Financial Performance - Q3 2025 revenue increased by 20% year-over-year to $162.5 million, up from $135.3 million in Q3 2024[3] - Q3 2025 net income rose 139% year-over-year to $5.5 million, compared to $2.3 million in Q3 2024, resulting in earnings of $0.08 per share[5] - Q3 2025 gross profit increased by 40% year-over-year to $28.2 million, with a gross profit margin of 17.4%, up from 14.9% in Q3 2024[4] - Adjusted EBITDA for Q3 2025 was $16.1 million, a 75% increase from $9.2 million in Q3 2024[6] - Revenue for the nine months ended September 30, 2025, reached $498,816,000, compared to $436,876,000 in 2024, marking an increase of about 14.2%[31] - Adjusted EBITDA for the nine months ended September 30, 2025, was $54,866,000, up from $26,731,000 in 2024, reflecting a growth of approximately 105.5%[29] - Net income for the nine months ended September 30, 2025, was $29,985,000, a significant increase from $2,421,000 in the same period of 2024, representing a growth of approximately 1,142%[23] Cash and Liquidity - Cash, cash equivalents, and cryptocurrencies totaled $72.9 million as of September 30, 2025, up from $31.0 million at the end of 2024[6] - Cash and cash equivalents at the end of the period were $59,266,000, compared to $32,229,000 at the end of September 2024, indicating a growth of approximately 83.8%[23] - The company reported a net cash flow from operating activities of $33,033,000 for the nine months ended September 30, 2025, compared to $17,253,000 in 2024, indicating a strong operational cash generation[23] - Net cash flows from operations for the first nine months of 2025 were $33.0 million, compared to $17.3 million in the same period of 2024[7] Operational Metrics - The increase in revenue was driven by increased kiosk deployment and higher median transaction sizes[3] - The company has over 9,000 kiosk locations, maintaining the largest market share in North America as of August 2025[11] - Total operating expenses for Q3 2025 were $18.3 million, compared to $16.9 million in Q3 2024, primarily due to higher non-cash stock compensation[4] Profitability and Margins - Adjusted Gross Profit for the nine months ended September 30, 2025, was $95,986,000, compared to $66,028,000 in 2024, representing an increase of about 45.0%[31] - The Adjusted EBITDA margin for the nine months ended September 30, 2025, was 11.0%, compared to 6.1% in 2024, indicating improved operational efficiency[29] - The gross profit margin for the nine months ended September 30, 2025, was 18.1%, up from 13.3% in 2024, reflecting better cost management[31] Future Outlook - The company expects Q4 2025 revenue to be approximately $112 to $115 million, reflecting typical seasonality and regulatory impacts[8] Balance Sheet - Total liabilities as of September 30, 2025, amounted to $104,262,000, an increase from $96,590,000 at the end of 2024[21] - Total stockholders' equity as of September 30, 2025, was $21,016,000, compared to a deficit of $16,486,000 at the end of 2024, showing a positive turnaround[21]
GSR II METEORA A(GSRM) - 2025 Q3 - Quarterly Results