Business
Bitcoin Depot Reports Preliminary Second Quarter Revenue; Sets 2Q23 Earnings Date and Provides 2023 Guidance
ATLANTA, July 21, 2023 (GLOBE NEWSWIRE) -- Bitcoin Depot Inc. (“Bitcoin Depot”), a U.S.-based Bitcoin ATM operator and leading fintech company, today reported
About this update from Bitcoin Depot Inc.
[{"type":"text","content":"ATLANTA, July 21, 2023 (GLOBE NEWSWIRE) -- Bitcoin Depot Inc. (“Bitcoin Depot”), a U.S.-based Bitcoin ATM operator and leading fintech company, today reported preliminary unaudited revenue results for the quarter ended June 30, 2023 and provided annual guidance for 2023. Based on preliminary unaudited results, Bitcoin Depot expects consolidated revenue for the quarter ended June 30, 2023 to range between $196 million and $198 million, a 17% to 18% improvement compared to $168 million in the second quarter of 2022. For full year 2023, based on current market conditions, Bitcoin Depot expects consolidated revenue to range between $700 million and $730 million, an 8% to 13% improvement compared to $647 million for full year 2022. For full year 2023, based on current market conditions, Bitcoin Depot expects Adjusted EBITDA (non-GAAP) to range between $56 million and $59 million, compared to full year 2022 when Bitcoin Depot generated net income of $3.5 million and Adjusted EBITDA of $41 million, representing a 37% to 44% increase in Adjusted EBITDA year over year. For important disclosures about Adjusted EBITDA, see “Explanation and Reconciliation of Non-GAAP Financial Measures” below. Brandon Mintz, CEO and Founder of Bitcoin Depot, commented, “We continue to see significant momentum in our business and are excited to provide annual guidance for 2023 which would represent our strongest year of performance to date. As we enter the second half of 2023 we remain well-positioned to execute on our mission to safely, securely and efficiently bring crypto to the masses.” Bitcoin Depot also recently posted an updated investor presentation to its investor relations website with financial results for the quarter ended March 31, 2023 and other developments. Bitcoin Depot expects to release financial results for the quarter ended June 30, 2023 before the market open on August 14, 2023, which will be available on Bitcoin Depot’s website at www.bitcoindepot.com. Until that time, the preliminary revenue results described in this press release are estimates only and are subject to revisions that could differ materially. Bitcoin Depot expects to host a conference call and live audio webcast to discuss second quarter 2023 financial and operating results and will provide the webcast information in a future press release. The preliminary results for t...