Bitcoin Depot Poised for 2025 Growth, Analyst Says
Bitcoin Depot (NASDAQ: BTM) is set for a comeback in 2025, according to Mike Colonnese, a crypto equity analyst at H.C.Wainwright & Co. Despite a 17% revenue drop in 2024, the company’s strategic moves are expected to boost performance this year.
Bitcoin Depot, with kiosks in 48 states, reported $573.7 million in revenue for 2024, down 17% year-over-year. The decline was due to relocating underperforming kiosks to better locations. This temporary setback positions the company for stronger results in 2025.
For Q1 2025, the company projects a 9% to 11% revenue increase to $154 million. EBITDA is forecasted to surge over 200% to $12-$14 million. This guidance exceeds expectations, signaling operational stability. Colonnese notes, “This is the first time in a year that management has issued formal financial guidance, which is bullish.”
Colonnese projects 5% revenue growth and 24% EBITDA growth. The analyst attributes this to increased kiosk deployments and improved profitability.
The company’s Q1 2025 guidance shows revenue up 9% to 11% year-over-year. This positive outlook reflects improved operational visibility.Management also hints at a possible dividend, boosting investor confidence.
Colonnese maintains a Buy rating with a $4 price target. He says, “We were not surprised by the stock’s positive reaction, given the bullish Q1 outlook.”
Key points:
- Revenue growth from new kiosk deployments
- Improved profitability from strategic repositioning
- Potential dividend initiation
Colonnese believes these factors will drive investor confidence. Despite a 15% year-to-date share price drop,the analyst sees potential in Bitcoin Depot’s strategic decisions.
For more insights, visit H.C.Wainwright & Co.
