Bitcoin Depot (BTMCQ) Cost of Revenue (2022 - 2025)
Bitcoin Depot (BTMCQ) posted Cost of Revenue of -$380.2 million for Q4 2025, down 6197.32% sequentially from $6.2 million in Q3 2025, and down 8.54% YoY from -$415.7 million in Q4 2024.
Bitcoin Depot (BTMCQ) Cost of Revenue (2022 - 2025) Analysis & Trends
Bitcoin Depot has reported Cost of Revenue for 4 years, with the latest figure at -$380.2 million in Q4 2025.
- Quarterly Cost of Revenue fell 8.54% year-over-year to -$380.2 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was -$230.0 million (down 1216.29% YoY) and the FY2025 annual result came in at $22.7 million, up 9.98% from the prior year.
- Cost of Revenue eased to -$380.2 million in Q4 2025 per BTMCQ's latest filing, from $6.2 million in the prior quarter.
- Over five years, Cost of Revenue peaked at $153.5 million in Q3 2022 and troughed at -$380.2 million in Q4 2025.
- A 4-year average of $25.3 million and a median of $112.9 million in 2024 frame the typical range for Cost of Revenue.
- The widest YoY moves for Cost of Revenue: up 2479.4% in 2024, down 8960.16% in 2024.
- Over 4 years, Cost of Revenue stood at $130.6 million in 2022, then slumped by 96.97% to $4.0 million in 2023, then sank by 8960.16% to -$350.2 million in 2024, then declined by 8.54% to -$380.2 million in 2025.
- According to Business Quant data, Cost of Revenue over the past three periods registered -$380.2 million, $6.2 million, and $139.4 million for Q4 2025, Q3 2025, and Q2 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 333.21 Bn | 173.07 Bn | - | - |
| 2 | Goldman Sachs | 311.14 Bn | -665.21 Bn | - | - |
| 3 | Schwab Charles | 196.95 Bn | 123.36 Bn | - | - |
| 4 | Robinhood Markets | 93.19 Bn | 75.81 Bn | 1.20 Bn | 104.00 Mn |
| 5 | Interactive Brokers | 41.71 Bn | -22.59 Bn | - | - |
| 6 | LPL Financial Holdings | 29.06 Bn | 26.36 Bn | - | - |
| 7 | Tradeweb Markets | 23.03 Bn | 20.97 Bn | - | - |
| 8 | Circle Internet | 21.70 Bn | 19.97 Bn | 288.85 Mn | 412.47 Mn |
| 9 | Futu Holdings | 16.14 Bn | 214.18 Mn | 733.58 Mn | 93.63 Mn |
| 10 | Bitcoin Depot | 330,711.39 | -65.30 Mn | 17.31 Mn | 98.73 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -380.17 Mn |
| Dec 31, 2025 | -380.17 Mn |
| Sep 30, 2025 | 6.24 Mn |
| Sep 30, 2025 | 6.24 Mn |
| Jun 30, 2025 | 139.38 Mn |
| Jun 30, 2025 | 139.38 Mn |
| Mar 31, 2025 | 4.53 Mn |
| Mar 31, 2025 | 4.53 Mn |
| Dec 31, 2024 | -350.24 Mn |
| Dec 31, 2024 | -350.24 Mn |
| Sep 30, 2024 | 112.85 Mn |
| Sep 30, 2024 | 112.85 Mn |
| Jun 30, 2024 | 136.71 Mn |
| Jun 30, 2024 | 136.71 Mn |
| Mar 31, 2024 | 121.29 Mn |
| Mar 31, 2024 | 121.29 Mn |
| Dec 31, 2023 | 3.95 Mn |
| Dec 31, 2023 | 3.95 Mn |
| Sep 30, 2023 | 5.23 Mn |
| Sep 30, 2023 | 5.23 Mn |