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 338.83 Bn 205.30 Bn - -
2 Goldman Sachs 316.34 Bn -660.01 Bn - -
3 Schwab Charles 220.55 Bn 135.80 Bn - -
4 Futu Holdings 121.48 Bn 105.59 Bn 733.58 Mn 19.32 Mn
5 Robinhood Markets 84.07 Bn 66.74 Bn 1.20 Bn 104.00 Mn
6 Iren 68.17 Bn 65.95 Bn 104.86 Mn 39.93 Mn
7 ATIF Holdings 45.42 Bn 45.42 Bn - -
8 Interactive Brokers 39.54 Bn -3.28 Bn - -
9 LPL Financial Holdings 28.27 Bn 25.57 Bn - -
10 Bitcoin Depot 142,950.68 -65.49 Mn 496.20 Mn -380.17 Mn

Historic Data

Download Data
DateValue
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