Bitcoin Depot Reports First Quarter 2025 Financial Results
Bitcoin Depot Inc., a U.S.-based Bitcoin ATM operator and leading fintech company, has released its financial results for the first quarter of 2025. The company reported significant growth in several key financial metrics, reflecting a strong performance in the period ending March 31, 2025.
Financial Highlights
Bitcoin Depot's revenue for Q1 2025 increased by 19% year-over-year to $164.2 million, up from $138.5 million in Q1 2024. The company also reported a substantial turnaround in net income, achieving $12.2 million compared to a net loss of $4.2 million in the same quarter last year. Adjusted Gross Profit saw a remarkable 92% increase to $33.1 million, and Adjusted EBITDA surged by 315% to $20.3 million.
Business and Operational Highlights
The revenue growth was driven by increased kiosk deployment and higher median transaction sizes. Operating expenses declined by 7% to $15.3 million, attributed to lower depreciation and insurance costs. The company also strengthened its balance sheet by increasing its bitcoin holdings and cash balance, positioning itself for continued growth and flexibility.
Strategic Initiatives and Corporate Developments
Bitcoin Depot used $7.8 million in Q1 2025 to acquire 83 more Bitcoin, bringing its total holdings to 94.35 BTC. The company also reported a significant increase in cash flows from operations, which rose to $16.3 million from $1.3 million in Q1 2024.
Management's Perspective
Brandon Mintz, Founder and CEO of Bitcoin Depot, highlighted the company's strong performance and the effectiveness of its kiosk optimization strategy. He emphasized the company's focus on scaling responsibly both domestically and internationally while delivering sustained value to customers and shareholders.
Future Outlook
Looking ahead, Bitcoin Depot expects revenue in the second quarter of 2025 to grow in the low-to-mid-single digits on a percentage basis compared to Q2 2024. The company remains optimistic about its growth prospects and its ability to generate strong cash flows.
SEC Filing: Bitcoin Depot Inc. [ BTM ] - 8-K - May. 15, 2025