Grayscale Litecoin Trust (LTCN) Q4 2022 Earnings Report

Grayscale Litecoin Trust (LTCN) reports for QQ4 2022 show a highly capital-light, crypto-tracking vehicle with no reported revenue and minimal disclosed operating cash flows. In the four-quarter data set, depreciation and amortization (D&A) is shown as 25.52 million USD for Q4 2022, with EBITDA also recorded at 25.52 million USD in that same period, alongside a weighted average shares outstanding of 16.244 million. The balance sheet paints a lean picture: total assets of 79,397 USD and cash and short-term investments of 79,397 USD, implying the trust holds cash and LTC-related assets but without a sizable accrual base or operating earnings. The enterprise value multiple is recorded as negative 1.189, suggesting a substantial discount relative to reported metrics, which is typical for a passive LTC tracking vehicle with limited upside from internal profitability.