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].
Bitcoin Depot Reports First Quarter 2025 Financial Results