Welcome to our dedicated page for Bitcoin Depot news (Ticker: BTMWW), a resource for investors and traders seeking the latest updates and insights on Bitcoin Depot stock.
Bitcoin Depot Inc. (BTMWW) operates North America's largest Bitcoin ATM network, enabling cash-to-crypto conversions at thousands of retail locations. This page aggregates official news and press releases about the company's strategic initiatives, market position, and technological innovations in the cryptocurrency sector.
Investors and industry observers will find timely updates on earnings reports, retail partnerships with major convenience stores and gas stations, product launches including BDCheckout integrations, and regulatory developments. The curated collection serves as a reliable resource for tracking Bitcoin Depot's expansion across North America and its role in advancing crypto accessibility.
Content spans operational milestones, ATM network growth statistics, leadership announcements, and partnership expansions with grocery chains, pharmacies, and mall operators. Regular updates ensure stakeholders stay informed about profit-sharing program developments and international market entries.
Bookmark this page for direct access to Bitcoin Depot's verified financial communications and service updates. Check back frequently for new insights into the company's efforts to bridge traditional finance with digital asset ecosystems through secure, user-friendly solutions.
Bitcoin Depot reported its Q1 2024 financial results, highlighting significant expansion and financial metrics. The company secured over 2,000 new retail locations and committed to acquiring 3,200 additional kiosks, aiming for 8,000 deployed kiosks by the end of 2024. Revenue for Q1 2024 was $138.5 million, a 15% decrease from $163.6 million in Q1 2023. Gross profit dropped 26% to $14.4 million, with a net loss of $4.2 million compared to a net income of $6.1 million in Q1 2023. Adjusted EBITDA fell to $4.9 million from $13.6 million in Q1 2023. Despite these declines, the company reported a 1% revenue increase to $663.9 million over the trailing twelve months, with a 29% rise in gross profit to $83.4 million and a gross profit margin improvement to 12.6%.
Recent business highlights include international expansion into Puerto Rico and Australia and a new partnership with Fareway grocery stores. Bitcoin Depot remains focused on growing its market presence and optimizing profitability. A conference call is scheduled for May 14, 2024, at 10:00 a.m. ET to discuss these results further.
Bitcoin Depot, a U.S.-based Bitcoin ATM operator and fintech company, will host a conference call on May 14th to discuss its first-quarter financial results. The call will be available for replay, providing insights into the company's performance.
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