Lm Funding America, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
August 16, 2021 at 04:23 pm EDT
Share
LM Funding America, Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced total revenue was USD 328,385 compared to USD 342,538 a year ago. Operating loss was USD 313,240 compared to USD 432,236 a year ago. Net income was USD 11.107 million compared to net loss of USD 437,968 a year ago. Basic earnings per share from continuing operations was USD 2.05 compared to basic loss per share from continuing operations of USD 0.56 a year ago. For the half year, total revenue was USD 504,993 compared to USD 683,734 a year ago. Operating loss was USD 2.040 million compared to USD 992,864 a year ago. Net income was USD 15.483 million compared to net loss of USD 989,062 a year ago. Basic earnings per share from continuing operations was USD 2.96 compared to basic loss per share from continuing operations of USD 1.41 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. 
