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Side-by-side financial comparison of Bitcoin Depot Inc. (BTM) and ONESPAWORLD HOLDINGS Ltd (OSW). Click either name above to swap in a different company.
ONESPAWORLD HOLDINGS Ltd is the larger business by last-quarter revenue ($242.1M vs $162.5M, roughly 1.5× Bitcoin Depot Inc.). ONESPAWORLD HOLDINGS Ltd runs the higher net margin — 5.0% vs 3.4%, a 1.6% gap on every dollar of revenue. On growth, Bitcoin Depot Inc. posted the faster year-over-year revenue change (20.1% vs 11.5%). ONESPAWORLD HOLDINGS Ltd produced more free cash flow last quarter ($14.9M vs $2.5M). Over the past eight quarters, ONESPAWORLD HOLDINGS Ltd's revenue compounded faster (7.1% 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.
BTM vs OSW — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $162.5M | $242.1M |
| Net Profit | $5.5M | $12.1M |
| Gross Margin | — | — |
| Operating Margin | 7.3% | 6.8% |
| Net Margin | 3.4% | 5.0% |
| Revenue YoY | 20.1% | 11.5% |
| Net Profit YoY | 690.4% | -16.2% |
| EPS (diluted) | $0.08 | $0.12 |
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 | — | $242.1M | ||
| Q3 25 | $162.5M | $258.5M | ||
| Q2 25 | $172.1M | $240.7M | ||
| Q1 25 | $164.2M | $219.6M | ||
| Q4 24 | — | $217.2M | ||
| Q3 24 | $135.3M | $241.7M | ||
| Q2 24 | $163.1M | $224.9M | ||
| Q1 24 | $138.5M | $211.2M |
| Q4 25 | — | $12.1M | ||
| Q3 25 | $5.5M | $24.3M | ||
| Q2 25 | $6.1M | $19.9M | ||
| Q1 25 | $4.2M | $15.3M | ||
| Q4 24 | — | $14.4M | ||
| Q3 24 | $-939.0K | $21.6M | ||
| Q2 24 | $-2.6M | $15.8M | ||
| Q1 24 | $-1.5M | $21.2M |
| Q4 25 | — | 6.8% | ||
| Q3 25 | 7.3% | 10.2% | ||
| Q2 25 | 9.2% | 9.2% | ||
| Q1 25 | 10.8% | 7.7% | ||
| Q4 24 | — | 7.9% | ||
| Q3 24 | 4.1% | 10.3% | ||
| Q2 24 | 4.7% | 8.4% | ||
| Q1 24 | 0.5% | 8.0% |
| Q4 25 | — | 5.0% | ||
| Q3 25 | 3.4% | 9.4% | ||
| Q2 25 | 3.5% | 8.3% | ||
| Q1 25 | 2.6% | 7.0% | ||
| Q4 24 | — | 6.6% | ||
| Q3 24 | -0.7% | 8.9% | ||
| Q2 24 | -1.6% | 7.0% | ||
| Q1 24 | -1.1% | 10.0% |
| Q4 25 | — | $0.12 | ||
| Q3 25 | $0.08 | $0.23 | ||
| Q2 25 | $0.16 | $0.19 | ||
| Q1 25 | $0.20 | $0.15 | ||
| Q4 24 | — | $0.13 | ||
| Q3 24 | $-0.05 | $0.20 | ||
| Q2 24 | $-0.13 | $0.15 | ||
| Q1 24 | $-0.25 | $0.21 |
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 | $16.3M |
| Total DebtLower is stronger | $67.5M | $84.0M |
| Stockholders' EquityBook value | $21.0M | $542.6M |
| Total Assets | $125.3M | $707.1M |
| Debt / EquityLower = less leverage | 3.21× | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $16.3M | ||
| Q3 25 | $59.3M | $29.6M | ||
| Q2 25 | $48.0M | $35.0M | ||
| Q1 25 | $35.0M | $22.6M | ||
| Q4 24 | — | $57.4M | ||
| Q3 24 | $32.2M | $48.8M | ||
| Q2 24 | $43.9M | $62.5M | ||
| Q1 24 | $42.2M | $65.4M |
| Q4 25 | — | $84.0M | ||
| Q3 25 | $67.5M | $85.2M | ||
| Q2 25 | $66.5M | $96.2M | ||
| Q1 25 | $56.2M | $97.4M | ||
| Q4 24 | — | $98.6M | ||
| Q3 24 | $44.5M | $98.7M | ||
| Q2 24 | $41.2M | $123.8M | ||
| Q1 24 | $37.6M | $138.6M |
| Q4 25 | — | $542.6M | ||
| Q3 25 | $21.0M | $552.8M | ||
| Q2 25 | $4.7M | $548.3M | ||
| Q1 25 | $-4.6M | $530.6M | ||
| Q4 24 | — | $554.5M | ||
| Q3 24 | $-7.9M | $540.1M | ||
| Q2 24 | $4.4M | $532.7M | ||
| Q1 24 | $5.0M | $515.5M |
| Q4 25 | — | $707.1M | ||
| Q3 25 | $125.3M | $732.6M | ||
| Q2 25 | $109.1M | $731.8M | ||
| Q1 25 | $89.7M | $708.7M | ||
| Q4 24 | — | $746.4M | ||
| Q3 24 | $87.4M | $734.0M | ||
| Q2 24 | $97.5M | $756.8M | ||
| Q1 24 | $90.1M | $763.6M |
| Q4 25 | — | 0.15× | ||
| Q3 25 | 3.21× | 0.15× | ||
| Q2 25 | 14.18× | 0.18× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | 9.27× | 0.23× | ||
| Q1 24 | 7.54× | 0.27× |
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 | $20.0M |
| Free Cash FlowOCF − Capex | $2.5M | $14.9M |
| FCF MarginFCF / Revenue | 1.6% | 6.2% |
| Capex IntensityCapex / Revenue | 2.5% | 2.1% |
| Cash ConversionOCF / Net Profit | 1.20× | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | $27.1M | $68.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $20.0M | ||
| Q3 25 | $6.6M | $33.2M | ||
| Q2 25 | $10.2M | $20.3M | ||
| Q1 25 | $16.3M | $10.1M | ||
| Q4 24 | — | $16.6M | ||
| Q3 24 | $5.8M | $28.6M | ||
| Q2 24 | $10.1M | $18.7M | ||
| Q1 24 | $1.3M | $15.0M |
| Q4 25 | — | $14.9M | ||
| Q3 25 | $2.5M | $27.6M | ||
| Q2 25 | $9.8M | $17.6M | ||
| Q1 25 | $15.9M | $8.4M | ||
| Q4 24 | — | $13.2M | ||
| Q3 24 | $-1.0M | $27.5M | ||
| Q2 24 | $7.6M | $17.6M | ||
| Q1 24 | $789.0K | $13.7M |
| Q4 25 | — | 6.2% | ||
| Q3 25 | 1.6% | 10.7% | ||
| Q2 25 | 5.7% | 7.3% | ||
| Q1 25 | 9.7% | 3.8% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | -0.8% | 11.4% | ||
| Q2 24 | 4.7% | 7.8% | ||
| Q1 24 | 0.6% | 6.5% |
| Q4 25 | — | 2.1% | ||
| Q3 25 | 2.5% | 2.2% | ||
| Q2 25 | 0.2% | 1.1% | ||
| Q1 25 | 0.2% | 0.8% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | 5.0% | 0.5% | ||
| Q2 24 | 1.5% | 0.5% | ||
| Q1 24 | 0.4% | 0.6% |
| Q4 25 | — | 1.65× | ||
| Q3 25 | 1.20× | 1.36× | ||
| Q2 25 | 1.67× | 1.02× | ||
| Q1 25 | 3.88× | 0.66× | ||
| Q4 24 | — | 1.15× | ||
| Q3 24 | — | 1.33× | ||
| Q2 24 | — | 1.19× | ||
| Q1 24 | — | 0.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BTM
Segment breakdown not available.
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
