Bitcoin Depot (BTM) Plunge 23.62% on Revised Revenue Guidance, Regulatory Pressures

The share price fell to its lowest level since May 2025 today, with an intraday decline of 19.92%. Bitcoin Depot (BTM) has now dropped 23.62% over three consecutive sessions, marking its steepest three-day decline in recent memory.

The selloff follows the company’s downward revision of fourth-quarter revenue guidance to $112–115 million, significantly below the $144.8 million analyst estimate. The adjustment reflects regulatory pressures, including state-level caps on cryptocurrency ATM transaction sizes and fees, which are expected to suppress near-term revenue. Bitcoin Depot also cited higher compliance costs as a drag on profitability. While third-quarter revenue of $162.5 million exceeded expectations, earnings per share of $0.08 missed forecasts and declined from $0.16 in the prior quarter, raising concerns about growth sustainability.

Despite the near-term challenges, management emphasized a long-term strategic focus on compliance and international expansion, aligning with broader industry trends. The company’s cash reserves, which rose to $72.9 million as of September 30, 2025, highlight its liquidity position. However, mixed earnings results and regulatory uncertainties have prompted a cautious investor outlook. Analysts remain divided, with some assigning a “Hold” rating amid a 54.9% year-to-date stock rally. The path forward hinges on Bitcoin Depot’s ability to navigate evolving regulations while maintaining its competitive edge in the cryptocurrency ATM sector.