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Sep 30, 2022
LMFA Q3 2022 Earnings Report
Reported financial results for Q3 2022 and provided a business update.
Key Takeaways
LM Funding America reported its Q3 2022 financial results, revealing revenues of $188,000 and a cash balance of $10.2 million as of September 30, 2022. The company is actively mining Bitcoin since September 2022 and plans to increase its mining capacity to approximately 2,700 miners by year-end.
Revenues for the quarter ended September 30, 2022, were approximately $188,000 as compared to $224,000 for the comparable quarter in 2021.
Cash of $10.2 million as of September 30, 2022.
Working capital of $15.5 million as of September 30, 2022.
Total stockholders’ equity of $62.2 million as of September 30, 2022.
LMFA
LMFA
LMFA Revenue by Segment
Revenue by Segment
Rental Revenue
CapyFin.com Forward Guidance
LM Funding expects to have approximately 2,700 miners mining by year’s end, up from 848 machines as of September 30, 2022. Production is expected to increase to 270 petahash by year’s end when the company hopes to have the approximately 2,700 miners energized.
Positive Outlook
- Expected to have approximately 2,700 miners mining by year’s end, up from 848 machines as of September 30, 2022.
- Production is expected to increase to 270 petahash by year’s end when the company hopes to have the approximately 2,700 miners energized.
- Purchased four hundred additional S19J Pros and two hundred S19XP miners, which we expect to come online between now and March 31, 2023.
- Balance sheet remains strong.
- Merger with SeaStar Medical successfully consummated on October 28, 2022.
Challenges Ahead
- Experienced issues with one of third-party hosting companies.
- Looking for alternative solutions to host approximately 2,690 miners.
- Previously, anticipated having more than 5,000 miners operational by the fourth quarter of 2022.
- Revenues for the quarter ended September 30, 2022, were approximately $188,000 as compared to $224,000 for the comparable quarter in 2021.
- Shift in focus to Bitcoin mining, and timing of Bitcoin mining late in the quarter, as well as the timing of association fee payoffs.