Bitcoin Depot reported a strong first quarter 2025, with revenue increasing 19% year-over-year to $164.2 million, up from $138.5 million in Q1 2024. This growth was driven by increased kiosk deployment and a higher median transaction size. Total operating expenses decreased by 7% to $15.3 million, reflecting cost optimization efforts.
The company achieved a net income of $12.2 million in Q1 2025, a significant turnaround from a net loss of $4.2 million in the prior year quarter. Adjusted gross profit surged 92% to $33.1 million, with the adjusted gross profit margin expanding by 770 basis points to 20.2%. Adjusted EBITDA dramatically increased by 315% to $20.3 million.
Bitcoin Depot generated $16.3 million in net cash flows from operations, a substantial increase from $1.3 million in Q1 2024. The company also used $7.8 million to acquire 83 more Bitcoin, bringing its total holdings for investment to 94.35 BTC as of March 31, 2025. For Q2 2025, the company expects low-to-mid-single digit revenue growth year-over-year.
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