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Side-by-side financial comparison of Bitcoin Depot Inc. (BTM) and INSTEEL INDUSTRIES INC (IIIN). Click either name above to swap in a different company.
Bitcoin Depot Inc. is the larger business by last-quarter revenue ($162.5M vs $159.9M, roughly 1.0× INSTEEL INDUSTRIES INC). INSTEEL INDUSTRIES INC runs the higher net margin — 4.7% vs 3.4%, a 1.3% gap on every dollar of revenue. On growth, INSTEEL INDUSTRIES INC posted the faster year-over-year revenue change (23.3% vs 20.1%). Bitcoin Depot Inc. produced more free cash flow last quarter ($2.5M vs $-2.2M). Over the past eight quarters, INSTEEL INDUSTRIES INC's revenue compounded faster (12.0% 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.
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
BTM vs IIIN — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $162.5M | $159.9M |
| Net Profit | $5.5M | $7.6M |
| Gross Margin | — | 11.3% |
| Operating Margin | 7.3% | 6.0% |
| Net Margin | 3.4% | 4.7% |
| Revenue YoY | 20.1% | 23.3% |
| Net Profit YoY | 690.4% | 602.4% |
| EPS (diluted) | $0.08 | $0.39 |
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 | — | $159.9M | ||
| Q3 25 | $162.5M | $177.4M | ||
| Q2 25 | $172.1M | $179.9M | ||
| Q1 25 | $164.2M | $160.7M | ||
| Q4 24 | — | $129.7M | ||
| Q3 24 | $135.3M | $134.3M | ||
| Q2 24 | $163.1M | $145.8M | ||
| Q1 24 | $138.5M | $127.4M |
| Q4 25 | — | $7.6M | ||
| Q3 25 | $5.5M | $14.6M | ||
| Q2 25 | $6.1M | $15.2M | ||
| Q1 25 | $4.2M | $10.2M | ||
| Q4 24 | — | $1.1M | ||
| Q3 24 | $-939.0K | $4.7M | ||
| Q2 24 | $-2.6M | $6.6M | ||
| Q1 24 | $-1.5M | $6.9M |
| Q4 25 | — | 11.3% | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | — | 17.1% | ||
| Q1 25 | — | 15.3% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | 9.1% | ||
| Q2 24 | — | 10.6% | ||
| Q1 24 | — | 12.3% |
| Q4 25 | — | 6.0% | ||
| Q3 25 | 7.3% | 10.8% | ||
| Q2 25 | 9.2% | 11.0% | ||
| Q1 25 | 10.8% | 8.3% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | 4.1% | 4.5% | ||
| Q2 24 | 4.7% | 6.0% | ||
| Q1 24 | 0.5% | 7.0% |
| Q4 25 | — | 4.7% | ||
| Q3 25 | 3.4% | 8.2% | ||
| Q2 25 | 3.5% | 8.4% | ||
| Q1 25 | 2.6% | 6.4% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | -0.7% | 3.5% | ||
| Q2 24 | -1.6% | 4.5% | ||
| Q1 24 | -1.1% | 5.4% |
| Q4 25 | — | $0.39 | ||
| Q3 25 | $0.08 | $0.74 | ||
| Q2 25 | $0.16 | $0.78 | ||
| Q1 25 | $0.20 | $0.52 | ||
| Q4 24 | — | $0.06 | ||
| Q3 24 | $-0.05 | $0.24 | ||
| Q2 24 | $-0.13 | $0.34 | ||
| Q1 24 | $-0.25 | $0.35 |
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 | $15.6M |
| Total DebtLower is stronger | $67.5M | — |
| Stockholders' EquityBook value | $21.0M | $358.8M |
| Total Assets | $125.3M | $456.1M |
| Debt / EquityLower = less leverage | 3.21× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $15.6M | ||
| Q3 25 | $59.3M | $38.6M | ||
| Q2 25 | $48.0M | $53.7M | ||
| Q1 25 | $35.0M | $28.4M | ||
| Q4 24 | — | $36.0M | ||
| Q3 24 | $32.2M | $111.5M | ||
| Q2 24 | $43.9M | $97.7M | ||
| Q1 24 | $42.2M | $83.9M |
| 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 | — | $358.8M | ||
| Q3 25 | $21.0M | $371.5M | ||
| Q2 25 | $4.7M | $356.2M | ||
| Q1 25 | $-4.6M | $341.4M | ||
| Q4 24 | — | $331.6M | ||
| Q3 24 | $-7.9M | $350.9M | ||
| Q2 24 | $4.4M | $346.0M | ||
| Q1 24 | $5.0M | $340.6M |
| Q4 25 | — | $456.1M | ||
| Q3 25 | $125.3M | $462.6M | ||
| Q2 25 | $109.1M | $471.9M | ||
| Q1 25 | $89.7M | $421.9M | ||
| Q4 24 | — | $404.7M | ||
| Q3 24 | $87.4M | $422.6M | ||
| Q2 24 | $97.5M | $414.6M | ||
| Q1 24 | $90.1M | $397.2M |
| 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 | $-701.0K |
| Free Cash FlowOCF − Capex | $2.5M | $-2.2M |
| FCF MarginFCF / Revenue | 1.6% | -1.4% |
| Capex IntensityCapex / Revenue | 2.5% | 0.9% |
| Cash ConversionOCF / Net Profit | 1.20× | -0.09× |
| TTM Free Cash FlowTrailing 4 quarters | $27.1M | $439.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-701.0K | ||
| Q3 25 | $6.6M | $-17.0M | ||
| Q2 25 | $10.2M | $28.5M | ||
| Q1 25 | $16.3M | $-3.3M | ||
| Q4 24 | — | $19.0M | ||
| Q3 24 | $5.8M | $16.2M | ||
| Q2 24 | $10.1M | $18.8M | ||
| Q1 24 | $1.3M | $1.4M |
| Q4 25 | — | $-2.2M | ||
| Q3 25 | $2.5M | $-18.7M | ||
| Q2 25 | $9.8M | $26.9M | ||
| Q1 25 | $15.9M | $-5.5M | ||
| Q4 24 | — | $16.3M | ||
| Q3 24 | $-1.0M | $14.5M | ||
| Q2 24 | $7.6M | $15.5M | ||
| Q1 24 | $789.0K | $-580.0K |
| Q4 25 | — | -1.4% | ||
| Q3 25 | 1.6% | -10.6% | ||
| Q2 25 | 5.7% | 15.0% | ||
| Q1 25 | 9.7% | -3.5% | ||
| Q4 24 | — | 12.6% | ||
| Q3 24 | -0.8% | 10.8% | ||
| Q2 24 | 4.7% | 10.7% | ||
| Q1 24 | 0.6% | -0.5% |
| Q4 25 | — | 0.9% | ||
| Q3 25 | 2.5% | 1.0% | ||
| Q2 25 | 0.2% | 0.9% | ||
| Q1 25 | 0.2% | 1.4% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | 5.0% | 1.3% | ||
| Q2 24 | 1.5% | 2.2% | ||
| Q1 24 | 0.4% | 1.5% |
| Q4 25 | — | -0.09× | ||
| Q3 25 | 1.20× | -1.17× | ||
| Q2 25 | 1.67× | 1.88× | ||
| Q1 25 | 3.88× | -0.32× | ||
| Q4 24 | — | 17.56× | ||
| Q3 24 | — | 3.48× | ||
| Q2 24 | — | 2.86× | ||
| Q1 24 | — | 0.20× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BTM
Segment breakdown not available.
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
