Strong Revenue and Profit Growth
Bitcoin Depot reported a 6% increase in revenue year-over-year, with net income nearly tripling to $12.3 million. Gross profit increased by 32% and adjusted EBITDA rose by 46% to $18.5 million.
Successful Kiosk Optimization Strategy
The company's kiosk optimization plan contributed to a 30% increase in median transaction size and steady growth in total transaction volume to $172.1 million.
International Expansion
Bitcoin Depot deployed over 200 kiosks in Australia and is exploring entry into two additional countries in 2025.
Operational and Financial Efficiency
Operating expenses declined by 9%, and the company simplified its corporate structure, reducing its effective cash tax rate by roughly 12%.
Strategic M&A Activities
Bitcoin Depot acquired Pelicoin, enhancing its presence in the Gulf South and consolidating the market.