Bitcoin Depot Reports Strong Preliminary Fourth Quarter 2024 Results
Bitcoin Depot, a U.S.-based Bitcoin ATM operator, announced preliminary financial results for Q4 2024. The company expects revenue to range between $135 million and $137 million, compared to $135.3 million in Q3 2024 and $148.4 million in Q4 2023.
Adjusted EBITDA is anticipated to be between $11 million and $13 million, marking an increase of 22% to 44% compared to $9 million in Q4 2023 and 19% to 41% compared to $9.2 million in Q3 2024.
CEO Brandon Mintz highlighted the sequential revenue growth and substantial improvements in adjusted EBITDA, attributed to the expansion of the BTM network and enhanced kiosk profitability. He expressed optimism for 2025, citing a favorable cryptocurrency market environment.
The results are preliminary, unaudited, and based on the company's estimates, with final results expected in March.
Bitcoin Depot, un operatore di Bitcoin ATM con sede negli Stati Uniti, ha annunciato i risultati finanziari preliminari per il quarto trimestre del 2024. L'azienda prevede che i ricavi si aggireranno tra i 135 milioni e i 137 milioni di dollari, rispetto ai 135,3 milioni di dollari del terzo trimestre 2024 e ai 148,4 milioni di dollari del quarto trimestre 2023.
È prevista una EBITDA rettificata tra gli 11 milioni e i 13 milioni di dollari, segnando un aumento del 22% al 44% rispetto ai 9 milioni di dollari del quarto trimestre 2023 e del 19% al 41% rispetto ai 9,2 milioni di dollari del terzo trimestre 2024.
Il CEO Brandon Mintz ha evidenziato la crescita sequenziale dei ricavi e i significativi miglioramenti dell'EBITDA rettificata, attribuiti all'espansione della rete BTM e all'aumento della redditività dei chioschi. Ha espresso ottimismo per il 2025, citando un ambiente di mercato favorevole per le criptovalute.
I risultati sono preliminari, non sono stati verificati e sono basati sulle stime dell'azienda, con risultati finali attesi per marzo.
Bitcoin Depot, un operador de cajeros automáticos de Bitcoin con sede en EE. UU., anunció resultados financieros preliminares para el cuarto trimestre de 2024. La compañía espera que los ingresos oscilen entre 135 millones y 137 millones de dólares, en comparación con 135.3 millones de dólares en el tercer trimestre de 2024 y 148.4 millones de dólares en el cuarto trimestre de 2023.
El EBITDA ajustado se anticipa que estará entre 11 millones y 13 millones de dólares, marcando un aumento del 22% al 44% en comparación con los 9 millones de dólares del cuarto trimestre de 2023 y del 19% al 41% en comparación con los 9.2 millones de dólares del tercer trimestre de 2024.
El CEO Brandon Mintz destacó el crecimiento secuencial de los ingresos y las mejoras sustanciales en el EBITDA ajustado, atribuidas a la expansión de la red BTM y a una mayor rentabilidad de los quioscos. Expresó optimismo para 2025, citando un entorno de mercado de criptomonedas favorable.
Los resultados son preliminares, no auditados y se basan en las estimaciones de la empresa, con resultados finales esperados para marzo.
비트코인 디포(Bitcoin Depot)는 미국에 본사를 둔 비트코인 ATM 운영업체로, 2024년 4분기 잠정 재무 결과를 발표했습니다. 회사는 수익이 1억 3,500만 달러에서 1억 3,700만 달러 사이에 이를 것으로 예상하고 있으며, 이는 2024년 3분기 1억 3,530만 달러, 2023년 4분기 1억 4,840만 달러와 비교됩니다.
조정 EBITDA(Earnings Before Interest, Taxes, Depreciation, and Amortization)는 1,100만 달러에서 1,300만 달러 사이가 될 것으로 예상되며, 이는 2023년 4분기 900만 달러에 비해 22%에서 44% 증가하고, 2024년 3분기 920만 달러에 비해 19%에서 41% 증가하는 수치입니다.
CEO 브랜든 민츠(Brandon Mintz)는 순차적인 수익 성장과 조정 EBITDA의 상당한 개선을 강조했으며, 이는 BTM 네트워크의 확장과 키오스크 수익성 향상 덕분이라고 설명했습니다. 그는 2025년에 대한 긍정적인 전망을 내놓으며, 유리한 암호화폐 시장 환경을 언급했습니다.
결과는 잠정적이며, 감사되지 않았고 회사의 추정치를 바탕으로 하며, 최종 결과는 3월에 발표될 예정입니다.
Bitcoin Depot, un opérateur de distributeurs automatiques de Bitcoin basé aux États-Unis, a annoncé des résultats financiers préliminaires pour le quatrième trimestre 2024. L'entreprise s'attend à ce que les revenus se situent entre 135 millions et 137 millions de dollars, comparativement à 135,3 millions de dollars au troisième trimestre 2024 et 148,4 millions de dollars au quatrième trimestre 2023.
Le résultat EBITDA ajusté devrait se situer entre 11 millions et 13 millions de dollars, marquant une augmentation de 22 % à 44 % par rapport à 9 millions de dollars au quatrième trimestre 2023 et de 19 % à 41 % par rapport à 9,2 millions de dollars au troisième trimestre 2024.
Le PDG Brandon Mintz a souligné la croissance séquentielle des revenus et les améliorations substantielles du résultat EBITDA ajusté, attribuées à l'expansion du réseau BTM et à la rentabilité accrue des kiosques. Il a exprimé son optimisme pour 2025, citant un environnement de marché de cryptomonnaies favorable.
Les résultats sont préliminaires, non vérifiés et basés sur les estimations de l'entreprise, les résultats finaux étant attendus en mars.
Bitcoin Depot, ein in den USA ansässiger Betreiber von Bitcoin-Geldautomaten, hat vorläufige finanzielle Ergebnisse für das 4. Quartal 2024 bekannt gegeben. Das Unternehmen erwartet, dass die Umsätze zwischen 135 Millionen und 137 Millionen US-Dollar liegen werden, im Vergleich zu 135,3 Millionen US-Dollar im 3. Quartal 2024 und 148,4 Millionen US-Dollar im 4. Quartal 2023.
Das bereinigte EBITDA wird voraussichtlich zwischen 11 Millionen und 13 Millionen US-Dollar liegen, was einen Anstieg von 22% bis 44% im Vergleich zu 9 Millionen US-Dollar im 4. Quartal 2023 und von 19% bis 41% im Vergleich zu 9,2 Millionen US-Dollar im 3. Quartal 2024 darstellt.
CEO Brandon Mintz hob das sequenzielle Umsatzwachstum und die erheblichen Verbesserungen beim bereinigten EBITDA hervor, die auf die Erweiterung des BTM-Netzwerks und die gesteigerte Rentabilität der Kioske zurückzuführen sind. Er äußerte Optimismus für 2025 und verwies auf ein günstiges Marktumfeld für Kryptowährungen.
Die Ergebnisse sind vorläufig, nicht geprüft und basieren auf den Schätzungen des Unternehmens, während die endgültigen Ergebnisse im März erwartet werden.
- Adjusted EBITDA increased by 22% to 44% YoY.
- Sequential revenue growth from Q3 2024.
- Improved kiosk profitability.
- Revenue decreased compared to Q4 2023.
Insights
Bitcoin Depot's Q4 preliminary results reveal a complex financial picture. Revenue is expected between
Looking deeper, the BTM network expansion coupled with improved kiosk profitability suggests successful operational optimization. The company is effectively generating more profit from each dollar of revenue, indicating enhanced operational efficiency and possibly better cost management. The declining revenue but expanding EBITDA margins point to a strategic pivot toward profitability over pure growth - a prudent move for a maturing fintech company.
For retail investors wondering about the bigger picture: Think of this like a retail store chain that's making more money from existing locations rather than just opening new stores. They're working smarter, not just bigger.
The preliminary results should be viewed within the broader crypto market context. The company's ability to maintain stable revenue despite historical crypto market volatility demonstrates operational resilience. The reference to a "more favorable cryptocurrency market environment" for 2025 aligns with current market sentiment, particularly considering Bitcoin's recent performance and the anticipated Bitcoin halving event.
The BTM network's expansion strategy positions Bitcoin Depot to capitalize on increased retail crypto adoption. Their focus on kiosk profitability suggests they're optimizing their network based on usage patterns and location performance - critical for sustainable growth in the crypto infrastructure space.
In simple terms: They're building a stronger foundation while the crypto market is heating up, which could be like having more gas stations ready just as more people start driving electric cars.
Q4 2024 Results Signal Strength and Momentum for 2025
ATLANTA, Jan. 21, 2025 (GLOBE NEWSWIRE) -- Bitcoin Depot Inc. (“Bitcoin Depot” or the “Company”), a U.S.-based Bitcoin ATM operator and leading fintech company, today announced certain preliminary financial results for the fourth quarter ended December 31, 2024.
The Company expects revenue to range between
“We ended 2024 on a strong note, with an anticipated uptick in sequential revenue and significant improvements in adjusted EBITDA on both a sequential and year-over-year basis,” said Brandon Mintz, CEO and Founder of Bitcoin Depot. “This performance reflects the expansion of our BTM network and our progress in improving kiosk profitability. The strength of our fourth quarter positions us well for a rebound in 2025, supported by the overall health of our business and a more favorable cryptocurrency market environment.”
The financial results for the fourth quarter ended December 31, 2024, included in this release are preliminary, have not been reviewed or audited, are based upon the Company’s estimates, and were prepared prior to the completion of the company's financial statement close process. The preliminary financial results should not be viewed as a substitute for the Company’s full fourth quarter results and do not present all information necessary for an understanding of the Company’s financial performance. Accordingly, undue reliance should not be placed on this preliminary data. Bitcoin Depot plans to release its fully audited fourth-quarter and full-year 2024 financial results in March.
About Bitcoin Depot
Bitcoin Depot Inc. (Nasdaq: BTM) was founded in 2016 with the mission to connect those who prefer to use cash to the broader, digital financial system. Bitcoin Depot provides its users with simple, efficient and intuitive means of converting cash into Bitcoin, which users can deploy in the payments, spending and investing space. Users can convert cash to bitcoin at Bitcoin Depot kiosks in 48 states and at thousands of name-brand retail locations in 29 states through its BDCheckout product. The Company has the largest market share in North America with approximately 8,400 kiosk locations as of December 31, 2024. Learn more at www.bitcoindepot.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release and any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. Forward-looking statements are any statements other than statements of historical fact, and include, but are not limited to, statements regarding the expectations of plans, business strategies, objectives and growth and anticipated financial and operational performance, including our growth strategy and ability to increase deployment of our products and services, our ability to strengthen our financial profile, and worldwide growth in the adoption and use of cryptocurrencies. These forward-looking statements are based on management’s current beliefs, based on currently available information, as to the outcome and timing of future events. Forward-looking statements are often identified by words such as “anticipate,” “appears,” “approximately,” “believe,” “continue,” “could,” “designed,” “effect,” “estimate,” “evaluate,” “expect,” “forecast,” “goal,” “initiative,” “intend,” “may,” “objective,” “outlook,“ ”plan,“ ”potential,“ ”priorities,“ ”project,“ ”pursue,“ ”seek,“ ”should,“ ”target,“ ”when,“ ”will,“ ”would,” or the negative of any of those words or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future events or financial results. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond our control.
These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; failure to realize the anticipated benefits of the business combination; risks relating to the uncertainty of our projected financial information; future global, regional or local economic and market conditions; the development, effects and enforcement of laws and regulations; our ability to manage future growth; our ability to develop new products and services, bring them to market in a timely manner and make enhancements to our platform; the effects of competition on our future business; our ability to issue equity or equity-linked securities; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; and those factors described or referenced in filings with the Securities and Exchange Commission. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that we do not presently know or that we currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect our expectations, plans or forecasts of future events and views as of the date of this press release. We anticipate that subsequent events and developments will cause our assessments to change.
We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement.
Use of non-GAAP Financial Measures
This press release includes preliminary Adjusted EBITDA results for the fourth quarter ended December 31, 2025. Adjusted EBITDA is a non-GAAP. Bitcoin Depot defines Adjusted EBITDA as net income before interest expense, income tax expense, depreciation and amortization, non-recurring expenses, share-based compensation, expenses related to the PIPE financing and miscellaneous cost adjustments. Such items are excluded from Adjusted EBITDA because these items are non-cash in nature, or because the amount and timing of these items is unpredictable, not driven by core results of operations and renders comparisons with prior periods and competitors less meaningful. Bitcoin Depot believes Adjusted EBITDA provides useful information to investors and others in understanding and evaluating Bitcoin Depot’s results of operations, as well as provides a useful measure for period-to-period comparisons of Bitcoin Depot’s business performance. Adjusted EBITDA is a key measurements used internally by management to make operating decisions, including those related to operating expenses, evaluate performance and perform strategic and financial planning. However, you should be aware that Adjusted EBITDA may exclude items that are significant in understanding and assessing Bitcoin Depot’s financial results, and further, that Bitcoin Depot may incur future expenses similar to those excluded when calculating this measures. Bitcoin Depot primarily relies on GAAP results and relies on Adjusted EBITDA and other non-GAAP measures on a supplemental basis. No such measure should be considered in isolation from, or as an alternative to, net income, cash flows from operations or other measures of profitability, liquidity or performance under GAAP and may not be indicative of Bitcoin Depot’s historical or future operating results. Bitcoin Depot’s computation of Adjusted EBITDA may not be comparable to other similarly titled measures computed by other companies because not all companies calculate such measures in the same fashion. As such, undue reliance should not be placed on such measures. Due to some of the information excluded from Adjusted EBITDA calculation being non-ascertainable or non-accessible until the financial close is complete, Bitcoin Depot is unable to quantify certain amounts that would be required to be included in the most directly comparable GAAP financial measures without unreasonable effort. Consequently, no disclosure of estimated comparable GAAP measures is included and no reconciliation of the non-GAAP financial measures is included.
Contacts:
Investors
Cody Slach
Gateway Group, Inc.
949-574-3860
BTM@gateway-grp.com
Media
Brenlyn Motlagh, Ryan Deloney
Gateway Group, Inc.
949-574-3860
BTM@gateway-grp.com
FAQ
What are Bitcoin Depot's preliminary Q4 2024 revenue results?
How does Bitcoin Depot's Q4 2024 revenue compare to Q3 2024?
How did Bitcoin Depot's Q4 2024 revenue compare to Q4 2023?
What is Bitcoin Depot's expected adjusted EBITDA for Q4 2024?
How does Bitcoin Depot's Q4 2024 adjusted EBITDA compare to Q4 2023?
When will Bitcoin Depot release its full Q4 2024 financial results?
What factors contributed to Bitcoin Depot's improved Q4 2024 results?
