BTM Stock Forecast & Price Target

Bitcoin Depot Inc. demonstrated strong financial performance in 2Q25, reporting total revenues of $172.1 million, which represents a 5% quarter-over-quarter increase and a 6% year-over-year rise, surpassing consensus estimates. This revenue growth can be attributed to an increase in the average number of deployed kiosks and a notable 30% year-over-year increase in median transaction size, indicating solid demand for its services. Additionally, the company continued to expand its network, with nearly 9,000 kiosks installed by the end of June, reflecting a positive trend in its operational capacity and market presence.

Bitcoin Depot Inc.'s financial performance indicates a downturn, as adjusted gross profit for the quarter decreased to $32.7 million, representing a margin of 19.0%, which is lower than the previous quarter's $33.1 million and 20.2% margin. Additionally, the company's adjusted EBITDA fell to $18.5 million with a margin of 10.8%, down from $20.3 million and 12.4% in the prior quarter, highlighting a concerning trend in profitability despite surpassing consensus estimates. Moreover, the presence of significant losses attributable to Legacy Bitcoin Depot unit holders raises further concerns about the sustainability of the company's profitability and overall financial health.