The Galaxy Digital facility maturity extension to June 26, 2026 creates near-term refinancing risk given the $0.8M cash balance. Monitor the May 11 Bitcoin production update and any debt restructuring announcements. The stock trades at a fraction of Bitcoin treasury value ($25.3M vs $4M market cap), but the cash burn trajectory makes this a distressed asset play.
Price Chart
Executive Summary
LM Funding America reported Q1 2026 revenue of $2.1M, down 11.1% YoY, and a net loss of $10.1M, nearly double the prior year's $5.4M loss, driven by $7.0M in non-cash Bitcoin fair value adjustments. While operational metrics improved (record hashrate of 790 PH/s, 26.1 BTC mined), the headline financial deterioration and widening cash burn ($3.3M operating cash outflow) overshadow the operational progress for a $4M market-cap company.
Key Financial Metrics
Key Facts
- Total revenue of $2.1M declined 11.1% YoY from $2.37M.
- Net loss widened to $10.1M from $5.4M in Q1 2025.
- Core EBITDA loss was $8.4M vs $2.8M in the prior year.
- Operating cash flow was negative $3.3M, worsening from -$2.9M in Q1 2025.
- Cash balance fell to $0.8M from $1.4M at year-end 2025.
- Bitcoin holdings of 338.2 BTC valued at $23.1M at quarter-end; Galaxy Digital facility maturity extended to June 26, 2026.
- Record energized hashrate of ~790 PH/s achieved in March 2026.
Financial Impact
Revenue declined $0.26M YoY; net loss increased $4.7M; operating cash burn increased $0.4M.
Risk Factors
- Cash runway limited to ~2 quarters at current burn rate without debt restructuring or Bitcoin sales.
- Galaxy Digital facility maturity on June 26, 2026 creates refinancing risk.
- Bitcoin price volatility directly impacts reported earnings through fair value adjustments.
- Dilution risk from 4.2M warrants exercisable at $0.001/share.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-225325 |
| Document: lmfa-20260515.htm | 0001193125-26-225325 |
| Document: 0001193125-26-225325-index-headers.html | 0001193125-26-225325 |
| Document: 0001193125-26-225325-index.html | 0001193125-26-225325 |
| Document: 0001193125-26-225325.txt | 0001193125-26-225325 |
| 8-K Data (Synthetic) | 0001193125-26-225325 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | DEF 14A | — | awaiting T+20 | — | — |
Oct 8, 2026 18d 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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