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Bitcoin Depot Inc
NASDAQ:BTM

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Bitcoin Depot Inc
NASDAQ:BTM
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Price: 2.02 USD -18.22% Market Closed
Market Cap: $21.2m

Bitcoin Depot Inc
Investor Relations

Bitcoin Depot Inc is a US-based company operating in Commercial Services & Supplies industry. The company is headquartered in Atlanta, Georgia and currently employs 106 full-time employees. The company went IPO on 2022-02-25. Bitcoin Depot Inc. is a Bitcoin ATM (BTM) operator and fintech company. The firm provides its users with simple, efficient and intuitive means of converting cash into cryptocurrency, which users can deploy in the payments, spending and investing space. The firm's products include Bitcoin Depot BTM and BDCheckout. Bitcoin Depot’s BTMs provide a streamlined, intuitive platform to convert cash to Bitcoin, Ethereum or Litecoin, giving users the ability on their own to access the broader, digital financial system. Bitcoin Depot’s streamlined process at each BTM typically takes under two minutes for new accounts and existing users can typically purchase cryptocurrency in under a minute. BDCheckout customers can fund their Bitcoin Depot accounts with cash directly at thousands of checkout counters at participating retailers across the United States. Once an account is funded, the user can receive Bitcoin through the Bitcoin Depot mobile app.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Mar 16, 2026
AI Summary
Q4 2025

Revenue pressure: Q4 revenue was $116 million, down from $136.8 million a year ago; management attributes the decline mainly to recently enacted state regulations and enhanced compliance.

2026 outlook: Company expects 2026 BTM revenue to fall 30%–40% year‑over‑year as the industry resets under new state rules and will focus on cost containment and fleet optimization.

Scale & fleet: Installed kiosks ended 2025 at 9,721 (up 15% year‑over‑year) after acquisitions and new retail partnerships; relocations are being used to improve unit economics.

Diversification moves: Acquired Kutt (P2P social betting) and launched ReadyBucks (merchant cash advance), but management does not expect these to be material contributors to 2026 revenue.

Profitability mix: Q4 GAAP net loss widened to $24.9 million driven in part by an $18.5 million arbitration accrual; full‑year adjusted EBITDA rose 42% to $56.4 million.

Liquidity & capital: Cash and crypto rose to $76.6 million; completed a $15 million registered direct offering in Q4; total debt was $62.5 million at year‑end.

Key Financials
Revenue (Q4)
$116 million
Revenue (Full Year)
$615 million
Installed kiosks
9,721
Median transaction size
$400
Lifetime value (average cumulative purchases per user)
$5.311
Gross profit (Q4)
$15.3 million
Gross margin (Q4)
13.2%
Gross margin (Full Year)
17.2%
Total operating expenses (Q4)
$21.4 million
Total operating expenses (Full Year)
$72.1 million
GAAP net loss (Q4)
$24.9 million
Net loss attributable to common shareholders (Q4)
$21.6 million
GAAP net income (Full Year)
$5.1 million
Adjusted EBITDA (Q4)
$1.6 million
Adjusted EBITDA (Full Year)
$56.4 million
Cash, cash equivalents and cryptocurrencies
$76.6 million
Cash from operating activities (Full Year)
$34.0 million
Total debt
$62.5 million
Term loan balance
$18 million
Profit‑sharing liabilities
$40 million
Arbitration judgment accrual (Q4)
$18.5 million
Equity offering completed (Q4)
$15 million
2026 revenue guidance
decline between 30% and 40% year‑over‑year
Earnings Call Recording
Other Earnings Calls

Management

Mr. Glen S. Leibowitz
Chief Financial Officer
No Bio Available
Ms. Sarah Wessel
Vice President of Sales
No Bio Available
Ms. Susan Echterhoff
Vice President of Human Resources
No Bio Available
Mr. Bill Knoll
Head of Product
No Bio Available
Ms. Amanda Jenkins
Controller
No Bio Available

Contacts

Address
GEORGIA
Atlanta
3343 Peachtree Road Ne, Suite 750
Contacts
+16784359604
bitcoindepot.com
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