Q1 2024 LM Funding America Inc Earnings Call Transcript
Key Points
- LM Funding America Inc reported a significant increase in revenue, up 105% in Q1 2024 compared to the same quarter last year.
- The company achieved a net income of $1.9 million in Q1 2024, marking a substantial turnaround from a net loss of $7.2 million in Q1 2023.
- Positive core EBITDA of approximately $4.4 million was reported for the quarter ended March 31, 2024, compared to an EBITDA loss in the previous year.
- The company successfully expanded its Bitcoin mining operations, increasing its mining capacity to 639 petahash per second with the addition of new, efficient mining machines.
- LM Funding America Inc is exploring opportunities to lower mining costs and potentially expand operations to include hosting for AI machines, indicating strategic growth and diversification.
- Despite significant financial improvements and expansion, the market's valuation of LM Funding America Inc's shares remains low, with the stock price being less than a fifth of stockholders' equity per share.
- The company expressed frustration over the perceived undervaluation by the market, which could impact investor sentiment and stock performance.
- There are ongoing uncertainties and risks associated with Bitcoin's price volatility and regulatory changes that could affect future profitability.
- LM Funding America Inc is still in the process of transitioning from its legacy business to primarily focusing on Bitcoin mining, which may involve operational and strategic risks.
- The company has taken on debt to fund strategic initiatives, which could pose financial risks if the investments do not yield the expected returns.
Greetings. Welcome to the LM Funding America Inc. First Quarter 2024 Business Update Conference Call. (Operator Instructions) Please note, the conference is being recorded. I will now turn the conference over to your host, Ted Ayvas. You may begin.
Good morning, and thank you for joining LM Funding America's 2024 First Quarter Financial Results and Business Update 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 March 31st, 2024, and its financial condition as of that date. The press release is posted on the Company's website, LM Funding.com. In addition, the Company has filed its quarterly report on Form 10-Q with the US 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
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
