LM Funding America, Inc. Q3 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

Financial Highlights (Quarter Ended September 30, 2023)
  • Total Revenue: $3.4 million, up from $0.2 million in Q3 2022 (year-over-year increase of approx. $3.2 million).
  • Sequential Revenue Growth: +7% compared to Q2 2023.
  • Digital Mining Revenue: $3.3 million from mining 117.1 Bitcoins vs. 2.2 Bitcoins mined in Q3 2022.
  • Operating Expenses: $6.6 million, up from $5.5 million in Q3 2022.
    • $2.7 million increase in digital mining costs
    • $1.5 million increase in depreciation
    • Offset by $3 million decrease in stock compensation & $300,000 drop in professional fees
  • Net Loss Attributable to Shareholders: $3.7 million, improved from $6.7 million loss in Q3 2022.
  • Core EBITDA Loss: $600,000, improved from $1.5 million loss in Q3 2022.
Balance Sheet (as of September 30, 2023)
  • Cash: $500,000
  • Bitcoin Holdings: Valued at approx. $2.2 million
  • Working Capital: $4.5 million
  • Stockholders’ Equity: $35.9 million, or $2.45 per share (vs. trading price of ~$0.40)
  • Minimal long-term debt
Operational Highlights

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Greetings! Welcome to the LM Funding America, Inc. Third Quarter 2023 Business Update Conference Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. Please note, this conference is being recorded. I will now turn the conference over to your host, Ted Ayvas, Investor Relations. Ted, you may begin. Ted Ayvas : Good morning and thank you for joining LM Funding America's third quarter 2023 conference call. On the call with us today are Bruce Rodgers, 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, 2023, and its financial condition as of last 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, 2023, and its financial condition as of that date, we would like to remind everyone that this conference call may contain forward-looking statements. All statements

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional