๐๐ฐ #Bitcoin Depot: From Red to Rocket ๐๐ค
ATLANTA โ Bitcoin Depot just pulled a plot twist!
After a rough 2024, the bitcoin ATM company is back in the green โ and investors are loving it. Shares shot up 22% to $2.08 after the company absolutely crushed expectations in its Q1 earnings. ๐ฅ
๐งพ The Receipts:
Q1 Net Income: ๐ต $12.2 million (or 20ยข per share)
๐ Last year: Loss of $4.23 million ๐ฌ
๐ง Wall Street expected: $5.1 million โ oops, underestimated much?
Revenue: ๐ธ $164.2 million
๐ Last year: $138.5 million
๐ Analysts thought: $151.7 million
Howโd they do it? More kiosks, bigger transaction sizes. Simple math, big payoff. ๐ง ๐
๐ช $BTC Power Moves:
They went shopping โ and not for handbags.
๐ฆ Used $7.8 million to buy 83 more bitcoin, bringing their crypto stash to 94.35 BTC.
๐ผ Total liquidity (cash, equivalents & crypto) = $43.3 million (up from $31M at end of 2024). ๐ฅ
โญ๏ธ Looking Ahead:
Q2 revenue? Expecting low- to mid-single digit % growth from last year ๐
Nothing crazy, but steady gains = good vibes.
Meme Time ๐
Analysts: โWe expect $5M profit.โ
Bitcoin Depot:
โHold my Bitcoin.โ
๐งข๐ผ๐๐
๐๏ธ Original reporting by Chris Wack | WSJ
๐ง [email protected]
