Bitcoin Depot’s 2025 Revenue Climbs 7% to $614.9M, EBITDA Up 42%
Bitcoin Depot reported 2025 revenue of $614.9M, up 7%, with gross profit up 30% to $105.6M and EBITDA up 42% to $56.4M, while net income declined to $5.1M from $7.8M. The company acquired P2P betting platform Kutt and forecasts 2026 revenue to fall 30–40% under stricter regulations.
1. Full Year 2025 Financial Results
For full year 2025, revenue rose 7% to $614.9 million, gross profit increased 30% to $105.6 million, and adjusted EBITDA climbed 42% to $56.4 million. Net income was $5.1 million, down from $7.8 million in 2024.
2. Q4 2025 Challenges and Arbitration Accrual
Fourth-quarter 2025 revenue fell 15% to $116.0 million from $136.8 million, with gross profit down to $15.3 million and adjusted EBITDA slipping to $1.6 million. The quarter included an $18.5 million arbitration judgment accrual, turning a prior-year net income of $5.4 million into a $24.9 million net loss.
3. Acquisition of Kutt Social Betting Platform
Post-year-end, the company acquired Kutt, a peer-to-peer social betting platform, marking its first entry into social betting and diversifying beyond its core Bitcoin ATM operations.
4. 2026 Outlook Under Evolving Regulations
Bitcoin Depot expects 2026 core business revenue to decline 30%–40% as state-level transaction caps and enhanced compliance standards weigh on near-term activity, while management views these measures as beneficial for long-term industry sustainability.