Announcement • Apr 14
Bitcoin Depot Inc. Appoints Tony Gagliardi as Chief Compliance Officer, Effective April 8, 2026 Bitcoin Depot Inc. announced the appointment of Tony Gagliardi as Chief Compliance Officer, effective April 8, 2026. In this role, Gagliardi will manage all aspects of Bitcoin Depot’s compliance program, overseeing the continued evolution of the Company’s compliance framework as regulatory expectations and state and federal requirements continue to develop. He will oversee the company’s anti-money laundering (AML) and Know-Your-Customer programs, licensing and state-by-state regulatory compliance strategies, transaction monitoring, risk management, and the advancement of Bitcoin Depot’s consumer protection initiatives. Gagliardi will report directly to CEO Alex Holmes. Gagliardi brings more than 15 years of experience building and leading compliance programs across banking, payments, fintech, and regulated digital assets. He has led global AML, fraud, and sanctions programs across both traditional finance and digital asset organizations and has navigated more than 12 major regulatory remediations. Prior to joining Bitcoin Depot, he held senior global compliance roles at leading regulated cryptocurrency firms, serving as Global Head of Sanctions at OKX, Director of Compliance Oversight at Paxos, and Global Head of Financial Crimes Compliance Governance at Coinbase. He brings additional experience from global financial institutions including HSBC and Standard Chartered. Announcement • Mar 18
Bitcoin Depot Inc. announced delayed annual 10-K filing On 03/17/2026, Bitcoin Depot Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Reported Earnings • Mar 17
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: US$0.81 loss per share (improved from US$4.99 loss in FY 2024). Revenue: US$614.9m (up 7.2% from FY 2024). Net loss: US$5.77m (loss narrowed 51% from FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is expected to decline by 22% p.a. on average during the next 2 years, while revenues in the Commercial Services industry in the US are expected to grow by 5.8%. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 62% per year, which means it is significantly lagging earnings. Announcement • Mar 02
Bitcoin Depot Inc. (NasdaqCM:BTM) acquired Kutt, Inc. Bitcoin Depot Inc. (NasdaqCM:BTM) acquired Kutt, Inc. on March 2, 2026. Kutt will continue to operate under its existing brand, with its leadership team remaining in place following the acquisition.
Bitcoin Depot Inc. (NasdaqCM:BTM) completed the acquisition of Kutt, Inc. on March 2, 2026. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to US$5.37, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 15x in the Commercial Services industry in the US. Total loss to shareholders of 93% over the past three years. Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to US$1.10, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 15x in the Commercial Services industry in the US. Total loss to shareholders of 89% over the past three years. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$1.32, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 17x in the Commercial Services industry in the US. Total loss to shareholders of 87% over the past three years. New Risk • Dec 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$96.9m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 70% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (23% increase in shares outstanding). Market cap is less than US$100m (US$96.9m market cap). Announcement • Nov 26
Bitcoin Depot Inc., Annual General Meeting, Dec 12, 2025 Bitcoin Depot Inc., Annual General Meeting, Dec 12, 2025. New Risk • Nov 17
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 13% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (25% increase in shares outstanding). Reported Earnings • Nov 16
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: US$0.082 (up from US$0.045 loss in 3Q 2024). Revenue: US$162.5m (up 20% from 3Q 2024). Net income: US$5.54m (up US$6.48m from 3Q 2024). Profit margin: 3.4% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is expected to decline by 3.6% p.a. on average during the next 2 years, while revenues in the Commercial Services industry in the US are expected to grow by 5.8%. Price Target Changed • Nov 14
Price target decreased by 8.5% to US$6.75 Down from US$7.38, the current price target is an average from 4 analysts. New target price is 231% above last closing price of US$2.04. Stock is up 2.0% over the past year. The company is forecast to post earnings per share of US$0.44 next year compared to a net loss per share of US$0.71 last year. Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to US$2.07, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 16x in the Commercial Services industry in the US. Total loss to shareholders of 79% over the past three years. Announcement • Nov 13
Bitcoin Depot Inc. Provides Earnings Guidance for the Fourth Quarter of 2025 Bitcoin Depot Inc. provided earnings guidance for the fourth quarter of 2025. The Company expects revenue in the fourth quarter of 2025 to be approximately $112 million to $115 million. This estimate reflects the impact of typical seasonality, recently enacted state regulations and, to a lesser extent, enhanced compliance standards. While these factors are expected to weigh modestly on near-term results, the company believe they reinforce the integrity and sustainability of business over the long term. Recent Insider Transactions Derivative • Nov 07
Chairman & CEO exercised options and sold US$914k worth of stock On the 5th of November, Brandon Mintz exercised options to acquire 350k shares at no cost and sold these for an average price of US$2.61 per share. This trade did not impact their existing holding. For the year to December 2021, Brandon's total compensation was 59% salary and 41% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2024, Brandon's direct individual holding has increased from 117.35k shares to 37.85m. Company insiders have collectively sold US$12m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Oct 31
Bitcoin Depot Inc. to Report Q3, 2025 Results on Nov 13, 2025 Bitcoin Depot Inc. announced that they will report Q3, 2025 results Pre-Market on Nov 13, 2025 Buy Or Sell Opportunity • Oct 07
Now 35% undervalued after recent price drop Over the last 90 days, the stock has fallen 38% to US$3.52. The fair value is estimated to be US$5.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 7.3% in a year. Earnings are forecast to grow by 595% in the next year. Recent Insider Transactions Derivative • Oct 06
Chairman & CEO exercised options and sold US$3.3m worth of stock On the 3rd of October, Brandon Mintz exercised options to acquire 843k shares at no cost and sold these for an average price of US$3.87 per share. This trade did not impact their existing holding. For the year to December 2021, Brandon's total compensation was 59% salary and 41% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2024, Brandon's direct individual holding has increased from 117.35k shares to 81.13m. Company insiders have collectively sold US$4.8m more than they bought, via options and on-market transactions in the last 12 months. Price Target Changed • Oct 02
Price target increased by 7.1% to US$7.50 Up from US$7.00, the current price target is an average from 4 analysts. New target price is 96% above last closing price of US$3.83. Stock is up 161% over the past year. The company is forecast to post earnings per share of US$0.59 next year compared to a net loss per share of US$0.71 last year. Announcement • Oct 01
Bitcoin Depot Inc. Provides Earnings Guidance for the Third Quarter Ended September 30, 2025 Bitcoin Depot Inc. provided earnings guidance for the third quarter ended September 30, 2025. For the quarter, the company expected revenue to be approximately $160 million, representing an 18% increase compared to the $135.3 million reported in the third quarter of 2024. Recent Insider Transactions Derivative • Sep 24
Chairman & CEO exercised options and sold US$850k worth of stock On the 22nd of September, Brandon Mintz exercised options to acquire 226k shares at no cost and sold these for an average price of US$3.76 per share. This trade did not impact their existing holding. For the year to December 2021, Brandon's total compensation was 59% salary and 41% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2024, Brandon's direct individual holding has increased from 117.35k shares to 41.01m. Company insiders have collectively sold US$1.5m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Sep 12
Chairman & CEO exercised options and sold US$688k worth of stock On the 9th of September, Brandon Mintz exercised options to acquire 188k shares at no cost and sold these for an average price of US$3.66 per share. This trade did not impact their existing holding. For the year to December 2021, Brandon's total compensation was 59% salary and 41% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2024, Brandon's direct individual holding has increased from 117.35k shares to 41.34m. This was the only transaction from an insider over the last 12 months. Announcement • Aug 27
Bitcoin Depot Inc. Appoints Alex Holmes to Its Board of Directors and Audit Committee, Effective August 20, 2025 Bitcoin Depot Inc. announced appointment of Alex Holmes to its Board of Directors and Audit Committee, effective August 20, 2025. Holmes is a globally recognized leader in payments, compliance, and blockchain innovation, with more than 25 years of experience guiding financial services companies through transformation, regulatory complexity, and global expansion. As a member of Bitcoin Depot’s Board and Audit Committee, Holmes will provide strategic guidance as the crypto industry continues to rapidly evolve. Holmes currently serves as Executive Vice Chairman of United Texas Bank, a strategic advisor to several Web3 ventures including Orobit Inc., and a board member of Jingle Pay /Acamas Group in Dubai. He previously spent nearly two decades at MoneyGram International, where he served as Chairman and CEO from 2016-2025. During his tenure, Holmes led MoneyGram’s transformation into a global fintech powerhouse, expanding digital adoption, modernizing compliance infrastructure, and pioneering cross-border blockchain integration initiatives. Under his leadership, MoneyGram earned recognition as one of the Best Places to Work, Most Trustworthy Companies in America, and a Top Workplace (2022–2025). He also oversaw the company’s $2 billion acquisition by Madison Dearborn Partners in 2023. New Risk • Aug 17
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 85% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (85% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (16% average weekly change). Reported Earnings • Aug 13
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: US$0.16 (up from US$0.14 in 2Q 2024). Revenue: US$172.1m (up 5.5% from 2Q 2024). Net income: US$6.07m (up 115% from 2Q 2024). Profit margin: 3.5% (up from 1.7% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Revenue is forecast to grow 6.2% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Commercial Services industry in the US. Announcement • Aug 12
Bitcoin Depot Inc. Provides Earnings Guidance for the Third Quarter of 2025 Bitcoin Depot Inc. provided earnings guidance for the third quarter of 2025. For the quarter, the company expects revenue to grow high-single digits on a percentage basis from the third quarter of 2024. Announcement • Jul 30
Bitcoin Depot Inc. to Report Q2, 2025 Results on Aug 12, 2025 Bitcoin Depot Inc. announced that they will report Q2, 2025 results Pre-Market on Aug 12, 2025 Announcement • Jul 21
Bitcoin Depot Inc. Appoints Philip Brown as Chief Compliance Officer Bitcoin Depot Inc. announced the appointment of Philip Brown as Chief Compliance Officer. With extensive experience in global compliance frameworks and financial services, Brown will oversee Bitcoin Depot’s compliance strategy as the Company continues its rapid expansion across the U.S. and internationally. In this role, Brown will manage all aspects of Bitcoin Depot’s compliance program, including its Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols, transaction monitoring, and state-by-state compliance strategies. He will also lead the Company’s regulatory engagement efforts and ensure that its compliance infrastructure scales alongside its growing footprint. Among his top priorities will be to enhance Bitcoin Depot’s regulatory posture to support national and international growth, build scalable compliance systems that can quickly adapt to evolving regulations, and strengthen internal controls for improved oversight and audit readiness. He is also committed to proactively engaging with regulators to ensure Bitcoin Depot remains a leader in compliance within the rapidly growing crypto industry. Before joining Bitcoin Depot, Brown served as Banxa’s director of compliance and chief compliance officer for North America, where he played a pivotal role in building and operationalizing its global compliance framework and navigating complex virtual asset regulations in both emerging and established markets. As chief compliance officer at Alliance Trust, he gained deep insights into traditional financial services compliance, particularly around fiduciary obligations and risk management. New Risk • Jul 17
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 24% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Negative equity (-US$4.6m). Minor Risk Shareholders have been diluted in the past year (24% increase in shares outstanding). New Risk • Jun 25
New major risk - Revenue and earnings growth Earnings have declined by 69% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Negative equity (-US$4.6m). Earnings have declined by 69% per year over the past 5 years. New Risk • Jun 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Negative equity (-US$4.6m). Price Target Changed • Jun 12
Price target increased by 11% to US$6.50 Up from US$5.88, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of US$6.25. Stock is up 226% over the past year. The company is forecast to post earnings per share of US$0.45 next year compared to a net loss per share of US$0.71 last year. Price Target Changed • Jun 09
Price target increased by 8.9% to US$6.13 Up from US$5.63, the current price target is an average from 4 analysts. New target price is 6.3% above last closing price of US$5.76. Stock is up 200% over the past year. The company is forecast to post earnings per share of US$0.45 next year compared to a net loss per share of US$0.71 last year. Price Target Changed • May 16
Price target increased by 15% to US$5.38 Up from US$4.69, the current price target is an average from 4 analysts. New target price is 101% above last closing price of US$2.68. Stock is up 41% over the past year. The company is forecast to post earnings per share of US$0.45 next year compared to a net loss per share of US$0.71 last year. New Risk • May 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Negative equity (-US$4.6m). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Reported Earnings • May 15
First quarter 2025 earnings released: EPS: US$0.20 (vs US$0.42 loss in 1Q 2024) First quarter 2025 results: EPS: US$0.20 (up from US$0.42 loss in 1Q 2024). Revenue: US$164.2m (up 19% from 1Q 2024). Net income: US$4.19m (up US$11.1m from 1Q 2024). Profit margin: 2.6% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 1.4% p.a. on average during the next 2 years, compared to a 6.7% growth forecast for the Commercial Services industry in the US. Announcement • May 15
Bitcoin Depot Inc. Provides Revenue Guidance for the Second Quarter of 2025 Bitcoin Depot Inc. provided revenue guidance for the second quarter of 2025. For the quarter, the company expects revenue to grow low-to-mid-single digits on a percentage basis from the second quarter of 2024. Announcement • May 01
Bitcoin Depot Inc. to Report Q1, 2025 Results on May 15, 2025 Bitcoin Depot Inc. announced that they will report Q1, 2025 results Pre-Market on May 15, 2025 Announcement • Mar 24
Bitcoin Depot Appoints David Gray as Chief Financial Officer Bitcoin Depot announced that David Gray has been appointed Chief Financial Officer (CFO), effective immediately. Gray brings over 20 years of financial leadership experience, with a proven track record of success in driving business transformation, optimizing financial performance, leading high-value mergers and acquisitions, and advising on the impacts of complex strategic initiatives. As CFO, Gray will oversee Bitcoin Depot’s financial strategy, treasury, and corporate development, ensuring the company remains well-positioned for continued growth amid an evolving cryptocurrency landscape. Gray joins Bitcoin Depot from Aviat Networks, where he served as CFO and helped lead the company’s growth from $275 million to nearly $500 million in revenue through strategic acquisitions and financial transformation initiatives. Previously, he held CFO and senior finance leadership roles at Superior Essex, Eaton Corporation, and Newell Brands. Gray holds a B.S. in Accounting from Penn State University and is a Certified Management Accountant (CMA) and a Certified Public Accountant (CPA). Reported Earnings • Mar 19
Full year 2024 earnings released: US$0.58 loss per share (vs US$1.57 loss in FY 2023) Full year 2024 results: US$0.58 loss per share (improved from US$1.57 loss in FY 2023). Revenue: US$573.7m (down 17% from FY 2023). Net loss: US$11.7m (loss narrowed 55% from FY 2023). Revenue is forecast to grow 4.1% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Commercial Services industry in the US. Announcement • Mar 18
Bitcoin Depot Inc. Provides Revenue Guidance for First Quarter of 2025 Bitcoin Depot Inc. provided revenue guidance for first quarter of 2025. The company anticipates first quarter of revenues to be between $151 million and $154 million which would represent growth of between 9% and 11% compared to first quarter of 2024. Announcement • Mar 14
Bitcoin Depot Inc. Appoints Chris Ryan as Chief Legal Officer Bitcoin Depot announced that Chris Ryan has been appointed Chief Legal Officer. With a strong background in financial services, cryptocurrency, and regulatory compliance, Ryan will be instrumental in guiding the company’s legal operations as it continues expanding access to Bitcoin. As Chief Legal Officer, Ryan will lead Bitcoin Depot’s legal and compliance strategy, advising the executive team on governance, risk management, and regulatory matters. He will also oversee partnerships, legal operations, and policy initiatives to support the company’s continued expansion. Before joining Bitcoin Depot, Ryan served as Deputy General Counsel at MoneyGram International, where he led global legal teams working on cryptocurrency initiatives, regulatory strategy, and commercial partnerships across North America, Latin America, Europe, and Africa. With over a decade of experience, he has negotiated high-profile fintech deals, advised on blockchain product strategies, and developed compliance frameworks for digital assets and payments. He has also worked closely with policymakers on evolving cryptocurrency regulations and overseen key areas like AML, KYC, and financial compliance. His expert understanding of risk management, corporate transactions, and regulatory affairs will be key as Bitcoin Depot continues to strengthen its position as the largest Bitcoin ATM operator in the U.S. Ryan holds a J.D. from the Florida Coastal School of Law and a B.S. in Political Science from the University of Dayton. Announcement • Mar 04
Bitcoin Depot Inc. to Report Q4, 2024 Results on Mar 18, 2025 Bitcoin Depot Inc. announced that they will report Q4, 2024 results at 9:30 AM, US Eastern Standard Time on Mar 18, 2025 Announcement • Jan 21
Bitcoin Depot Inc. Provides Preliminary Unaudited Earnings Guidance for the Fourth Quarter Ended December 31, 2024 Bitcoin Depot Inc. provided preliminary unaudited earnings guidance for the fourth quarter ended December 31, 2024. For the quarter, the company expects revenue to be in the range between $135 million and $137 million, compared to $135.3 million reported in the third quarter of 2024 and $148.4 million reported in the fourth quarter of 2023. New Risk • Dec 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Negative equity (-US$7.9m). Minor Risks Shareholders have been diluted in the past year (3.4% increase in shares outstanding). Market cap is less than US$100m (US$95.5m market cap). Announcement • Dec 14
Bitcoin Depot Inc. Announces Tim Vanderham Step Down from Board and Member of Audit Committee On December 9, 2024, Tim Vanderham informed the Board of Directors (the Board") of Bitcoin Depot Inc. (the Company") of his intention to step down from the Board of the Company, with a specific effective date to be determined but anticipated by Mr. Vanderham to be in the first quarter of 2025. Mr. Vanderham will also step as a member of the Board's Audit Committee at the same time. Given that Mr. Vanderham will remain on the Board until a later date in 2025, he will continue to stand for reelection at the Company's upcoming Annual Meeting of Stockholders (the Annual Meeting") to be held on December 19, 2024, as originally contemplated in the Company's definitive proxy statement filed with the Securities and Exchange Commission (the SEC") on November 7, 2024. New Risk • Nov 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Negative equity (-US$7.9m). Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding). Announcement • Nov 22
Bitcoin Depot Inc. has filed a Follow-on Equity Offering in the amount of $13 million. Bitcoin Depot Inc. has filed a Follow-on Equity Offering in the amount of $13 million.
Security Name: Class A Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Reported Earnings • Nov 15
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: US$0.053 loss per share (improved from US$0.43 loss in 3Q 2023). Revenue: US$135.3m (down 25% from 3Q 2023). Net loss: US$939.0k (loss narrowed 87% from 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 8.7% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Commercial Services industry in the US. Board Change • Nov 15
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Independent Director Dan Gardner is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Nov 08
Bitcoin Depot Inc., Annual General Meeting, Dec 19, 2024 Bitcoin Depot Inc., Annual General Meeting, Dec 19, 2024. Announcement • Oct 31
Bitcoin Depot Inc. to Report Q3, 2024 Results on Nov 13, 2024 Bitcoin Depot Inc. announced that they will report Q3, 2024 results Pre-Market on Nov 13, 2024 Announcement • Aug 16
Bitcoin Depot Inc. announced delayed 10-Q filing On 08/15/2024, Bitcoin Depot Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: US$0.66 (vs US$1.02 loss in 2Q 2023) Second quarter 2024 results: EPS: US$0.66 (up from US$1.02 loss in 2Q 2023). Revenue: US$163.1m (down 17% from 2Q 2023). Net income: US$11.3m (up US$28.2m from 2Q 2023). Profit margin: 6.9% (up from net loss in 2Q 2023). Revenue is forecast to grow 3.3% p.a. on average during the next 2 years, compared to a 6.7% growth forecast for the Commercial Services industry in the US. Announcement • Jul 31
Bitcoin Depot Inc. to Report Q2, 2024 Results on Aug 13, 2024 Bitcoin Depot Inc. announced that they will report Q2, 2024 results Pre-Market on Aug 13, 2024 Recent Insider Transactions • Jul 07
Chairman of the Board recently sold US$85k worth of stock On the 3rd of July, Brandon Mintz sold around 50k shares on-market at roughly US$1.70 per share. This transaction amounted to 31% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Brandon has been a net seller over the last 12 months, reducing personal holdings by US$173k. Board Change • Jul 01
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Independent Director Dan Gardner is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • May 08
Bitcoin Depot Inc. to Report Q1, 2024 Results on May 14, 2024 Bitcoin Depot Inc. announced that they will report Q1, 2024 results Pre-Market on May 14, 2024 Announcement • Apr 27
Bitcoin Depot Inc. announced that it has received funding from Sopris Capital Associates, LLC Bitcoin Depot Inc. announced a private placement of 2,906,976 class A common shares on April 25, 2024. The transaction included participation from new investor Sopris Capital Associates, LLC. Announcement • Apr 02
Bitcoin Depot Inc. announced delayed annual 10-K filing On 04/01/2024, Bitcoin Depot Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Price Target Changed • Mar 26
Price target decreased by 24% to US$4.63 Down from US$6.13, the current price target is an average from 4 analysts. New target price is 112% above last closing price of US$2.18. Stock is down 79% over the past year. The company is forecast to post earnings per share of US$0.23 next year compared to a net loss per share of US$0.87 last year. Reported Earnings • Mar 25
Full year 2023 earnings released Full year 2023 results: US$0.87 loss per share. Revenue: US$689.0m (up 6.5% from FY 2022). Net loss: US$11.5m (down 390% from profit in FY 2022). Revenue is forecast to grow 7.3% p.a. on average during the next 2 years, compared to a 6.7% growth forecast for the Commercial Services industry in the US. Announcement • Mar 12
Bitcoin Depot Inc. to Report Q4, 2023 Results on Mar 25, 2024 Bitcoin Depot Inc. announced that they will report Q4, 2023 results Pre-Market on Mar 25, 2024 New Risk • Mar 11
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$31.8m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (US$31.8m market cap). Announcement • Feb 10
Bitcoin Depot Inc. Announces Jackie Marks to Step Down from the Board, Member of Audit Committee and the Audit Committee Chair, Effective on July 1, 2024 On February 5, 2024, Jackie Marks informed the Board of Directors of Bitcoin Depot Inc. of her intention to step down from the Board of the Company, effective on July 1, 2024. Ms. Marks will also step down as a member of the Board’s Audit Committee and the Audit Committee Chair at the same time. The Board intends on replacing Ms. Marks by appointing a new director upon her resignation. The Board will also appoint a new or existing Director to replace Ms. Marks as the Chair of the Audit Committee. New Risk • Jan 22
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$29.8m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Significant insider selling over the past 3 months (US$150k sold). Market cap is less than US$100m (US$29.8m market cap). Announcement • Jan 18
Bitcoin Depot to Deploy 940 Bitcoin ATMs at a National Convenience Store Retailer Bitcoin Depot Inc. announced the launch of its retail partnership with a leading national convenience retailer with an extensive international network of locations across a portfolio of many brands. Beginning in first quarter of 2024, the Company will install roughly 940 Bitcoin Depot kiosks in convenience store locations across 24 states. The initial rollout is part of a larger initiative with the opportunity to grow into additional stores beyond the initial 940. Bitcoin Depot’s products and services provide an intuitive, quick, and convenient process for converting cash into Bitcoin, giving users the ability to access the broader digital financial system by conveniently purchasing Bitcoin at Bitcoin ATMs in 48 states. In addition to Bitcoin ATMs, Bitcoin Depot also has BDCheckout enabled for customers to fund their wallets with cash at participating retail locations in 28 states across the nation. New Risk • Dec 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 45% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (45% increase in shares outstanding). Significant insider selling over the past 3 months (US$150k sold). New Risk • Dec 10
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$39.0m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Significant insider selling over the past 3 months (US$150k sold). Market cap is less than US$100m (US$39.0m market cap). Recent Insider Transactions • Nov 24
Chairman of the Board recently sold US$88k worth of stock On the 17th of November, Brandon Mintz sold around 40k shares on-market at roughly US$2.20 per share. This transaction amounted to 8.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Brandon's only on-market trade for the last 12 months. Reported Earnings • Nov 15
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: US$0.43 loss per share. Revenue: US$179.5m (up 2.7% from 3Q 2022). Net loss: US$7.10m (down 289% from profit in 3Q 2022). Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Commercial Services industry in the US. Board Change • Nov 15
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Independent Director Dan Gardner is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Oct 31
Bitcoin Depot Inc. to Report Q3, 2023 Results on Nov 13, 2023 Bitcoin Depot Inc. announced that they will report Q3, 2023 results Pre-Market on Nov 13, 2023 Announcement • Sep 24
Bitcoin Depot Inc. (NasdaqCM:BTM) announces an Equity Buyback for $10 million worth of its shares. Bitcoin Depot Inc. (NasdaqCM:BTM) announces a share repurchase program. Under the program, the company will repurchase up to $10 million of its Class A common stock. The repurchase plan will expire on June 30, 2024. Announcement • Aug 17
Bitcoin Depot Inc. announced delayed 10-Q filing On 08/15/2023, Bitcoin Depot Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.