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Side-by-side financial comparison of Bitcoin Depot Inc. (BTM) and Flywire Corp (FLYW). Click either name above to swap in a different company.
Bitcoin Depot Inc. is the larger business by last-quarter revenue ($162.5M vs $157.5M, roughly 1.0× Flywire Corp). Bitcoin Depot Inc. runs the higher net margin — 3.4% vs 0.0%, a 3.4% gap on every dollar of revenue. On growth, Flywire Corp posted the faster year-over-year revenue change (34.0% vs 20.1%). Flywire Corp produced more free cash flow last quarter ($4.5M vs $2.5M). Over the past eight quarters, Flywire Corp's revenue compounded faster (17.5% 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.
Flywire Corp is a global payment and receivables solutions provider serving core verticals including education, healthcare, travel, and B2B commerce. It offers secure cross-border payment processing, currency conversion, and workflow tools for organizations and payers worldwide.
BTM vs FLYW — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $162.5M | $157.5M |
| Net Profit | $5.5M | $33.0K |
| Gross Margin | — | — |
| Operating Margin | 7.3% | -0.6% |
| Net Margin | 3.4% | 0.0% |
| Revenue YoY | 20.1% | 34.0% |
| Net Profit YoY | 690.4% | 100.2% |
| EPS (diluted) | $0.08 | $0.01 |
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 | — | $157.5M | ||
| Q3 25 | $162.5M | $200.1M | ||
| Q2 25 | $172.1M | $131.9M | ||
| Q1 25 | $164.2M | $133.5M | ||
| Q4 24 | — | $117.5M | ||
| Q3 24 | $135.3M | $156.8M | ||
| Q2 24 | $163.1M | $103.7M | ||
| Q1 24 | $138.5M | $114.1M |
| Q4 25 | — | $33.0K | ||
| Q3 25 | $5.5M | $29.6M | ||
| Q2 25 | $6.1M | $-12.0M | ||
| Q1 25 | $4.2M | $-4.2M | ||
| Q4 24 | — | $-15.9M | ||
| Q3 24 | $-939.0K | $38.9M | ||
| Q2 24 | $-2.6M | $-13.9M | ||
| Q1 24 | $-1.5M | $-6.2M |
| Q4 25 | — | -0.6% | ||
| Q3 25 | 7.3% | 16.1% | ||
| Q2 25 | 9.2% | -6.8% | ||
| Q1 25 | 10.8% | -8.2% | ||
| Q4 24 | — | -4.9% | ||
| Q3 24 | 4.1% | 12.9% | ||
| Q2 24 | 4.7% | -15.2% | ||
| Q1 24 | 0.5% | -5.2% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | 3.4% | 14.8% | ||
| Q2 25 | 3.5% | -9.1% | ||
| Q1 25 | 2.6% | -3.1% | ||
| Q4 24 | — | -13.5% | ||
| Q3 24 | -0.7% | 24.8% | ||
| Q2 24 | -1.6% | -13.4% | ||
| Q1 24 | -1.1% | -5.4% |
| Q4 25 | — | $0.01 | ||
| Q3 25 | $0.08 | $0.23 | ||
| Q2 25 | $0.16 | $-0.10 | ||
| Q1 25 | $0.20 | $-0.03 | ||
| Q4 24 | — | $-0.12 | ||
| Q3 24 | $-0.05 | $0.30 | ||
| Q2 24 | $-0.13 | $-0.11 | ||
| Q1 24 | $-0.25 | $-0.05 |
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 | $355.0M |
| Total DebtLower is stronger | $67.5M | — |
| Stockholders' EquityBook value | $21.0M | $835.2M |
| Total Assets | $125.3M | $1.3B |
| Debt / EquityLower = less leverage | 3.21× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $355.0M | ||
| Q3 25 | $59.3M | $377.3M | ||
| Q2 25 | $48.0M | $274.2M | ||
| Q1 25 | $35.0M | $255.3M | ||
| Q4 24 | — | $611.1M | ||
| Q3 24 | $32.2M | $681.1M | ||
| Q2 24 | $43.9M | $571.0M | ||
| Q1 24 | $42.2M | $619.0M |
| Q4 25 | — | — | ||
| Q3 25 | $67.5M | $15.0M | ||
| Q2 25 | $66.5M | $60.0M | ||
| Q1 25 | $56.2M | $60.0M | ||
| Q4 24 | — | $0 | ||
| Q3 24 | $44.5M | — | ||
| Q2 24 | $41.2M | — | ||
| Q1 24 | $37.6M | — |
| Q4 25 | — | $835.2M | ||
| Q3 25 | $21.0M | $829.1M | ||
| Q2 25 | $4.7M | $792.4M | ||
| Q1 25 | $-4.6M | $784.3M | ||
| Q4 24 | — | $814.8M | ||
| Q3 24 | $-7.9M | $843.2M | ||
| Q2 24 | $4.4M | $802.6M | ||
| Q1 24 | $5.0M | $-797.0M |
| Q4 25 | — | $1.3B | ||
| Q3 25 | $125.3M | $1.3B | ||
| Q2 25 | $109.1M | $1.1B | ||
| Q1 25 | $89.7M | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $87.4M | $1.2B | ||
| Q2 24 | $97.5M | $998.7M | ||
| Q1 24 | $90.1M | $998.7M |
| Q4 25 | — | — | ||
| Q3 25 | 3.21× | 0.02× | ||
| Q2 25 | 14.18× | 0.08× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | — | 0.00× | ||
| 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 | $4.9M |
| Free Cash FlowOCF − Capex | $2.5M | $4.5M |
| FCF MarginFCF / Revenue | 1.6% | 2.9% |
| Capex IntensityCapex / Revenue | 2.5% | 0.2% |
| Cash ConversionOCF / Net Profit | 1.20× | 148.06× |
| TTM Free Cash FlowTrailing 4 quarters | $27.1M | $98.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $4.9M | ||
| Q3 25 | $6.6M | $150.1M | ||
| Q2 25 | $10.2M | $24.1M | ||
| Q1 25 | $16.3M | $-78.9M | ||
| Q4 24 | — | $-28.6M | ||
| Q3 24 | $5.8M | $184.6M | ||
| Q2 24 | $10.1M | $-19.3M | ||
| Q1 24 | $1.3M | $-38.1M |
| Q4 25 | — | $4.5M | ||
| Q3 25 | $2.5M | $149.9M | ||
| Q2 25 | $9.8M | $23.5M | ||
| Q1 25 | $15.9M | $-79.1M | ||
| Q4 24 | — | $-28.7M | ||
| Q3 24 | $-1.0M | $184.4M | ||
| Q2 24 | $7.6M | $-19.7M | ||
| Q1 24 | $789.0K | $-38.3M |
| Q4 25 | — | 2.9% | ||
| Q3 25 | 1.6% | 74.9% | ||
| Q2 25 | 5.7% | 17.8% | ||
| Q1 25 | 9.7% | -59.3% | ||
| Q4 24 | — | -24.4% | ||
| Q3 24 | -0.8% | 117.6% | ||
| Q2 24 | 4.7% | -19.0% | ||
| Q1 24 | 0.6% | -33.6% |
| Q4 25 | — | 0.2% | ||
| Q3 25 | 2.5% | 0.1% | ||
| Q2 25 | 0.2% | 0.4% | ||
| Q1 25 | 0.2% | 0.1% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | 5.0% | 0.1% | ||
| Q2 24 | 1.5% | 0.3% | ||
| Q1 24 | 0.4% | 0.2% |
| Q4 25 | — | 148.06× | ||
| Q3 25 | 1.20× | 5.07× | ||
| Q2 25 | 1.67× | — | ||
| Q1 25 | 3.88× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 4.75× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BTM
Segment breakdown not available.
FLYW
| Transactions | $126.4M | 80% |
| Platform And Other Revenues | $31.1M | 20% |
