BTM Stock Forecast & Price Target

Bitcoin Depot Inc demonstrated solid financial performance in 2Q25, reporting total revenues of $172.1 million, which represents a 5% quarter-over-quarter and 6% year-over-year increase, surpassing consensus estimates. The revenue growth was primarily fueled by an increased number of deployed kiosks and a significant 30% year-over-year rise in median transaction size, indicating robust customer engagement and operational expansion. With nearly 9,000 kiosks installed by the end of June 2025, up from approximately 8,500 at the end of March, Bitcoin Depot's fundamentals reflect a positive trajectory for continued growth in the digital economy.

Bitcoin Depot reported an adjusted gross profit of $32.7 million for the quarter, indicating a decline in margins to 19.0% from the previous quarter's 20.2%, despite an improvement from the $26.4 million and 16.2% margins in the second quarter of 2024. Additionally, the company recorded adjusted EBITDA of $18.5 million with a margin of 10.8%, down from 12.4% in the prior quarter, although it exceeded consensus estimates and represented growth from $12.7 million and 7.8% margins in the previous year. Overall, the downward trend in both gross profit and EBITDA margins, despite year-over-year improvement, raises concerns regarding profitability sustainability and operational efficiency.