Investor Presentation Q1 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 Inc. reported a strong financial performance for Q1 2025, with a 19% year-over-year revenue increase to $164.2 million and a significant net income of $12.2 million compared to a net loss of $4.2 million in the prior year [1][5][3]. Financial Performance - Revenue for Q1 2025 increased by 19% to $164.2 million from $138.5 million in Q1 2024, driven by increased kiosk deployment and higher median transaction sizes [3]. - Net income for Q1 2025 rose to $12.2 million, a turnaround from a net loss of $4.2 million in Q1 2024, with net income attributable to common shareholders increasing to $4.2 million or $0.20 per share [5]. - Adjusted gross profit surged by 92% year-over-year to $33.1 million, with an adjusted gross profit margin of 20.2%, up from 12.5% in the previous year [6][29]. - Adjusted EBITDA saw a remarkable increase of 315% to $20.3 million compared to $4.9 million in Q1 2024, primarily due to higher revenue and gross profit [7]. Cost Management - Total operating expenses decreased by 7% to $15.3 million in Q1 2025 from $16.6 million in Q1 2024, attributed to lower depreciation and insurance costs as the company optimizes its cost structure [4]. Cash Flow and Investments - Cash from operations for Q1 2025 was reported at $16.3 million, a significant increase from $1.3 million in Q1 2024 [8]. - As of March 31, 2025, the company held $43.3 million in cash, cash equivalents, and cryptocurrencies, up from $31.0 million at the end of 2024, and acquired 83 additional Bitcoin during the quarter [8]. Future Outlook - The company anticipates low-to-mid-single-digit revenue growth for Q2 2025 compared to Q2 2024, indicating a cautious but positive outlook for continued growth [9].

Company Overview - Bitcoin Depot is a U.S.-based Bitcoin ATM operator and leading fintech company, founded in 2016, with a mission to connect cash users to the digital financial system [3] - The company provides users with efficient means to convert cash into Bitcoin, which can be used for payments, spending, and investing [3] - As of February 25, 2025, Bitcoin Depot has over 8,400 kiosk locations across 48 states, holding the largest market share in North America [3] Upcoming Financial Results - Bitcoin Depot will hold a conference call and live audio webcast on May 15, 2025, at 10:00 a.m. Eastern time to discuss its financial results for the first quarter ended March 31, 2025 [1] - The financial results will be released before the market opens on the same day [1] Conference Call Details - The conference call can be accessed via U.S. and Canada toll-free number 888-596-4144 or toll number 646-968-2525, with Conference ID 4520708 [2] - A replay of the call will be available starting at 2:00 p.m. Eastern time through May 22, 2025 [2]

分组1 - Bitcoin Depot Inc. reported a quarterly loss of $0.21 per share, significantly worse than the Zacks Consensus Estimate of $0.04, representing an earnings surprise of -625% [1] - The company posted revenues of $136.83 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 0.46%, but down from $148.41 million a year ago [2] - The stock has underperformed the market, losing about 16.1% since the beginning of the year compared to the S&P 500's decline of -3.6% [3] 分组2 - The current consensus EPS estimate for the coming quarter is $0.09 on revenues of $151.67 million, and for the current fiscal year, it is $0.34 on revenues of $610.61 million [7] - The Zacks Industry Rank for Financial - Miscellaneous Services is in the top 14% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

Company Overview - Bitcoin Depot (NASDAQ: BTM) is a leading Bitcoin ATM operator in the U.S., founded in 2016, with a mission to connect cash users to the digital financial system [5] - The company has the largest market share in North America, operating approximately 8,400 kiosk locations as of December 31, 2024 [5] Leadership Appointment - David Gray has been appointed as Chief Financial Officer (CFO) of Bitcoin Depot, effective immediately, bringing over 20 years of financial leadership experience [1][2] - Gray previously served as CFO at Aviat Networks, where he contributed to revenue growth from $275 million to nearly $500 million through strategic acquisitions and financial transformation [3] Strategic Focus - As CFO, Gray will oversee Bitcoin Depot's financial strategy, treasury, and corporate development, positioning the company for continued growth in the evolving cryptocurrency landscape [2] - The CEO of Bitcoin Depot, Brandon Mintz, emphasized Gray's expertise in financial strategy and operational excellence as crucial for the company's expansion and market leadership [4]

Financial Data and Key Metrics Changes - Q4 adjusted gross profit increased by 18% year-over-year to $25.4 million from $21.6 million in Q4 2023 [8][25] - Adjusted EBITDA rose by 34% to $12 million in Q4 2024 compared to $9 million in Q4 2023 [28] - GAAP net income for Q4 2024 was $5.4 million, a significant increase from a net loss of $1.7 million in Q4 2023 [27] - Total operating expenses decreased by 16% to $15 million from $17.8 million in the previous year [26] Business Line Data and Key Metrics Changes - The company ended 2024 with approximately 8,457 active kiosks, exceeding its goals [11] - The relocation strategy has shown improved volumes at relocated locations, with kiosks typically breakeven within four to five months [12][14] Market Data and Key Metrics Changes - The overall global Bitcoin ATM market is expected to see limited growth in 2025 compared to 2024, with Australia anticipated to continue its growth trajectory [40] - The company is focusing on expanding its footprint in Australia, which ranks third worldwide in Bitcoin ATM adoption [18] Company Strategy and Development Direction - The company is pursuing international expansion, with plans to launch in Australia and target additional countries in 2025 [17][19] - The strategy includes optimizing existing kiosks and building partnerships to enhance accessibility to Bitcoin [11][15] - The company is also focused on regulatory engagement, particularly in New York State, to secure operational licenses [20][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business model's cash flow generation and the potential for shareholder value creation through organic growth and potential dividends [9][10] - The company is optimistic about the regulatory environment under the new administration, which is seen as pro-crypto [44][82] - Financial guidance for Q1 2025 anticipates revenues between $151 million and $154 million, representing growth of 9% to 11% compared to Q1 2024 [36] Other Important Information - The company ended 2024 with $31 million in cash and cash equivalents, including cryptocurrencies, and generated $22.5 million from operating activities [31] - Debt at the end of the quarter was $60.9 million, with plans to pay down at least $9 million in 2025 [32] Q&A Session Summary Question: What are the growth expectations for the global Bitcoin ATM market in 2025? - Management believes growth will be limited compared to 2024, with Australia expected to see continued growth [40][41] Question: How is the regulatory environment affecting the business? - Management is optimistic about the new administration's stance on crypto and does not foresee significant negative impacts from proposed legislation [42][44] Question: What is the status of the kiosks in inventory and their deployment in 2025? - The inventory includes kiosks for Australia, and the company aims to reach a total installed fleet of around 10,000 kiosks [48][50] Question: What is driving the increase in gross margin? - The increase in gross margin to 18.6% is attributed to optimized markups, reduced armored expenses, and declining rent costs [56][57] Question: What is the expected operating expense run rate going forward? - The expected operating expense run rate is around $15 million, with potential for slight reductions as legal costs decrease [59][60] Question: What are the prospects for M&A opportunities? - While the company is open to M&A discussions, it currently finds organic growth more financially viable due to lower kiosk acquisition costs [88][90]

Financial Performance - Q4 2024 revenue was $136.8 million, down from $148.4 million in Q4 2023, primarily due to unfavorable legislation in California and the relocation of underperforming kiosks [4][8] - Q4 operating expenses decreased by 16% year-over-year to $15.0 million, attributed to non-recurring costs from going public in 2023 [5][9] - Q4 net income rose significantly to $5.4 million compared to a net loss of $1.7 million in the prior year, driven by lower depreciation, amortization, and operating expenses [5][24] - Adjusted gross profit for Q4 2024 increased by 18% year-over-year to $25.4 million, with an adjusted gross profit margin of 18.6%, up from 14.5% in Q4 2023 [6][33] - Adjusted EBITDA for Q4 2024 was $12.0 million, a 34% increase from $9.0 million in Q4 2023, mainly due to higher net income [7][11] Full Year Results - Total revenue for 2024 was $573.7 million, down from $689.0 million in 2023, influenced by the same legislative changes and kiosk relocations [8][9] - Total operating expenses for 2024 decreased by 5% to $67.2 million compared to $70.6 million in 2023, again due to non-recurring public offering costs and cost-saving measures [9][10] - Net income for 2024 increased by 432% to $7.8 million from $1.5 million in 2023, primarily due to the absence of public offering costs and other expense reductions [9][24] - Adjusted gross profit for 2024 was $91.4 million, down from $101.0 million in 2023, with an adjusted gross profit margin of 15.9%, up from 14.7% [10][33] - Adjusted EBITDA for 2024 was $38.7 million, down from $56.3 million in 2023, reflecting the decline in revenue [11] Future Outlook - The company anticipates Q1 2025 revenues between $151 million and $154 million, representing growth of 9% to 11% compared to Q1 2024 [12] - Projected adjusted EBITDA for Q1 2025 is expected to be between $12 million and $14 million, indicating over 200% growth compared to Q1 2024 [12] - The company is focused on optimizing its Bitcoin ATM network and expanding its kiosk presence both domestically and internationally, aiming for a strong return to growth in 2025 [3][12]

Company Overview - Bitcoin Depot is a leading Bitcoin ATM operator in the U.S., with approximately 8,400 kiosk locations as of December 31, 2024, and operates in 48 states [5] - The company aims to connect cash users to the digital financial system, providing simple and efficient means to convert cash into Bitcoin [5] Leadership Appointment - Chris Ryan has been appointed as Chief Legal Officer, bringing extensive experience in financial services, cryptocurrency, and regulatory compliance [1][2] - Ryan previously served as Deputy General Counsel at MoneyGram International, where he led legal teams on cryptocurrency initiatives and regulatory strategies across multiple regions [3] Strategic Focus - As Chief Legal Officer, Ryan will guide Bitcoin Depot's legal and compliance strategy, focusing on governance, risk management, and regulatory matters [2] - His role will also include overseeing partnerships, legal operations, and policy initiatives to support the company's expansion [2] Industry Context - The cryptocurrency industry is evolving rapidly, and Bitcoin Depot aims to enhance compliance and strengthen its market position [4] - The company is focused on building a strong regulatory and compliance foundation to support its growth and mission of making Bitcoin accessible to a wider audience [4]

Company Overview - Bitcoin Depot is a U.S.-based Bitcoin ATM operator and leading fintech company, founded in 2016, with a mission to connect cash users to the digital financial system [3] - The company has the largest market share in North America, operating over 8,400 kiosk locations as of February 25, 2025 [3] Upcoming Financial Results - Bitcoin Depot will hold a conference call and live audio webcast on March 18, 2025, at 10:00 a.m. Eastern time to discuss its financial results for Q4 and the full year ended December 31, 2024 [1] - The financial results will be released before the market opens on the same day [1] User Services - Bitcoin Depot provides users with simple and efficient means to convert cash into Bitcoin, which can be used for payments, spending, and investing [3] - Users can convert cash to Bitcoin at kiosks in 48 states and at thousands of retail locations in 29 states through its BDCheckout product [3]

Core Viewpoint - Bitcoin Depot has reaffirmed its commitment to Bitcoin as a significant financial asset by increasing its treasury holdings to 82.6 BTC through recent purchases [1][2]. Company Overview - Bitcoin Depot, founded in 2016, operates as a Bitcoin ATM provider and aims to connect cash users to the digital financial system [2]. - The company has the largest market share in North America, with over 8,400 kiosk locations across 48 states as of February 25, 2025 [2]. Treasury Strategy - The company purchased an additional 11.1 Bitcoin, following a previous acquisition of 51 Bitcoin, as part of its treasury strategy initiated in June of the previous year [1]. - This strategy reflects the company's belief in Bitcoin's potential for growth and its role as a store of value [2].