LM Funding America, Inc. (LMFA) Q3 2025 Earnings Call Transcript
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 14 2025
0mins
Should l Buy LMFA?
Source: SeekingAlpha
Revenue $2.2 million, up approximately 13% sequentially and 74% year-over-year. The sequential increase reflects stronger average Bitcoin pricing of $114,000 and contributions from the newly operational Mississippi facility for the second half of September.
Mining Margins 49%, driven by a shift from hosting fees to self-mining, utilizing curtailment and energy sales to offset mining expenses and higher fleet efficiency.
Curtailment and Energy Sales $152,000, down from $223,000 in Q2 due to cooler seasonal temperatures.
Net Loss $3.7 million, driven by increased staff costs and payroll expenses.
Core EBITDA Loss $1.4 million, driven by increased staff costs and payroll expenses.
Bitcoin Treasury 304 Bitcoin valued at $34.7 million at quarter end, nearly double the market cap. As of October 31, the Bitcoin treasury stood at approximately 295 Bitcoin, valued at roughly $31.9 million.
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Analyst Views on LMFA
Wall Street analysts forecast LMFA stock price to rise
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 0.243
Low
6.00
Averages
6.00
High
6.00
Current: 0.243
Low
6.00
Averages
6.00
High
6.00
About LMFA
LM Funding America, Inc. operates as a Bitcoin mining and specialty finance company. It has two reportable segments: Specialty Finance and Mining Operations. Its Bitcoin mining business operation deploys the computing power to mine Bitcoin and validate transactions on the Bitcoin network. Its specialty finance business offers funding to nonprofit community associations (Associations) located in the state of Florida. Its original product offering consists of providing funding to Associations by purchasing their rights under delinquent accounts that are selected by the Associations arising from unpaid Association assessments. It also purchases accounts on varying terms to suit each Association’s financial needs, including under its New Neighbor Guaranty program. In its New Neighbor Guaranty program, an Association assigns substantially all of its outstanding indebtedness and accruals on its delinquent units to the Company in exchange for payment of monthly dues on delinquent units.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
LM Funding America Inc. May Issue Up to $75 Million in Common Stock Through ATM Agreement, According to SEC Filing
Funding Announcement: A funding initiative has been launched by a company named "Game America Inc." offering up to $75 million under a new agreement.
SEC Filing: The details of this funding offer have been filed with the Securities and Exchange Commission (SEC).
See More
LM Funding America Inc. Enters Into ATM Offering Agreement with Maxim Group LLC on March 27, 2026 - SEC Filing
Funding Announcement: GameAmerica Inc. has entered into a significant funding agreement with Maxim Group LLC.
Effective Date: The agreement is set to take effect on March 27, 2026.
See More
LM Funding America Q4 2025 Earnings Call Insights
- Business Transformation: LM Funding America underwent a significant transformation in 2025, evolving from a single-site miner to a multi-site vertically integrated platform, ending the year with over 356 Bitcoins valued at approximately $31.2 million, thereby strengthening the foundation for future growth.
- Production Capacity Increase: By the end of 2025, the company achieved a total of 750 petahash across two sites in Oklahoma and Mississippi, a substantial increase from 560 petahash at the beginning of the year, demonstrating proactive progress in expanding production capabilities.
- Financial Performance: Total revenue for Q4 2025 reached $2.4 million, an 8.7% sequential increase and a 19% year-over-year rise, although the mining margin fell to 25% due to declining Bitcoin prices, the production of 22 Bitcoins partially offset the revenue compression.
- Future Outlook: Management anticipates focusing on improving production efficiency and increasing Bitcoin per share in 2026, with plans to leverage expansions in Mississippi and ongoing operations in Oklahoma, despite challenges posed by market volatility.
See More
LM Funding America Reports Q4 Earnings with Increased Revenue but Lower EPS
- Revenue Growth: LM Funding America reported Q4 revenue of $2.36 million, reflecting an 18.6% year-over-year increase and an 8.7% sequential rise, indicating the company's ongoing growth potential in Bitcoin production.
- Increased Bitcoin Production: The company mined 22.0 Bitcoins in Q4, up from 17.6 in Q3, primarily due to a higher energized hashrate, although the average Bitcoin price fell to approximately $99,700.
- Declining Profitability: The mining margin for Q4 was 25%, significantly lower than the 49% margin in Q3, highlighting the impact of Bitcoin price fluctuations on the company's profitability.
- Market Outlook: Despite an EPS of -$1.33 indicating short-term financial challenges, the growth in revenue and Bitcoin production lays a foundation for potential recovery and future growth.
See More
LM Funding Reports Q4 2025 Financial Highlights
- Revenue Growth: In Q4 2025, LM Funding reported revenue of $2.4 million, reflecting an 8.7% sequential increase and a 19.2% year-over-year rise, driven by higher Bitcoin production despite a decline in average Bitcoin prices.
- Increased Bitcoin Production: The company mined 22.0 Bitcoin in Q4 2025, a 25% increase from 17.6 Bitcoin in Q3 2025, attributed to higher energized hashrate, although the average Bitcoin price fell from $114,000 to $99,700.
- Widening Losses: The net loss for Q4 was $17.9 million, with a Core EBITDA loss of $9.3 million, primarily due to non-cash fair value losses on Bitcoin and impairment losses on mining equipment, indicating significant financial pressure in the current market.
- Bitcoin Holdings Growth: As of December 31, 2025, the company's Bitcoin holdings increased from approximately 150 to 356.4 Bitcoin, showcasing its aggressive expansion in the Bitcoin market despite facing price volatility challenges.
See More
LM Funding America, Inc. Reports Q4 Adjusted EBITDA of -$9.3 Million
Funding Announcement: GameAmerica, Inc. has announced a funding adjustment for Q4, reflecting a decrease in adjusted EBITDA.
Financial Impact: The adjusted EBITDA for the quarter is reported at -9.3 million USD, indicating a significant financial challenge for the company.
See More
LM Funding America Inc. May Issue Up to $75 Million in Common Stock Through ATM Agreement, According to SEC Filing
Funding Announcement: A funding initiative has been launched by a company named "Game America Inc." offering up to $75 million under a new agreement.
SEC Filing: The details of this funding offer have been filed with the Securities and Exchange Commission (SEC).
See More
LM Funding America Inc. Enters Into ATM Offering Agreement with Maxim Group LLC on March 27, 2026 - SEC Filing
Funding Announcement: GameAmerica Inc. has entered into a significant funding agreement with Maxim Group LLC.
Effective Date: The agreement is set to take effect on March 27, 2026.
See More
LM Funding America Q4 2025 Earnings Call Insights
- Business Transformation: LM Funding America underwent a significant transformation in 2025, evolving from a single-site miner to a multi-site vertically integrated platform, ending the year with over 356 Bitcoins valued at approximately $31.2 million, thereby strengthening the foundation for future growth.
- Production Capacity Increase: By the end of 2025, the company achieved a total of 750 petahash across two sites in Oklahoma and Mississippi, a substantial increase from 560 petahash at the beginning of the year, demonstrating proactive progress in expanding production capabilities.
- Financial Performance: Total revenue for Q4 2025 reached $2.4 million, an 8.7% sequential increase and a 19% year-over-year rise, although the mining margin fell to 25% due to declining Bitcoin prices, the production of 22 Bitcoins partially offset the revenue compression.
- Future Outlook: Management anticipates focusing on improving production efficiency and increasing Bitcoin per share in 2026, with plans to leverage expansions in Mississippi and ongoing operations in Oklahoma, despite challenges posed by market volatility.
See More
LM Funding America Reports Q4 Earnings with Increased Revenue but Lower EPS
- Revenue Growth: LM Funding America reported Q4 revenue of $2.36 million, reflecting an 18.6% year-over-year increase and an 8.7% sequential rise, indicating the company's ongoing growth potential in Bitcoin production.
- Increased Bitcoin Production: The company mined 22.0 Bitcoins in Q4, up from 17.6 in Q3, primarily due to a higher energized hashrate, although the average Bitcoin price fell to approximately $99,700.
- Declining Profitability: The mining margin for Q4 was 25%, significantly lower than the 49% margin in Q3, highlighting the impact of Bitcoin price fluctuations on the company's profitability.
- Market Outlook: Despite an EPS of -$1.33 indicating short-term financial challenges, the growth in revenue and Bitcoin production lays a foundation for potential recovery and future growth.
See More
LM Funding Reports Q4 2025 Financial Highlights
- Revenue Growth: In Q4 2025, LM Funding reported revenue of $2.4 million, reflecting an 8.7% sequential increase and a 19.2% year-over-year rise, driven by higher Bitcoin production despite a decline in average Bitcoin prices.
- Increased Bitcoin Production: The company mined 22.0 Bitcoin in Q4 2025, a 25% increase from 17.6 Bitcoin in Q3 2025, attributed to higher energized hashrate, although the average Bitcoin price fell from $114,000 to $99,700.
- Widening Losses: The net loss for Q4 was $17.9 million, with a Core EBITDA loss of $9.3 million, primarily due to non-cash fair value losses on Bitcoin and impairment losses on mining equipment, indicating significant financial pressure in the current market.
- Bitcoin Holdings Growth: As of December 31, 2025, the company's Bitcoin holdings increased from approximately 150 to 356.4 Bitcoin, showcasing its aggressive expansion in the Bitcoin market despite facing price volatility challenges.
See More
LM Funding America, Inc. Reports Q4 Adjusted EBITDA of -$9.3 Million
Funding Announcement: GameAmerica, Inc. has announced a funding adjustment for Q4, reflecting a decrease in adjusted EBITDA.
Financial Impact: The adjusted EBITDA for the quarter is reported at -9.3 million USD, indicating a significant financial challenge for the company.
See More
