Bitcoin Depot Slides 18% on Q3 Earnings Miss and Weak Q4 Revenue Guidance
Bitcoin Depot shares dropped 18% after reporting a Q3 earnings miss and issuing weak Q4 revenue guidance. The North American Bitcoin ATM operator posted Q3 revenue of $101 M, up 10% year-over-year but below the $105 M consensus. Adjusted EBITDA reached $15 M, missing analyst estimates. For Q4, Bitcoin Depot now forecasts revenue of $112 M–$115 M, short of the $143.5 M average estimate. The company cited slower Bitcoin ATM installs, higher operating costs and a seasonal demand dip as headwinds. Traders sold off on the downbeat outlook, driving volatility in BTM stock and broader crypto equities. Monitoring transaction volumes and updated ATM deployment plans will be key to gauging near-term support. Despite near-term challenges, the Bitcoin ATM network’s long-term growth remains supported by the expanding crypto market.
Bearish
The combined Q3 earnings miss and significantly downgraded Q4 revenue guidance have triggered a clear sell-off in Bitcoin Depot stock, reflecting near-term bearish sentiment. Slower ATM installs, rising operating costs and a seasonal demand dip point to tangible headwinds in transaction volumes. Traders are likely to face elevated volatility in both BTM shares and related crypto equities as market participants reassess near-term growth prospects. While long-term expansion of the Bitcoin ATM network remains supported by the broader crypto market, immediate price action is expected to remain under downward pressure until clearer volume and deployment improvements emerge.