Bitcoin Depot Q1 revenue drops 49.2%, net loss $9.5M, going concern doubt

Bitcoin Depot Inc.

Revenue fell $80.7M YoY (49.2%) to ~$83.5M; gross profit down 85.5% to $4.5M.
Net loss of $9.5M vs net income of $12.2M in Q1 2025; operating expenses up 32.3%.
Cash and equivalents $44.0M (Dec 31 2025: $65.6M); management cites substantial doubt about ability to continue as going concern.
Over $20M in legal judgments accrued in Q4 2025; regulatory bans and enhanced KYC driving volume declines.
Retention bonuses of $600k to CFO David Gray and $550k to GC Christopher Ryan, payable May 8, 2026.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bitcoin Depot Inc. reported the three months ended March 31, 2026 results: revenue decreased by $80.7 million, or 49.2%, net income Net loss was $9.5 million.

Period: the three months ended March 31, 2026
Revenue: decreased by $80.7 million, or 49.2%
Net income: Net loss was $9.5 million
Result: preliminary results

Exact text from the filing

of operations for the fiscal quarter ended March 31, 2026 differed significantly from its results of operations for the fiscal quarter ended March 31, 2025. Revenue decreased by $80.7 million, or 49.2%, for the three months ended March 31, 2026 as compared to the three months ended March 31, 2025, primarily due to a decrease in transaction volume driven by a

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Source: SEC EDGAR

accession 0001193125-26-219660

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