Bitcoin Depot Inc. SEC 10-Q Report

Bitcoin Depot Inc., a leading operator of cryptocurrency kiosks (BTMs), has released its latest Form 10-Q report, showcasing robust financial and operational performance for the period ending June 30, 2025. The report highlights significant growth in revenue, profitability, and operational efficiency, underscoring the company's strong market presence and strategic initiatives.

Financial Highlights

• Total Revenue: $172.1 million, reflecting a year-over-year increase driven by higher sales from BTM Kiosks.
• Gross Profit: $32.7 million, calculated as Total Revenue minus Cost of Revenue (excluding depreciation and amortization), indicating improved cost management.
• Income from Operations: $15.7 million, showcasing a significant increase compared to the previous year, highlighting effective cost control and operational efficiency.
• Net Income: $12.3 million, a substantial rise from the prior year's $4.4 million, demonstrating enhanced profitability.
• Net Income Per Share: $0.16, indicating a positive earnings per share compared to a loss in the previous year, reflecting improved financial performance.

Business Highlights

• Revenue Segments: The company primarily generates revenue through its BTM kiosks, which accounted for $171.9 million in revenue for the three months ended June 30, 2025. Other revenue streams contributed $244,000 during the same period.
• Geographical Performance: Substantially all of the company's revenue was generated in the U.S. for the six months ended June 30, 2025, indicating a strong domestic market presence.
• Sales Units: The company operates a network of cryptocurrency kiosks (BTMs) across North America, Puerto Rico, and Australia, facilitating the purchase and sale of cryptocurrencies.
• New Product Launches: The company offers a BDCheckout product, allowing users to load cash into their accounts at retail locations to purchase cryptocurrency, expanding its service offerings beyond traditional BTM kiosks.
• Future Outlook: The company expects its existing cash and cash equivalents, together with cash provided by operations, to be sufficient to fund its operations for a period of 12 months from the date of the financial statement issuance.

SEC Filing: Bitcoin Depot Inc. [ BTM ] - 10-Q - Aug. 12, 2025