ATLANTA, March 24, 2026 (GLOBE NEWSWIRE) -- Bitcoin Depot (NASDAQ: BTM) (“Bitcoin Depot” or the “Company”), a U.S.-based Bitcoin ATM operator and fintech company, today announced that Scott Buchanan has decided to step down as Chief Executive Officer, effective immediately, to pursue a new opportunity outside of the Company. The board of directors thank Scott for his many contributions and wish him well in his next chapter. Effective immediately, Alex Holmes has been appointed Chief Executive Officer and Ch ...

Core Insights - Bitcoin Depot reported a 7% increase in revenue for 2025, reaching $614.9 million, compared to $573.7 million in 2024, driven by increased kiosk deployment and higher median transaction size [10][12] - The company experienced a net income of $5.1 million in 2025, a decrease from $7.8 million in 2024, impacted by an $18.5 million accrual for an arbitration judgment liability [12][6] - Gross profit for 2025 rose by 30% to $105.6 million, with a gross profit margin increase of 300 basis points to 17.2% [11][12] - Adjusted EBITDA increased by 42% to $56.4 million, reflecting higher revenue and income from operations [13] Financial Performance - Fourth quarter revenue for 2025 was $116.0 million, down from $136.8 million in the fourth quarter of 2024, primarily due to new state regulations and enhanced compliance standards [3] - Gross profit in the fourth quarter of 2025 was $15.3 million, down from $23.5 million in the same quarter of 2024, with a gross profit margin of 13.2% compared to 17.2% [4] - Total operating expenses in the fourth quarter of 2025 were $21.4 million, an increase from $15.0 million in the fourth quarter of 2024, attributed to higher legal services and compensation expenses [5] - The net loss for the fourth quarter of 2025 was $24.9 million, compared to a net income of $5.4 million in the fourth quarter of 2024 [6] Strategic Developments - The CEO highlighted that while fourth-quarter results declined year-over-year, the company views regulatory changes as beneficial for the long-term health and sustainability of the industry [2] - Bitcoin Depot acquired Kutt, a peer-to-peer social betting platform, marking its first entry into the P2P social betting market and reflecting a strategy to diversify beyond its core Bitcoin ATM business [2] - The company expects a revenue decline of 30% to 40% for its core business in 2026 due to the dynamic regulatory environment and enhanced compliance standards [14] Cash Flow and Assets - Net cash flows from operations in 2025 increased by 51% to $34.0 million compared to $22.5 million in 2024 [8] - As of December 31, 2025, cash, cash equivalents, and cryptocurrencies totaled $76.6 million, up from $31.0 million at the end of 2024 [7] - Total assets as of December 31, 2025, were $130.4 million, compared to $80.1 million in 2024 [26] Market Position - Bitcoin Depot operates over 9,000 kiosk locations globally and has the largest market share in North America [17] - The company aims to leverage its payments infrastructure and compliance expertise to navigate the evolving regulatory landscape and gain market share as the industry matures [2]

Core Insights - Bitcoin Depot has launched ReadyBucks, a business advance platform aimed at providing working capital solutions to small businesses, gig workers, and independent contractors [1][5] - ReadyBucks operates independently from Bitcoin Depot's core Bitcoin ATM business, offering business advances between $500 and $2,000 [2] - The platform is designed to cater to the growing independent workforce, with projections indicating that 86.5 million Americans will be freelancing by 2027 [3] Business Model - ReadyBucks offers revenue-based funding, allowing independent earners to sell a fixed portion of future business revenue in exchange for immediate capital, without traditional loans or credit checks [4] - The funding is tailored to support the variable income of gig workers, contractors, and freelancers, addressing their short-term working capital needs [4] Strategic Positioning - The CEO of Bitcoin Depot, Scott Buchanan, emphasized the need for flexible capital solutions for independent earners and small operators, positioning ReadyBucks as a significant step in diversifying the company's product offerings and revenue streams [5] - ReadyBucks is currently available in nine states, with plans for future expansion [5] Market Context - Bitcoin Depot has a strong operational foundation in compliance and payment processing, which it leverages to support and scale the new product line effectively [3][5] - The launch of ReadyBucks follows Bitcoin Depot's recent acquisitions, including a peer-to-peer social betting platform and a regional crypto kiosk operator, indicating a broader strategy for diversification [5]

Core Viewpoint - Bitcoin Depot, a leading Bitcoin ATM operator, will announce its financial results for Q4 and the full year of 2025 on March 16, 2026, before market opening [1]. Group 1: Financial Results Announcement - The conference call will take place on March 16, 2026, at 10:00 a.m. Eastern time [2]. - A live audio webcast will be available for the call, and a replay will be accessible starting at 2:00 p.m. Eastern time through March 27, 2026 [2]. Group 2: Company Overview - Bitcoin Depot was founded in 2016 with the goal of connecting cash users to the digital financial system [3]. - The company operates over 9,000 kiosk locations globally and has the largest market share in North America as of August 2025 [3]. - Users can convert cash to Bitcoin at kiosks in 47 states and through its BDCheckout product at thousands of retail locations in 31 states [3].

Core Viewpoint - Bitcoin Depot has initiated a phased rollout of a new compliance enhancement requiring customers to provide identification for every transaction at its kiosks, marking a significant advancement in its compliance protocols to prevent fraud and illicit activity [1][2][3] Group 1: Compliance Enhancements - The new policy began in February 2026 and is being implemented across Bitcoin Depot's U.S. kiosk network, enhancing the Company's Know Your Customer (KYC) standards [2] - This enhancement adds a layer of protection against account sharing, identity theft, and account takeover attempts, reinforcing security measures [2][3] - The updated compliance measure is expected to provide meaningful protection for consumers as the digital asset industry matures [4] Group 2: Operational Impact - Bitcoin Depot's kiosks facilitate the conversion of cash into Bitcoin, allowing customers to engage with the broader digital financial system for various transactions [5] - Since going public in July 2023, Bitcoin Depot has demonstrated its ability to expand both domestically and internationally while focusing on compliance and customer experience [5][6] - The Company operates over 9,000 kiosk locations globally as of August 2025, maintaining the largest market share in North America [6]

Core Viewpoint - Bitcoin Depot Inc. will implement a one-for-seven (1:7) reverse stock split effective February 23, 2026, at 12:01 a.m. Eastern time, with trading on a split-adjusted basis commencing the same day [1]. Group 1: Reverse Stock Split Details - The reverse stock split was authorized by stockholders holding a majority of voting power on January 12, 2026, and subsequently approved by the Board on February 12, 2026 [2]. - The reverse stock split will not change the authorized number of shares of Common Stock or preferred stock, and no fractional shares will be issued; instead, stockholders will receive cash payments for fractional shares [4]. - Following the reverse split, the exercise price for warrants will increase to $80.50, with every seven shares of Class A Common Stock purchasable under the warrants representing one share post-split [5]. Group 2: Impact on Stockholders - Stockholders will receive information from Continental Stock Transfer & Trust regarding their stock ownership after the reverse split, and those holding shares in brokerage accounts will not need to take any action [7]. - Outstanding equity-based awards and other securities convertible into Common Stock will be proportionately adjusted according to the terms specified by the Board [6]. Group 3: Company Overview - Bitcoin Depot, founded in 2016, aims to connect cash users to the digital financial system, allowing cash conversion to Bitcoin at over 9,000 kiosks globally as of August 2025 [10].

Core Insights - Bitcoin Depot has acquired Instant Coin Bank, enhancing its presence in the South-Central United States and supporting its long-term growth strategy [1][2] Company Overview - Bitcoin Depot is a leading Bitcoin ATM operator in the U.S., providing cash-to-crypto access through its extensive network of kiosks [5] - The company operates over 9,000 kiosk locations globally as of August 2025 and has the largest market share in North America [5] Acquisition Details - The acquisition of Instant Coin Bank allows Bitcoin Depot to expand its footprint in Texas and surrounding markets, integrating Instant Coin Bank's ATM network into its platform [2] - All Instant Coin Bank locations will transition to Bitcoin Depot branding without service disruption, maintaining core functionality while enhancing customer support and compliance [2][3] Strategic Fit - The acquisition is seen as a strategic fit due to sustained demand for cash-to-crypto access in the region, allowing Bitcoin Depot to consolidate a fragmented industry [2][3] - Instant Coin Bank's President highlighted that joining Bitcoin Depot will enhance customer experience and operational capabilities [3]

Core Insights - Bitcoin Depot is undergoing a leadership transition to support its long-term strategy, operational scaling, and M&A objectives [1][2][3] Leadership Changes - Scott Buchanan has been appointed as the new CEO, effective January 1, 2026, transitioning from his current role as President and COO [2] - Brandon Mintz will step down as CEO to become Executive Chairman, focusing on strategic vision and M&A opportunities [2][3] - Elizabeth Simer has been appointed as COO, bringing over 15 years of experience in operational and strategic leadership [3][4] Company Strategy - The leadership transition is aimed at capitalizing on strategic, operational, and M&A opportunities [3] - The company plans to enhance operational excellence, strategic expansion, and thoughtful M&A evaluation under the new leadership [3][4] Market Position - Bitcoin Depot operates the largest network of Bitcoin ATMs in North America, with over 9,000 kiosk locations as of August 2025 [5] - The company aims to connect cash users to the digital financial system through its kiosks and BDCheckout product [5]

Core Insights - Bitcoin Depot has announced a retail partnership with Wild Bill's Tobacco to install Bitcoin ATMs in 10 of its stores, with potential for future expansion across over 250 locations [1][2][3] - The partnership aims to enhance customer access to Bitcoin, making it simple and secure for consumers to purchase cryptocurrency while shopping for everyday items [2][3] - Bitcoin Depot has experienced significant growth in 2025, including international expansion into Hong Kong and multiple strategic partnerships [3] Company Overview - Bitcoin Depot, founded in 2016, operates the largest network of Bitcoin ATMs in North America, with over 9,000 kiosks across 47 states as of August 2025 [5] - The company focuses on providing users with an efficient way to convert cash into Bitcoin, facilitating its use in payments, spending, and investing [5] - Wild Bill's Tobacco, established in 1994, is the second largest tobacco retailer in the U.S. and has over 240 locations, known for its customer service and product selection [6]

Core Insights - Bitcoin Depot has initiated a retail partnership with Wild Bill's Tobacco, starting with a pilot installation of 10 kiosks, with plans for future expansion across over 250 locations [1][2][3] Company Overview - Bitcoin Depot 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 operates over 9,000 kiosk locations across 47 states, holding the largest market share in North America as of August 2025 [5] Partnership Details - The collaboration with Wild Bill's Tobacco aims to provide customers with easy access to Bitcoin while shopping, enhancing the customer experience [2][3] - Wild Bill's Tobacco, established in 1994, is the second largest tobacco retailer in the U.S. and has a strong presence in the Midwest with over 240 locations [6] Strategic Growth - The partnership is part of Bitcoin Depot's broader growth strategy, which includes multiple retail partnerships, asset acquisitions, and an enhanced compliance program in 2025 [3] - Bitcoin Depot has also expanded its operations into Hong Kong, indicating a strategic push into international markets [3]