Here are the 10-K annual reports from Bitcoin Depot Inc. Warrant (BTMWW) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow BTMWW and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BTMWW filings page.
Bitcoin Depot Inc. reports solid 2025 growth while navigating major partner and regulatory shifts. Revenue reached $614.9 million with net income of $4.7 million, and Adjusted EBITDA rose to $56.4 million on a 17.2% gross margin, up from 15.9% in 2024.
The company operated about 9,700 Bitcoin ATMs across North America, Australia and Hong Kong and maintained roughly 23% U.S. market share as of December 31, 2025. Circle K, its largest retail partner and source of 18% of 2025 revenue, has given notice it will not renew its contract, so Bitcoin Depot plans to relocate roughly 800 kiosks.
Management highlights expansion via BDCheckout at approximately 16,300 retail locations, multiple U.S. acquisitions adding over 500 kiosks, and entry into Hong Kong. The company also faces tightening state-level rules on crypto kiosks, including fee caps, transaction limits, refund mandates, and local bans in several cities, which could pressure profitability and growth.