Core Insights - Bitcoin Depot reported a strong financial performance for Q3 2025, with revenue increasing by 20% year-over-year to $162.5 million, driven by kiosk expansion and higher transaction volumes [1][3][4] - The company achieved a net income of $5.5 million, a 139% increase from the previous year, reflecting improved profitability and cash generation [1][5][6] - Adjusted EBITDA rose by 75% to $16.1 million, indicating strong operational leverage and effective cost management [1][6][22] Financial Performance - Revenue for Q3 2025 was $162.5 million, up from $135.3 million in Q3 2024, attributed to increased kiosk deployment and higher median transaction sizes [3][4] - Gross profit increased by 40% to $28.2 million, with a gross profit margin of 17.4%, up from 14.9% in the same quarter last year [4][27] - Operating expenses rose to $18.3 million, primarily due to higher non-cash stock compensation [4] Profitability Metrics - Net income for Q3 2025 was $5.5 million, or $0.08 per share, compared to a net loss of $0.9 million, or ($0.05) per share, in Q3 2024 [5][17] - Adjusted EBITDA for the quarter was $16.1 million, with an Adjusted EBITDA margin of 9.9%, compared to 6.8% in Q3 2024 [6][27] Cash Position - As of September 30, 2025, Bitcoin Depot had cash, cash equivalents, and cryptocurrencies totaling $72.9 million, significantly up from $31.0 million at the end of 2024 [6][18] - 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] Future Outlook - The company anticipates Q4 2025 revenue to be approximately $112 to $115 million, with Adjusted EBITDA expected to be in the low single-digit millions, reflecting typical seasonality and regulatory impacts [8]
Bitcoin Depot Reports Third Quarter 2025 Financial Results