Bitcoin Depot signals recovery with 2025 growth and dividend potential

The return of Bitcoin Depot to growth in 2025 seems to be underestimated by the market, according to a report by Mike Colonnais, an analyst of cryptographic actions at HC Wainwright & Co.

Bitcoin Depot (Nasdaq: BTM), a Bitcoin supplier kiosks With an exhibition in 48 states, announced the results of the fourth quarter and the whole year 2024 on March 18. The total turnover of $ 573.7 million for the full year was down 17% from one year to the next. The baiia adjusted for the year also dropped from 31% to 38.7 million dollars.

The decline reflects BTM’s strategic decision to move underperformative kiosks in more profitable locations, a decision that temporarily weighed on the results but prepares the company for stronger performance in 2025, according to the Colonnais.

Q1 Guidance blurs a bullish image

The company guided that the first quarter revenues increases from 9% to 11% in annual shift with $ 154 million while EBITDA is guided at a range of $ 12 to 14 million, which implies growth of more than 200% compared to the first quarter of 2024 and significantly before estimating the consensus of $ 7.4 million.

Q1 guidelines have exceeded expectations and reflect an improvement in visibility on operational performance. The company’s ability to provide advice for the first time in more than a year is a positive signal for operational stability that the analyst wrote:

“This is the first time in a year when management has issued official financial advice, which in itself is optimistic, as we see.”

Positive perspectives for 2025

For 2025, the Colonnais projects the growth of revenues by 5%, because BTM benefits from an increase in deployments of kiosk and better profitability of its strategic repositioning efforts. The analyst also estimates that the adjusted Ebitda will increase by 24% in annual sliding, driven by the operating lever effect and the control of more strict expenses.

Management has also reiterated the possibility of launching a dividend this year, supported by the high generation of the company’s cash flow. The Colonnais stressed that this could be a significant catalyst for the confidence of investors.

“We were not surprised to see the stock react positively on the impression given an optimistic perspective of the 1T25 as well as the recent underperformance of the actions,” noted the Colonnais

The research firm maintains a purchase note on action with a price target of $ 4 despite the drop in shares of almost 15% since the start of the year.