New Risk • May 18
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$20m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$20m free cash flow). Shareholders have been substantially diluted in the past year (216% increase in shares outstanding). Market cap is less than US$10m (US$3.74m market cap). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$20m net loss next year). Share price has been volatile over the past 3 months (14% average weekly change). Reported Earnings • May 18
First quarter 2026 earnings: EPS misses analyst expectations First quarter 2026 results: US$0.47 loss per share. Net loss: US$10.1m (loss widened 87% from 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 114%. Revenue is forecast to grow 1.6% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Software industry in the US. New Risk • May 17
New major risk - Revenue and earnings growth Earnings have declined by 30% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 30% per year over the past 5 years. Shareholders have been substantially diluted in the past year (216% increase in shares outstanding). Market cap is less than US$10m (US$3.74m market cap). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$20m net loss next year). Share price has been volatile over the past 3 months (14% average weekly change). Announcement • May 13
LM Funding America, Inc. to Report Q1, 2026 Results on May 15, 2026 LM Funding America, Inc. announced that they will report Q1, 2026 results at 9:30 AM, US Eastern Standard Time on May 15, 2026 Announcement • Apr 17
LM Funding America, Inc., Annual General Meeting, Jun 16, 2026 LM Funding America, Inc., Annual General Meeting, Jun 16, 2026. Location: 1200 west platt street, suite 100 tampa, florida 33606., United States Major Estimate Revision • Apr 07
Consensus revenue estimates decrease by 31%, EPS upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from US$11.4m to US$7.90m. EPS estimate increased from -US$1.30 to -US$0.90 per share. Software industry in the US expected to see average net income growth of 24% next year. Consensus price target down from US$4.00 to US$1.00. Share price was steady at US$0.25 over the past week. Announcement • Mar 28
LM Funding America, Inc. has filed a Follow-on Equity Offering in the amount of $75 million. LM Funding America, Inc. has filed a Follow-on Equity Offering in the amount of $75 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Announcement • Mar 24
LM Funding America, Inc. to Report Q4, 2025 Results on Mar 27, 2026 LM Funding America, Inc. announced that they will report Q4, 2025 results Pre-Market on Mar 27, 2026 New Risk • Mar 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings are forecast to decline by an average of 12% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (175% increase in shares outstanding). Market cap is less than US$10m (US$4.67m market cap). Minor Risk Currently unprofitable and not forecast to become profitable next year (US$15m net loss next year). Price Target Changed • Mar 11
Price target decreased by 16% to US$4.00 Down from US$4.75, the current price target is provided by 1 analyst. New target price is 857% above last closing price of US$0.42. Stock is down 69% over the past year. The company is forecast to post a net loss per share of US$1.71 next year compared to a net loss per share of US$5.02 last year. Announcement • Jan 10
LM Funding America Receives Non-Compliance Notice from Nasdaq On January 7, 2026, LM Funding America, Inc. (the “Company”) received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company’s consolidated closing bid price has been below $1.00 per share for 35 consecutive business days as of January 6, 2026, and that, therefore, the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2), which is the minimum bid price requirement for continued listing on The Nasdaq Capital Market. The notice does not result in the immediate delisting of the Company’s common stock from The Nasdaq Capital Market. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has automatically been afforded a 180-calendar day grace period, or until July 6, 2026, to regain compliance. The continued listing standard will be met if the consolidated closing bid price of the Company’s common stock is at least $1.00 per share for a minimum of ten consecutive business days during the 180-calendar day grace period. If the Company is not in compliance by July 6, 2026, the Company may be afforded a second 180-calendar day period to regain compliance. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, except for the minimum bid price requirement. In addition, the Company would be required to notify Nasdaq of its intention to cure the minimum bid price deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company does not regain compliance within the allotted 180-day compliance period and is not eligible for a second 180-day compliance period, the Company’s common stock would be subject to delisting unless it requested a hearing before an independent Nasdaq Hearings Panel. A request for a hearing would stay any suspension or delisting action pending the hearing and any additional extension period granted by the Panel. The Company intends to monitor the closing bid price of the Company’s common stock and consider its available options to resolve the non-compliance with the minimum bid price requirement. The Company’s receipt of the notice does not affect the Company’s business, operations or reporting requirements with the Securities and Exchange Commission. However, there can be no assurance that the Company will be able to regain compliance with the minimum bid price requirement or will otherwise be in compliance with other Nasdaq listing criteria. New Risk • Nov 19
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$18m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (259% increase in shares outstanding). Market cap is less than US$10m (US$9.93m market cap). Minor Risk Currently unprofitable and not forecast to become profitable next year (US$14m net loss next year). Reported Earnings • Nov 16
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: US$0.41 loss per share (improved from US$2.41 loss in 3Q 2024). Net loss: US$4.08m (loss narrowed 36% from 3Q 2024). Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 3.8%. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Announcement • Nov 06
LM Funding America, Inc. to Report Q3, 2025 Results on Nov 14, 2025 LM Funding America, Inc. announced that they will report Q3, 2025 results Pre-Market on Nov 14, 2025 Announcement • Nov 03
LM Funding America, Inc. (NasdaqCM:LMFA) announces an Equity Buyback for $1.5 million worth of its shares. PharmaCyte Biotech, Inc. (NasdaqCM:PMCB) announces a share repurchase program. Under the program, the company will repurchase up to $1.5 million worth of its shares. The repurchases will be funded from company's existing cash balances and borrowings under credit facilities. The program will be valid till September 30, 2026. Announcement • Sep 18
LM Funding America, Inc. (NasdaqCM:LMFA) acquired 11 MW Bitcoin Mining Site in Mississippi from Greenidge Generation Holdings Inc. (NasdaqGS:GREE) for $3.9 million. LM Funding America, Inc. (NasdaqCM:LMFA) agreed to acquire 11 MW Bitcoin Mining Site in Mississippi from Greenidge Generation Holdings Inc. (NasdaqGS:GREE) for $3.9 million on August 1, 2025. As part of the acquisition, a cash consideration of $3.9 million or about $355,000 per MW will be paid by LM Funding America, Inc and includes the real property and onsite power infrastructure including a 3,000 kVA transformer relocated to the parcel, with 7.5 MW operational.
The transaction is subject to customary due diligence and other conditions and is expected to close on or before September 16, 2025.
LM Funding America, Inc. (NasdaqCM:LMFA) completed the acquisition of 11 MW Bitcoin Mining Site in Mississippi from Greenidge Generation Holdings Inc. (NasdaqGS:GREE) on September 16, 2025. Announcement • Sep 09
LM Funding America, Inc., Annual General Meeting, Oct 14, 2025 LM Funding America, Inc., Annual General Meeting, Oct 14, 2025. Location: 1200 west platt street, suite 100, florida 33606, tampa United States Major Estimate Revision • Aug 27
Consensus estimates of losses per share improve by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from US$8.90m to US$9.30m. EPS estimate increased from -US$1.84 per share to -US$1.62 per share. Software industry in the US expected to see average net income growth of 24% next year. Consensus price target down from US$4.75 to US$4.50. Share price fell 6.6% to US$1.27 over the past week. Major Estimate Revision • Aug 21
Consensus estimates of losses per share improve by 33% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from US$8.80m to US$8.90m. EPS estimate increased from -US$2.73 per share to -US$1.84 per share. Software industry in the US expected to see average net income growth of 25% next year. Consensus price target of US$4.75 unchanged from last update. Share price fell 45% to US$1.33 over the past week. Announcement • Aug 20
LM Funding America, Inc. has filed a Follow-on Equity Offering in the amount of $12.608351 million. LM Funding America, Inc. has filed a Follow-on Equity Offering in the amount of $12.608351 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 5,231,681
Price\Range: $2.41
Discount Per Security: $0.13255
Transaction Features: Registered Direct Offering Announcement • Aug 19
LM Funding America, Inc. announced that it has received $10.416659 million in funding LM Funding America, Inc. announced that it has entered into a securities purchase agreement with institutional investors pursuant to which the company agreed to issue to the Purchasers, in a private placement , 4,322,265 shares of the Company’s common stock, par value $0.001 per share at an issue price of $2.14 per share for gross proceeds of $10,416,658.65 and 4,322,265 warrants to purchase shares of Common Stock at an exercise price of $2.41 per share on August 18, 2025. The Company received aggregate gross proceeds from the PIPE Offering of approximately $10.4 million, before deducting fees to the Placement Agent (as defined below) and other estimated offering expenses payable by the Company. The Securities Purchase Agreement provides that, subject to certain exceptions, until 45 days after the later of the Stockholder Approval Date and the effectiveness of the registration statement, neither the Company nor any of its subsidiaries will issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or Common Stock equivalents. The Securities Purchase Agreement further provides, subject to certain exceptions, including an at-the-market offering with the placement agent, until six months after the later of the Stockholder Approval Date and the effectiveness of the registration statement, neither the Company nor any of its subsidiaries will enter into a variable rate transaction (as defined in the Securities Purchase Agreement). The Securities Purchase Agreement also provides that the investors in the PIPE Offering have a right of participation in future equity or equity linked offerings by the Company for two years following the closing date. The Shares and Common Warrants were issued in a private placement and have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and are instead being offered pursuant to the exemption provided in Section 4(a)(2) under the Securities Act and/or Rule 506(b) promulgated thereunder. In connection with the PIPE Offering, .The Company will pay the Placement Agent a cash fee equal to 5.5% of the aggregate gross proceeds raised in the PIPE Offering, will reimburse the Placement Agent for certain of its expenses in an aggregate amount up to $10,000 and will issue to the Placement Agent 216,113 shares of Common Stock. The Placement Agency Agreement contains customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the Company, including for liabilities under the Securities Act, other obligations of the parties, and termination provisions. The securities issued in the PIPE Offering and the Placement Common Warrants and the shares of Common Stock issued to the Placement Agent will not be registered under the Securities Act, in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder. Reported Earnings • Aug 15
Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2025 results: EPS: US$0.02 (up from US$2.44 loss in 2Q 2024). Net income: US$100.6k (up US$6.17m from 2Q 2024). Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings. New Risk • Aug 06
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.65m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$13m free cash flow). Share price has been highly volatile over the past 3 months (28% average weekly change). Shareholders have been substantially diluted in the past year (106% increase in shares outstanding). Market cap is less than US$10m (US$9.65m market cap). Minor Risk Currently unprofitable and not forecast to become profitable next year (US$13m net loss next year). Announcement • Aug 05
LM Funding America, Inc. to Report Q2, 2025 Results on Aug 14, 2025 LM Funding America, Inc. announced that they will report Q2, 2025 results Pre-Market on Aug 14, 2025 New Risk • Jul 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$13m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Shareholders have been substantially diluted in the past year (106% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$13m net loss next year). Market cap is less than US$100m (US$14.1m market cap). Reported Earnings • May 16
First quarter 2025 earnings released First quarter 2025 results: Net income: (down US$1.49m from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. New Risk • May 16
New major risk - Revenue and earnings growth Earnings have declined by 37% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$14m free cash flow). Earnings have declined by 37% per year over the past 5 years. Shareholders have been substantially diluted in the past year (106% increase in shares outstanding). Market cap is less than US$10m (US$8.11m market cap). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$13m net loss next year). Share price has been volatile over the past 3 months (14% average weekly change). Announcement • May 01
LM Funding America, Inc. to Report Q1, 2025 Results on May 15, 2025 LM Funding America, Inc. announced that they will report Q1, 2025 results on May 15, 2025 Major Estimate Revision • Apr 07
Consensus estimates of losses per share improve by 44% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from US$10.1m to US$10.5m. EPS estimate increased from -US$5.31 per share to -US$2.97 per share. Software industry in the US expected to see average net income growth of 19% next year. Consensus price target down from US$6.00 to US$4.50. Share price fell 8.1% to US$1.14 over the past week. Reported Earnings • Apr 01
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: US$0.18 loss per share (improved from US$6.98 loss in FY 2023). Revenue: US$10.6m (down 19% from FY 2023). Net loss: US$520.5k (loss narrowed 97% from FY 2023). Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) also surpassed analyst estimates by 7.6%. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 58% per year, which means it is significantly lagging earnings. Announcement • Mar 25
LM Funding America, Inc. to Report Q4, 2024 Results on Mar 31, 2025 LM Funding America, Inc. announced that they will report Q4, 2024 results on Mar 31, 2025 New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 39% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$8.6m free cash flow). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Market cap is less than US$10m (US$6.56m market cap). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$16m net loss next year). Share price has been volatile over the past 3 months (14% average weekly change). Announcement • Dec 10
LM Funding America, Inc. (NasdaqCM:LMFA) completed the acquisition of 15 MW mining site in Oklahoma from Tech Infrastructure JV I LLC for $7.3 million. LM Funding America, Inc. (NasdaqCM:LMFA) agreed to acquire 15 MW mining site in Oklahoma from Tech Infrastructure JV I LLC for $7.3 million on November 14, 2024.The expected completion of the transaction is December 1, 2024 to December 31, 2024.
LM Funding America, Inc. (NasdaqCM:LMFA) completed the acquisition of 15 MW mining site in Oklahoma from Tech Infrastructure JV I LLC on December 9, 2024. Major Estimate Revision • Nov 20
Consensus revenue estimates decrease by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$11.8m to US$10.5m. EPS estimate unchanged from -US$5.43 per share at last update. Software industry in the US expected to see average net income growth of 18% next year. Consensus price target of US$6.00 unchanged from last update. Share price fell 4.8% to US$2.80 over the past week. Reported Earnings • Nov 15
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: US$2.41 loss per share (further deteriorated from US$1.97 loss in 3Q 2023). Revenue: US$1.13m (down 67% from 3Q 2023). Net loss: US$6.40m (loss widened 45% from 3Q 2023). Revenue missed analyst estimates by 30%. Earnings per share (EPS) also missed analyst estimates by 2.3%. Revenue is expected to decline by 11% p.a. on average during the next 2 years, while revenues in the Software industry in the US are expected to grow by 12%. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has fallen by 59% per year, which means it is performing significantly worse than earnings. Announcement • Sep 30
LM Funding America, Inc., Annual General Meeting, Nov 08, 2024 LM Funding America, Inc., Annual General Meeting, Nov 08, 2024. Location: 1200 west platt street, suite 100, florida 33606., tampa United States Announcement • Aug 17
LM Funding America, Inc. has filed a Follow-on Equity Offering. LM Funding America, Inc. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 278,000
Price\Range: $2.93
Security Name: Pre-Funded Warrants
Security Type: Equity Warrant
Securities Offered: 605,000
Transaction Features: Registered Direct Offering Reported Earnings • Aug 15
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: US$2.44 loss per share (further deteriorated from US$2.07 loss in 2Q 2023). Revenue: US$2.97m (down 6.9% from 2Q 2023). Net loss: US$6.07m (loss widened 34% from 2Q 2023). Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) also missed analyst estimates by 187%. Revenue is expected to decline by 24% p.a. on average during the next 2 years, while revenues in the Software industry in the US are expected to grow by 12%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 20 percentage points per year, which is a significant difference in performance. Reported Earnings • May 17
First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2024 results: EPS: US$0.61 (up from US$2.47 loss in 1Q 2023). Revenue: US$4.68m (up 102% from 1Q 2023). Net income: US$1.49m (up US$6.88m from 1Q 2023). Profit margin: 32% (up from net loss in 1Q 2023). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 31 percentage points per year, which is a significant difference in performance. Announcement • Apr 30
LM Funding America, Inc. Announces the Appointment of Marty Traber to Its Board of Directors LM Funding America, Inc. announced the appointment of Marty Traber to the Company’s Board of Directors. Mr. Traber, who previously served as a director for the Company from 2015-2021, replaces Todd Zhang, who is retiring from the board. Mr. Traber is currently the Chairman of the Skyway Capital Markets Group, where he oversees the organization’s strategic planning and growth, building on more than 40 years of experience in securities law and corporate finance. He is also a former partner of the international law firm of Foley & Lardner LLP, in Tampa, Florida, where he served in the firm’s Transactional & Securities and Private Equity & Venture Capital practices and was a member of its Technology Industry team. He is a founder of HCI Group, Inc., a New York Stock Exchange-listed company headquartered in Tampa that engages in various business activities, including homeowners’ insurance, reinsurance, real estate, and information technology where he also served on Its board from 2006 – 2018. From 2012 to 2013, he also served on the Board of Directors of Exeter Trust Company, Portsmouth, New Hampshire. He also joined the Board of Directors for Mad Mobile in March 2019. A founder of NorthStar Banking Corporation in Tampa, he served as a member of the Board of Directors of the bank holding company from 2007 to 2011. From 2009 to 2014, Mr. Traber served on the Board of Directors of JHS Capital Holdings, Tampa, and from 2010 to 2016, he served on the Advisory Board of Platinum Bank, Tampa. He has also advised a number of community banks from formation through ongoing operations and, in some cases, acquisition. In 2017, he was appointed to the Advisory Board of Retail Service Systems, LLC, Columbus, Ohio. Mr. Traber holds a Bachelor of Arts degree from Indiana University and a Juris Doctor degree from the Indiana School of Law, Indiana University, where he graduated magna cum laude and first in his class. New Risk • Apr 02
New major risk - Revenue and earnings growth Earnings have declined by 55% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$3.6m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 55% per year over the past 5 years. Market cap is less than US$10m (US$8.38m market cap). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$14m net loss next year). Shareholders have been diluted in the past year (12% increase in shares outstanding). Reported Earnings • Apr 02
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: US$6.98 loss per share (improved from US$13.41 loss in FY 2022). Revenue: US$13.0m (up US$11.3m from FY 2022). Net loss: US$15.9m (loss narrowed 46% from FY 2022). Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) also surpassed analyst estimates by 9.1%. Over the last 3 years on average, earnings per share has fallen by 62% per year whereas the company’s share price has fallen by 58% per year. Announcement • Mar 28
LM Funding America, Inc. Regains Compliance with Nasdaq Continued Listing Requirements LM Funding America, Inc. ("LM Funding" or the “Company") announced that the Company received notice from Nasdaq on March 26, 2024, indicating that LM Funding had regained compliance with the minimum bid price requirement under Nasdaq Rule 5550(a)(2). Bruce M. Rodgers, Chairman and CEO of LM Funding, commented, “We are pleased to have regained compliance with the continued listing requirements of Nasdaq. The preservation of our Nasdaq listing is paramount to the Company, given the credibility and exposure it offers. As our business progresses and gains momentum, we believe our listing is vital to our mission of enhancing shareholder value and strategically aligning the Company for ongoing success". Announcement • Mar 09
LM Funding Announces 1-for-6 Reverse Stock Split to Ensure Compliance with Nasdaq Continued Listing Requirements LM Funding America, Inc. (‘LM Funding’) announced a 1-for-6 reverse stock split of its outstanding common stock, effective at 12:01 a.m. Eastern time on March 12, 2024. Beginning March 12, 2024, LM Funding’s common stock will trade on a split-adjusted basis. Bruce M. Rodgers, Chairman and Chief Executive Officer of LM Funding, stated, ‘We believe that our business fundamentals are currently strong and that we continue to make good progress, as evidenced by our 1700% year-over-year revenue growth in the third quarter of 2023. Notably, as previously reported, the stockholders’ equity of LM Funding was $35.9 million, or $2.45 per share (or $14.70 per share after giving effect to the reverse split announced today), as of September 30, 2023, and yet our current share price remains below the Nasdaq minimum bid price requirement of $1.00. We believe this share consolidation will not only ensure we meet the continued listing requirements, but also help us to attract a broader universe of investors, including institutional investors and retail brokers that encounter share price restrictions. Importantly, the pro-rata ownership of each shareholder will remain unchanged as a result of the reverse split, and we believe this share consolidation will tighten our public float and enhance our capital structure as we continue to execute on our business model.’ At LM Funding’s Annual Meeting of Shareholders (the ‘Annual Meeting’) held on November 9, 2023, the Company’s shareholders approved a proposal to amend the Company’s Certificate of Incorporation to effect a reverse stock split of its common stock at a ratio within the range of one-for-two (1:2) to one-for-ten (1:10), as determined by the Company’s Board of Directors. On February 23, 2024, the Board of Directors adopted a resolution approving and authorizing a 1-for-6 reverse split, and on March 7, 2024, LM Funding filed a Certificate of Amendment to its Certificate of Incorporation to effect the reverse stock split effective as of March 12, 2024. There will be no change to the total number of authorized shares of LM Funding Common Stock as set forth in the Certificate of Incorporation of the Company, as amended. Upon the effectiveness of the reverse stock split, every 6 shares of LM Funding’s issued and outstanding common stock will automatically be converted into one share of common stock. No fractional shares will be issued. Any fraction of a share of common stock that would be created as a result of the reverse stock split be rounded up to the next whole share. Board Change • Feb 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Independent Director Todd Zhang was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 29
Mint Capital Advisor Provides Information to Shareholders of LM Funding America On November 27, 2023, Mint Capital Advisor Ltd. announced that while the group was formed with the intent of nominating directors to LM Funding America, Inc.’s Board at the annual meeting, Mint Capital Advisors has decided not to pursue the nomination. Mint Capital Advisors added that it intends to continue to work independently to drive stockholder value at the Company. Reported Earnings • Nov 17
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: US$0.33 loss per share (improved from US$0.51 loss in 3Q 2022). Net loss: US$4.42m (loss narrowed 34% from 3Q 2022). Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 27%. Revenue is expected to decline by 27% p.a. on average during the next 3 years, while revenues in the Diversified Financial industry in the US are expected to grow by 5.4%. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has fallen by 53% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Oct 25
Consensus revenue estimates fall by 18% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$14.9m to US$12.2m. Forecast losses increased from -US$1.66 to -US$1.89 per share. Diversified Financial industry in the US expected to see average net income growth of 16% next year. Consensus price target down from US$2.00 to US$1.00. Share price was steady at US$0.44 over the past week. New Risk • Oct 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 9.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$14m free cash flow). Market cap is less than US$10m (US$6.82m market cap). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$23m net loss in 2 years). Share price has been volatile over the past 3 months (9.7% average weekly change). Shareholders have been diluted in the past year (12% increase in shares outstanding). Announcement • Oct 14
Nasdaq Grants LM Funding America An Additional 180 Calendar Days, or Until April 8, 2024, To Regain Compliance With Nasdaq Listing Rule As previously reported, on April 14, 2023, LM Funding America, Inc. (the “Company”) received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company’s consolidated closing bid price has been below $1.00 per share for 30 consecutive business days as of April 13, 2023, and that, therefore, the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2), which is the minimum bid price requirement for continued listing on The Nasdaq Capital Market. In accordance with Nasdaq’s listing rules, the Company was afforded 180 days, or until October 11, 2023, to regain compliance. The Company was unable to regain compliance with the bid price requirement by October 11, 2023. However, on October 12, 2023, the Company received a notice from Nasdaq granting the Company an additional 180 calendar days, or until April 8, 2024, to regain compliance with the minimum $1.00 bid price per share requirement for continued listing on the Nasdaq Capital Market. Nasdaq determined that the Company is eligible for the second compliance period due to the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the Nasdaq Capital Market, with the exception of the bid price requirement, and the Company’s written notice of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. To regain compliance during the additional time period, the closing bid price of the Company’s security must be at least $1.00 per share for a minimum of ten (10) consecutive business days. If the Company does not regain compliance within the allotted additional 180-day compliance period, the Company’s common stock would be subject to delisting unless it requested a hearing before an independent Nasdaq Hearings Panel. A request for a hearing would stay any suspension or delisting action pending the hearing and any additional extension period granted by the Panel. The Company intends to monitor the closing bid price of the Company’s common stock and consider its available options to resolve the non-compliance with the minimum bid price requirement. The Company’s receipt of the notice does not affect the Company’s business, operations or reporting requirements with the Securities and Exchange Commission. However, there can be no assurance that the Company will be able to regain compliance with the minimum bid price requirement or will otherwise be in compliance with other Nasdaq listing criteria. Announcement • Sep 26
LM Funding America, Inc., Annual General Meeting, Nov 09, 2023 LM Funding America, Inc., Annual General Meeting, Nov 09, 2023, at 15:00 Eastern Standard Time. Location: 1200 West Platt Street, Suite 100 Tampa Florida United States Agenda: To elect two Class I directors to hold office for a three-year term ending at the third annual meeting of stockholders following their election; To ratify the appointment of MaloneBailey, LLP as the Companys independent auditor to audit the Companys 2023 financial statements; ; and to discuss other matters. Major Estimate Revision • Aug 21
Consensus EPS estimates fall by 26% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$15.2m to US$14.9m. Losses expected to increase from US$1.32 per share to US$1.66. Diversified Financial industry in the US expected to see average net income growth of 16% next year. Consensus price target of US$2.00 unchanged from last update. Share price fell 7.6% to US$0.58 over the past week. Reported Earnings • Aug 14
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: US$0.34 loss per share (down from US$0.22 profit in 2Q 2022). Net loss: US$4.55m (down 260% from profit in 2Q 2022). Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to stay flat during the next 3 years compared to a 5.6% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. New Risk • Jul 29
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.82m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$18m free cash flow). Share price has been highly volatile over the past 3 months (15% average weekly change). Market cap is less than US$10m (US$9.82m market cap). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$21m net loss in 2 years). Shareholders have been diluted in the past year (12% increase in shares outstanding). Revenue is less than US$5m (US$3.8m revenue). New Risk • Jul 13
New major risk - Revenue and earnings growth Earnings have declined by 33% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$18m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 33% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (12% increase in shares outstanding). Revenue is less than US$5m (US$3.8m revenue). Market cap is less than US$100m (US$10.8m market cap). Announcement • May 25
LM Funding America, Inc. (NasdaqCM:LMFA) made a stalking horse bid to acquire assets of Symbiont.io, Inc. for $2.6 million. LM Funding America, Inc. (NasdaqCM:LMFA) made a stalking horse bid to acquire assets of Symbiont.io, Inc. for $2.6 million on May 23, 2023. The transaction is subject to bankruptcy court. Reported Earnings • May 18
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: US$0.41 loss per share (improved from US$0.44 loss in 1Q 2022). Net loss: US$5.39m (loss narrowed 6.0% from 1Q 2022). Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 6.8%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 47% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 05
Consensus revenue estimates increase by 25% The consensus outlook for revenues in fiscal year 2023 has improved. 2023 revenue forecast increased from US$10.9m to US$13.6m. Forecast losses expected to reduce from -US$1.70 to -US$1.53 per share. Diversified Financial industry in the US expected to see average net income growth of 1.0% next year. Consensus price target of US$2.00 unchanged from last update. Share price rose 8.7% to US$0.79 over the past week. Price Target Changed • Feb 14
Price target decreased by 33% to US$2.00 Down from US$3.00, the current price target is provided by 1 analyst. New target price is 110% above last closing price of US$0.95. Stock is down 74% over the past year. The company is forecast to post a net loss per share of US$0.92 compared to earnings per share of US$0.70 last year. Announcement • Jan 05
Lm Funding America, Inc. Announces Executive Appointments LM Funding America, Inc. appointed Andrew L. Graham, Frederick Mills and Frank Silcox as Class III directors. Reported Earnings • May 18
First quarter 2022 earnings released: US$0.44 loss per share (vs US$0.87 profit in 1Q 2021) First quarter 2022 results: US$0.44 loss per share (down from US$0.87 profit in 1Q 2021). Net loss: US$5.73m (down 231% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorated over the past week After last week's 29% share price decline to US$1.63, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 8x in the Diversified Financial industry in the US. Total loss to shareholders of 75% over the past three years. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Director Frank Silcox was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment deteriorated over the past week After last week's 19% share price decline to US$2.43, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 8x in the Diversified Financial industry in the US. Total loss to shareholders of 65% over the past three years. Reported Earnings • Apr 02
Full year 2021 earnings released: EPS: US$0.70 (vs US$2.50 loss in FY 2020) Full year 2021 results: EPS: US$0.70 (up from US$2.50 loss in FY 2020). Net income: US$4.76m (up US$8.82m from FY 2020). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Board Change • Mar 31
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Director Frank Silcox was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 
