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Side-by-side financial comparison of Bitcoin Depot Inc. (BTM) and RADIANT LOGISTICS, INC (RLGT). Click either name above to swap in a different company.
RADIANT LOGISTICS, INC is the larger business by last-quarter revenue ($232.1M vs $162.5M, roughly 1.4× Bitcoin Depot Inc.). Bitcoin Depot Inc. runs the higher net margin — 3.4% vs 2.3%, a 1.1% gap on every dollar of revenue. On growth, Bitcoin Depot Inc. posted the faster year-over-year revenue change (20.1% vs -12.3%). RADIANT LOGISTICS, INC produced more free cash flow last quarter ($11.6M vs $2.5M). Over the past eight quarters, RADIANT LOGISTICS, INC's revenue compounded faster (12.1% 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.
Radiant Logistics, Inc. is a leading third-party logistics provider offering end-to-end supply chain solutions, domestic and international freight forwarding, warehousing, and last-mile delivery services. It primarily serves North American markets, with key client segments including retail, manufacturing, e-commerce, and industrial sectors, helping businesses optimize logistics workflows and cut operational costs.
BTM vs RLGT — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $162.5M | $232.1M |
| Net Profit | $5.5M | $5.3M |
| Gross Margin | — | — |
| Operating Margin | 7.3% | 3.2% |
| Net Margin | 3.4% | 2.3% |
| Revenue YoY | 20.1% | -12.3% |
| Net Profit YoY | 690.4% | -18.0% |
| EPS (diluted) | $0.08 | $0.11 |
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 | — | $232.1M | ||
| Q3 25 | $162.5M | $226.7M | ||
| Q2 25 | $172.1M | $220.6M | ||
| Q1 25 | $164.2M | $214.0M | ||
| Q4 24 | — | $264.5M | ||
| Q3 24 | $135.3M | $203.6M | ||
| Q2 24 | $163.1M | $206.0M | ||
| Q1 24 | $138.5M | $184.6M |
| Q4 25 | — | $5.3M | ||
| Q3 25 | $5.5M | $1.3M | ||
| Q2 25 | $6.1M | $4.9M | ||
| Q1 25 | $4.2M | $2.5M | ||
| Q4 24 | — | $6.5M | ||
| Q3 24 | $-939.0K | $3.4M | ||
| Q2 24 | $-2.6M | $4.8M | ||
| Q1 24 | $-1.5M | $-703.0K |
| Q4 25 | — | 3.2% | ||
| Q3 25 | 7.3% | 0.9% | ||
| Q2 25 | 9.2% | 2.4% | ||
| Q1 25 | 10.8% | 1.6% | ||
| Q4 24 | — | 3.3% | ||
| Q3 24 | 4.1% | 1.9% | ||
| Q2 24 | 4.7% | 2.4% | ||
| Q1 24 | 0.5% | -0.5% |
| Q4 25 | — | 2.3% | ||
| Q3 25 | 3.4% | 0.6% | ||
| Q2 25 | 3.5% | 2.2% | ||
| Q1 25 | 2.6% | 1.2% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | -0.7% | 1.7% | ||
| Q2 24 | -1.6% | 2.3% | ||
| Q1 24 | -1.1% | -0.4% |
| Q4 25 | — | $0.11 | ||
| Q3 25 | $0.08 | $0.03 | ||
| Q2 25 | $0.16 | $0.10 | ||
| Q1 25 | $0.20 | $0.05 | ||
| Q4 24 | — | $0.13 | ||
| Q3 24 | $-0.05 | $0.07 | ||
| Q2 24 | $-0.13 | $0.11 | ||
| Q1 24 | $-0.25 | $-0.02 |
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 | $31.9M |
| Total DebtLower is stronger | $67.5M | — |
| Stockholders' EquityBook value | $21.0M | $229.8M |
| Total Assets | $125.3M | $439.4M |
| Debt / EquityLower = less leverage | 3.21× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $31.9M | ||
| Q3 25 | $59.3M | $28.1M | ||
| Q2 25 | $48.0M | $22.9M | ||
| Q1 25 | $35.0M | $19.0M | ||
| Q4 24 | — | $19.9M | ||
| Q3 24 | $32.2M | $10.4M | ||
| Q2 24 | $43.9M | $24.9M | ||
| Q1 24 | $42.2M | $31.2M |
| 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 | — | $229.8M | ||
| Q3 25 | $21.0M | $225.7M | ||
| Q2 25 | $4.7M | $226.0M | ||
| Q1 25 | $-4.6M | $218.2M | ||
| Q4 24 | — | $214.4M | ||
| Q3 24 | $-7.9M | $212.4M | ||
| Q2 24 | $4.4M | $209.4M | ||
| Q1 24 | $5.0M | $206.0M |
| Q4 25 | — | $439.4M | ||
| Q3 25 | $125.3M | $445.3M | ||
| Q2 25 | $109.1M | $426.8M | ||
| Q1 25 | $89.7M | $414.5M | ||
| Q4 24 | — | $386.8M | ||
| Q3 24 | $87.4M | $375.3M | ||
| Q2 24 | $97.5M | $371.2M | ||
| Q1 24 | $90.1M | $364.0M |
| 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 | $12.4M |
| Free Cash FlowOCF − Capex | $2.5M | $11.6M |
| FCF MarginFCF / Revenue | 1.6% | 5.0% |
| Capex IntensityCapex / Revenue | 2.5% | 0.3% |
| Cash ConversionOCF / Net Profit | 1.20× | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $27.1M | $8.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $12.4M | ||
| Q3 25 | $6.6M | $2.5M | ||
| Q2 25 | $10.2M | $3.1M | ||
| Q1 25 | $16.3M | $-5.7M | ||
| Q4 24 | — | $15.7M | ||
| Q3 24 | $5.8M | $205.0K | ||
| Q2 24 | $10.1M | $1.3M | ||
| Q1 24 | $1.3M | $3.9M |
| Q4 25 | — | $11.6M | ||
| Q3 25 | $2.5M | $977.0K | ||
| Q2 25 | $9.8M | $2.2M | ||
| Q1 25 | $15.9M | $-6.4M | ||
| Q4 24 | — | $14.1M | ||
| Q3 24 | $-1.0M | $-1.9M | ||
| Q2 24 | $7.6M | $-185.0K | ||
| Q1 24 | $789.0K | $1.8M |
| Q4 25 | — | 5.0% | ||
| Q3 25 | 1.6% | 0.4% | ||
| Q2 25 | 5.7% | 1.0% | ||
| Q1 25 | 9.7% | -3.0% | ||
| Q4 24 | — | 5.3% | ||
| Q3 24 | -0.8% | -0.9% | ||
| Q2 24 | 4.7% | -0.1% | ||
| Q1 24 | 0.6% | 1.0% |
| Q4 25 | — | 0.3% | ||
| Q3 25 | 2.5% | 0.7% | ||
| Q2 25 | 0.2% | 0.4% | ||
| Q1 25 | 0.2% | 0.3% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | 5.0% | 1.0% | ||
| Q2 24 | 1.5% | 0.7% | ||
| Q1 24 | 0.4% | 1.2% |
| Q4 25 | — | 2.33× | ||
| Q3 25 | 1.20× | 1.90× | ||
| Q2 25 | 1.67× | 0.63× | ||
| Q1 25 | 3.88× | -2.26× | ||
| Q4 24 | — | 2.43× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | — | 0.26× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BTM
Segment breakdown not available.
RLGT
| Transferred Over Time | $201.2M | 87% |
| Other | $25.0M | 11% |
| Value Added Services | $4.2M | 2% |
| Transferred At Point In Time | $1.8M | 1% |
