Detailed financial statements for LM Funding America, Inc. (LMFA): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
LM Funding America, Inc. operates as a cryptocurrency mining and specialty finance company. It operates through two segments: Specialty Finance and Mining and Treasury Operations. The company also engages in Bitcoin mining operations; and provides funding to nonprofit community associations. LM Funding America, Inc. was founded in 2008 and is based in Tampa, Florida.
Analysis Summary
LM Funding America, Inc. reported revenue of $8.8M in the most recent fiscal year, growing at a 5-year CAGR of 46.7%.
Trailing-twelve-month margins: gross margin -25.4%, operating margin -337.4%, net margin -429.4%.
At the current price of $2.60, LMFA has negative trailing earnings (P/E not meaningful) and an ROE of -123.36%. Market capitalisation stands at $2M.
Balance sheet quality for LMFA: current ratio of 0.1, net debt of $19.2M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.6M | $4.2M | $3.4M | $2.4M | $1.3M | $14.0M | $6.4M | $6.2M | $11.0M | $8.8M |
| Cost of Revenue | $594600 | $2.2M | $465392 | -$86892 | -$442011 | -$209347 | $4.9M | 0 | $7.0M | $21.6M |
| Gross Profit | $4.0M | $2.0M | $2.9M | $2.5M | $1.7M | $14.2M | $1.5M | $6.2M | $4.0M | -$12.8M |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $4.3M | $2.7M | $1.7M | $1.4M | $3.7M | $6.7M | $20.1M | $6.7M | $817041 | $3.2M |
| Operating Expenses | $7.7M | $7.2M | $3.4M | $5.6M | $5.8M | $8.9M | $27.9M | $25.0M | $10.5M | $5.3M |
| Operating Income | -$3.7M | -$5.2M | -$472159 | -$3.1M | -$4.1M | $5.3M | -$26.4M | -$18.8M | -$6.5M | -$18.1M |
| EBITDA | -$3.6M | -$5.1M | -$403896 | -$3.0M | -$4.0M | $5.3M | -$26.0M | -$13.8M | -$324971 | -$17.7M |
| Interest Expense | $594600 | $614111 | $464811 | $102842 | $7189 | $653 | $4416 | 0 | $443700 | $1.1M |
| Pre-tax Income | -$3.7M | -$5.2M | -$472159 | -$3.1M | -$4.1M | $5.3M | -$26.4M | -$18.8M | -$7.7M | -$27.0M |
| Income Tax | -$1.3M | $3.4M | 0 | 0 | 0 | $326178 | $1.4M | $60571 | 0 | 0 |
| Net Income | -$2.4M | -$8.6M | -$472159 | -$3.0M | -$4.0M | $4.8M | -$29.2M | -$15.9M | -$7.3M | -$26.9M |
| EPS | $-900.00 | $-3210.00 | $-59.25 | $-118.25 | $-373.50 | $22.00 | $-335.25 | $-174.50 | $-65.25 | $-82.00 |
| EPS (Diluted) | $-897.75 | $-3209.50 | $-59.25 | $-118.00 | $-373.50 | $22.00 | $-335.25 | $-174.50 | $-65.25 | $-82.00 |
| Shares Outstanding (Diluted) | $2640 | $2688 | $7974 | $25469 | $10819 | $216864 | $87228 | $91353 | $112323 | $348015 |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.3M | $590394 | $3.5M | $822909 | $11.6M | $32.6M | $4.2M | $2.4M | $3.4M | $1.4M |
| Short-term Investments | 0 | 0 | $1.5M | 0 | 0 | $4.7M | $892316 | $3.4M | $27050 | $37380 |
| Receivables | $1.7M | $977408 | $25507 | $125045 | 0 | $28193 | $4.1M | $1.7M | $231187 | $48720 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $4.1M | $1.7M | $5.2M | $1.1M | $12.0M | 0 | 0 | 0 | $3.4M | $1.5M |
| Property, Plant & Equipment | $109938 | $69505 | $33818 | $268548 | $166838 | $77883 | $27.5M | $24.7M | $19.3M | $10.6M |
| Goodwill | 0 | 0 | 0 | $4.0M | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | $45210 | $21951 | 0 | 0 | 0 | 0 | 0 | $5.5M | $16.8M |
| Total Assets | $10.0M | $2.0M | $6.1M | $7.6M | $12.3M | $62.1M | $53.2M | $37.7M | $44.0M | $51.3M |
| Accounts Payable | $493691 | $477953 | $188354 | $210870 | $237033 | 0 | 0 | 0 | $989563 | 0 |
| Short-term Debt | 0 | $39028 | $42875 | $69540 | $96257 | $182690 | $566598 | $677970 | $557279 | $18.1M |
| Total Current Liabilities | $493691 | $1.0M | $231229 | $374645 | $436936 | $1.1M | 0 | 0 | $1.6M | $18.1M |
| Long-term Debt | $5.2M | $39028 | 0 | $3.5M | $185785 | 0 | 0 | 0 | $6.4M | $1.9M |
| Total Liabilities | $5.8M | $1.1M | $250919 | $4.8M | $849122 | $1.1M | $2.4M | $2.9M | $8.7M | $22.4M |
| Retained Earnings | -$2.4M | -$11.0M | -$11.5M | -$14.5M | -$18.5M | -$13.8M | -$43.0M | -$59.0M | -$65.7M | -$92.6M |
| Total Equity | $4.2M | $896983 | $5.8M | $2.8M | $11.5M | $60.8M | $49.2M | $36.2M | $37.0M | $30.6M |
| Total Debt | $5.2M | $78056 | $42875 | $3.8M | $453690 | $182690 | $745995 | $763745 | $7.7M | $20.6M |
| Net Debt | $2.9M | -$512338 | -$5.0M | $3.0M | -$11.1M | -$37.0M | -$4.4M | -$5.1M | $4.3M | $19.2M |
| Working Capital | $3.6M | $647160 | $5.0M | $718576 | $11.5M | -$1.1M | 0 | 0 | $1.8M | -$16.6M |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | -$2.4M | -$8.6M | -$472159 | -$3.0M | -$4.0M | $5.0M | -$27.9M | -$15.9M | -$7.7M | -$26.9M |
| Depreciation & Amortization | $72114 | $95447 | $68263 | $63760 | $11143 | $1383 | $478020 | $5.0M | $7.8M | $8.2M |
| Stock-based Compensation | $275380 | $29065 | $24770 | $8834 | $140389 | $2.8M | $17.7M | $2.9M | $519542 | 0 |
| Change in Working Capital | -$22315 | $373713 | -$413252 | $311125 | $649091 | -$80796 | $1.2M | -$1.4M | -$7.9M | -$7.3M |
| Operating Cash Flow | -$3.4M | -$1.8M | -$758317 | -$1.2M | -$3.5M | $3.5M | -$9.1M | -$3.4M | -$11.9M | -$14.0M |
| Capital Expenditure | -$267960 | -$8673 | 0 | -$14049 | -$1286 | -$18.2M | -$15.7M | -$1.6M | -$1.7M | -$2.2M |
| Acquisitions | 0 | 0 | 0 | $51327 | -$246914 | -$34.1M | -$3.4M | 0 | $78806 | -$4.2M |
| Stock Repurchased | 0 | 0 | -$1894 | 0 | 0 | 0 | 0 | -$106550 | 0 | -$8.0M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$3.6M | -$1.8M | -$758317 | -$1.2M | -$3.5M | -$14.7M | -$24.8M | -$5.0M | -$13.7M | -$16.2M |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | -9.6% | -19.0% | -28.5% | -46.3% | +983.9% | -54.2% | -3.6% | +77.7% | -20.1% | |
| Net Income Growth (YoY) | -264.0% | +94.5% | -536.4% | -34.5% | +217.8% | -714.4% | +45.5% | +54.1% | -268.0% | |
| EPS Growth (YoY) | -256.7% | +98.2% | -99.6% | -215.9% | +105.9% | -1623.9% | +47.9% | +62.6% | -25.7% | |
| Shares Change (YoY) | +1.8% | +196.7% | +219.4% | -57.5% | +1904.5% | -59.8% | +4.7% | +23.0% | +209.8% | |
| FCF Growth (YoY) | +49.8% | +58.3% | -54.9% | -200.1% | -317.7% | -68.4% | +79.7% | -171.9% | -18.4% | |
| Gross Margin | 87.1% | 48.0% | 86.2% | 103.6% | 134.2% | 101.5% | 23.1% | 100.0% | 36.4% | -146.1% |
| Operating Margin | -79.9% | -124.8% | -14.0% | -127.8% | -313.8% | 38.0% | -412.1% | -304.0% | -58.7% | -206.2% |
| EBITDA Margin | -78.3% | -122.5% | -12.0% | -125.2% | -312.9% | 38.0% | -404.6% | -223.5% | -3.0% | -201.1% |
| Net Margin | -51.5% | -207.2% | -14.0% | -124.7% | -312.4% | 33.9% | -455.6% | -257.6% | -66.5% | -306.2% |
| FCF Margin | -78.6% | -43.7% | -22.5% | -48.7% | -272.5% | -105.0% | -386.3% | -81.3% | -124.4% | -184.2% |
| Effective Tax Rate | 35.6% | -66.0% | -0.0% | -0.0% | -0.0% | 6.1% | -5.4% | -0.3% | -0.0% | -0.0% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $-1371.44 | $-676.77 | $-95.10 | $-46.12 | $-325.77 | $-67.89 | $-284.19 | $-55.06 | $-121.78 | $-46.54 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $2634 | $2688 | $7974 | $25435 | $10819 | $216572 | $87228 | $91353 | $112323 | $348015 |
What to look at in Financial Services
Asset managers, brokers, fintech, exchanges. They are not banks — look at AUM, fees and FCF quality.
- 5y revenue growth — Without growth, there is no long-term value creation
- Operating margin — Good asset managers have >30% margins thanks to scalability
- ROE — Quality financial services have a consistent ROE >15%
- FCF / Net Income — Earnings quality — >90% expected in capital-light businesses
- Debt / Equity — Fintech and brokers with high D/E are time bombs in crises
- P/E vs own 5y — Asset managers have stable multiples in well-known ranges
- Dividend yield + buybacks — These businesses return a lot of capital — look at total yield (div + buybacks)
Profitability
| Return on Equity | -123.36% |
| Return on Invested Capital | -393.53% |
| Return on Assets | -98.83% |
| Gross Margin | -25.40% |
| Operating Margin | -337.36% |
| Net Margin | -429.40% |
Financial Health
| Debt / Equity | 0.02 |
| Current Ratio | 0.58 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | -25.38 | -3.69 | -14.94 | -4.92 | -1.35 | 33.14 | -0.25 | -0.53 | -0.82 | -0.14 |
| P/B | 14.43 | 35.51 | 1.21 | 5.21 | 0.47 | 2.60 | 0.15 | 0.23 | 0.16 | 0.13 |
| P/S | 13.06 | 7.65 | 2.09 | 6.13 | 4.20 | 11.26 | 1.12 | 1.37 | 0.55 | 0.44 |
| Gross Margin | 87.1% | 48.0% | 86.2% | 103.6% | 134.2% | 101.5% | 23.1% | 100.0% | 36.4% | -146.1% |
| Operating Margin | -79.9% | -124.8% | -14.0% | -127.8% | -313.8% | 38.0% | -412.1% | -304.0% | -58.7% | -206.2% |
| Net Margin | -51.5% | -207.2% | -14.0% | -124.7% | -312.4% | 33.9% | -455.6% | -257.6% | -66.5% | -306.2% |
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