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LM FUNDING AMERICA, INC.
LMFACIK 0001640384NasdaqNon-AcceleratedSmaller ReportingFinance ServicesDelawareFY ends Dec 31
Period
FY 2025
Revenue
$8.84M
Net Income
$-26.92M
Total Assets
$51.32M
Equity
$30.62M
Shares Out
16.16M
Op. Cash Flow
$-13.99M
Business
LM Funding America, Inc. operates two principal lines of business: a Bitcoin mining operation and a specialty finance business. Its mining business deploys computing power through its subsidiary US Digital Mining and Hosting Co., LLC to mine Bitcoin and periodically sells mined Bitcoin to support operations, while its specialty finance business purchases and services delinquent association receivables and offers programs like the New Neighbor Guaranty. The company’s key segments are its Bitcoin mining operations and its Association-focused specialty finance division. It participates in the global Bitcoin network and operates mining sites in U.S. locations including Oklahoma and Kentucky, while its specialty finance activities are concentrated in Florida.
Summary from filing dated 2025-03-31
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Digital mining revenues | 8 | 10 | 12 | 945,560 | — | |
| Specialty finance revenue | 452,476 | 443,599 | 550,445 | 626,773 | — | |
| Rental revenue | 108,834 | 123,444 | 144,514 | 161,618 | 141,569 | |
| Total revenues | 9 | 11 | 13 | 2 | 898,941 | |
| Digital mining cost of revenues (exclusive of depreciation and amortization shown below) | 6 | 7 | 9 | 1 | — | |
| Curtailment and energy sales | −658,048 | 0 | — | — | — | |
| Staff costs and payroll | 6 | 5 | 6 | — | — | |
| Depreciation and amortization | 8 | 8 | 5 | 478,020 | 11,087 | |
| Loss (gain) on fair value of Bitcoin, net | 2 | −7 | — | — | — | |
| Impairment loss on mining equipment | 5 | 1 | 0 | — | — | |
| Professional fees | 2 | 2 | 2 | 3 | 2 | |
| Selling, general and administrative | 2 | 817,041 | 851,806 | 635,268 | 417,963 | |
| Real estate management and disposal | 115,040 | 159,913 | 146,716 | 110,465 | 132,283 | |
| Collection costs | 41,843 | 41,043 | 29,875 | −12,213 | 4,459 | |
| Settlement costs with associations | 3,693 | 0 | 10,000 | 160 | 2,000 | |
| Loss on disposal of assets | 501,800 | 136,100 | 9,389 | −38,054 | — | |
| Other operating costs | 1 | 899,569 | 999,959 | 2 | 444,345 | |
| Total operating costs and expenses | 32 | 17 | 23 | 26 | 9 | |
| Operating loss | −23 | −6 | −10 | −25 | −8 | |
| Unrealized gain on marketable securities | 10,330 | 9,190 | 13,570 | −56,830 | −1 | |
| Impairment loss on prepaid machine deposits | −4,885 | −12,941 | −36,691 | −3 | — | |
| Unrealized loss on investment and equity securities | −179,972 | −1 | −10 | 4 | 886,543 | |
| Unrealized gain on Galaxy loan derivative | 285,160 | 0 | — | — | — | |
| Gain (loss) on fair value of purchased Bitcoin, net | −52,704 | 39,197 | — | — | — | |
| Loss on fair value of digital assets receivable | −3 | 0 | — | — | — | |
| Credit loss on digital assets receivable | −9,000 | 0 | — | — | — | |
| Other income - coupon sales | 0 | 4,490 | 639,472 | — | — | |
| Interest expense | −1 | −443,700 | — | — | — | |
| Interest income | 3,124 | 307,316 | 249,586 | 399,094 | 211,427 | |
| Loss before income taxes | −27 | −8 | −19 | −26 | 5 | |
| Income tax expense | 0 | 0 | −60,571 | −1 | −326,178 | |
| Net loss | −27 | −8 | −19 | −28 | 5 | |
| Less: loss attributable to non-controlling interest | 54,994 | 340,056 | 3 | −1 | −243,898 | |
| Net loss attributable to LM Funding America Inc. | −27 | −7 | −16 | −29 | 5 | |
| Less: deemed dividends (Note 9) | −2 | −7 | — | — | — | |
| Net loss attributable to common shareholders | −28 | −14 | −16 | — | — | |
| Basic loss per common share (Note 1) | −3.28 | −5.02 | −6.98 | −13.1 | 0.7 | |
| Diluted loss per common share (Note 1) | −3.28 | −5.02 | −6.98 | −13.1 | 0.6 | |
| Weighted average number of shares outstanding, Basic | 9 | 3 | 2 | 2 | 7 | |
| Weighted average number of shares outstanding, Diluted | 9 | 3 | 2 | 2 | 8 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2024 2024-09-30 | FY 2024 2024-06-30 | FY 2024 2024-03-31 |
|---|---|---|---|---|---|---|
| Cash | 1 | 3 | — | — | — | |
| Digital assets - current (Note 4) | 3 | 9 | — | — | — | |
| Finance receivables | 17,533 | 21,051 | — | — | — | |
| Marketable securities (Note 7) | 37,380 | 27,050 | — | — | — | |
| Receivable from sale of Symbiont assets (Note 7) | 0 | 200,000 | — | — | — | |
| Prepaid expenses and other assets | 1 | 827,237 | — | — | — | |
| Digital assets - collateral (Note 4) | 6 | 0 | — | — | — | |
| Digital assets receivable, net (Note 4) | 13 | 0 | — | — | — | |
| Galaxy loan derivative (Note 8) | 47,673 | 0 | — | — | — | |
| Income tax receivable | 31,187 | 31,187 | — | — | — | |
| Current assets | 23 | 14 | — | — | — | |
| Fixed assets, net (Note 5) | 10 | 18 | 19 | 21 | 21 | |
| Intangible assets, net (Note 5) | 6 | 5 | — | — | — | |
| Deposit on mining equipment (Note 6) | 1,597 | 467,172 | — | — | — | |
| Long-term investments - equity securities (Note 7) | 233 | 4,255 | — | — | — | |
| Investment in Seastar Medical Holding Corporation (Note 7) | 24,840 | 200,790 | — | — | — | |
| Digital assets - long-term (Note 4) | 8 | 0 | — | — | — | |
| Digital assets - collateral (Note 4) | 2 | 5 | — | — | — | |
| Right of use assets (Note 9) | 700,000 | 900,000 | — | — | — | |
| Other assets | 384,234 | 73,857 | — | — | — | |
| Long-term assets | 28 | 31 | 27 | 24 | 25 | |
| Total assets | 51 | 44 | 38 | 35 | 41 | |
| Accounts payable and accrued expenses | 2 | 989,563 | — | — | — | |
| Note payable - short-term (Note 8) | 7 | 386,312 | — | — | — | |
| Master digital currency loan (Note 8) | 11 | 0 | — | — | — | |
| Due to related parties (Note 11) | 48,319 | 15,944 | — | — | — | |
| Current portion of lease liability (Note 9) | 194,618 | 170,967 | — | — | — | |
| Total current liabilities | 20 | 2 | — | — | — | |
| Note payable - long-term (Note 8) | 2 | 6 | — | — | — | |
| Lease liability - net of current portion (Note 9) | 590,368 | 776,535 | — | — | — | |
| Long-term liabilities | 3 | 7 | — | — | — | |
| Total liabilities | 22 | 9 | — | — | — | |
| Preferred stock, par value $.001; 150,000,000 shares authorized; no shares issued and outstanding as of December 31, 2025 and December 31, 2024 | — | — | — | — | — | |
| Common stock, par value $.001; 350,000,000 shares authorized; 14,123,497 and 5,133,412 shares issued and outstanding as of December 31, 2025 and December 31, 2024 | 13,592 | 4,602 | — | — | — | |
| Additional paid-in capital | 123 | 103 | — | — | — | |
| Accumulated deficit | −93 | −66 | −66 | −62 | −56 | |
| Total LM Funding America stockholders' equity | 31 | 37 | — | — | — | |
| Non-controlling interest | −2 | −2 | — | — | — | |
| Total stockholders' equity | 29 | 35 | 30 | 30 | 39 | |
| Total liabilities and stockholders equity | 51 | 44 | — | — | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 8 | 8 | 5 | 478,020 | 1,383 | |
| Noncash lease expense | 224,356 | 109,842 | 98,536 | 95,098 | 100,698 | |
| Amortization of debt issue costs | 255,968 | 35,435 | 0 | — | — | |
| Stock compensation | 0 | 76,322 | 1 | 1 | 219,667 | |
| Stock option expense | 687,748 | 443,220 | 2 | 17 | — | |
| Professional fees paid in common shares | 177,660 | 100,001 | 0 | — | — | |
| Accrued investment income | 0 | −197,104 | −159,692 | −392,412 | −74,520 | |
| Accrued interest expense on finance lease | 55,510 | 0 | — | — | — | |
| Digital assets other income | 0 | −4,490 | 0 | — | — | |
| Loss (gain) on fair value of Bitcoin, net | 2 | −7 | 0 | — | — | |
| Loss on digital asset receivable | 3 | 0 | — | — | — | |
| Impairment loss on mining machine deposits | 4,885 | 12,941 | 36,691 | 3 | — | |
| Unrealized gain on Galaxy loan derivative | −285,160 | 0 | — | — | — | |
| Unrealized loss on investment and equity securities | 179,972 | 1 | 10 | −4 | −886,543 | |
| Prepaid expenses and other assets | 471,518 | 4 | 189,407 | 651,472 | −845,853 | |
| Hosting deposits | 0 | −12,941 | −36,691 | −3 | — | |
| Advances (repayments) to related party | 32,375 | −6,901 | −52,643 | −45,732 | 89,235 | |
| Accounts payable and accrued expenses | 756,312 | −1 | 177,478 | 393,260 | 349,644 | |
| Mining of digital assets | −8 | −10 | −12 | −945,560 | — | |
| Lease liability payments | −232,736 | −108,131 | −95,948 | −98,569 | −103,646 | |
| Net cash used in operating activities | −14 | −12 | −3 | −9 | 3 | |
| Capital expenditures | −2 | −2 | −2 | −15,382 | −14,411 | |
| Proceeds from sale of fixed assets | 0 | 78,806 | 0 | — | — | |
| Collection of note receivable | 200,000 | 1 | 3 | — | — | |
| Acquisition of hosting site | −4 | −4 | — | — | — | |
| Investment in notes receivable | 0 | −4 | −125,000 | — | −2 | |
| Investment in digital assets - Bitcoin | −23 | −485,500 | — | — | — | |
| Investment in digital assets - Tether | −33,143 | 0 | −35,157 | −988,343 | −1 | |
| Proceeds from sale of Bitcoin | 9 | 8 | 27,815 | 518,931 | 2 | |
| Proceeds from the sale of Tether | 33,694 | 11,928 | 0 | — | — | |
| Change in deposits for mining equipment | 448,458 | 0 | — | — | — | |
| Distribution to members | −1,015 | −19,616 | 0 | — | — | |
| Net cash provided by (used in) investing activities | −20 | 379,421 | 2 | −19 | −23 | |
| Proceeds from borrowings, net of issuance costs | 13 | 6 | 0 | — | — | |
| Insurance financing repayments | −734,030 | −709,491 | −624,481 | −299,033 | −220,363 | |
| Exercise of options | 0 | 25,000 | — | — | — | |
| Proceeds from warrant exercise | 95,999 | 5 | — | — | 10 | |
| Proceeds from the issuance of common stock, net of issuance costs | 27 | 2 | 0 | — | 31 | |
| Repurchase of common stock | −8 | 0 | — | — | — | |
| Net cash provided by financing activities | 32 | 13 | −731,031 | −299,033 | 41 | |
| NET INCREASE (DECREASE) IN CASH | −2 | 976,321 | −2 | −28 | 21 | |
| Insurance financing | 904,229 | 528,217 | 716,292 | 660,120 | 210,260 | |
| ROU assets and lease obligation recognized | 0 | 859,474 | 21,887 | — | — | |
| ROU asset true-up | 14,710 | 0 | — | — | — | |
| Initial recognition of Galaxy loan derivative | 237,487 | 0 | — | — | — | |
| Tech infrastructure note receivable applied towards acquisition | 0 | 4 | 0 | — | — | |
| Change in accounting principle (see Note 1) | 0 | 614,106 | 0 | — | — | |
| Digital assets transferred to digital assets - receivable, net | 16 | 0 | — | — | — | |
| Issuance of common stock as retainer for services | 253,800 | 0 | — | — | — | |
| Cash paid for taxes | 0 | 0 | 0 | 2 | — | |
| Cash paid for interest | 692,535 | 430,232 | 0 | — | 1,892 |
Filings
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