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].

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]