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Edge20 Mar 2026
Tetra Pak: The Shape of Innovation
The story of Tetra Pak, the Rausing family, and how a paper tetrahedron gave rise to a company that now delivers almost 180 billion packages a year.
LM Funding America
LM Funding America (LMFA) investor relations material
LM Funding America Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary27 Mar, 2026
Executive summary
2025 marked a transformation to a multi-site, vertically integrated miner with 26 MW capacity across Oklahoma and Mississippi, ending the year with 356 BTC in treasury and a record energized hashrate of 782 PH/s by February 2026.
Significant treasury growth, operational scaling, and strategic share repurchases enhanced Bitcoin per share and simplified the capital structure.
Q4 2025 revenue reached $2.4 million, up 8.7% sequentially and 19% year-over-year, driven by higher Bitcoin production despite lower average Bitcoin prices.
Net loss for Q4 2025 was $17.9 million, primarily due to non-cash Bitcoin fair value impacts, equipment impairment, and higher operating expenses.
Focus for 2026 is on scaling, efficiency, and increasing Bitcoin per share, with immersion cooling expansion and ongoing M&A evaluation.
Financial highlights
Q4 2025 revenue was $2.4 million, with $2.2 million from Bitcoin mining; mining margin declined to 25% from 49% in Q3 due to lower Bitcoin prices.
Full year 2025 revenue totaled $8.8 million, with $8.3 million from mining; mining margin improved to 38% from 33% in 2024.
Q4 net loss was $17.9 million and core EBITDA loss was $9.3 million, impacted by $7.8 million unrealized Bitcoin loss, $5.4 million equipment impairment, and Mississippi integration costs.
Full year 2025 net loss was $27 million and core EBITDA loss was $10.9 million, reflecting a reversal from a $7.4 million gain in Bitcoin FMV in 2024 to a $4.8 million loss in 2025.
Bitcoin holdings grew from 150 BTC to 356 BTC by year-end, valued at $31.2 million.
Outlook and guidance
2026 priorities include growing production, improving efficiency, and increasing Bitcoin per share.
February 2026 marked the highest monthly production and energized hashrate in company history, with further immersion expansion underway.
Ongoing evaluation of accretive M&A opportunities in the 5–20 MW range to further scale operations.
Focus remains on disciplined, per-share growth and power monetization strategies.
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Latest events from LM Funding America
- Q2 mining revenue $2.9M, $6.1M net loss, major expansion and $5M loan support growth.LMFA
Q2 20241 Feb 2026 - Expanding mining and finance, targeting 1,000 Bitcoin annually and new condo lending growth.LMFAH.C. Wainwright 26th Annual Global Investment Conference 202421 Jan 2026
- Q3 2024 saw lower revenue and a wider net loss, but liquidity and Bitcoin holdings improved.LMFAQ3 202414 Jan 2026
- 2024 profitability and vertical integration drove Bitcoin growth and improved efficiency.LMFAQ4 202426 Dec 2025
- Registering up to $150M in securities, with exposure to crypto mining and specialty finance.LMFARegistration Filing16 Dec 2025
- Up to 1.7M shares may be resold by an investor, with proceeds supporting working capital needs.LMFARegistration Filing16 Dec 2025
- Shelf registration enables flexible securities offerings; auditor's consent updated.LMFARegistration Filing16 Dec 2025
- Flexible securities offerings enabled with strong director protections and clear governance.LMFARegistration Filing16 Dec 2025
- Registering 52M+ shares for resale, with high crypto and regulatory risk exposure.LMFARegistration Filing16 Dec 2025
Next LM Funding America earnings date
Q1 202614 May, 2026
LM Funding America
Next LM Funding America earnings date
Q1 202614 May, 2026
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