The massive EPS miss and cash burn signal severe financial strain. With only $0.8M cash and $22.7M liabilities, the Galaxy facility maturity on June 26 is a critical catalyst — watch for refinancing risk or forced Bitcoin sales. Dilution from warrant exercises (4.2M warrants at $0.001) continues to pressure per-share metrics.
Price Chart
Executive Summary
LMFA reported Q1 2026 revenue of $2.1M (-11% YoY) and a GAAP EPS of -$1.33, a 504.5% miss vs consensus of -$0.22. The net loss widened to $10.1M from $5.4M a year ago, driven by $7.0M in non-cash Bitcoin fair-value adjustments. Despite record hashrate (790 PH/s) and record monthly Bitcoin production (9.6 BTC in March), the company's cash position fell to $0.8M and total liabilities rose to $22.7M, with the Galaxy facility maturing June 26, 2026.
Key Financial Metrics
Key Facts
- Revenue $2.1M, down 11.1% YoY and 10.9% sequentially
- GAAP EPS -$1.33 vs consensus -$0.22 (504.5% miss)
- Net loss $10.1M vs $5.4M YoY; Core EBITDA loss $8.4M vs $2.8M
- Non-cash Bitcoin fair-value adjustments totaled $7.0M
- Cash dropped to $0.8M from $1.4M at year-end 2025
- Galaxy Digital facility maturity extended to June 26, 2026
- Record energized hashrate of 790 PH/s in March 2026
- Bitcoin holdings 338.2 BTC valued at $23.1M at quarter-end
- Weighted average shares surged to 21.5M from 5.1M YoY (dilution)
Financial Impact
Revenue miss of $0 (in line with $2.1M consensus), but EPS miss of -$1.11 vs consensus; net loss widened by $4.7M YoY; cash burn $3.3M in operating cash flow
Risk Factors
- Galaxy Digital facility maturity June 26, 2026 — refinancing risk or default
- Continued cash burn with only $0.8M cash on hand
- Bitcoin price volatility drives further fair-value losses
- Massive share dilution (weighted avg shares 21.5M vs 5.1M YoY)
- Potential going-concern risk if financing not secured
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3295753 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 6d 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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