Bitcoin Depot (BTM) AI Stock Analysis

• Market Cap: $241.01M
• Dividend Yield: N/A
• Average Volume (3M): 836.19K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.50
• 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: 26,888,603
• 10 Day Avg. Volume: 722,672
• 30 Day Avg. Volume: 836,192
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.85
• Enterprise Value/Revenue: 0.34
• Enterprise Value/Gross Profit: 1.80
• Enterprise Value/Ebitda: 3.46
• 1Y Price Target: $7.00
• Price Target Upside: 97.74% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 56 Neutral
• Price Target: $4.00 ▲(12.99% Upside)

Bitcoin Depot's overall stock score reflects strong revenue growth and operational improvements, as highlighted in the earnings call. However, the company's high leverage and negative P/E ratio pose significant financial risks. The technical indicators suggest weak momentum, further impacting the stock's attractiveness.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective business strategies, supporting long-term expansion and profitability.

International Expansion

International expansion into new markets like Australia diversifies revenue streams and enhances global presence, providing growth opportunities.

Operational Efficiency

Reduced operating expenses demonstrate improved cost management, which can enhance profit margins and financial sustainability over time.

Negative Factors

High Leverage

High leverage increases financial risk and limits flexibility, potentially impacting the company's ability to invest in growth opportunities.

Regulatory Challenges

Regulatory challenges in key markets like California can hinder operational efficiency and limit growth, requiring strategic adjustments.

Seasonal Revenue Decline

Seasonal revenue fluctuations can affect cash flow predictability and planning, posing challenges for consistent financial performance.

Bitcoin Depot Business Overview & Revenue Model

Company Description

Bitcoin Depot Inc. owns and operates a network of cryptocurrency kiosks in North America. It provides users to buy and sell bitcoin, litecoin, and ethereum cryptocurrencies; and engages in the sale of cryptocurrency to consumers at a network of retail locations through its BDCheckout product offering and through its website over the counter trade. The company was founded in 2016 and is headquartered in Atlanta, Georgia. Bitcoin Depot Inc. is a subsidiary of BT Assets, Inc.

How the Company Makes Money

Bitcoin Depot makes money primarily through transaction fees charged on each transaction conducted via its ATMs. Users pay a fee when buying or selling cryptocurrencies at these machines, which constitutes the primary revenue stream for the company. Additionally, Bitcoin Depot may generate income from partnerships with convenience stores and other retail establishments where its ATMs are located, possibly sharing revenue or paying a leasing fee for space. The company also benefits from the increasing adoption of cryptocurrencies, which can drive more transactions and, consequently, more fee-based revenue.

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	59.21M	34.22M	26.23M	35.12M	26.79M	17.38M
Net Income	2.68M	-11.69M	-26.10M	3.98M	5.94M	14.40M
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	29.76M	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: 3.54
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

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 3.54 is below the 20-day moving average (MA) of 3.69, below the 50-day MA of 4.25, and above the 200-day MA of 2.92, indicating a neutral trend. The MACD of -0.16 indicates Negative momentum. The RSI at 33.95 is Neutral, neither overbought nor oversold. The STOCH value of 11.42 is Positive, 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
BTM	56 Neutral	$241.01M	―	77.58%	―	-3.35%	99.18%
NCPL	54 Neutral	11.02M	-0.15	―	―	-74.33%	39.75%
ABTS	47 Neutral	19.89M	-15.91	―	―	31.69%	86.25%
MIGI	46 Neutral	10.42M	-0.38	300.74%	―	-11.36%	64.27%
SWIN	40 Underperform	481.10M	-54.91	-180.47%	―	-33.99%	-121.80%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

Bitcoin Depot Corporate Events

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.