Bitcoin Depot (BTM)
Market Price (2/26/2026): $5.22 | Market Cap: $50.6 MilSector: Financials | Industry: Diversified Capital Markets
Bitcoin Depot (BTM)
Market Price (2/26/2026): $5.22Market Cap: $50.6 MilSector: FinancialsIndustry: Diversified Capital Markets
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 69%, Dividend Yield is 50%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 65%, FCF Yield is 67% | Weak multi-year price returns2Y Excs Rtn is -108%, 3Y Excs Rtn is -163% | Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 160% |
| Megatrend and thematic driversMegatrends include Crypto & Blockchain, and Fintech & Digital Payments. Themes include Cryptocurrency Exchanges, and Digital Payments. | High stock price volatilityVol 12M is 559% | |
| Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 32% | ||
| Key risksBTM key risks include [1] regulatory headwinds threatening transaction volumes and revenue through mandates like transaction and fee caps, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 69%, Dividend Yield is 50%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 65%, FCF Yield is 67% |
| Megatrend and thematic driversMegatrends include Crypto & Blockchain, and Fintech & Digital Payments. Themes include Cryptocurrency Exchanges, and Digital Payments. |
| Weak multi-year price returns2Y Excs Rtn is -108%, 3Y Excs Rtn is -163% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 160% |
| High stock price volatilityVol 12M is 559% |
| Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 32% |
| Key risksBTM key risks include [1] regulatory headwinds threatening transaction volumes and revenue through mandates like transaction and fee caps, Show more. |
Qualitative Assessment
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1. Disappointing Q4 2025 Revenue Guidance and Earnings Miss.
Bitcoin Depot's shares dropped 18% on November 13, 2025, following the release of its Q4 2025 forecast, which projected revenue between $112 million and $115 million. This significantly missed the analyst consensus of $143.5 million. The company also anticipated low-single-digit millions for Q4 adjusted EBITDA. This weaker-than-expected outlook was a primary catalyst for the stock's decline.
2. Negative Impact of Increased Regulatory Scrutiny and Enhanced Compliance.
Changes in state regulations, including transaction and fee caps in over 15 states, with approximately six taking effect in Q3 or early Q4 2025, combined with Bitcoin Depot's own enhanced compliance efforts, such as requiring identification for every transaction (phased rollout began February 2026), directly impacted transaction volumes and revenue projections. While these measures aim for long-term benefits by promoting a more compliant market, they exerted significant near-term pressure on the company's operational activity and financial performance.
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Stock Movement Drivers
Fundamental Drivers
The -73.8% change in BTM stock from 10/31/2025 to 2/25/2026 was primarily driven by a -86.2% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 2252026 | Change |
|---|---|---|---|
| Stock Price ($) | 19.25 | 5.05 | -73.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 608 | 636 | 4.5% |
| Net Income Margin (%) | 0.4% | 1.4% | 227.6% |
| P/E Multiple | 38.6 | 5.3 | -86.2% |
| Shares Outstanding (Mil) | 5 | 10 | -44.6% |
| Cumulative Contribution | -73.8% |
Market Drivers
10/31/2025 to 2/25/2026| Return | Correlation | |
|---|---|---|
| BTM | -73.8% | |
| Market (SPY) | 1.6% | -14.1% |
| Sector (XLF) | -1.0% | -39.1% |
Fundamental Drivers
The -85.5% change in BTM stock from 7/31/2025 to 2/25/2026 was primarily driven by a -68.5% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 7312025 | 2252026 | Change |
|---|---|---|---|
| Stock Price ($) | 34.72 | 5.05 | -85.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 599 | 636 | 6.0% |
| P/S Multiple | 0.2 | 0.1 | -56.5% |
| Shares Outstanding (Mil) | 3 | 10 | -68.5% |
| Cumulative Contribution | -85.5% |
Market Drivers
7/31/2025 to 2/25/2026| Return | Correlation | |
|---|---|---|
| BTM | -85.5% | |
| Market (SPY) | 10.0% | -9.9% |
| Sector (XLF) | -0.6% | -29.8% |
Fundamental Drivers
The -54.9% change in BTM stock from 1/31/2025 to 2/25/2026 was primarily driven by a -69.5% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 1312025 | 2252026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.20 | 5.05 | -54.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 585 | 636 | 8.6% |
| P/S Multiple | 0.1 | 0.1 | 36.0% |
| Shares Outstanding (Mil) | 3 | 10 | -69.5% |
| Cumulative Contribution | -54.9% |
Market Drivers
1/31/2025 to 2/25/2026| Return | Correlation | |
|---|---|---|
| BTM | -54.9% | |
| Market (SPY) | 16.2% | -3.0% |
| Sector (XLF) | 1.8% | -15.4% |
Fundamental Drivers
The -92.9% change in BTM stock from 1/31/2023 to 2/25/2026 was primarily driven by a -81.8% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 1312023 | 2252026 | Change |
|---|---|---|---|
| Stock Price ($) | 71.50 | 5.05 | -92.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 636 | 0.0% |
| Net Income Margin (%) | � | 1.4% | 0.0% |
| P/E Multiple | � | 5.3 | 0.0% |
| Shares Outstanding (Mil) | 2 | 10 | -81.8% |
| Cumulative Contribution | 0.0% |
Market Drivers
1/31/2023 to 2/25/2026| Return | Correlation | |
|---|---|---|
| BTM | -92.9% | |
| Market (SPY) | 76.9% | 0.0% |
| Sector (XLF) | 48.4% | -8.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BTM Return | - | 2% | -68% | -50% | -20% | -41% | -92% |
| Peers Return | 21% | -79% | 366% | 31% | 36% | -8% | 99% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 83% |
Monthly Win Rates [3] | |||||||
| BTM Win Rate | - | 67% | 50% | 33% | 25% | 0% | |
| Peers Win Rate | 38% | 37% | 63% | 45% | 62% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| BTM Max Drawdown | - | -0% | -80% | -56% | -37% | -90% | |
| Peers Max Drawdown | -31% | -81% | -2% | -38% | -32% | -25% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: COIN, HOOD, MARA, RIOT, CLSK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/25/2026 (YTD)
How Low Can It Go
| Event | BTM | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -80.2% | -25.4% |
| % Gain to Breakeven | 405.9% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
Compare to COIN, HOOD, MARA, RIOT, CLSK
In The Past
Bitcoin Depot's stock fell -80.2% during the 2022 Inflation Shock from a high on 5/24/2023. A -80.2% loss requires a 405.9% gain to breakeven.
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About Bitcoin Depot (BTM)
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Here are 1-3 brief analogies for Bitcoin Depot (BTM):
- Like a traditional bank ATM, but for buying and selling Bitcoin with cash.
- Similar to a CoinStar machine, but for converting cash into Bitcoin.
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- Bitcoin ATMs: Provides a physical network of kiosks where customers can convert cash into Bitcoin and vice-versa.
- BDCheckout: Enables customers to purchase Bitcoin at participating retail checkout registers using cash.
- Mobile App: A companion application that facilitates transaction processes, manages user accounts, and locates nearby service points for their Bitcoin exchange services.
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Bitcoin Depot (BTM) primarily serves individual customers through its extensive network of Bitcoin ATMs. While the company engages in business-to-business relationships by partnering with retail locations to host its kiosks, the fundamental revenue stream from transaction fees is generated directly from individuals buying and selling cryptocurrency.
Based on its business model, the company serves the following categories of individual customers:
- The Unbanked, Underbanked, and Cash-Preferred Individuals: This segment includes customers who may lack traditional banking access, choose to manage their finances primarily with cash, or seek enhanced privacy in their financial transactions. Bitcoin Depot's ATMs provide an essential and accessible on-ramp and off-ramp for these individuals to engage with the cryptocurrency market using physical cash.
- Convenience-Seeking and Time-Sensitive Users: These customers prioritize the speed and ease of converting cash to cryptocurrency (and vice-versa) over potentially lower fees offered by more complex online exchanges. They often require immediate access to crypto without the delays typically associated with bank transfers, online verification processes, or navigating intricate trading platforms.
- New or Less Tech-Savvy Cryptocurrency Entrants: This category encompasses individuals who are new to the world of digital assets and may find traditional online cryptocurrency exchanges complex or intimidating. Bitcoin ATMs offer a simpler, more approachable, and often physically intuitive way to make their initial cryptocurrency purchase or sale using cash.
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Brandon Mintz, Chief Executive Officer and Chairman of the Board of Directors
Brandon Mintz founded Bitcoin Depot in June 2016. Prior to founding Bitcoin Depot, he founded and served as Chief Executive Officer of Premier Technologies, LLC, also known as Cash To Crypto, starting in November 2013. He began his entrepreneurial ventures before college by buying and reselling boats and jet skis. Mintz holds a B.B.A. in Marketing from the University of Georgia.
David Gray, Chief Financial Officer
David Gray was appointed Chief Financial Officer effective March 24, 2025. He joined Bitcoin Depot from Aviat Networks, where he served as CFO and contributed to the company's revenue growth from $275 million to nearly $500 million through strategic acquisitions and financial transformation initiatives. Previously, Gray held CFO and senior finance leadership roles at Superior Essex, Eaton Corporation, and Newell Brands. He holds a B.S. in Accounting from Penn State University and is a Certified Management Accountant (CMA) and a Certified Public Accountant (CPA).
Scott Buchanan, President & Chief Operating Officer
Scott Buchanan has served as President of Bitcoin Depot since August 2025 and as Chief Operating Officer since March 2022. He also previously held the position of Chief Financial Officer from August 2020 to January 2023. Before joining Bitcoin Depot, Buchanan worked at Acuity Brands (NYSE: AYI) in various finance-related roles starting in December 2015. He holds a B.S. in Accounting from North Carolina State University and a Masters of Science in Accountancy from Wake Forest School of Business, and is a certified public accountant.
Chris Ryan, Chief Legal Officer
Before joining Bitcoin Depot, Chris Ryan served as Deputy General Counsel at MoneyGram International, where he led global legal teams focusing 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. Ryan has also collaborated with policymakers on evolving cryptocurrency regulations. He holds a J.D. from the Florida Coastal School of Law.
Philip Brown, Chief Compliance Officer
Before joining Bitcoin Depot, Philip Brown was Banxa's director of compliance and chief compliance officer for North America, where he played a key role in building and operationalizing its global compliance framework and navigating virtual asset regulations. He also gained extensive experience in traditional financial services compliance, particularly regarding fiduciary obligations and risk management, as chief compliance officer at Alliance Trust.
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The key risks to Bitcoin Depot's (BTM) business include regulatory headwinds, cryptocurrency price volatility, and challenges related to competition and the inherent constraints of its business model.Key Risks to Bitcoin Depot (BTM)
1. Regulatory Headwinds and Uncertainty: Bitcoin Depot operates in a highly regulated and evolving environment, facing significant risks from current and future cryptocurrency regulations. Stricter Know Your Customer (KYC) and Anti-Money Laundering (AML) mandates, transaction caps, and outright bans on Bitcoin ATMs in certain jurisdictions directly threaten transaction volumes and revenue. For example, recent legislation in several U.S. states has imposed daily transaction limits and caps on markup fees, significantly impacting the company's operational environment and revenue streams.
2. Cryptocurrency Price Volatility: The demand for Bitcoin Depot's services is closely tied to the broader cryptocurrency market. Prolonged downturns or significant volatility in cryptocurrency prices can lead to reduced consumer interest in buying crypto with cash, thereby decreasing BTM usage and impacting the company's fee revenues.
3. Competition and Limited Growth Prospects of the Business Model: Despite being a market leader in North America, Bitcoin Depot's business model, which relies on cash-to-crypto ATM transactions, faces inherent limitations and increasing competition. The long-term growth prospects for physical Bitcoin ATMs are questionable as digital and cashless transaction methods become more prevalent. Emerging competitors in the cryptocurrency ATM space could further challenge Bitcoin Depot's market share, and the company's revenue growth has shown signs of slowing.
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The accelerating shift towards digital-first, app-based cryptocurrency exchanges and integrated financial platforms (e.g., Coinbase, Binance, PayPal, Cash App, Robinhood Crypto) that offer increasingly user-friendly, lower-fee, and more convenient methods for buying and selling cryptocurrencies directly via bank accounts or debit cards. This trend threatens to diminish the unique value proposition of physical Bitcoin ATMs, which primarily cater to cash users, the unbanked, or those seeking immediate physical access, by providing a superior and more scalable alternative for the vast majority of potential crypto users.
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The addressable market for Bitcoin Depot's main products and services, primarily Bitcoin ATMs (BTMs) and the BDCheckout program, is the U.S. Crypto ATM Market. These services facilitate the conversion of cash into Bitcoin and other cryptocurrencies.
Estimates for the size of the U.S. Crypto ATM Market vary, but all sources indicate substantial growth:
- In 2024, the U.S. crypto ATM market was valued between USD 73.5 million and USD 100.50 million.
- The market is projected to reach approximately USD 113.2 million to USD 286.72 million in 2025.
- Looking further ahead, the U.S. crypto ATM market is forecast to grow significantly, with projections including:
- USD 1,907.7 million by 2030, growing at a CAGR of 59.7% from 2024 to 2030.
- USD 2,429.7 million by 2032, with a CAGR of 55% from 2025–2032.
- USD 3,346.47 million by 2032, expanding at a CAGR of 55% from 2025 to 2032.
- USD 7,679.6 million by 2034, exhibiting a CAGR of 45.22% from 2026-2034.
The region for these market sizes is the United States, which is recognized as a dominant market in the global crypto ATM industry.
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Here are 3-5 expected drivers of future revenue growth for Bitcoin Depot (BTM) over the next 2-3 years:
- Expansion of Bitcoin ATM (BTM) Network: Bitcoin Depot is actively expanding its physical footprint by deploying more Bitcoin ATMs. This includes strategic partnerships with large retail chains like GPM Investments, with an initial rollout of 188 BTMs and plans for further expansion within their network, as well as with the Independent Grocers Alliance (IGA) to place kiosks in neighborhood grocery stores across the U.S.. The company has also secured investments for the deployment of new BTM kiosks as part of its profit-share program, which has already added over 350 locations. Bitcoin Depot surpassed its goal of deploying over 8,000 Bitcoin ATMs ahead of schedule in July 2024 and operates approximately 8,800 kiosk locations as of November 2025. CEO Brandon Mintz consistently highlights BTM network expansion as a key factor in sequential revenue growth and improved profitability.
- Growth of BDCheckout Program: The BDCheckout service allows customers to purchase cryptocurrency at thousands of name-brand retail locations, expanding Bitcoin Depot's reach beyond its traditional BTM kiosks. This program has been extended to new states and is a key growth driver, with over 7,700 retail locations across 30 states utilizing the service as of August 2025.
- Favorable Cryptocurrency Market Environment and Increased Consumer Adoption: A positive cryptocurrency market environment, characterized by rising Bitcoin prices, regulatory clarity, growing institutional demand, and increased adoption, is expected to drive higher transaction volumes for Bitcoin Depot. CEO Brandon Mintz has expressed optimism for 2025, citing a favorable cryptocurrency market. Analysts anticipate heightened revenue streams driven by increased consumer interest and transaction volumes, especially as Bitcoin prices approach new highs. The company's growth reflects the ongoing consumer adoption of cryptocurrency, leading to kiosk performance exceeding expectations.
- Operational Efficiency and Kiosk Profitability Optimization: Bitcoin Depot is focused on enhancing operational efficiencies and optimizing existing machines for greater profitability. This strategy includes relocating underperforming BTMs to more promising locations and optimizing markup for maximum profitability. The company's efforts in cost management and operational optimization have led to significant improvements in adjusted gross profit and EBITDA, positioning it for future growth.
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Capital Allocation Decisions (Last 3-5 Years)
Share Repurchases
- Bitcoin Depot authorized a share repurchase program on September 22, 2023, to buy back up to $10 million of its Class A common stock.
- This program was initially authorized to continue through June 30, 2024, but a subsequent report indicated it expired on March 31, 2025.
- The company intended to fund these repurchases using cash on hand and cash generated from operations.
Share Issuance
- On October 7, 2025, Bitcoin Depot announced a registered direct offering of 4,285,716 shares of its Class A common stock at $3.50 per share, anticipating gross proceeds of approximately $15 million.
- The net proceeds from the October 2025 offering are intended for general corporate purposes.
- In connection with the business combination on June 30, 2023, Bitcoin Depot issued 4,300,000 shares of Series A Preferred Stock in a private placement.
Inbound Investments
- On March 26, 2024, Bitcoin Depot Operating LLC secured an additional Tranche B Term Loan of $15,700,000.
- This loan has a maturity date of June 23, 2026, and an interest rate of 17.0% per annum.
Outbound Investments
- Bitcoin Depot acquired the assets of Pelicoin, LLC to enhance its presence in the Gulf South region of the United States.
- On October 2, 2025, the company acquired the assets of National Bitcoin ATM (Westcliff Technologies), adding over 500 kiosks and increasing its U.S. market share to approximately 30%.
- Bitcoin Depot expanded its bitcoin treasury, including a purchase of 6 additional Bitcoins for $0.6 million, bringing its total to 100.35 Bitcoins, following an earlier acquisition of 83 Bitcoins for about $7.8 million.
Capital Expenditures
- Capital expenditures for the trailing twelve months ending June 30, 2025, were -$8.46 million, and for fiscal year 2024, they were -$10.75 million.
- The company recorded capital expenditures of -$0.02 million in fiscal year 2023 and -$1.11 million in fiscal year 2022.
- Bitcoin Depot aims to increase its BDCheckout retail transaction volume to reduce future capital expenditures.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Bitcoin Depot Earnings Notes | 12/16/2025 | |
| Bitcoin Depot Stock 10-Day Losing Spree: Stock Falls -46% | 11/26/2025 | |
| Bitcoin Depot Stock Plummets -48% With 11-Day Losing Streak | 11/26/2025 | |
| Bitcoin Depot Stock Slides -45% With A 9-Day Losing Spree | 11/22/2025 | |
| null | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 01302026 | FDS | FactSet Research Systems | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -18.8% | -18.8% | -25.3% |
| 01302026 | PFSI | PennyMac Financial Services | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -6.9% | -6.9% | -9.3% |
| 01302026 | ALLY | Ally Financial | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -1.9% | -1.9% | -5.5% |
| 01232026 | FIS | Fidelity National Information Services | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -18.9% | -18.9% | -22.6% |
| 01022026 | MORN | Morningstar | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -18.1% | -18.1% | -26.8% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 13.76 |
| Mkt Cap | 4.6 |
| Rev LTM | 852 |
| Op Inc LTM | -55 |
| FCF LTM | -506 |
| FCF 3Y Avg | -353 |
| CFO LTM | -232 |
| CFO 3Y Avg | -97 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 52.5% |
| Rev Chg 3Y Avg | 49.0% |
| Rev Chg Q | 23.3% |
| QoQ Delta Rev Chg LTM | 5.4% |
| Op Mgn LTM | -6.2% |
| Op Mgn 3Y Avg | -11.0% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | -29.0% |
| CFO/Rev 3Y Avg | -18.7% |
| FCF/Rev LTM | -64.0% |
| FCF/Rev 3Y Avg | -59.6% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.6 |
| P/S | 5.3 |
| P/EBIT | 16.7 |
| P/E | 20.7 |
| P/CFO | -1.2 |
| Total Yield | 2.7% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -8.1% |
| D/E | 0.4 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -15.1% |
| 3M Rtn | -26.7% |
| 6M Rtn | -32.6% |
| 12M Rtn | 7.4% |
| 3Y Rtn | 202.9% |
| 1M Excs Rtn | -15.0% |
| 3M Excs Rtn | -24.4% |
| 6M Excs Rtn | -41.9% |
| 12M Excs Rtn | -16.9% |
| 3Y Excs Rtn | 100.4% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Single Segment | 689 | 647 | ||
| BD Checkout | 0 | |||
| Bitcoin ATM (BTM) revenue | 538 | 244 | ||
| Company Website | 0 | |||
| Hardware Revenue | 1 | 0 | ||
| Over-the-counter (OTC) | 7 | |||
| Software Services | 2 | 0 | ||
| Over-the-counter (OTC) and other revenue | 1 | |||
| Total | 689 | 647 | 549 | 245 |
| $ Mil | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Single Segment | 1 | |||
| Total | 1 |
Price Behavior
| Market Price | $5.05 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 04/19/2022 | |
| Distance from 52W High | -88.9% | |
| 50 Days | 200 Days | |
| DMA Price | $7.53 | $21.50 |
| DMA Trend | down | down |
| Distance from DMA | -32.9% | -76.5% |
| 3M | 1YR | |
| Volatility | 1,135.4% | 560.4% |
| Downside Capture | -1116.49 | -20.58 |
| Upside Capture | -1327.51 | -61.71 |
| Correlation (SPY) | -19.6% | -3.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.22 | 0.50 | 2.02 | 1.82 | 0.71 | 0.87 |
| Up Beta | -5.91 | -1.40 | 0.25 | -0.48 | -0.10 | 0.02 |
| Down Beta | 2.93 | 3.88 | 5.73 | 4.67 | 0.54 | 0.92 |
| Up Capture | -333% | -243% | -187% | -79% | 139% | 44% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 7 | 16 | 20 | 44 | 102 | 320 |
| Down Capture | 113% | 55% | 298% | 272% | 144% | 112% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 10 | 20 | 36 | 71 | 132 | 372 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BTM | |
|---|---|---|---|---|
| BTM | -39.5% | 559.3% | 0.82 | - |
| Sector ETF (XLF) | 2.8% | 19.7% | 0.03 | -15.5% |
| Equity (SPY) | 17.2% | 19.4% | 0.69 | -3.2% |
| Gold (GLD) | 75.4% | 25.7% | 2.16 | 12.6% |
| Commodities (DBC) | 9.7% | 16.9% | 0.38 | 7.2% |
| Real Estate (VNQ) | 7.2% | 16.6% | 0.25 | 1.6% |
| Bitcoin (BTCUSD) | -27.7% | 44.9% | -0.59 | -3.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BTM | |
|---|---|---|---|---|
| BTM | -41.0% | 308.4% | 0.30 | - |
| Sector ETF (XLF) | 12.0% | 18.8% | 0.51 | -6.9% |
| Equity (SPY) | 13.6% | 17.0% | 0.63 | 0.1% |
| Gold (GLD) | 23.4% | 17.1% | 1.12 | 8.7% |
| Commodities (DBC) | 10.7% | 19.0% | 0.45 | 3.0% |
| Real Estate (VNQ) | 5.3% | 18.8% | 0.18 | 1.8% |
| Bitcoin (BTCUSD) | 5.1% | 57.1% | 0.31 | 2.6% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BTM | |
|---|---|---|---|---|
| BTM | -23.2% | 308.4% | 0.30 | - |
| Sector ETF (XLF) | 13.8% | 22.2% | 0.57 | -6.9% |
| Equity (SPY) | 15.5% | 17.9% | 0.75 | 0.1% |
| Gold (GLD) | 15.2% | 15.6% | 0.81 | 8.7% |
| Commodities (DBC) | 8.4% | 17.6% | 0.39 | 3.0% |
| Real Estate (VNQ) | 6.6% | 20.7% | 0.28 | 1.8% |
| Bitcoin (BTCUSD) | 66.0% | 66.7% | 1.05 | 2.6% |
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Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/13/2025 | -17.5% | -33.5% | -47.4% |
| 8/12/2025 | -12.4% | -16.2% | -21.4% |
| 3/18/2025 | 1.4% | 6.5% | -5.8% |
| 11/13/2024 | -1.2% | -18.7% | -23.5% |
| 8/13/2024 | -4.8% | 6.1% | -4.2% |
| 3/25/2024 | -17.2% | -36.2% | -29.1% |
| 11/13/2023 | -7.1% | -19.7% | 4.2% |
| 7/21/2023 | 18.3% | 27.1% | 4.9% |
| SUMMARY STATS | |||
| # Positive | 2 | 3 | 2 |
| # Negative | 6 | 5 | 6 |
| Median Positive | 9.9% | 6.5% | 4.6% |
| Median Negative | -9.8% | -19.7% | -22.4% |
| Max Positive | 18.3% | 27.1% | 4.9% |
| Max Negative | -17.5% | -36.2% | -47.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/12/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/24/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/15/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 04/15/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 09/01/2023 | 424B3 |
| 03/31/2023 | 06/20/2023 | DEFM14A |
| 06/30/2022 | 10/05/2022 | PREM14A |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Buchanan, Christopher Scott | President | Direct | Sell | 12032025 | 1.42 | 7,000 | 9,940 | 879,372 | Form |
| 2 | Buchanan, Christopher Scott | COO and President | Direct | Sell | 11052025 | 2.70 | 7,000 | 18,900 | 340,945 | Form |
| 3 | Mintz, Brandon Taylor | Chief Executive Officer | BD Investment Holdings II LLC | Sell | 11052025 | 2.57 | 92,210 | Form | ||
| 4 | Mintz, Brandon Taylor | Chief Executive Officer | BD Investment Holdings II LLC | Sell | 11052025 | 2.49 | 88,559 | Form | ||
| 5 | Mintz, Brandon Taylor | Chief Executive Officer | BD Investment Holdings II LLC | Sell | 11052025 | 2.70 | 168,967 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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