NASDAQ$BTM
Bitcoin Depot Inc · Q4 2025 earnings
Q4 2025 earnings · · Before market open
Briefing
Bitcoin Depot reported Q4 2025 revenue of $116.0M and a net loss of $24.9M.
Q4 revenue declined to $116.0 million from $136.8 million on state transaction caps and compliance enhancements. FY2025 revenue grew 7% to $614.9 million with FY net income of $5.1 million. Q4 loss included an $18.5 million arbitration accrual. Adjusted EBITDA for FY2025 was $56.4 million (+42% YoY).
- FY2025 gross profit $105.6M (+30% YoY).
- Post-year-end Kutt acquisition enters P2P social betting.
- Largest compliant North American BTM operator positioning for share gains.
- Q4 gross margin 13.2% vs 17.2% prior year on regulatory changes.
Headline financials
Revenue & EPS history
Bitcoin Depot Inc · Revenue · Quarterly
$116M
Forward guidance
Management expects industry maturation to favor compliant scale operators; 2026 focus on Kutt integration.
Tailwinds
- FY adjusted EBITDA +42% to $56.4M.
- FY revenue +7% to $614.9M.
Headwinds
- State caps pressured Q4 revenue.
- Arbitration accrual drove Q4 net loss.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 9 quarterly earnings reports · overlaid with Q4 2025
-2.3%
Avg return
Earnings day
+1.0%
Avg return
5 days after
+19.6%
Avg return
30 days after
50%
5 / 10 earnings
Positive
+22.9%
Q1 2025
Best reaction
-20.0%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +5.3% | +42.0% | — | |
| Q4 2025 | -8.0% | -28.8% | -5.0% | |
| Q3 2025 | -17.5% | -26.7% | -43.4% | |
| Q2 2025 | -12.4% | -15.6% | -21.8% | |
| Q1 2025 | +22.9% | +72.9% | +265.9% | |
| Q3 2024 | -2.0% | -17.7% | -21.4% | |
| Q2 2024 | +7.1% | +14.1% | +3.8% | |
| Q1 2024 | +1.6% | +1.6% | -0.5% | |
| Q3 2023 | +0.6% | -13.5% | +0.2% | |
| Q2 2023 | -20.0% | -18.6% | -1.2% |
Discussion
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