Bitcoin Depot Inc. Class A (BTM)

Bitcoin Depot's stock experienced a substantial decline and a leadership transition occurred with Alex Holmes succeeding Scott Buchanan as Chairman and CEO. The company announced a delay in filing its 2025 Form 10-K and anticipated material control weaknesses. While Bitcoin Depot reported revenue growth in 2025, it also disclosed the loss of its partnership with Circle K. Management warned of a projected 2026 revenue drop. The Q4 2025 earnings call revealed a revenue decline for the quarter, attributed to recently enacted state regulations and the company accrued an $18.5 million arbitration judgment liability. To diversify its offerings, Bitcoin Depot launched ReadyBucks and acquired Kutt. A reverse stock split with a ratio of 1:7 was executed and the company's share price has exhibited volatility.

Bitcoin Depot's products and services experience demand seasonality, with the fourth fiscal quarter (Q4) historically being the weakest in terms of revenue compared to Q2 and Q3.

Bitcoin Depot, Inc. operates within the Financial Services sector and the Capital Markets industry, enabling individuals to convert cash into Bitcoin through Bitcoin ATMs (BTMs) and BDCheckout. Bitcoin ATMs are a large physical network of kiosks where customers can use cash to acquire Bitcoin, strategically located in high-traffic retail environments. BDCheckout allows users to convert cash to Bitcoin at thousands of name-brand retail locations. The company aims to provide simple, efficient, and intuitive ways for cash users to access Bitcoin for various purposes.

Bitcoin Depot operates its network across 47 U.S. states and has expanded into Canada, Australia, and Hong Kong. As of August 2025, Bitcoin Depot reported having over 9,000 kiosk locations globally and holds the largest market share in North America.

Bitcoin Depot was named one of America's Greatest Companies 2025 by Newsweek and Plant-A Insights Group in August 2025, highlighting its performance in employee satisfaction, customer experience, and long-term business growth. No specific negative events directly impacting its brand reputation, beyond general stock performance and financial warnings, were identified within the past year.

Approximately 45.19% of Bitcoin Depot's stock is held by institutional investors, 21.04% by insiders, and 33.78% by public companies and individual investors. Key institutional owners include Welch Capital Partners Llc/ny, Renaissance Technologies Llc, Owl Creek Asset Management, L.P., Vanguard Group Inc, Sabby Management, Llc, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., Two Sigma Investments, Lp, Geode Capital Management, Llc, Man Group plc, and Invesco Ltd. The largest individual shareholder is Brandon Taylor Mintz.