Lm Funding America, Inc. · NASDAQ:LMFA
Lm Funding America — Q4 2025 Earnings Presentation
19 slides from Lm Funding America's earnings presentation, Mar 27, 2026
Slide 1: Fourth Quarter & Full Year 2025 Earnings Presentation
An emerging leader in Bitcoin mining Fourth Quarter & Full Year 2025 Earnings Presentation Nasdaq: LMFA
Slide 2: Forward-Looking Statements
Forward -Looking Statements This presentation may contain forward -looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and “project” and other similar words and expressions are intend
Slide 3: Timeline: Q4'25 & Recent
Timeline: Q4’25 & Recent 0.56 EH/s 0.48 EH/s 0.70 EH/s 0.75 EH/s 0.78 0.75 EH/s EH/s 160.2 BTC 155.5 BTC 304.5 BTC 356.4 BTC 354.7 356.2 BTC BTC $13.2M $16.7M $34.7M $31.2M $23.8M $31.2M Q1’25 Q2’25 Q3’25 Q4’25 Feb ’26 • 0.56 EH/s energized • Exited third -party • Mississippi acquisition • Mississip
Slide 4: 2025: A Transformational Year
2025: A Transformational Year Operational & Treasury Growth • Scaled to a multi -site, vertically integrated platform — 26 MW across Oklahoma and Mississippi, ~750 PH/s at year -end • Bitcoin treasury more than doubled, growing from ~150 to ~356 BTC through mining production and disciplined accumula
Slide 5: Operational Highlights
Operational Highlights Q4 2025 • Mined 22.0 BTC (+25% QoQ); ~0.75 EH/s energized hashrate at year -end • Generated ~$133,000 in curtailment and energy sales Recent Highlights • Mississippi site integration completed, adding 7.5 MW and ~220 PH/s; October production up 27% MoM • Immersion program laun
Slide 6: Q4'25 Financials & Recent Activity
Q4’25 Financials & Recent Activity Revenue Q4 2025 • Total revenue of $2.4M, up 8.7% sequentially with $2.2M of Bitcoin mining revenue, up 9.1% sequentially, driven by higher Bitcoin production and partially offset by a lower average Bitcoin price $ 2.4 M $ 2.2 M • Mining margin of 25.0%, compared w
Slide 7: FY'25 Financials
FY’ 25 Financials Revenue $ 13.0M $ 11.0M FY’25 $ 8.8 M • Total revenue of $8.8M with $8.3M of Bitcoin mining revenue, mined approximately 82.3 Bitcoin during the year. 2023 2024 2025 • Mining margin of 38.0%, up from 33.0% in 2024, driven by improved mining efficiency and energy sales. Core EBITDA
Slide 8: Balance Sheet
Balance Sheet All amounts as of 12/31/25 $1.4M Cash $31.2M 1 BTC Treasury All amounts as of 2/28/26 BTC Treasury 2 BTC per Share 3 354.7 BTC $23.8M $1.11 Prepaid Expenses and $23.5M Total Current $1.2M Other Assets Assets $7.9M Market Long Term Total Current Cap 4 $2.5M Liabilities $19.9M Liabilitie
Slide 9: Differentiated Strategy
Differentiated Strategy • Disciplined, per -share focused growth • M&A targeting 5 – 20 MW sites • Vertically integrated • Power monetization strategy • BTC treasury = $23.8M 1 11 MW site in Mississippi 1 Bitcoin treasury of 354.7 BTC valued at $23.8M as of 2/28/26 at a price of approximately $67,00
Slide 10: Financials
An emerging leader in Bitcoin mining & specialty finance Financials LMFundingIR@orangegroupadvisors.com
Slide 11: Overview
Overview Total Q4’ 25 Hashrate BTC Mined Revenue 0.78 EH/s 1 22.0 BTC $ 2.4 M $ 2.4 M $ 2.2 M Q4’25 Q4’25 Mining $ 1.9M Revenue 2 Margin $2.4M 25.0% BTC Treasury 3 BTC per Share 4 354.7 BTC $23.8M $1.11 Q1'25 Q2'25 Q3'25 Q4'25 1 Energized as of 2/28/26 2 Includes $0.2M specialty finance and rental r
Slide 12: Balance Sheet
Balance Sheet BTC holdings of 356 valued at $31.2 million (as of 12/31/25) 12
Slide 13: Income Statement
Income Statement Three Months ended December 31, Year ended December 31, 2025 2024 2025 2024 Revenues: Digital mining revenues $ 2,192,715 $ 1,814,169 $ 8,283,423 $ 10,432,605 Specialty finance revenue 148,508 140,377 452,476 443,599 Rental revenue 25,546 30,678 108,834 123,444 Total revenues 2,366,
Slide 14: Cash Flow
CASH FLOWS FROM OPERATING ACTIVITIES: Net loss ‘Adjustments to reconcile net loss to net cash used in operating activities Depreciation and amortization Noneash lease expense Amortization of debt issue costs and debt discount Stock compensation Stock option expense Professional fees paid in common s
Slide 15: Core EBITDA (Non-GAAP)
Core EBITDA (Non -GAAP) Non -GAAP Financial Measures Our reported results are presented in accordance with U.S. generally accepted accounting principles (“GAAP”). We also disclos e E arnings before Interest, Tax, Depreciation and Amortization ("EBITDA") and Core Earnings before Interest, Tax, Deprec
Slide 16: Bitcoin and Hashrate
Bitcoin and Hashrate 354.7 BTC as of 2/28/26 Active Machines - 2024 Active Machines - 2025 Active Machines - 2026 • Q1 – 5,949 / 615 PH • Q1 – 5,617 / 612 PH • Q1 – 6,954 / 782 PH • Q2 – 4,548 / 506 PH • Q2 – 5,560 / 606 PH • Q3 – 3,723 / 423 PH • Q3 – 6,650 / 700 PH • Q4 – 3,681 / 419 PH • Q4 - 6,8
Slide 17: Mining Metrics
‘Cost of Revenues - Analysis of costs to mine one Bitcoin (per Bitcoin amounts are actual) Bitooin Mined Digital mining revenues Average revenue of cach Bitcoin mined (1) Digital mining cost of revenues and curtailment and energy sales Miner related depreciation (2) Direct costs to mine including no
Slide 18: Timeline: Q4'25 & Recent
Timeline: Q4’25 & Recent 400 0.9 356.4 354.7 350 0.7 0.8 0.75 0.78 0.7 300 0.56 0.48 304.5 0.6 250 0.5 200 0.4 0.3 150 160.2 155.5 0.2 100 0.1 50 0 Q1'25 Q2'25 Q3'25 Q4'25 Feb'26 BTC Holdings Energized Hashrate • 0.56 EH/s energized • Exited third -party • Mississippi acquisition • Mississippi integ
Slide 19: Thank You
An emerging leader in Bitcoin mining & specialty finance Thank You LMFundingIR@orangegroupadvisors.com