LM Funding America, Inc. Q4 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

  • Quarter: Q4 and Fiscal Year Ended December 31, 2023
  • Revenue:
    • Q4 2023: $4.1 million (Up 262% from $1.1 million in Q4 2022)
    • Full Year 2023: $13 million (Up 665% from $1.7 million in 2022)
    • Driven primarily by growth in Bitcoin mining revenue ($12.3 million in FY 2023 vs. $0.9 million in FY 2022)
  • Core EBITDA:
    • Q4 2023: $0.3 million (Positive, versus a loss of $2.8 million in Q4 2022)
    • FY 2023: Loss of $0.2 million (Improved from a loss of $6.5 million in 2022)
  • Operating Expenses:
    • FY 2023: $23 million (Down from $26.4 million in 2022)
    • Decrease due to reduced payroll and professional fees, offset by increased mining costs and depreciation
  • Net Loss:
    • Q4 2023: $1.6 million (Improved from $19.7 million loss in Q4 2022)
    • FY 2023: $15.9 million (Improved from $29.2 million loss in FY 2022)
  • Bitcoin Mining Highlights:
    • 423 Bitcoins mined in 2023, valued at ~$12.3 million (Avg. $29K/BTC)
    • Value of stockholders' equity: $36.2 million or $14.52/share as of Dec 31, 2023

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Operator: Good morning, everyone, and welcome to the LM Funding America Fourth Quarter Business Update Conference Call. At this time, all participants are in placed on a listen-only mode and we will open the floor for your questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, Ted Ayvas. Sir, the floor is yours. Ted Ayvas: Good morning, and thank you for joining LM Funding America's 2023 financial results and business update 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 fourth quarter and year ended December 31, 2023, 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 annual report on Form 10-K 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 Cresendo Communications at (212) 671-1020. Before management reviews the company's operating results for the three months and year ended December 31, 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

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