Business
Bitcoin Depot Reports Fourth Quarter and Full Year 2024 Financial Results
Q4 Revenue of $136.8 Million Compared to $148.4 Million in the Prior Year Quarter Q4 Operating Expenses Down 16% Year-Over-Year to $15.0 Million Q4 Net Income
About this update from Bitcoin Depot Inc.
[{"type":"text","content":"Q4 Revenue of $136.8 Million Compared to $148.4 Million in the Prior Year Quarter Q4 Operating Expenses Down 16% Year-Over-Year to $15.0 Million Q4 Net Income up Significantly to $5.4 Million Compared to a Net Loss of $1.7 Million in the Prior Year Quarter Q4 Adjusted Gross Profit up 18% Year-Over-Year to $25.4 Million Q4 Adjusted EBITDA up 34% Year-Over-Year to $12.0 Million ATLANTA, March 18, 2025 (GLOBE NEWSWIRE) -- Bitcoin Depot Inc. (“Bitcoin Depot” or the “Company”), a U.S.-based Bitcoin ATM operator and leading fintech company, today reported financial results for the fourth quarter and full year ended December 31, 2024. Bitcoin Depot will host a conference call and webcast at 10:00 a.m. ET today. An earnings presentation and link to the webcast will be made available at ir.bitcoindepot.com. \"As we highlighted in our fourth-quarter pre-announcement, 2024 ended on a strong note, driven by sequential revenue growth and substantial improvements in adjusted EBITDA, both sequentially and year-over-year,\" said Brandon Mintz, CEO and Founder of Bitcoin Depot. \"In the fourth quarter, we made significant progress in expanding our Bitcoin ATM network and optimizing existing machines to enhance profitability — and the results speak for themselves. \"Looking ahead, we are confident that the optimization efforts we implemented throughout 2024 will begin to positively impact our financial performance as we move through 2025. With our aggressive international and domestic kiosk expansion strategy, we anticipate that 2025 will mark a strong return to growth for the business. As part of this, we are reintroducing financial guidance, projecting robust growth in the first quarter. Additionally, we remain committed to leveraging our strong cash flow to drive shareholder value initiatives, including the potential for a cash dividend. We have also continued to strengthen our Bitcoin treasury holdings, recently increasing our total to 94 BTC, reflecting our confidence in Bitcoin as a valuable financial asset and an integral part of our business model.\" Fourth Quarter 2024 Financial Results Revenue in the fourth quarter of 2024 was $136.8 million compared to $148.4 million in the fourth quarter of 2023. This decline was driven by the impact of unfavorable legislation that was passed in California that went into effect in January 2024, along ...