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Side-by-side financial comparison of Bitcoin Depot Inc. (BTM) and Emerald Holding, Inc. (EEX). Click either name above to swap in a different company.
Bitcoin Depot Inc. is the larger business by last-quarter revenue ($162.5M vs $132.7M, roughly 1.2× Emerald Holding, Inc.). Bitcoin Depot Inc. runs the higher net margin — 3.4% vs -22.8%, a 26.2% gap on every dollar of revenue. On growth, Emerald Holding, Inc. posted the faster year-over-year revenue change (24.3% vs 20.1%). Emerald Holding, Inc. produced more free cash flow last quarter ($11.7M vs $2.5M). Over the past eight quarters, Emerald Holding, Inc.'s revenue compounded faster (-0.3% CAGR vs -4.9%).
Bitcoin Depot Inc. is one of the largest cryptocurrency ATM operators across North America. It provides retail consumers with accessible in-person kiosks to buy and sell Bitcoin and other leading digital assets, alongside online crypto purchase services via bank transfer. Its self-service kiosks are located in high-traffic retail spaces including grocery stores, gas stations and convenience stores.
TVS Emerald Haven Realty Limited is an Indian real estate development company headquartered in Chennai, Tamil Nadu. A subsidiary of TVS Holdings, it specializes in sustainable residential communities and urban development projects.
BTM vs EEX — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $162.5M | $132.7M |
| Net Profit | $5.5M | $-30.2M |
| Gross Margin | — | — |
| Operating Margin | 7.3% | -11.8% |
| Net Margin | 3.4% | -22.8% |
| Revenue YoY | 20.1% | 24.3% |
| Net Profit YoY | 690.4% | -692.2% |
| EPS (diluted) | $0.08 | $-0.15 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $132.7M | ||
| Q3 25 | $162.5M | $77.5M | ||
| Q2 25 | $172.1M | $105.5M | ||
| Q1 25 | $164.2M | $147.7M | ||
| Q4 24 | — | $106.8M | ||
| Q3 24 | $135.3M | $72.6M | ||
| Q2 24 | $163.1M | $86.0M | ||
| Q1 24 | $138.5M | $133.4M |
| Q4 25 | — | $-30.2M | ||
| Q3 25 | $5.5M | $-14.4M | ||
| Q2 25 | $6.1M | $-1.4M | ||
| Q1 25 | $4.2M | $15.3M | ||
| Q4 24 | — | $5.1M | ||
| Q3 24 | $-939.0K | $-11.1M | ||
| Q2 24 | $-2.6M | $-2.8M | ||
| Q1 24 | $-1.5M | $11.0M |
| Q4 25 | — | -11.8% | ||
| Q3 25 | 7.3% | -10.1% | ||
| Q2 25 | 9.2% | 9.7% | ||
| Q1 25 | 10.8% | 24.2% | ||
| Q4 24 | — | 19.5% | ||
| Q3 24 | 4.1% | -6.5% | ||
| Q2 24 | 4.7% | 7.4% | ||
| Q1 24 | 0.5% | 18.2% |
| Q4 25 | — | -22.8% | ||
| Q3 25 | 3.4% | -18.6% | ||
| Q2 25 | 3.5% | -1.3% | ||
| Q1 25 | 2.6% | 10.4% | ||
| Q4 24 | — | 4.8% | ||
| Q3 24 | -0.7% | -15.3% | ||
| Q2 24 | -1.6% | -3.3% | ||
| Q1 24 | -1.1% | 8.2% |
| Q4 25 | — | $-0.15 | ||
| Q3 25 | $0.08 | $-0.07 | ||
| Q2 25 | $0.16 | $-0.01 | ||
| Q1 25 | $0.20 | $0.08 | ||
| Q4 24 | — | $0.01 | ||
| Q3 24 | $-0.05 | $-0.05 | ||
| Q2 24 | $-0.13 | $-0.03 | ||
| Q1 24 | $-0.25 | $0.00 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $59.3M | $100.9M |
| Total DebtLower is stronger | $67.5M | — |
| Stockholders' EquityBook value | $21.0M | $338.8M |
| Total Assets | $125.3M | $1.2B |
| Debt / EquityLower = less leverage | 3.21× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $100.9M | ||
| Q3 25 | $59.3M | $95.4M | ||
| Q2 25 | $48.0M | $156.4M | ||
| Q1 25 | $35.0M | $276.8M | ||
| Q4 24 | — | $194.8M | ||
| Q3 24 | $32.2M | $188.9M | ||
| Q2 24 | $43.9M | $193.2M | ||
| Q1 24 | $42.2M | $186.8M |
| Q4 25 | — | — | ||
| Q3 25 | $67.5M | — | ||
| Q2 25 | $66.5M | — | ||
| Q1 25 | $56.2M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $44.5M | — | ||
| Q2 24 | $41.2M | — | ||
| Q1 24 | $37.6M | — |
| Q4 25 | — | $338.8M | ||
| Q3 25 | $21.0M | $369.5M | ||
| Q2 25 | $4.7M | $389.4M | ||
| Q1 25 | $-4.6M | $392.1M | ||
| Q4 24 | — | $385.9M | ||
| Q3 24 | $-7.9M | $391.1M | ||
| Q2 24 | $4.4M | $407.6M | ||
| Q1 24 | $5.0M | $-90.7M |
| Q4 25 | — | $1.2B | ||
| Q3 25 | $125.3M | $1.2B | ||
| Q2 25 | $109.1M | $1.2B | ||
| Q1 25 | $89.7M | $1.2B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | $87.4M | $1.1B | ||
| Q2 24 | $97.5M | $1.1B | ||
| Q1 24 | $90.1M | $1.1B |
| Q4 25 | — | — | ||
| Q3 25 | 3.21× | — | ||
| Q2 25 | 14.18× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 9.27× | — | ||
| Q1 24 | 7.54× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $6.6M | $12.3M |
| Free Cash FlowOCF − Capex | $2.5M | $11.7M |
| FCF MarginFCF / Revenue | 1.6% | 8.8% |
| Capex IntensityCapex / Revenue | 2.5% | 0.5% |
| Cash ConversionOCF / Net Profit | 1.20× | — |
| TTM Free Cash FlowTrailing 4 quarters | $27.1M | $41.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $12.3M | ||
| Q3 25 | $6.6M | $1.8M | ||
| Q2 25 | $10.2M | $15.9M | ||
| Q1 25 | $16.3M | $12.6M | ||
| Q4 24 | — | $20.6M | ||
| Q3 24 | $5.8M | $9.1M | ||
| Q2 24 | $10.1M | $9.8M | ||
| Q1 24 | $1.3M | $7.3M |
| Q4 25 | — | $11.7M | ||
| Q3 25 | $2.5M | $1.5M | ||
| Q2 25 | $9.8M | $15.8M | ||
| Q1 25 | $15.9M | $12.4M | ||
| Q4 24 | — | $19.9M | ||
| Q3 24 | $-1.0M | $9.0M | ||
| Q2 24 | $7.6M | $9.6M | ||
| Q1 24 | $789.0K | $7.0M |
| Q4 25 | — | 8.8% | ||
| Q3 25 | 1.6% | 1.9% | ||
| Q2 25 | 5.7% | 15.0% | ||
| Q1 25 | 9.7% | 8.4% | ||
| Q4 24 | — | 18.6% | ||
| Q3 24 | -0.8% | 12.4% | ||
| Q2 24 | 4.7% | 11.2% | ||
| Q1 24 | 0.6% | 5.2% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | 2.5% | 0.4% | ||
| Q2 25 | 0.2% | 0.1% | ||
| Q1 25 | 0.2% | 0.1% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | 5.0% | 0.1% | ||
| Q2 24 | 1.5% | 0.2% | ||
| Q1 24 | 0.4% | 0.2% |
| Q4 25 | — | — | ||
| Q3 25 | 1.20× | — | ||
| Q2 25 | 1.67× | — | ||
| Q1 25 | 3.88× | 0.82× | ||
| Q4 24 | — | 4.04× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.66× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BTM
Segment breakdown not available.
EEX
| Connections Segment | $121.9M | 92% |
| Commerce Segment | $5.5M | 4% |
| Content | $5.3M | 4% |
