Bitcoin Depot (NASDAQ:BTM) Issues Quarterly Earnings Results

Bitcoin Depot (NASDAQ:BTM) released its earnings results on Monday. The company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.71), Zacks reports. The business had revenue of $116.04 million for the quarter, compared to the consensus estimate of $113.93 million. Bitcoin Depot had a negative return on equity of 81.99% and a negative net margin of 0.94%.

Here are the key takeaways from Bitcoin Depot’s conference call:

• Full-year strength: 2025 revenue rose 7% to $615M with 9,721 installed kiosks (+15%), median transaction size up 43% to $400, and adjusted EBITDA up 42% to $56.4M, showing operating leverage across the business.
• Fourth-quarter results weakened: Q4 revenue fell to $116M (from $136.8M), gross profit and margins declined, and GAAP net loss was $24.9M that included an $18.5M arbitration accrual.
• 2026 outlook is cautious: management expects a 30%–40% revenue decline next year due to state transaction caps and enhanced compliance, with the kiosk fleet likely flat or modestly down and a focus on cost containment.
• Diversification push: the company acquired Kutt (P2P social betting) and launched ReadyBucks (small-business cash advances) to broaden revenue streams, though management does not expect these to be material to 2026 revenue.
• Stronger liquidity and funding: cash, cash equivalents, and crypto rose to $76.6M (from $31.0M) after a $15M registered direct offering and $34M of operating cash flow in 2025, while total debt remains modest at $62.5M (including profit-share liabilities).

Bitcoin Depot Stock Up 0.7%

Shares of NASDAQ:BTM opened at $4.06 on Wednesday. Bitcoin Depot has a 52-week low of $3.75 and a 52-week high of $48.16. The company has a market capitalization of $42.26 million, a PE ratio of 2.14 and a beta of 0.96. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.88 and a current ratio of 1.88. The company has a fifty day moving average of $6.67 and a 200-day moving average of $13.64.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. B. Riley Financial boosted their price target on Bitcoin Depot to $4.20 and gave the stock a “neutral” rating in a report on Tuesday. Noble Financial reiterated an “outperform” rating on shares of Bitcoin Depot in a research report on Tuesday. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Bitcoin Depot in a research note on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $28.23.

Institutional Investors Weigh In On Bitcoin Depot

A number of hedge funds and other institutional investors have recently bought and sold shares of BTM. Geode Capital Management LLC raised its position in Bitcoin Depot by 35.9% in the second quarter. Geode Capital Management LLC now owns 171,606 shares of the company’s stock valued at $870,000 after purchasing an additional 45,300 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Bitcoin Depot during the second quarter worth about $51,000. JPMorgan Chase & Co. increased its stake in shares of Bitcoin Depot by 591,055.6% in the second quarter. JPMorgan Chase & Co. now owns 159,612 shares of the company’s stock valued at $809,000 after buying an additional 159,585 shares during the period. Heron Bay Capital Management bought a new position in Bitcoin Depot in the 2nd quarter valued at approximately $327,000. Finally, XTX Topco Ltd acquired a new stake in Bitcoin Depot during the 2nd quarter worth approximately $288,000. Institutional investors own 9.18% of the company’s stock.

Bitcoin Depot Company Profile

Bitcoin Depot, Inc operates one of the largest networks of self-service cryptocurrency kiosks in North America, enabling customers to buy and sell Bitcoin and other digital assets using cash or debit cards. Through a partnership model with convenience stores, gas stations and retail outlets, the company provides an accessible on-ramp and off-ramp for individuals entering the cryptocurrency market without requiring a bank account or extensive technical knowledge. Transactions are completed in real time at the point of sale, with verification and receipt provided via email or mobile phone.

Founded in 2016 and headquartered in Atlanta, Georgia, Bitcoin Depot began as a privately held startup focused on expanding retail access to digital currencies.