Bitcoin Depot expects 18% revenue growth in third quarter

ATLANTA - Bitcoin ATM operator Bitcoin Depot Inc. (NASDAQ:BTM) announced Wednesday preliminary financial results for the third quarter ended September 30, 2025, projecting revenue of approximately $160 million, an 18% increase from $135.3 million in the same period last year. The company, which trades at a P/E ratio of 28.46, has shown strong momentum with a market capitalization of $367 million.

The company also anticipates reporting about a 50% increase in adjusted EBITDA compared to the $9.2 million reported in the third quarter of 2024.

"Our growth reflects not only the strength of our BTM network and disciplined execution, but also the ongoing consumer adoption of cryptocurrency which led to kiosk performance exceeding expectations," said Brandon Mintz, Founder and CEO of Bitcoin Depot, in a press release statement. The company’s performance has impressed investors, with the stock delivering a remarkable 136% return over the past six months. InvestingPro analysis suggests the company is currently trading below its Fair Value, with additional insights available through their comprehensive research reports.

Bitcoin Depot operates over 9,000 kiosk locations across North America as of August 2025, with Bitcoin ATMs in 47 states and its BDCheckout product available at retail locations in 31 states.

The company noted that these preliminary results have not been reviewed or audited and were prepared before completing its financial statement close process. Bitcoin Depot plans to release fully audited third quarter financial results in November.

Founded in 2016, Bitcoin Depot provides services that allow cash users to convert physical currency to Bitcoin at kiosks and retail locations. The company describes itself as having the largest market share in North America for such services.

The preliminary financial results exceed the company’s previous guidance for both revenue and adjusted EBITDA for the quarter, according to the statement.

In other recent news, Bitcoin Depot Inc. has made several significant announcements. The company reported a change in leadership, appointing Scott Buchanan as president while he continues his roles as chief operating officer and board director. Additionally, Bitcoin Depot disclosed a previously omitted executive trading plan, allowing CEO Brandon Mintz to sell up to 8 million shares of Class A Common Stock by May 31, 2026. Furthermore, the company welcomed Alex Holmes, former CEO of MoneyGram International, to its board of directors and audit committee.

Holmes’ appointment fills a vacancy left by Tim Vanderham’s resignation. In analyst updates, H.C. Wainwright raised its price target for Bitcoin Depot to $6.50, maintaining a Buy rating, while adjusting its 2025 revenue estimate to $630.0 million due to slightly lower kiosk transaction revenues. These developments reflect Bitcoin Depot’s ongoing adjustments and strategic moves within the company.

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