Growth Metrics

Bitcoin Depot (BTMWW) Operating Expenses (2022 - 2025)

Bitcoin Depot recorded quarterly Operating Expenses of $21.4 million in Q4 2025, up 16.8% quarter-over-quarter from $18.3 million in Q3 2025, and up 42.99% year-over-year from $15.0 million in Q4 2024.

Bitcoin Depot's Operating Expenses history runs 4 years deep, the most recent figure standing at $21.4 million for Q4 2025.

  • In Q4 2025, Operating Expenses rose 42.99% year-over-year to $21.4 million; the TTM figure through Dec 2025 stood at $72.1 million (up 7.22% YoY), while the FY2025 annual figure was $72.1 million, up 7.22% from the prior year.
  • Operating Expenses came in at $21.4 million for Q4 2025 at Bitcoin Depot, up from $18.3 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $21.4 million in Q4 2025 to a low of $162637.0 in Q1 2022.
  • A 4-year average of $15.8 million and a median of $16.7 million in 2024 frame the typical range for Operating Expenses.
  • Across the five-year window, Operating Expenses soared 8281.86% in 2023 and fell 15.63% in 2024, its largest moves.
  • Bitcoin Depot's Operating Expenses stood at $14.8 million in 2022, then advanced by 20.1% to $17.8 million in 2023, then dropped by 15.63% to $15.0 million in 2024, then jumped by 42.99% to $21.4 million in 2025.
  • According to Business Quant data, Operating Expenses over the past three periods registered $21.4 million, $18.3 million, and $17.0 million for Q4 2025, Q3 2025, and Q2 2025 respectively.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Morgan Stanley 330.71 Bn 197.18 Bn - 13.47 Bn
2 Goldman Sachs 318.59 Bn -618.96 Bn - 10.43 Bn
3 Schwab Charles 154.74 Bn 109.76 Bn - 3.29 Bn
4 Robinhood Markets 81.79 Bn 77.15 Bn 960.00 Mn 656.00 Mn
5 Interactive Brokers 39.54 Bn 50.13 Bn - 381.00 Mn
6 Circle Internet 25.60 Bn 24.08 Bn 35.01 Mn 242.35 Mn
7 LPL Financial Holdings 22.12 Bn 21.10 Bn - 4.45 Bn
8 Iren 21.58 Bn 19.37 Bn 144.76 Mn 81.75 Mn
9 Tradeweb Markets 21.29 Bn 20.04 Bn - 330.51 Mn
10 Bitcoin Depot - - -368.45 Mn 21.43 Mn

Historic Data

Download Data 🔒
DateValue
Dec 31, 2025 21.43 Mn
Sep 30, 2025 18.34 Mn
Jun 30, 2025 16.98 Mn
Mar 31, 2025 15.34 Mn
Dec 31, 2024 14.98 Mn
Sep 30, 2024 16.94 Mn
Jun 30, 2024 18.75 Mn
Mar 31, 2024 16.55 Mn
Dec 31, 2023 17.76 Mn
Sep 30, 2023 19.50 Mn
Jun 30, 2023 19.67 Mn
Mar 31, 2023 13.63 Mn
Dec 31, 2022 14.79 Mn
Sep 30, 2022 16.46 Mn
Jun 30, 2022 12.04 Mn
Mar 31, 2022 162,637.00