Why Bitcoin Depot Shares Are Rising Today

Bitcoin Depot Inc BTM shares are rocketing after the company reported Q2 preliminary results and provided 2023 guidance. 

The company expects Q2 revenues of $196 million-$198 million, an increase of 17%-18% Y/Y.

For 2023, BTM expects revenue of $700 million-$730 million, growth of 8%-13% Y/Y, and adjusted EBITDA of $56 million-$59 million, up 37%-44% Y/Y.

"We continue to see significant momentum in our business and are excited to provide annual guidance for 2023 which would represent our strongest year of performance to date. As we enter the second half of 2023 we remain well-positioned to execute on our mission to safely, securely and efficiently bring crypto to the masses." said Brandon Mintz, CEO and Founder.

The company will release Q2 results on August 14, 2023.

Price Action: BTM shares are up 14% at $3.49 on the last check Friday.