Bitcoin Depot Inc. Class A (BTM)

Bitcoin Depot's stock price has experienced a significant decline over the past six months. Key events impacting the stock include Q2 2025 earnings, where the company reported a 6% year-over-year revenue increase and a near threefold increase in net income, driven by robust consumer demand and kiosk optimization. Q3 2025 earnings showed a 20% increase in revenue from the previous year, with a 40% increase in gross profit and a 75% surge in adjusted EBITDA. Regulatory changes limiting transaction sizes in certain states contributed to a decline in revenue for the year ended December 31, 2024.

The demand for Bitcoin Depot's products and services is subject to typical seasonality. However, the available information does not provide specific details on the nature or patterns of this seasonality for the company's Bitcoin ATM and BDCheckout offerings. Factors such as regulatory developments, market demand for cryptocurrency, industry conditions, competition, and adoption trends are noted as influences on growth.

Bitcoin Depot, Inc. (BTM) facilitates the conversion of cash into cryptocurrency, specifically Bitcoin, operating within the Finance sector. The company provides users with simple, efficient, and intuitive means to access Bitcoin for payments, spending, and investing. Its major products include a network of Bitcoin ATMs (BTMs) and its BDCheckout product, allowing customers to buy and sell Bitcoin at kiosks in retail environments and load cash into their accounts at retail checkout counters to purchase Bitcoin.

Bitcoin Depot operates an extensive network of Bitcoin ATMs across North America, including the United States and Canada. The company also has a presence in Hong Kong and has recently expanded its international operations by deploying kiosks in Australia. As of March 31, 2025, Bitcoin Depot had 8,463 BTM Kiosks installed across the United States, Canada, and Puerto Rico. By Q3 2025, the company reported approximately 9,300 active kiosks and had deployed over 260 kiosks in Australia.

Bitcoin Depot positions itself as an industry leader driving global Bitcoin ATM growth, emphasizing proven profitability and strong margins with scalability. The company has focused on strengthening its compliance standards, including requiring customer identification for all transactions and introducing protections for seniors, which can positively impact its reputation. There were no specific events identified in the past year that negatively impacted Bitcoin Depot's brand reputation.

Bitcoin Depot's ownership structure includes both institutional and individual shareholders. Institutional ownership accounts for 33.41% of BTM, with major institutional owners including Welch Capital Partners Llc/ny, Renaissance Technologies Llc, and Vanguard Group Inc. Brandon Taylor Mintz, the Founder & Executive Chairman of the Board, is the largest individual shareholder. Insiders collectively own a significant portion of the company, with 92.71% insider ownership reported by one source.