Bitcoin Depot Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Bitcoin Depot has an operating margin of 4.2%, meaning the company retains $4 of operating profit per $100 of revenue. This below-average margin results in a low score of 21/100, suggesting thin profitability after operating expenses. This is down from 4.4% the prior year.
Bitcoin Depot's revenue declined 16.7% year-over-year, from $689.0M to $573.7M. This contraction results in a growth score of 0/100.
Bitcoin Depot's current ratio of 0.84 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 14/100, which could limit financial flexibility.
Bitcoin Depot's free cash flow margin of 2.1% results in a low score of 10/100. Capital expenditures of $10.8M absorb a large share of operating cash flow.
Bitcoin Depot passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Bitcoin Depot generates $-1.93 in operating cash flow ($22.5M OCF vs -$11.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Bitcoin Depot earns $1.7 in operating income for every $1 of interest expense ($24.2M vs $14.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
This page shows Bitcoin Depot (BTMWW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Bitcoin Depot generated $573.7M in revenue in fiscal year 2024. This represents a decrease of 16.7% from the prior year.
Bitcoin Depot's EBITDA was $34.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 20.8% from the prior year.
Bitcoin Depot generated $11.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 71.3% from the prior year.
Bitcoin Depot reported -$11.7M in net income in fiscal year 2024. This represents an increase of 55.2% from the prior year.
Bitcoin Depot earned $-0.60 per diluted share (EPS) in fiscal year 2024. This represents an increase of 61.8% from the prior year.
Bitcoin Depot held $29.5M in cash against $56.2M in long-term debt as of fiscal year 2024.
Bitcoin Depot's gross margin was 15.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.3 percentage points from the prior year.
Bitcoin Depot's operating margin was 4.2% in fiscal year 2024, reflecting core business profitability. This is down 0.2 percentage points from the prior year.
Bitcoin Depot's net profit margin was -2.0% in fiscal year 2024, showing the share of revenue converted to profit. This is up 1.8 percentage points from the prior year.
Bitcoin Depot spent $158K on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 43.4% from the prior year.
Bitcoin Depot invested $10.8M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 48763.6% from the prior year.
BTMWW Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $162.5M-5.6% | $172.1M+4.8% | $164.2M+20.0% | $136.8M-16.1% | $163.1M+17.7% | $138.5M-6.6% | $148.4M-17.3% | $179.5M |
| Cost of Revenue | $132.4M-5.0% | $139.4M+6.3% | $131.1M+17.7% | $111.4M-18.5% | $136.7M+12.7% | $121.3M-4.4% | $126.9M-16.8% | $152.5M |
| Gross Profit | $30.1M-7.9% | $32.7M-1.2% | $33.1M+30.4% | $25.4M-3.6% | $26.4M+52.8% | $17.3M-20.0% | $21.6M-20.0% | $26.9M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $16.4M+8.8% | $15.1M+12.4% | $13.4M+2.6% | $13.1M-16.9% | $15.8M+15.8% | $13.6M-6.3% | $14.5M-10.6% | $16.2M |
| Operating Income | $11.8M-25.2% | $15.7M-11.5% | $17.8M+70.7% | $10.4M+37.1% | $7.6M+987.8% | $699K-81.6% | $3.8M-48.9% | $7.4M |
| Interest Expense | -$4.1M+12.5% | -$4.7M-54.0% | -$3.1M+11.5% | -$3.5M-20.4% | -$2.9M+41.7% | -$4.9M-173.8% | -$1.8M+34.8% | -$2.8M |
| Income Tax | $3.0M+161.8% | $1.2M-20.0% | $1.5M-12.5% | $1.7M+514.4% | $270K+295.7% | -$138K-113.5% | $1.0M+204.5% | $337K |
| Net Income | $5.5M-8.7% | $6.1M+44.8% | $4.2M+163.1% | -$6.6M-159.6% | -$2.6M-66.5% | -$1.5M+81.5% | -$8.3M-17.0% | -$7.1M |
| EPS (Diluted) | $0.08-50.0% | $0.16-20.0% | $0.20+217.6% | $-0.17-30.8% | $-0.13+48.0% | $-0.25 | N/A | $-0.43 |
BTMWW Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $125.3M+14.9% | $109.1M+21.5% | $89.7M+12.0% | $80.1M-17.9% | $97.5M+8.3% | $90.1M+21.2% | $74.3M-5.3% | $78.5M |
| Current Assets | $79.2M+26.3% | $62.7M+37.5% | $45.6M+32.8% | $34.3M-37.2% | $54.6M+5.7% | $51.7M+51.1% | $34.2M-3.9% | $35.6M |
| Cash & Equivalents | $59.3M+23.4% | $48.0M+37.4% | $35.0M+18.6% | $29.5M-32.9% | $43.9M+4.2% | $42.2M+41.6% | $29.8M+0.3% | $29.7M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $1.5M+3876.3% | $38K-74.1% | $147K-46.5% | $275K-13.2% | $317K-8.9% | $348K+42.0% | $245K-26.2% | $332K |
| Goodwill | $8.7M0.0% | $8.7M0.0% | $8.7M0.0% | $8.7M0.0% | $8.7M0.0% | $8.7M0.0% | $8.7M0.0% | $8.7M |
| Total Liabilities | $104.3M-0.1% | $104.4M+10.7% | $94.3M-2.4% | $96.6M+3.8% | $93.1M+9.4% | $85.1M+31.0% | $65.0M-9.6% | $71.9M |
| Current Liabilities | $42.1M-5.4% | $44.5M+6.2% | $41.9M+3.2% | $40.6M-13.4% | $46.9M+5.3% | $44.6M+3.6% | $43.0M-13.0% | $49.4M |
| Long-Term Debt | $67.5M+1.5% | $66.5M+18.4% | $56.2M-0.1% | $56.2M+36.6% | $41.2M+9.6% | $37.6M+66.9% | $22.5M+8.5% | $20.8M |
| Total Equity | $21.0M+347.8% | $4.7M+202.2% | -$4.6M+72.1% | -$16.5M-471.1% | $4.4M-10.8% | $5.0M-46.9% | $9.4M+42.3% | $6.6M |
| Retained Earnings | -$27.7M+16.8% | -$33.2M+15.4% | -$39.3M+11.4% | -$44.3M-20.6% | -$36.8M-7.5% | -$34.2M-4.7% | -$32.7M-34.1% | -$24.4M |
BTMWW Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $6.6M-34.7% | $10.2M-37.5% | $16.3M+207.1% | $5.3M-47.8% | $10.1M+651.9% | $1.3M-82.1% | $7.5M+8.0% | $7.0M |
| Capital Expenditures | $4.1M+949.1% | $389K+1.0% | $385K-55.4% | $864K-65.6% | $2.5M+349.8% | $558K+3182.4% | $17K+230.8% | -$13K |
| Free Cash Flow | $2.5M-73.9% | $9.8M-38.5% | $15.9M+258.4% | $4.4M-41.9% | $7.6M+865.5% | $789K-89.5% | $7.5M+8.0% | $7.0M |
| Investing Cash Flow | -$4.1M-329.6% | -$950K+88.4% | -$8.2M-850.1% | -$864K+67.2% | -$2.6M-371.7% | -$558K-128.1% | $2.0M+199.8% | -$2.0M |
| Financing Cash Flow | $8.8M+120.3% | $4.0M+256.4% | -$2.5M+64.9% | -$7.3M-27.2% | -$5.7M-149.4% | $11.6M+223.0% | -$9.4M-244.8% | -$2.7M |
| Dividends Paid | $0-100.0% | $7.6M+208.4% | $2.5M-82.8% | $14.4M+110.9% | $6.8M+645.9% | $916K-54.7% | $2.0M+641.0% | $273K |
| Share Buybacks | $0 | $0 | $0 | $0 | $0-100.0% | $158K | N/A | N/A |
BTMWW Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.5%-0.5pp | 19.0%-1.2pp | 20.2%+1.6pp | 18.6%+2.4pp | 16.2%+3.7pp | 12.4%-2.1pp | 14.5%-0.5pp | 15.0% |
| Operating Margin | 7.2%-1.9pp | 9.2%-1.7pp | 10.8%+3.2pp | 7.6%+3.0pp | 4.7%+4.2pp | 0.5%-2.1pp | 2.6%-1.6pp | 4.1% |
| Net Margin | 3.4%-0.1pp | 3.5%+1.0pp | 2.5%+7.4pp | -4.9%-3.3pp | -1.6%-0.5pp | -1.1%+4.5pp | -5.6%-1.7pp | -4.0% |
| Return on Equity | 26.4%-103.0pp | 129.3% | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 4.4%-1.1pp | 5.6%+0.9pp | 4.7%+13.0pp | -8.3%-5.7pp | -2.6%-0.9pp | -1.7%+9.5pp | -11.2%-2.1pp | -9.0% |
| Current Ratio | 1.88+0.5 | 1.41+0.3 | 1.09+0.2 | 0.84-0.3 | 1.160.0 | 1.16+0.4 | 0.80+0.1 | 0.72 |
| Debt-to-Equity | 3.21-11.0 | 14.18+26.4 | -12.24-8.8 | -3.41-12.7 | 9.27+1.7 | 7.54+5.1 | 2.40-0.7 | 3.15 |
| FCF Margin | 1.6%-4.1pp | 5.7%-4.0pp | 9.7%+6.4pp | 3.2%-1.4pp | 4.7%+4.1pp | 0.6%-4.5pp | 5.1%+1.2pp | 3.9% |
Note: Shareholder equity is negative (-$16.5M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.84), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Frequently Asked Questions
What is Bitcoin Depot's annual revenue?
Bitcoin Depot (BTMWW) reported $573.7M in total revenue for fiscal year 2024. This represents a -16.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Bitcoin Depot's revenue growing?
Bitcoin Depot (BTMWW) revenue declined by 16.7% year-over-year, from $689.0M to $573.7M in fiscal year 2024.
Is Bitcoin Depot profitable?
No, Bitcoin Depot (BTMWW) reported a net income of -$11.7M in fiscal year 2024, with a net profit margin of -2.0%.
What is Bitcoin Depot's earnings per share (EPS)?
Bitcoin Depot (BTMWW) reported diluted earnings per share of $-0.60 for fiscal year 2024. This represents a 61.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Bitcoin Depot's EBITDA?
Bitcoin Depot (BTMWW) had EBITDA of $34.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Bitcoin Depot have?
As of fiscal year 2024, Bitcoin Depot (BTMWW) had $29.5M in cash and equivalents against $56.2M in long-term debt.
What is Bitcoin Depot's gross margin?
Bitcoin Depot (BTMWW) had a gross margin of 15.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Bitcoin Depot's operating margin?
Bitcoin Depot (BTMWW) had an operating margin of 4.2% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Bitcoin Depot's net profit margin?
Bitcoin Depot (BTMWW) had a net profit margin of -2.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Bitcoin Depot's free cash flow?
Bitcoin Depot (BTMWW) generated $11.8M in free cash flow during fiscal year 2024. This represents a -71.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Bitcoin Depot's operating cash flow?
Bitcoin Depot (BTMWW) generated $22.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Bitcoin Depot's total assets?
Bitcoin Depot (BTMWW) had $80.1M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Bitcoin Depot's capital expenditures?
Bitcoin Depot (BTMWW) invested $10.8M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Does Bitcoin Depot buy back shares?
Yes, Bitcoin Depot (BTMWW) spent $158K on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
What is Bitcoin Depot's current ratio?
Bitcoin Depot (BTMWW) had a current ratio of 0.84 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Bitcoin Depot's debt-to-equity ratio?
Bitcoin Depot (BTMWW) had a debt-to-equity ratio of -3.41 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Bitcoin Depot's return on assets (ROA)?
Bitcoin Depot (BTMWW) had a return on assets of -14.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
Why is Bitcoin Depot's debt-to-equity ratio negative or unusual?
Bitcoin Depot (BTMWW) has negative shareholder equity of -$16.5M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Bitcoin Depot's Piotroski F-Score?
Bitcoin Depot (BTMWW) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Bitcoin Depot's earnings high quality?
Bitcoin Depot (BTMWW) has an earnings quality ratio of -1.93x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Bitcoin Depot cover its interest payments?
Bitcoin Depot (BTMWW) has an interest coverage ratio of 1.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Bitcoin Depot?
Bitcoin Depot (BTMWW) scores 11 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.