{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-219660","form_type":"8-K","ticker":"BTM","cik":"0001901799","company_name":"Bitcoin Depot Inc.","filed_at":"2026-05-12T20:42:42+00:00","discovered_at":"2026-05-12T20:43:00.268561+00:00","generated_at":"2026-05-12T20:44:09.499945+00:00","sec_items":["2.02","5.02"],"event_type":"earnings","sentiment":"negative","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"Bitcoin Depot Q1 revenue drops 49.2%, net loss $9.5M, going concern doubt","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-219660","json":"https://secwatch.observer/filing/0001193125-26-219660.json","markdown":"https://secwatch.observer/filing/0001193125-26-219660.md","text":"https://secwatch.observer/filing/0001193125-26-219660.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1901799/000119312526219660/0001193125-26-219660-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1901799/000119312526219660/btm-20260512.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-12T20:44:09.499945+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"b4f7f841a03b4c65a5b81b6550cec5d9be64b710","claim":"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.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1901799/000119312526219660/0001193125-26-219660-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the three months ended March 31, 2026"},{"label":"Revenue","value":"decreased by $80.7 million, or 49.2%"},{"label":"Net income","value":"Net loss was $9.5 million"},{"label":"Result","value":"preliminary results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}