LM Funding America, Inc. Q4 FY2024 Earnings Call

· Earnings call transcript and AI-powered summary

LM Funding America Q4 and FY 2024 Earnings Summary

  • Transition to Vertical Integration: LM Funding successfully shifted from an asset-light model to full ownership and operations with a 15-megawatt site in Oklahoma.
  • Bitcoin Mining Output:
    • Mined 170.6 Bitcoin in FY 2024, an increase from 95.1 Bitcoin balance at end of 2023 to 150.2 Bitcoin as of December 2024.
    • Held 165.8 Bitcoin by February 2025, equivalent to $2.81 per share.
  • Revenue and Profitability:
    • FY 2024 revenue reached $11 million; Q4 2024 revenue was $2 million, down from $4.1 million in Q4 2023 due to the April Bitcoin halving and temporary machine idling.
    • Core EBITDA for FY 2024 was $3.9 million; Q4 2024 core EBITDA was $3.3 million, 10x higher year-over-year.
    • Net income of $2 million in Q4 2024 vs. net loss of $1.6 million in Q4 2023, driven by $4.3 million unrealized gains on Bitcoin holdings.
  • Cost Management and Financial Health:
    • 18% reduction in SG&A expenses YoY.
    • Cash and Bitcoin holdings combined grew 200% YoY to $17.4 million (cash: $3.4M; Bitcoin: $14M).
    • Uses a $5M secured loan backed by Bitcoin collateral instead of liquidating holdings, with 12% interest over 2 years.

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Operator: Good day and thank you for standing by. Welcome to the LM Funding America Fourth Quarter and Full Year 2024 Conference Call. At this time all participants are in a listen-only mode. After the speaker’s presentation there will be a question-and-answer session. [Operator Instructions]. Please be advised that today’s conference is being recorded. I would now like to hand the conference over to your speaker today Cody Fletcher, Investor Relations. Please go ahead. Cody Fletcher: Thank you Operator and thank you all for joining LM Funding America's fourth quarter and full year of 2024 earnings conference call. Joining us today are Chairman and CEO, Bruce Rogers; 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-K filing on our website for a full reconciliation of these non-GAAP performance measures to the most comparable GAAP measures. For a more comprehensive discussion of these and other risks, please refer to our filings with the SEC available on www.sec.gov and in the Investor section of our websi

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