Bitcoin Depot, a company operating cryptocurrency kiosks, has announced its annual financial results and provided forecasts for 2025, focusing on potential growth recovery.
2024 Results
Bitcoin Depot reported $573.7 million in revenue for 2024, down 17% from the previous year. Adjusted EBITDA also fell by 31% to $38.7 million. This decline is attributed to the strategic relocation of underperforming kiosks to more profitable locations. Analyst Mike Colonnese of H.C. Wainwright & Co. notes that this temporary downturn is expected to lead to stronger results in 2025.
First Quarter Guidance
Bitcoin Depot forecasts a 9-11% year-over-year revenue increase in the first quarter of 2025 to $154 million, with EBITDA ranging from $12 million to $14 million, exceeding consensus estimates. This reflects improved operational visibility and marks the first formal guidance in over a year.
Positive Outlook for 2025
For 2025, revenue is expected to grow by 5% due to increased kiosk deployments and strategic repositioning, boosting EBITDA by 24%. The company is considering initiating dividend payments, which could enhance investor confidence. Despite a 15% drop in stock value since the beginning of the year, analysts maintain a 'Buy' rating with a $4 price target.
Despite temporary financial losses, Bitcoin Depot shows ambitious plans for recovery and sustainable growth by 2025. The provided forecasts inspire confidence in the company's future.
