Bitcoin Depot (BTM) AI Stock Analysis

• Market Cap: $208.80M
• Dividend Yield: N/A
• Average Volume (3M): 1.91M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.66
• Revenue Growth: -3.35%
• EPS Growth: 99.18%
• Country: US
• Employees: 126
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 0.16
• Shares Outstanding: 32,847,843
• 10 Day Avg. Volume: 1,505,715
• 30 Day Avg. Volume: 1,908,856
• PEG Ratio: 0.04
• Price to Book (P/B): -1.33
• Price to Sales (P/S): 0.05
• P/FCF Ratio: 2.66
• Enterprise Value/Market Cap: 0.98
• Enterprise Value/Revenue: 0.34
• Enterprise Value/Gross Profit: 1.80
• Enterprise Value/Ebitda: 3.48
• 1Y Price Target: $7.50
• Price Target Upside: 165.96% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 56 Neutral
• Price Target: $3.50 ▲(24.11% Upside)

Bitcoin Depot's overall stock score is primarily influenced by its strong financial performance in terms of revenue growth and cash management, as well as positive outcomes from its latest earnings call. However, the stock's technical indicators and valuation present significant concerns, with bearish momentum and a negative P/E ratio. These factors, combined with high leverage and profitability challenges, result in a moderate overall stock score.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective business strategies, positioning Bitcoin Depot for continued expansion.

International Expansion

International expansion efforts, such as deploying kiosks in Australia, enhance Bitcoin Depot's global footprint and growth potential.

Strategic Partnership

The partnership with IGA expands Bitcoin Depot's reach, increasing customer access and potentially boosting transaction volumes.

Negative Factors

High Leverage

High leverage poses financial risks, potentially limiting flexibility and increasing vulnerability to economic downturns.

Profitability Challenges

Low profitability despite revenue growth suggests inefficiencies in cost management, impacting long-term financial health.

Regulatory Challenges

Regulatory hurdles in key markets like California can restrict operational growth and require strategic adjustments.

Bitcoin Depot Business Overview & Revenue Model

Company Description

Bitcoin Depot is a leading cryptocurrency ATM provider that focuses on making digital currencies accessible to the general public. Operating in the fintech sector, Bitcoin Depot specializes in the deployment of Bitcoin ATMs (BTMs) across various locations, allowing users to easily buy and sell Bitcoin and other cryptocurrencies using cash or debit cards. The company aims to simplify the process of cryptocurrency transactions, catering to both new and experienced users by providing a user-friendly interface and a network of conveniently located machines.

How the Company Makes Money

Bitcoin Depot generates revenue primarily through transaction fees charged on each cryptocurrency purchase and sale made at its Bitcoin ATMs. When customers buy Bitcoin, they pay a premium over the market price, which includes the transaction fee. Additionally, the company earns revenue from selling Bitcoin to customers at a markup, which is factored into the price of the cryptocurrency. Key revenue streams also include partnerships with retail locations where the BTMs are installed, as these partnerships often involve revenue-sharing agreements. Furthermore, Bitcoin Depot may benefit from increased transaction volumes during market surges, as heightened interest in cryptocurrency often leads to more transactions at their ATMs.

Bitcoin Depot Financial Statement Overview

Summary

Bitcoin Depot shows strong revenue growth and improved operational margins, but faces challenges in profitability and financial stability due to high leverage. The cash flow position is robust, indicating effective cash management. The company needs to focus on improving profitability and reducing financial risk to enhance its overall financial health.

Income Statement

Bitcoin Depot shows a mixed performance in its income statement. The company has achieved a significant revenue growth rate of 150.9% in the TTM period, indicating strong top-line expansion. However, the net profit margin remains low at 0.44%, suggesting challenges in translating revenue growth into profitability. The gross profit margin has improved to 18.69%, reflecting better cost management. EBIT and EBITDA margins have also improved, indicating operational efficiency gains.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio of 33.31, indicating significant leverage, which poses financial risk. The return on equity is negative, reflecting challenges in generating returns for shareholders. The equity ratio is low, suggesting a heavy reliance on debt financing. Overall, the balance sheet indicates financial instability and potential risk due to high leverage.

Cash Flow

Cash flow analysis shows positive trends, with a free cash flow growth rate of 9.3% in the TTM period, indicating improved cash generation. The operating cash flow to net income ratio is 0.84, suggesting strong cash conversion. The free cash flow to net income ratio is 0.79, indicating efficient cash utilization. Overall, the cash flow statement reflects strong cash management and liquidity.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	608.43M	573.70M	688.97M	646.83M	548.98M	245.13M
Gross Profit	113.69M	91.44M	101.03M	72.30M	56.03M	31.09M
EBITDA	58.88M	34.22M	26.23M	35.04M	26.79M	17.38M
Net Income	2.68M	-11.69M	-26.10M	3.98M	5.94M	14.41M
Balance Sheet
Total Assets	109.05M	80.10M	77.38M	93.40M	108.33M	53.06M
Cash, Cash Equivalents and Short-Term Investments	59.60M	30.98M	30.47M	38.08M	38.03M	41.15M
Total Debt	71.83M	63.51M	31.33M	62.62M	69.31M	29.38M
Total Liabilities	104.36M	96.59M	68.00M	83.96M	89.35M	33.76M
Stockholders Equity	2.16M	-23.63M	-15.81M	7.21M	17.54M	19.30M
Cash Flow
Free Cash Flow	29.40M	11.79M	41.08M	30.14M	15.35M	16.90M
Operating Cash Flow	37.47M	22.54M	41.10M	31.25M	23.28M	18.28M
Investing Cash Flow	-17.34M	-11.37M	-22.00K	-3.11M	-19.32M	-1.38M
Financing Cash Flow	-15.99M	-11.58M	-48.86M	-28.54M	-7.02M	17.66M

Bitcoin Depot Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.82
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BTM, the sentiment is Negative. The current price of 2.82 is below the 20-day moving average (MA) of 3.07, below the 50-day MA of 3.45, and below the 200-day MA of 3.08, indicating a bearish trend. The MACD of -0.25 indicates Negative momentum. The RSI at 35.61 is Neutral, neither overbought nor oversold. The STOCH value of 48.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BTM.

Bitcoin Depot Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	―	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
FUFU	―	$562.72M	12.23	30.23%	―	39.84%	-10.81%
BTBT	―	$1.21B	―	-11.34%	―	14.65%	-240.80%
BTM	―	$208.80M	―	―	―	-3.35%	99.18%
GREE	―	$29.78M	-1.21	―	―	-18.74%	39.95%
LGHL	―	$847.77K	>-0.01	―	―	-123.11%	56.36%
ARBK	―	$29.59M	-0.51	―	―	-13.86%	-32.19%

Bitcoin Depot Corporate Events

Bitcoin Depot Secures $13.8M Through Stock Offering

On October 6, 2025, Bitcoin Depot Inc. entered into a securities purchase agreement with institutional investors to sell 4,285,716 shares of its Class A common stock at $3.50 per share in a registered direct offering, expected to close around October 8, 2025. The company anticipates net proceeds of approximately $13.8 million, which will be used for general corporate purposes, potentially impacting its operational capabilities and market positioning.

The most recent analyst rating on (BTM) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on Bitcoin Depot stock, see the BTM Stock Forecast page.

Bitcoin Depot Inc. Reports Strong Earnings and Growth

The recent earnings call for Bitcoin Depot Inc. painted a largely positive picture, highlighting strong revenue and profit growth, successful strategic initiatives, and operational improvements. Despite these achievements, the company acknowledged ongoing challenges, particularly with seasonal revenue fluctuations and regulatory hurdles in California.

Bitcoin Depot Appoints Alex Holmes to Board

On August 20, 2025, Bitcoin Depot Inc. appointed Alex Holmes to its Board of Directors, filling the vacancy left by Tim Vanderham’s resignation. Holmes, who has extensive experience in the financial and crypto sectors, is also joining the Board’s Audit Committee, meeting Nasdaq’s standards for an independent director. His past leadership roles include transforming MoneyGram International into a global fintech leader and pioneering blockchain adoption, which positions him as a strategic asset for Bitcoin Depot’s future endeavors.

The most recent analyst rating on (BTM) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on Bitcoin Depot stock, see the BTM Stock Forecast page.

Bitcoin Depot Inc. Reports Strong Q2 2025 Results

Bitcoin Depot Inc., a prominent U.S.-based Bitcoin ATM operator, facilitates the conversion of cash to Bitcoin, serving as a bridge to the digital financial system with over 8,800 kiosks across North America.