ATLANTA, March 24, 2026 (GLOBE NEWSWIRE) -- Bitcoin Depot (NASDAQ: BTM) (“Bitcoin Depot” or the “Company”), a U.S.-based Bitcoin ATM operator and fintech company, today announced that Scott Buchanan has decided to step down as Chief Executive Officer, effective immediately, to pursue a new opportunity outside of the Company. The board of directors thank Scott for his many contributions and wish him well in his next chapter. Effective immediately, Alex Holmes has been appointed Chief Executive Officer and Ch ...

Core Insights - Bitcoin Depot Inc. experienced a strong year in 2025, with growth in key operating and financial metrics, despite a decline in fourth-quarter results due to new state regulations and compliance enhancements [5][6][8] - The company is positioned as the largest operator in North America, with a robust compliance program, and ended the fourth quarter with approximately 9,700 active machines [6][8] - The company is diversifying its business model by entering the peer-to-peer social betting market and launching a standalone business advance platform, ReadyBox [10][11] Financial Performance - Fourth-quarter revenue was $116 million, down from $136.8 million year-over-year, while full-year revenue increased by 7% to $615 million [11][12] - Gross profit for 2025 was $15.3 million, compared to $23.5 million in 2024, with a fourth-quarter gross margin of 13.2% [12] - GAAP net loss for 2025 was $24.9 million, compared to a net income of $5.4 million in 2024, with an adjusted EBITDA for the year increasing by 42% to $56.4 million [13][12] Regulatory Environment - The company anticipates continued regulatory activity at the state level in 2026, which may introduce additional transaction limits and consumer protection requirements [8][16] - The management believes that these regulatory measures will ultimately raise industry standards and reinforce the advantages of scale and compliance [8][9] Growth Strategy - Bitcoin Depot Inc. completed the acquisition of assets from National Day Bitcoin ATM, adding over 500 kiosks, and formed new retail partnerships to expand its network [6][7] - The company is focusing on cost containment and fleet optimization in response to the expected revenue decline of 30% to 40% in 2026 for its core business [16][17] - The management is open to strategic acquisitions in response to regulatory changes, depending on how the industry adapts [24][25] Market Outlook - The company expects to see 80% to 90% of states clarify their regulatory stance by the end of 2026, leading to less regulatory activity in 2027 [27] - International expansion remains a focus, with ongoing efforts to launch in two additional countries [28]

分组1 - Bitcoin Depot Inc. reported a quarterly loss of $1.18 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.47, representing an earnings surprise of -152.84% [1] - The company posted revenues of $116.04 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 1.85%, but down from $136.83 million a year ago [2] - Bitcoin Depot Inc. shares have declined approximately 51.5% since the beginning of the year, contrasting with the S&P 500's decline of 3.1% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is breakeven on revenues of $133.5 million, while for the current fiscal year, it is $0.63 on revenues of $556.64 million [7] - The Zacks Industry Rank indicates that the Financial - Miscellaneous Services sector is in the bottom 41% of over 250 Zacks industries, suggesting potential underperformance compared to the top 50% [8]

Financial Data and Key Metrics Changes - Revenue for Q4 2025 was $116 million, down from $136.8 million in Q4 2024, primarily due to new state regulations and compliance standards [9][10] - Full year revenue increased by 7% to $615 million, driven by kiosk expansion and growth in median transaction size [10] - Gross profit for Q4 2025 was $15.3 million, compared to $23.5 million in Q4 2024, with a gross margin of 13.2% [10][11] - GAAP net loss for Q4 2025 was $24.9 million, compared to a net income of $5.4 million in Q4 2024 [11] - Adjusted EBITDA for Q4 was $1.6 million, down from $13 million in the prior year, while full year adjusted EBITDA increased by 42% to $56.4 million [12] Business Line Data and Key Metrics Changes - The number of installed kiosks at the end of 2025 was 9,721, up 15% from the end of 2024 [10] - Median transaction size grew to $400, an increase of 43% from the end of 2024 [10] - The company completed the transition of assets from National Bitcoin ATM, adding over 500 kiosks to its network [5] Market Data and Key Metrics Changes - The company ended Q4 with approximately 9,700 active machines, reflecting both organic growth and targeted acquisitions [4] - The company expects continued regulatory activity at the state level in 2026, which may introduce additional transaction limits [7] Company Strategy and Development Direction - The company is diversifying beyond Bitcoin ATMs by leveraging its payment infrastructure and compliance capabilities, with recent acquisitions including a peer-to-peer social betting platform and a business advance platform [8] - The company aims to adapt to regulatory changes while focusing on cost containment and fleet optimization [15] Management's Comments on Operating Environment and Future Outlook - Management anticipates a challenging year in 2026 for the core Bitcoin ATM business, expecting revenue to decline by 30%-40% year-over-year due to regulatory changes [15] - By the end of 2026, management expects 80%-90% of states to have established their regulatory stance [25] Other Important Information - Cash and cash equivalents increased to $76.6 million as of December 31, 2025, compared to $31.0 million at the end of 2024 [13] - The company completed a $15 million registered direct offering of its Class A common stock during Q4 [13] Q&A Session Summary Question: Can you unpack the 2026 revenue guidance and underlying kiosk growth assumptions? - Management indicated that revenue decline is uncertain due to potential regulatory changes, with kiosk numbers likely remaining flat or slightly down [18] Question: How will new Bitcoin ATM regulations affect the M&A landscape? - Management stated that they may be opportunistic in M&A depending on how competitors react to regulatory changes, but they are not actively seeking acquisitions [21] Question: What is the regulatory landscape expected to look like by the end of 2026? - Management believes that by the end of 2026, 80%-90% of states will have made initial regulatory decisions [25] Question: How do current regulations affect international market ambitions? - Management confirmed ongoing efforts in international expansion, with hopes for successful launches in new countries despite varying regulatory environments [26]

Financial Data and Key Metrics Changes - Revenue for Q4 2025 was $116 million, down from $136.8 million in Q4 2024, primarily due to new state regulations and compliance standards [9][10] - Full year revenue increased by 7% to $615 million, driven by kiosk expansion and growth in median transaction size [10] - Gross profit for Q4 2025 was $15.3 million, compared to $23.5 million in Q4 2024, with a gross margin of 13.2% [10][11] - GAAP net loss for Q4 2025 was $24.9 million, compared to a net income of $5.4 million in Q4 2024 [11] - Adjusted EBITDA for Q4 was $1.6 million, down from $13 million in the prior year, while full year adjusted EBITDA increased by 42% to $56.4 million [12] Business Line Data and Key Metrics Changes - The number of installed kiosks at the end of 2025 was 9,721, up 15% from the end of 2024 [10] - Median transaction size grew to $400, up 43% from the end of 2024 [10] - The company completed the transition of assets from National Bitcoin ATM, adding over 500 kiosks to its network [5] Market Data and Key Metrics Changes - The company ended Q4 with approximately 9,700 active machines, reflecting both organic growth and targeted acquisitions [4] - The company expects continued regulatory activity at the state level in 2026, which may introduce additional transaction limits [7] Company Strategy and Development Direction - The company is diversifying beyond Bitcoin ATMs by leveraging its payment infrastructure and compliance capabilities, with recent acquisitions including a peer-to-peer social betting platform and a business advance platform [8] - The company aims to adapt to regulatory changes while focusing on cost containment and fleet optimization [15] Management's Comments on Operating Environment and Future Outlook - Management anticipates a challenging year in 2026 for the core Bitcoin ATM business, expecting revenue to decline between 30%-40% year-over-year due to regulatory changes [15] - The company believes that the regulatory measures will ultimately raise industry standards and reinforce its advantages in compliance and scale [7] Other Important Information - Cash and cash equivalents increased to $76.6 million as of December 31, 2025, compared to $31.0 million at the end of 2024 [13] - The company completed a $15 million registered direct offering of its Class A common stock during Q4 [13] Q&A Session Summary Question: Can you unpack the 2026 revenue guidance and underlying kiosk growth assumptions? - Management indicated that the revenue decline is uncertain due to potential regulatory changes, with kiosk numbers likely remaining flat or slightly down [18] Question: How do you envision new Bitcoin ATM regulations changing the M&A landscape? - Management stated that they may be opportunistic in M&A depending on how competitors react to regulatory changes, but they are not actively seeking acquisitions [21] Question: What is the regulatory landscape expected to look like by the end of 2026? - Management believes that 80%-90% of states will have decided on their regulatory stance by the end of 2026, with less activity expected in 2027 [25] Question: How do regulatory actions affect views on international markets? - Management noted that international markets do not currently show similar regulatory issues as the U.S. and they are actively working on expansion in two more countries [26]

Financial Data and Key Metrics Changes - Revenue for Q4 2025 was $116 million, down from $136.8 million in Q4 2024, primarily due to new state regulations and enhanced compliance standards [9] - Full year revenue increased by 7% to $615 million, driven by kiosk expansion and growth in median transaction size [9] - Gross profit for Q4 2025 was $15.3 million, compared to $23.5 million in Q4 2024, with a gross margin of 13.2% [10] - GAAP net loss for Q4 2025 was $24.9 million, compared to a net income of $5.4 million in Q4 2024 [11] - Adjusted EBITDA for Q4 was $1.6 million, down from $13 million in the prior year, while full year adjusted EBITDA increased by 42% to $56.4 million [12] Business Line Data and Key Metrics Changes - The number of installed kiosks at the end of 2025 was 9,721, up 15% from the end of 2024 [10] - Median transaction size grew to $400, up 43% from the end of 2024 [10] - The company completed the transition of assets from National Bitcoin ATM, adding over 500 kiosks to its network [5] Market Data and Key Metrics Changes - The company ended Q4 with approximately 9,700 active machines, reflecting both organic growth and targeted acquisitions [4] - The company expects continued regulatory activity at the state level in 2026, which may introduce additional transaction limits [6] Company Strategy and Development Direction - The company is diversifying beyond Bitcoin ATMs by leveraging existing payment infrastructure and compliance capabilities [8] - Recent acquisitions include Kutt, a peer-to-peer social betting platform, and the launch of ReadyBucks, a standalone business advance platform [8] - The company aims to adapt to regulatory changes while focusing on cost containment and fleet optimization [15] Management's Comments on Operating Environment and Future Outlook - Management anticipates a challenging year in 2026 for the core Bitcoin ATM business, expecting revenue to decline by 30%-40% year-over-year [15] - The company believes that regulatory measures will ultimately raise industry standards and reinforce compliance advantages [6] Other Important Information - Cash, cash equivalents, and cryptocurrencies increased to $76.6 million as of December 31, 2025, compared to $31.0 million at the end of 2024 [12] - Debt at the end of Q4 2025 was $62.5 million, up from $60.9 million at the end of 2024 [13] Q&A Session Summary Question: Can you unpack the 2026 revenue guidance and underlying kiosk growth assumptions? - Management indicated that the revenue decline is uncertain due to potential regulatory changes, with kiosk numbers likely remaining flat or slightly down [18] Question: How will new Bitcoin ATM regulations affect the M&A landscape? - Management stated that they may be opportunistic in M&A depending on how competitors react to regulatory changes, but are not actively seeking acquisitions [20] Question: What is the expected regulatory landscape by the end of 2026? - Management believes that 80%-90% of states will have established their regulatory stance by the end of 2026, with less activity expected in 2027 [25] Question: How do regulatory actions in the U.S. affect international market ambitions? - Management noted that international markets do not currently exhibit the same regulatory issues as the U.S. and they are still pursuing expansion in two additional countries [26]

Investor Presentation Q4 2025 Disclaimer For the purposes of this notice, this "presentation" will mean and include the slides, any oral presentation of the slides by members of management of Bitcoin Depot Inc. (together with its subsidiary, Bitcoin Depot Operating LLC (f/k/a Lux Vending, LLC d/b/a Bitcoin Depot), (the "Company") or any person on their behalf, any question-and-answer session that follows that oral presentation, hard copies of this document and any materials distributed at, or in connection ...

Core Insights - Bitcoin Depot reported a 7% increase in revenue for 2025, reaching $614.9 million, compared to $573.7 million in 2024, driven by increased kiosk deployment and higher median transaction size [10][12] - The company experienced a net income of $5.1 million in 2025, a decrease from $7.8 million in 2024, impacted by an $18.5 million accrual for an arbitration judgment liability [12][6] - Gross profit for 2025 rose by 30% to $105.6 million, with a gross profit margin increase of 300 basis points to 17.2% [11][12] - Adjusted EBITDA increased by 42% to $56.4 million, reflecting higher revenue and income from operations [13] Financial Performance - Fourth quarter revenue for 2025 was $116.0 million, down from $136.8 million in the fourth quarter of 2024, primarily due to new state regulations and enhanced compliance standards [3] - Gross profit in the fourth quarter of 2025 was $15.3 million, down from $23.5 million in the same quarter of 2024, with a gross profit margin of 13.2% compared to 17.2% [4] - Total operating expenses in the fourth quarter of 2025 were $21.4 million, an increase from $15.0 million in the fourth quarter of 2024, attributed to higher legal services and compensation expenses [5] - The net loss for the fourth quarter of 2025 was $24.9 million, compared to a net income of $5.4 million in the fourth quarter of 2024 [6] Strategic Developments - The CEO highlighted that while fourth-quarter results declined year-over-year, the company views regulatory changes as beneficial for the long-term health and sustainability of the industry [2] - Bitcoin Depot acquired Kutt, a peer-to-peer social betting platform, marking its first entry into the P2P social betting market and reflecting a strategy to diversify beyond its core Bitcoin ATM business [2] - The company expects a revenue decline of 30% to 40% for its core business in 2026 due to the dynamic regulatory environment and enhanced compliance standards [14] Cash Flow and Assets - Net cash flows from operations in 2025 increased by 51% to $34.0 million compared to $22.5 million in 2024 [8] - As of December 31, 2025, cash, cash equivalents, and cryptocurrencies totaled $76.6 million, up from $31.0 million at the end of 2024 [7] - Total assets as of December 31, 2025, were $130.4 million, compared to $80.1 million in 2024 [26] Market Position - Bitcoin Depot operates over 9,000 kiosk locations globally and has the largest market share in North America [17] - The company aims to leverage its payments infrastructure and compliance expertise to navigate the evolving regulatory landscape and gain market share as the industry matures [2]

Core Insights - Bitcoin Depot has launched ReadyBucks, a business advance platform aimed at providing working capital solutions to small businesses, gig workers, and independent contractors [1][5] - ReadyBucks operates independently from Bitcoin Depot's core Bitcoin ATM business, offering business advances between $500 and $2,000 [2] - The platform is designed to cater to the growing independent workforce, with projections indicating that 86.5 million Americans will be freelancing by 2027 [3] Business Model - ReadyBucks offers revenue-based funding, allowing independent earners to sell a fixed portion of future business revenue in exchange for immediate capital, without traditional loans or credit checks [4] - The funding is tailored to support the variable income of gig workers, contractors, and freelancers, addressing their short-term working capital needs [4] Strategic Positioning - The CEO of Bitcoin Depot, Scott Buchanan, emphasized the need for flexible capital solutions for independent earners and small operators, positioning ReadyBucks as a significant step in diversifying the company's product offerings and revenue streams [5] - ReadyBucks is currently available in nine states, with plans for future expansion [5] Market Context - Bitcoin Depot has a strong operational foundation in compliance and payment processing, which it leverages to support and scale the new product line effectively [3][5] - The launch of ReadyBucks follows Bitcoin Depot's recent acquisitions, including a peer-to-peer social betting platform and a regional crypto kiosk operator, indicating a broader strategy for diversification [5]

Core Viewpoint - Bitcoin Depot, a leading Bitcoin ATM operator, will announce its financial results for Q4 and the full year of 2025 on March 16, 2026, before market opening [1]. Group 1: Financial Results Announcement - The conference call will take place on March 16, 2026, at 10:00 a.m. Eastern time [2]. - A live audio webcast will be available for the call, and a replay will be accessible starting at 2:00 p.m. Eastern time through March 27, 2026 [2]. Group 2: Company Overview - Bitcoin Depot was founded in 2016 with the goal of connecting cash users to the digital financial system [3]. - The company operates over 9,000 kiosk locations globally and has the largest market share in North America as of August 2025 [3]. - Users can convert cash to Bitcoin at kiosks in 47 states and through its BDCheckout product at thousands of retail locations in 31 states [3].