Bitcoin Depot ( (BTM) ) has released a notification of late filing.
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Bitcoin Depot Inc. has filed a Form 12b-25 after delaying its Form 10-K (Yearly Report) for the financial year ended December 31, 2025. The company’s annual Form 10-K (Yearly Report) is the specific filing affected by this notification of late filing.
Management says the delay stems from the need for more time to review and finalize the annual financial statements. The company also needs additional time for its independent registered public accounting firm to complete audit procedures before the Form 10-K (Yearly Report) can be submitted.
Bitcoin Depot expects to file the delayed Form 10-K (Yearly Report) on or before March 31, 2026. This fits within the 15-day extension window allowed when companies submit a Form 12b-25 for an annual report.
The company expects to disclose material weaknesses in internal control over financial reporting as of December 31, 2025, which means its controls and disclosure procedures were not effective. However, it states these weaknesses have not led to material misstatements in past financials and are not expected to change the numbers in the upcoming Form 10-K (Yearly Report).
Bitcoin Depot also reminds investors that unaudited results released on March 16, 2026 for the fourth quarter and full year 2025 are preliminary and may change as audits conclude. These remarks are framed as forward-looking statements, subject to risks and uncertainties until the final Form 10-K (Yearly Report) is filed.
The company notes that all other required periodic SEC reports over the past 12 months have been filed on time. It further indicates there is no expectation of a significant change in results of operations compared with the prior year in the forthcoming Form 10-K (Yearly Report).
Bitcoin Depot emphasizes continued work to complete its year-end close process, remediate internal control weaknesses, and stay compliant with SEC requirements. The notification is signed on March 17, 2026, by Chief Executive Officer Scott Buchanan, confirming the company’s authorization of the filing.
The most recent analyst rating on (BTM) stock is a Sell with a $4.00 price target. To see the full list of analyst forecasts on Bitcoin Depot stock, see the BTM Stock Forecast page.
Spark’s Take on BTM Stock
According to Spark, TipRanks’ AI Analyst, BTM is a Neutral.
The score is held down primarily by weak financial quality (ongoing net losses and high leverage) and bearish technicals (price far below major moving averages with negative MACD). A high P/E with no dividend support and challenging 2026 guidance (30%–40% expected core revenue decline) further pressure the outlook, partially offset by positive free cash flow and improved operating profitability.
To see Spark’s full report on BTM stock, click here.
More about Bitcoin Depot
Average Trading Volume: 149,311
Technical Sentiment Signal: Sell
Current Market Cap: $42.22M
For detailed information about BTM stock, go to TipRanks’ Stock Analysis page.