 2022 we'd like to remind everyone this conference call may contain forward-looking statements. All statements other than state

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