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Mar 31, 2024
LMFA Q1 2024 Earnings Report
LMFA achieved over 105% year-over-year revenue growth and generated net income for the first quarter of 2024.
Key Takeaways
LM Funding America, Inc. reported strong financial results for Q1 2024, with a 105% increase in revenue to $4.7 million and a net income of $1.9 million, driven by successful Bitcoin mining operations.
Revenue increased by approximately 105% year-over-year to $4.7 million.
Net income reached $1.9 million, a significant improvement from the net loss in the 2023 comparable quarter.
Positive Core EBITDA of $4.4 million was achieved.
The company held 163.4 Bitcoin valued at approximately $11.7 million as of March 31, 2024.
Revenue by Segment
Forward Guidance
The Company anticipates entering into new hosting agreements that reflect the economic conditions post-2024 halving and will continue to assess further investments in Antminer equipment to fuel our growth. Considering current market conditions and the future outlook for Bitcoin, the company remains very optimistic about the future.
Positive Outlook
- New hosting agreements reflecting the 2024 post-halving economic realities.
- Purchase of 300 Bitmain S21 Antminer high efficiency machines, increasing mining capacity.
- Anticipated boost in long-term revenue due to S21 Antminers.
- Potential for new all-time high Bitcoin prices in the six months post-halving.
- Continued assessment of further investments in Antminer equipment to fuel growth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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