The massive Q4 EPS miss confirms deteriorating fundamentals, while the April update shows stagnant mining operations. The stock's deep discount to BTC holdings suggests the market is pricing in further operational deterioration or potential distress. Monitor for any loan covenant issues related to the Galaxy facility and watch for further BTC sales to fund operations.
Price Chart
Executive Summary
LM Funding America reported Q4 2025 EPS of -$1.33, a 504.5% miss vs the -$0.22 consensus, with revenue of $2.1M in line with estimates. The filing is a monthly Bitcoin production update for April 2026, showing a slight sequential decline in Bitcoin mined (9.4 vs 9.6 in March) and a reduction in the Bitcoin treasury to 334.0 BTC valued at $25.3M. The stock trades at a deep discount to Bitcoin holdings ($0.24 vs $1.18 per share in BTC), but the company's core mining operations show no growth and the prior quarter's massive earnings miss continues to weigh.
Key Financial Metrics
Key Facts
- Q4 2025 EPS of -$1.33 missed consensus of -$0.22 by 504.5%
- Revenue of $2.1M in line with consensus estimates
- April 2026 Bitcoin production: 9.4 BTC mined, down from 9.6 in March
- Bitcoin treasury of 334.0 BTC valued at $25.3M ($1.18/share) vs stock price of $0.24
- Hashrate flat at 0.79 EH/s with 7,508 machines energized
- 174 BTC held by Galaxy as collateral for loan facility
- Stock trades at ~80% discount to net Bitcoin holdings per share
Financial Impact
Q4 2025 EPS miss of -$1.11 per share vs consensus; Bitcoin holdings of $25.3M represent ~6.3x current market cap
Risk Factors
- Continued operational losses and cash burn from mining operations
- Potential forced BTC sales if Bitcoin price declines further
- Loan facility with Galaxy may have margin call risk on 174 BTC collateral
- Stagnant hashrate and machine count indicate no growth capex
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-215803 |
| Document: lmfa-ex99_1.htm | 0001193125-26-215803 |
| Document: 0001193125-26-215803-index-headers.html | 0001193125-26-215803 |
| Document: 0001193125-26-215803-index.html | 0001193125-26-215803 |
| Document: 0001193125-26-215803.txt | 0001193125-26-215803 |
| 8-K Data (Synthetic) | 0001193125-26-215803 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | DEF 14A | — | awaiting T+20 | — | — |
Oct 8, 2026 19d ago | 8-K | — | awaiting T+20 | — | — |
Jul 10, 2026 15w ago | 8-K | $0.1321 | awaiting T+20 | — | — |
Jul 8, 2026 15w ago | 8-K | $0.1495 | awaiting T+20 | — | — |
May 27, 2026 21w ago | 8-K | $0.2520 $0.1490 | ▼ −40.87% | ▼ −37.73% | — |
May 15, 2026 23w ago | 8-K | $0.2310 $0.2070 | ▲ +10.39% | ▲ +12.51% | — |
May 15, 2026 23w ago | Press Release | $0.2310 $0.2070 | ▲ +10.39% | ▲ +12.51% | — |
May 11, 2026 24w ago | 8-K | $0.2300 $0.2180 | ▲ +5.22% | ▲ +4.91% | — |
Apr 13, 2026 28w ago | 8-K | $0.2780 $0.2300 | ▲ +17.27% | ▲ +24.99% | — |
Apr 13, 2026 28w ago | Press Release | $0.2780 $0.2300 | ▲ +17.27% | ▲ +24.99% | — |
US Market Status
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