LM Funding America, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 04:11 pm EST
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LM Funding America, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 0.0345 million compared to USD 0.040788 million a year ago. Revenue was USD 3.42 million compared to USD 0.18778 million a year ago. Net loss was USD 4.42 million compared to USD 6.66 million a year ago. Basic loss per share from continuing operations was USD 1.98 compared to USD 3.06 a year ago. Diluted loss per share from continuing operations was USD 1.98 compared to USD 3.06 a year ago.
For the nine months, sales was USD 0.111486 million compared to USD 0.12024 million a year ago. Revenue was USD 8.93 million compared to USD 0.613317 million a year ago. Net loss was USD 14.35 million compared to USD 9.55 million a year ago. Basic loss per share from continuing operations was USD 6.48 compared to USD 4.38 a year ago. Diluted loss per share from continuing operations was USD 6.48 compared to USD 4.38 a year ago.
LM Funding America, Inc. together with its subsidiaries, is a cryptocurrency mining and technology-based specialty finance company. Its segments include Specialty Finance and Mining Operations. It offers funding to nonprofit community associations (Associations) primarily located in the state of Florida. It provides incorporated nonprofit community associations. Its original product offering consists of providing funding to Associations by purchasing their rights under delinquent accounts that are selected by the Associations arising from unpaid Association assessments. In addition to its original product offering, the Company also purchase accounts on varying terms to suit each Associationâs financial needs, including under its New Neighbor Guaranty program. Under New Neighbor Guaranty program, an Association assigns substantially all of its outstanding indebtedness and accruals on its delinquent units to the Company in exchange for payment of monthly dues on each delinquent unit.
LM FUNDING AMERICA, INC. 
