Bitcoin Depot Q2 net income $4.4M vs loss YoY; revenue $163.1M down 17% YoY but up 18% QoQ

Bitcoin Depot Inc.

2024-Q2 EPS reported -$0.23 revenue$301,605,000

Revenue $163.1M, down 17% YoY but up 18% QoQ from Q1 2024; operating expenses fell to $18.8M.
Net income $4.4M vs net loss of $4.0M in Q2 2023; improved 203% sequentially from Q1 loss of $4.2M.
Adjusted gross profit margin expanded 90 bps to 16.2% (non-GAAP) vs 15.3% YoY; adjusted gross profit $26.4M.
Exceeded target of over 8,000 active Bitcoin ATMs five months ahead of schedule.
Generated $10.1M in operational cash flow during Q2 2024.

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