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Side-by-side financial comparison of Bitcoin Depot Inc. (BTM) and iQSTEL Inc (IQST). Click either name above to swap in a different company.
Bitcoin Depot Inc. is the larger business by last-quarter revenue ($162.5M vs $84.2M, roughly 1.9× iQSTEL Inc). Bitcoin Depot Inc. runs the higher net margin — 3.4% vs -3.2%, a 6.6% gap on every dollar of revenue. On growth, Bitcoin Depot Inc. posted the faster year-over-year revenue change (20.1% vs -14.9%). Bitcoin Depot Inc. produced more free cash flow last quarter ($2.5M vs $-1.2M). Over the past eight quarters, iQSTEL Inc's revenue compounded faster (28.0% 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.
iQSTEL Inc is a technology holding company operating three core segments: telecommunications, Internet of Things (IoT), and fintech. It offers connectivity services, smart IoT monitoring solutions, and digital financial tools, mainly serving small and medium-sized enterprises and retail customers in North and South American markets.
BTM vs IQST — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $162.5M | $84.2M |
| Net Profit | $5.5M | $-2.7M |
| Gross Margin | — | 3.5% |
| Operating Margin | 7.3% | -2.9% |
| Net Margin | 3.4% | -3.2% |
| Revenue YoY | 20.1% | -14.9% |
| Net Profit YoY | 690.4% | -44.5% |
| EPS (diluted) | $0.08 | $-0.92 |
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 | — | $84.2M | ||
| Q3 25 | $162.5M | $102.9M | ||
| Q2 25 | $172.1M | $72.2M | ||
| Q1 25 | $164.2M | $57.6M | ||
| Q4 24 | — | $98.9M | ||
| Q3 24 | $135.3M | $54.2M | ||
| Q2 24 | $163.1M | $78.6M | ||
| Q1 24 | $138.5M | $51.4M |
| Q4 25 | — | $-2.7M | ||
| Q3 25 | $5.5M | $-2.3M | ||
| Q2 25 | $6.1M | $-2.3M | ||
| Q1 25 | $4.2M | $-1.1M | ||
| Q4 24 | — | $-1.9M | ||
| Q3 24 | $-939.0K | $-773.0K | ||
| Q2 24 | $-2.6M | $-2.0M | ||
| Q1 24 | $-1.5M | $-580.2K |
| Q4 25 | — | 3.5% | ||
| Q3 25 | — | 2.7% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 3.7% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | — | -2.9% | ||
| Q3 25 | 7.3% | -0.5% | ||
| Q2 25 | 9.2% | -0.9% | ||
| Q1 25 | 10.8% | -1.0% | ||
| Q4 24 | — | -0.3% | ||
| Q3 24 | 4.1% | -0.1% | ||
| Q2 24 | 4.7% | -0.4% | ||
| Q1 24 | 0.5% | -0.4% |
| Q4 25 | — | -3.2% | ||
| Q3 25 | 3.4% | -2.3% | ||
| Q2 25 | 3.5% | -3.3% | ||
| Q1 25 | 2.6% | -2.0% | ||
| Q4 24 | — | -1.9% | ||
| Q3 24 | -0.7% | -1.4% | ||
| Q2 24 | -1.6% | -2.5% | ||
| Q1 24 | -1.1% | -1.1% |
| Q4 25 | — | $-0.92 | ||
| Q3 25 | $0.08 | $-0.68 | ||
| Q2 25 | $0.16 | $-0.82 | ||
| Q1 25 | $0.20 | $-0.44 | ||
| Q4 24 | — | $-1.19 | ||
| Q3 24 | $-0.05 | $-0.40 | ||
| Q2 24 | $-0.13 | $-0.90 | ||
| Q1 24 | $-0.25 | $-0.37 |
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 | $2.2M |
| Total DebtLower is stronger | $67.5M | $4.1M |
| Stockholders' EquityBook value | $21.0M | $16.3M |
| Total Assets | $125.3M | $51.1M |
| Debt / EquityLower = less leverage | 3.21× | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.2M | ||
| Q3 25 | $59.3M | $2.3M | ||
| Q2 25 | $48.0M | $2.0M | ||
| Q1 25 | $35.0M | $1.1M | ||
| Q4 24 | — | $2.5M | ||
| Q3 24 | $32.2M | $2.1M | ||
| Q2 24 | $43.9M | $797.2K | ||
| Q1 24 | $42.2M | $2.7M |
| Q4 25 | — | $4.1M | ||
| Q3 25 | $67.5M | $2.7M | ||
| Q2 25 | $66.5M | $4.5M | ||
| Q1 25 | $56.2M | $3.5M | ||
| Q4 24 | — | $2.5M | ||
| Q3 24 | $44.5M | $3.2M | ||
| Q2 24 | $41.2M | $2.5M | ||
| Q1 24 | $37.6M | $194.0K |
| Q4 25 | — | $16.3M | ||
| Q3 25 | $21.0M | $17.9M | ||
| Q2 25 | $4.7M | $14.3M | ||
| Q1 25 | $-4.6M | $11.6M | ||
| Q4 24 | — | $11.9M | ||
| Q3 24 | $-7.9M | $8.1M | ||
| Q2 24 | $4.4M | $7.6M | ||
| Q1 24 | $5.0M | $8.4M |
| Q4 25 | — | $51.1M | ||
| Q3 25 | $125.3M | $46.9M | ||
| Q2 25 | $109.1M | $51.4M | ||
| Q1 25 | $89.7M | $42.0M | ||
| Q4 24 | — | $79.0M | ||
| Q3 24 | $87.4M | $32.4M | ||
| Q2 24 | $97.5M | $30.0M | ||
| Q1 24 | $90.1M | $22.1M |
| Q4 25 | — | 0.25× | ||
| Q3 25 | 3.21× | 0.15× | ||
| Q2 25 | 14.18× | 0.31× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | 9.27× | 0.34× | ||
| Q1 24 | 7.54× | 0.02× |
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 | $-1.2M |
| Free Cash FlowOCF − Capex | $2.5M | $-1.2M |
| FCF MarginFCF / Revenue | 1.6% | -1.5% |
| Capex IntensityCapex / Revenue | 2.5% | 0.0% |
| Cash ConversionOCF / Net Profit | 1.20× | — |
| TTM Free Cash FlowTrailing 4 quarters | $27.1M | $-4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-1.2M | ||
| Q3 25 | $6.6M | $-953.0K | ||
| Q2 25 | $10.2M | $257.7K | ||
| Q1 25 | $16.3M | $-1.9M | ||
| Q4 24 | — | $-403.7K | ||
| Q3 24 | $5.8M | $625.0K | ||
| Q2 24 | $10.1M | $-2.6M | ||
| Q1 24 | $1.3M | $-536.9K |
| Q4 25 | — | $-1.2M | ||
| Q3 25 | $2.5M | $-969.2K | ||
| Q2 25 | $9.8M | $211.7K | ||
| Q1 25 | $15.9M | $-2.0M | ||
| Q4 24 | — | $-421.3K | ||
| Q3 24 | $-1.0M | $594.5K | ||
| Q2 24 | $7.6M | $-2.6M | ||
| Q1 24 | $789.0K | $-608.5K |
| Q4 25 | — | -1.5% | ||
| Q3 25 | 1.6% | -0.9% | ||
| Q2 25 | 5.7% | 0.3% | ||
| Q1 25 | 9.7% | -3.4% | ||
| Q4 24 | — | -0.4% | ||
| Q3 24 | -0.8% | 1.1% | ||
| Q2 24 | 4.7% | -3.4% | ||
| Q1 24 | 0.6% | -1.2% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | 2.5% | 0.0% | ||
| Q2 25 | 0.2% | 0.1% | ||
| Q1 25 | 0.2% | 0.1% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | 5.0% | 0.1% | ||
| Q2 24 | 1.5% | 0.0% | ||
| Q1 24 | 0.4% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | 1.20× | — | ||
| Q2 25 | 1.67× | — | ||
| Q1 25 | 3.88× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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.
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
