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].

Company Overview - Bitcoin Depot is a U.S.-based Bitcoin ATM operator and a leading fintech company, founded in 2016, with a mission to connect cash users to the digital financial system [3] - The company operates approximately 8,400 kiosk locations across 48 states, holding the largest market share in North America as of December 31, 2024 [3] Recent Developments - Bitcoin Depot announced the purchase of an additional $5 million in Bitcoin, increasing its treasury holdings to 71.5 Bitcoin after acquiring 51 BTC [1] - This treasury strategy was first introduced in June of the previous year, reflecting the company's commitment to Bitcoin as a significant financial asset [1][2] Strategic Insights - The CEO of Bitcoin Depot, Brandon Mintz, emphasized the importance of Bitcoin as a store of value and expressed confidence in its growth potential [2] - The recent update in accounting standards allows shareholders to benefit from future appreciation of Bitcoin, reinforcing the company's strategic direction [2]

Core Insights - Bitcoin Depot Inc. reported preliminary financial results for Q4 2024, indicating a strong performance with expected revenue between $135 million and $137 million, slightly down from $148.4 million in Q4 2023 but stable compared to $135.3 million in Q3 2024 [2][3] - The company anticipates adjusted EBITDA to be between $11 million and $13 million, representing a year-over-year increase of 22% to 44% compared to $9.0 million in Q4 2023 and a sequential increase of 19% to 41% compared to $9.2 million in Q3 2024 [2][3] - CEO Brandon Mintz highlighted the expansion of the Bitcoin ATM (BTM) network and improvements in kiosk profitability as key factors contributing to the company's strong performance and positive outlook for 2025 [3] Financial Performance - Expected revenue for Q4 2024 is projected to be between $135 million and $137 million, compared to $135.3 million in Q3 2024 and $148.4 million in Q4 2023 [2] - Adjusted EBITDA is expected to range from $11 million to $13 million, marking a 22% to 44% increase year-over-year from Q4 2023 and a 19% to 41% increase sequentially from Q3 2024 [2] Company Overview - Bitcoin Depot, founded in 2016, operates the largest network of Bitcoin ATMs in North America, with approximately 8,400 kiosks as of December 31, 2024 [4] - The company aims to facilitate cash-to-Bitcoin conversions, providing users with access to the digital financial system across 48 states and thousands of retail locations [4]

Core Viewpoint - Bitcoin Depot Inc. is expanding its presence by deploying 50 additional Bitcoin ATMs in partnership with a convenience store operator in the Texas Panhandle, enhancing access to Bitcoin for local communities [1][2]. Company Overview - Bitcoin Depot Inc. is a leading Bitcoin ATM operator in North America, founded in 2016, with a mission to connect cash users to the digital financial system [4]. - As of December 5, 2024, the company operates approximately 8,486 kiosk locations across 48 states, holding the largest market share in North America [4]. Recent Developments - The partnership aims to meet the growing demand for convenient cryptocurrency access, particularly in high-traffic retail locations [2]. - Bitcoin Depot has achieved significant milestones, including exceeding its goal of deploying over 8,000 Bitcoin ATMs five months ahead of schedule and expanding its BDCheckout Program to six new states, as well as entering markets in Australia and Puerto Rico [2]. User Experience - Bitcoin Depot ATMs are designed for a seamless user experience, allowing customers to quickly convert cash into Bitcoin for various financial activities such as payments, transfers, remittances, and investments [3].

Core Insights - Bitcoin has surpassed its all-time price peak of $100,000, reflecting growing global confidence in Bitcoin as a financial asset and increasing demand for accessible crypto solutions [1][2] - The year 2024 has been significant for the cryptocurrency industry, marked by advancements such as the approval of the first Bitcoin spot ETFs and rising institutional adoption, indicating cryptocurrency's expanding role in the financial landscape [2] Company Overview - Bitcoin Depot Inc. operates over 8,300 Bitcoin ATM kiosks across North America and Puerto Rico, establishing itself as a leading player in facilitating crypto adoption [3][5] - The company has achieved key milestones, including expanding its BDCheckout Program to six new states and forming strategic retail partnerships with major convenience and grocery store retailers [3] User Experience and Market Trends - Bitcoin Depot aims to provide secure and convenient access to cryptocurrency through its BTMs, allowing users to quickly convert cash into Bitcoin for various financial activities [4] - The increasing momentum of Bitcoin is attracting new users to the market, with many opting for BTMs for their ease of use and security [4]

Financial Data and Key Metrics Changes - Third quarter revenue declined 25% year-over-year to $135.3 million compared to $179.5 million in the same quarter last year, primarily due to unfavorable legislation in California and regulatory changes in other states [15][12]. - Adjusted gross profit decreased 17% to $22.4 million, while adjusted gross margin increased by 160 basis points to 16.6% [17][15]. - GAAP net income increased 116% to $2.3 million, driven by lower operating expenses [19]. - Adjusted EBITDA decreased to $9.2 million, reflecting lower revenue [19]. - Operating cash flow for the first nine months of the year was $17.25 million, with $5.8 million generated in Q3 2024 [13][21]. Business Line Data and Key Metrics Changes - The company ended the quarter with approximately 8,300 active machines, reflecting successful kiosk network growth [7]. - The profit share program expanded by 433 Bitcoin ATMs since the start of Q3, totaling over 1,000 ATMs in the program [9]. - Median transaction size continues to rise year-over-year, indicating improved performance in relocated kiosks [8]. Market Data and Key Metrics Changes - The company is preparing for international expansion, with over 300 kiosks shipped for an upcoming launch in Australia [10]. - The company is actively pursuing opportunities in New York State, which remains a significant growth market [11]. Company Strategy and Development Direction - The growth plan focuses on international expansion, deploying remaining kiosks from inventory, and pursuing regulatory approval in New York [10][11]. - The company aims to optimize its operations for profitability and positive cash flow, with a potential cash dividend for shareholders in 2025 [13][22]. Management's Comments on Operating Environment and Future Outlook - Management views 2024 as the low point for the business, with expectations for growth ahead [12]. - The company is optimistic about the regulatory environment becoming less harsh, which could benefit operations [26][27]. - Management is focused on improving vendor pricing, lowering professional costs, and optimizing customer markups to drive profitability [23]. Other Important Information - The company holds 11.3 Bitcoin in its investment wallet as of the end of Q3 2024 [14]. - The company is exploring the best ways to utilize cash to create shareholder value, including the potential for a cash dividend [13][22]. Q&A Session Summary Question: Outlook for the Bitcoin ATM industry in the U.S. from a regulatory standpoint - Management believes the cryptocurrency industry will face less harsh regulations under the new administration, which could positively impact operations [26][27]. Question: Update on the Bitcoin treasury strategy - The company is excited about its Bitcoin treasury and is focused on paying off preferred dividends before considering expanding the treasury [28][29]. Question: Productivity ramp of new kiosks - Management confirmed that new kiosks are ramping up in volume as expected, with median performance in the first 90 days averaging around $2,000 [32][34].

ATLANTA, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Bitcoin Depot Inc. (“Bitcoin Depot” or the “Company”), a U.S.-based Bitcoin ATM operator and leading fintech company, today reported financial results for the third quarter ended September 30, 2024. Bitcoin Depot will host a conference call and webcast at 10:00 a.m. ET today. An earnings presentation and link to the webcast will be made available at ir.bitcoindepot.com. “During the third quarter, we made significant strides in expanding our Bitcoin ATM network whil ...