CORRECTED-LM Funding America Q4 sequential revenue rises on higher bitcoin production

Overview

• Bitcoin miner's Q4 revenue rose 19% yr/yr

• Reported adjusted EBITDA loss of $9.3 mln

• Mining margin fell to 25% from 49% in Q3, mainly due to lower bitcoin prices

Outlook

• Company says focus in 2026 is on scaling production, improving efficiency, and increasing bitcoin per share

• LM Funding expects early 2026 production to reflect highest energized hashrate and bitcoin output in its history

Result Drivers

• HIGHER BITCOIN PRODUCTION - Sequential revenue growth was driven by increased bitcoin production as the Mississippi facility ramped up and Oklahoma saw improved uptime, per CFO Richard Russell

• LOWER BITCOIN PRICE - Mining margin declined mainly due to a lower average bitcoin price, which also led to significant non-cash losses on bitcoin holdings and equipment impairment

• HIGHER OPERATING EXPENSES - Full-quarter integration of the Mississippi facility increased operating expenses, contributing to the net loss

Company press release: ID:nGNX5ZqrWF

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"

• Wall Street's median 12-month price target for LM Funding America Inc is $4.50, about 1,306.2% above its March 26 closing price of $0.32

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