Bitcoin Depot Inc.

Listed Company

BTMCIK 0001901799NasdaqEmerging GrowthFinance ServicesFY ends Dec 31

Period

FY 2025

Revenue

$614.85M

Net Income

$-6.18M

Total Assets

$130.57M

Equity

$11.40M

Shares Out

—

Op. Cash Flow

$34.00M

Business

Bitcoin Depot Inc. owns and operates a network of cash-to-Bitcoin kiosks and related services across North America. It offers BTM kiosks for one-way cash-to-Bitcoin exchanges, BDCheckout retail checkout cash-to-Bitcoin integration, a mobile app with buy-online functionality, and BitAccess kiosk software and transaction processing. Key business segments include kiosk operations, BDCheckout retail partnerships, mobile app services, and software/licensing for third-party BTM operators. Its distribution spans convenience stores, gas stations, pharmacies, grocery chains, shopping malls and other retail partners across the U.S., Canada and Puerto Rico.

Summary from filing dated 2025-03-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Revenue	615	574	689	647
Cost of revenue (excluding depreciation and amortization)	502	482	588	575
Selling, general, and administrative	64	57	58	37
Depreciation and amortization	8	10	13	19
Total operating expenses	72	67	71	56
Income from operations	41	24	30	17
Interest expense, net	−14	−14	−12	−12
Other (expense) income, net	−20	406,000	−17	118,000
Gain (loss) on foreign currency transactions	124,000	−465,000	−289,000	−380,000
Income before provision for income taxes and non-controlling interest	7	10	2	4
Income tax (expense)	−2	−2	−49,000	−395,000
Net income	5	8	1	4
Net income attributable to non-controlling interest	11	20	15	−434,000
Net loss attributable to common stockholders	−6	−12	−26	0
Net loss per share of common stock - basic	−0.86	−4.21	−1.57	—
Net loss per share of common stock - diluted	−0.86	−4.21	−1.57	—
Weighted average number of common shares outstanding - basic	7	3	17	—
Weighted average number of common shares outstanding - diluted	7	3	17	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	66	29	30	38	—
Cryptocurrencies	11	2	712,000	540,000	—
Accounts receivable	639,000	275,000	245,000	263,000	—
Prepaid expenses and other current assets	3	3	4	2	—
Total current assets	80	34	34	40	44,739
Furniture and fixtures	635,000	635,000	635,000	618,000	—
Leasehold improvements	172,000	172,000	172,000	172,000	—
Kiosk machines - owned	43	37	24	15	—
Kiosk machines - leased	9	10	21	37	—
Total property and equipment	53	48	46	53	—
Less: accumulated depreciation	−27	−21	−21	−14	—
Total property and equipment, net	26	27	25	39	—
Intangible assets, net	804,000	2	4	5	—
Goodwill	9	9	9	9	—
Operating lease right-of-use assets, net	3	3	484,000	302,000	400,000
Deposits	1	734,000	412,000	17,000	—
Deferred tax assets	11	5	2	0	—
Total assets	131	80	74	93	394,940
Accounts payable	11	12	8	8	—
Accrued expenses and other current liabilities	41	14	19	11	—
Notes payable	7	6	4	8	—
Income taxes payable	2	2	2	647,000	—
Deferred revenue	343,000	20,000	297,000	19,000	—
Operating lease liabilities, current portion	1	858,000	279,000	228,000	—
Current installments of obligations under finance leases	2	3	7	18	—
Other non-income tax payable	0	2	2	0	—
Total current liabilities	64	41	43	47	380,905
Notes payable, non-current	54	49	17	30	—
Operating lease liabilities, non-current	2	2	319,000	247,000	—
Obligations under finance leases, non-current	360,000	2	3	6	—
Deferred income tax, net	0	604,000	846,000	1	—
Tax receivable agreement liability due to related party	0	2	865,000	0	—
Total Liabilities	119	97	65	84	—
Commitments and Contingencies (Note 21)	—	—	—	—	—
Treasury stock	−437,000	−437,000	−279,000	0	—
Additional paid-in capital	63	21	17	0	24,209
Accumulated deficit	−50	−43	−33	0	−10,965
Accumulated other comprehensive loss	−255,000	−342,000	−203,000	−182,000	—
Total Stockholders' Equity (Deficit) Attributable to Bitcoin Depot Inc.	12	−24	−16	7	—
(Deficit) Equity attributable to non-controlling interests	−840,000	7	25	2	—
Total Stockholders' Equity (Deficit)	11	−16	9	9	19
Total Liabilities and Stockholders' Equity (Deficit)	131	80	74	93	394,940

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Amortization of deferred financing costs	643,000	1	2	611,000
Depreciation and amortization	8	10	13	19
Unrealized loss on cryptocurrencies	3	0	—	—
Non-cash stock compensation	5	3	4	1
Purchase of services in cryptocurrencies	915,000	1	1	4
Deferred taxes	−7	−3	−1	−252,000
Write-off of deferred financing costs	0	3	2	—
Loss on debt extinguishment	429,000	0	—	—
Cryptocurrency received as payment	−854,000	−1	−1	−3
Other	439,000	754,000	1	—
Deposits	−308,000	−322,000	−412,000	—
Accounts receivable	−364,000	−30,000	59,000	−171,000
Cryptocurrencies	−3	−44,000	105,000	3
Prepaid expenses and other current assets	−54,000	438,000	−1	567,000
Accounts payable	−889,000	3	−2	−2
Accrued expenses and other current liabilities	27	−4	5	4
Income taxes payable	−475,000	−276,000	2	647,000
Other taxes payable	−2	−38,000	2	—
Tax receivable agreement liability	−331,000	2	111,000	—
Deferred revenue	322,000	−277,000	278,000	19,000
Operating leases, net	−491,000	−709,000	−211,000	−141,000
Net cash flows provided by operating activities	34	23	41	31
Acquisition of property and equipment	−5	−11	−22,000	−1
Proceeds from sale of property and equipment	88,000	0	—	—
Acquisition of cryptocurrency for investment	−8	−620,000	—	−321
Net cash flows used in investing activities	−14	−11	−22,000	−3
Proceeds from issuance of notes payable	25	35	1	5
Principal payments on notes payable	−21	−4	−20	−5
Payment of debt issuance costs	−313,000	−121,000	—	—
Principal payments on finance lease	−3	−8	−14	−17
Proceeds from finance leases	0	3	—	—
Proceeds from issuance of common stock, net	35	0	—	0
Cash paid in connection with Up-C restructuring	−9	0	—	—
Purchase of treasury stock	0	−158,000	−279,000	—
Distributions	−10	−37	−15	−11
Net cash flows provided by (used in) financing activities	16	−12	−49	−29
Effect of foreign exchange rate changes on cash and cash equivalents	−128,000	115,000	−1,000	−91,000
Net change in cash and cash equivalents	36	−287,000	−8	−488,000
Interest	11	10	10	11
Income taxes	10	4	371,000	117,000

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