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Side-by-side financial comparison of Bitcoin Depot Inc. (BTM) and MAXLINEAR, INC (MXL). Click either name above to swap in a different company.
Bitcoin Depot Inc. is the larger business by last-quarter revenue ($162.5M vs $137.2M, roughly 1.2× MAXLINEAR, INC). Bitcoin Depot Inc. runs the higher net margin — 3.4% vs -32.9%, a 36.3% gap on every dollar of revenue. On growth, MAXLINEAR, INC posted the faster year-over-year revenue change (43.0% vs 20.1%). Over the past eight quarters, MAXLINEAR, INC's revenue compounded faster (22.1% 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.
MaxLinear, Inc. is an American electronic hardware company. Founded in 2003, it provides highly integrated radio-frequency (RF) analog and mixed-signal semiconductor products for broadband communications applications. It is a New York Stock Exchange-traded company.
BTM vs MXL — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $162.5M | $137.2M |
| Net Profit | $5.5M | $-45.1M |
| Gross Margin | — | 57.5% |
| Operating Margin | 7.3% | 30.0% |
| Net Margin | 3.4% | -32.9% |
| Revenue YoY | 20.1% | 43.0% |
| Net Profit YoY | 690.4% | -203.0% |
| EPS (diluted) | $0.08 | $-0.52 |
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.
| Q1 26 | — | $137.2M | ||
| Q4 25 | — | $136.4M | ||
| Q3 25 | $162.5M | $126.5M | ||
| Q2 25 | $172.1M | $108.8M | ||
| Q1 25 | $164.2M | $95.9M | ||
| Q4 24 | — | $92.2M | ||
| Q3 24 | $135.3M | $81.1M | ||
| Q2 24 | $163.1M | $92.0M |
| Q1 26 | — | $-45.1M | ||
| Q4 25 | — | $-14.9M | ||
| Q3 25 | $5.5M | $-45.5M | ||
| Q2 25 | $6.1M | $-26.6M | ||
| Q1 25 | $4.2M | $-49.7M | ||
| Q4 24 | — | $-57.8M | ||
| Q3 24 | $-939.0K | $-75.8M | ||
| Q2 24 | $-2.6M | $-39.3M |
| Q1 26 | — | 57.5% | ||
| Q4 25 | — | 57.6% | ||
| Q3 25 | — | 56.9% | ||
| Q2 25 | — | 56.5% | ||
| Q1 25 | — | 56.1% | ||
| Q4 24 | — | 55.6% | ||
| Q3 24 | — | 54.4% | ||
| Q2 24 | — | 54.6% |
| Q1 26 | — | 30.0% | ||
| Q4 25 | — | -10.9% | ||
| Q3 25 | 7.3% | -32.7% | ||
| Q2 25 | 9.2% | -22.6% | ||
| Q1 25 | 10.8% | -48.0% | ||
| Q4 24 | — | -44.7% | ||
| Q3 24 | 4.1% | -82.3% | ||
| Q2 24 | 4.7% | -44.4% |
| Q1 26 | — | -32.9% | ||
| Q4 25 | — | -10.9% | ||
| Q3 25 | 3.4% | -36.0% | ||
| Q2 25 | 3.5% | -24.4% | ||
| Q1 25 | 2.6% | -51.8% | ||
| Q4 24 | — | -62.8% | ||
| Q3 24 | -0.7% | -93.4% | ||
| Q2 24 | -1.6% | -42.7% |
| Q1 26 | — | $-0.52 | ||
| Q4 25 | — | $-0.17 | ||
| Q3 25 | $0.08 | $-0.52 | ||
| Q2 25 | $0.16 | $-0.31 | ||
| Q1 25 | $0.20 | $-0.58 | ||
| Q4 24 | — | $-0.68 | ||
| Q3 24 | $-0.05 | $-0.90 | ||
| Q2 24 | $-0.13 | $-0.47 |
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 | $61.1M |
| Total DebtLower is stronger | $67.5M | $123.8M |
| Stockholders' EquityBook value | $21.0M | $454.2M |
| Total Assets | $125.3M | $771.3M |
| Debt / EquityLower = less leverage | 3.21× | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $61.1M | ||
| Q4 25 | — | $72.8M | ||
| Q3 25 | $59.3M | $111.9M | ||
| Q2 25 | $48.0M | $108.6M | ||
| Q1 25 | $35.0M | $102.8M | ||
| Q4 24 | — | $118.6M | ||
| Q3 24 | $32.2M | $148.5M | ||
| Q2 24 | $43.9M | $185.1M |
| Q1 26 | — | $123.8M | ||
| 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 26 | — | $454.2M | ||
| Q4 25 | — | $451.9M | ||
| Q3 25 | $21.0M | $464.7M | ||
| Q2 25 | $4.7M | $488.3M | ||
| Q1 25 | $-4.6M | $493.2M | ||
| Q4 24 | — | $516.3M | ||
| Q3 24 | $-7.9M | $556.9M | ||
| Q2 24 | $4.4M | $617.3M |
| Q1 26 | — | $771.3M | ||
| Q4 25 | — | $796.4M | ||
| Q3 25 | $125.3M | $808.1M | ||
| Q2 25 | $109.1M | $863.7M | ||
| Q1 25 | $89.7M | $855.3M | ||
| Q4 24 | — | $864.6M | ||
| Q3 24 | $87.4M | $895.3M | ||
| Q2 24 | $97.5M | $973.2M |
| Q1 26 | — | 0.27× | ||
| Q4 25 | — | — | ||
| Q3 25 | 3.21× | — | ||
| Q2 25 | 14.18× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 9.27× | — |
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 | — |
| Free Cash FlowOCF − Capex | $2.5M | — |
| FCF MarginFCF / Revenue | 1.6% | — |
| Capex IntensityCapex / Revenue | 2.5% | — |
| Cash ConversionOCF / Net Profit | 1.20× | — |
| TTM Free Cash FlowTrailing 4 quarters | $27.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $10.4M | ||
| Q3 25 | $6.6M | $10.1M | ||
| Q2 25 | $10.2M | $10.5M | ||
| Q1 25 | $16.3M | $-11.4M | ||
| Q4 24 | — | $-27.8M | ||
| Q3 24 | $5.8M | $-30.7M | ||
| Q2 24 | $10.1M | $-2.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $6.7M | ||
| Q3 25 | $2.5M | $4.4M | ||
| Q2 25 | $9.8M | $9.3M | ||
| Q1 25 | $15.9M | $-13.4M | ||
| Q4 24 | — | $-30.0M | ||
| Q3 24 | $-1.0M | $-34.9M | ||
| Q2 24 | $7.6M | $-5.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.9% | ||
| Q3 25 | 1.6% | 3.5% | ||
| Q2 25 | 5.7% | 8.6% | ||
| Q1 25 | 9.7% | -14.0% | ||
| Q4 24 | — | -32.6% | ||
| Q3 24 | -0.8% | -43.0% | ||
| Q2 24 | 4.7% | -6.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.7% | ||
| Q3 25 | 2.5% | 4.5% | ||
| Q2 25 | 0.2% | 1.1% | ||
| Q1 25 | 0.2% | 2.1% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | 5.0% | 5.1% | ||
| Q2 24 | 1.5% | 3.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.20× | — | ||
| Q2 25 | 1.67× | — | ||
| Q1 25 | 3.88× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
