Bitcoin Depot Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data Bitcoin Depot Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2022	FY2023	FY2024	FY2025
Revenue	647	689	574	615
Cost of revenue	575	588	482	502
Gross profit	72.3	101	91.4	113
Selling, general and administrative	37	57.8	57.2	64.4
General and administrative	5.08
Operating expenses	55.8	70.6	67.2	72.1
Operating income	16.5	30.5	24.2	41.2
Other non-operating income	-12.6	-29	-14.3	-19.9
Pre-tax income	3.94	1.52	9.95	7
Income tax	0.4	0.05	2.14	2.29
Net income to minority interests	-0.43	14.7	19.5	10.9
Net income	0	-26.1	-11.7	-6.18
EBITDA	35.3	43.3	34.3	48.9
EPS, basic		-11.02	-4.21	-0.86
EPS, diluted		-11.02	-4.21	-0.86
Shares, basic (weighted)		2.38	2.77	7.15
Shares, diluted (weighted)		2.38	2.77	7.15

Balance sheet

	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	37.5	29.8	29.5	65.6
Receivables	0.26	0.25	0.28	0.64
Other current assets	0.69	1.18	1.25	1.28
Total current assets	40.4	34.2	34.3	80.3
Property, plant and equipment	38.7	24.9	26.8	26.2
Lease right-of-use assets	0.3	0.48	2.6	2.92
Goodwill	8.72	8.72	8.72	8.72
Intangible assets	0.54	0.71	2.32	0.8
Other non-current assets	14.4
Total assets	93.4	74.3	80.1	131
Accounts payable	8.12	8.34	11.6	10.7
Accrued liabilities	7.8	13.4	12	39.9
Deferred revenue	0.02	0.3	0.02	0.34
Total current liabilities	46.8	43	40.6	63.7
Long-term debt	29.5	17.1	49.5	53.5
Lease liabilities	0.25	0.32	1.77	1.61
Total liabilities	84	65	96.6	119
Total debt		22.5	56.2	60.5
Paid-in capital	0	17.3	21.5	62.6
Retained earnings	0	-32.7	-44.3	-49.6
Treasury stock	0	-0.28	-0.44	-0.44
Other comprehensive income	-0.18	-0.2	-0.34	-0.26
Shareholders' equity	-2.21
Total equity	9.44	9.37	-16.5	11.4
Total liabilities and equity	93.4	74.3	80.1	131

Cash flow statement

	FY2022	FY2023	FY2024	FY2025
Net income	3.55	1.47	7.81	4.71
Depreciation and amortization	18.8	12.8	10.1	7.67
Stock-based compensation	1.23	4.14	3.4	4.87
Deferred income tax	-0.25	-1.29	-1.58	-6.63
Change in receivables	-0.17	0.06	-0.03	-0.36
Change in payables	-1.91	-2.24	3.22	-0.89
Cash from operations	31.3	41.1	22.5	34
Capital expenditures	-1.11	-0.02	-10.8	-5.49
Purchases of investments	-321		-0.62	-8.47
Cash from investing	-3.11	-0.02	-11.4	-13.9
Stock issued	0		0	35.1
Share buybacks		-0.28	-0.16	0
Dividends paid	-11.4	-15	-37.2	-10.1
Cash from financing	-28.5	-48.9	-11.6	16.2
Exchange rate effect	-0.09	-0	0.12	-0.13
Net change in cash	-0.49	-7.78	-0.29	36.2
Free cash flow	30.1	41.1	11.8	28.5
Interest paid	10.8	10.1	9.93	10.9
Income taxes paid	0.12	0.37	4.24	9.65

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $0.02 on August 24, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	18.4%	Gross profit / revenue.
Operating margin	6.7%	Operating income / revenue.
EBITDA margin	8.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	1.1%	Pre-tax income / revenue.
Net margin	-1.0%	Net income / revenue.
FCF margin	4.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	5.5%	Cash from operations / revenue.
Effective tax rate	32.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	-5.9%	Net income / average total assets.
SG&A / revenue	10.5%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.9%	Capital expenditures / revenue.
D&A / revenue	1.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	7.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-1.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y	23.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	16.2%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income growth, 1y	70.2%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	35.6%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	42.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	11.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	50.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	2.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	141.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-1.9%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	63.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	11.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y	158.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.26x	Current assets / current liabilities.
Quick ratio	1.04x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.03x	(Cash + short-term investments) / current liabilities.
Debt / assets	46.3%	Total debt / total assets.
Liabilities / assets	91.3%	Total liabilities / total assets.
Net debt	-$5.1M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.11x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$16.7M	Current assets - current liabilities.
Goodwill and intangibles / assets	7.3%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	5.84x	Revenue / average total assets.
Fixed asset turnover	23.2x	Revenue / average property, plant and equipment.
Receivables turnover	1,345x	Revenue / average receivables.
Days sales outstanding	0 days	365 x average receivables / revenue.
Days payables	8 days	365 x average accounts payable / cost of revenue.
Capex / operating cash flow	16.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.86	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	-$0.86	Net income per basic share, as reported (split-adjusted).
Revenue per share	$86.02	Revenue / diluted weighted shares.
FCF per share	$3.99	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.75	Cash from operations / diluted weighted shares.
Cash per share	$9.18	(Cash + short-term investments) / shares outstanding.
Dividends / FCF	35.5%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	0.0%	Share buybacks / free cash flow, when free cash flow is positive.

What was Bitcoin Depot Inc.'s revenue in fiscal 2025?

Bitcoin Depot Inc. reported revenue of $614.9M for fiscal 2025, 7.2% higher than the year before.

Was Bitcoin Depot Inc. profitable in fiscal 2025?

No. It reported a net loss of $6.2M.

How much free cash flow did Bitcoin Depot Inc. generate in fiscal 2025?

Cash from operations of $34.0M minus capital expenditures of $5.5M left free cash flow of $28.5M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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