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Side-by-side financial comparison of Bitcoin Depot Inc. (BTM) and SHENANDOAH TELECOMMUNICATIONS CO (SHEN). Click either name above to swap in a different company.
Bitcoin Depot Inc. is the larger business by last-quarter revenue ($162.5M vs $91.6M, roughly 1.8× SHENANDOAH TELECOMMUNICATIONS CO). Bitcoin Depot Inc. runs the higher net margin — 3.4% vs -5.9%, a 9.3% gap on every dollar of revenue. On growth, Bitcoin Depot Inc. posted the faster year-over-year revenue change (20.1% vs 7.2%). Bitcoin Depot Inc. produced more free cash flow last quarter ($2.5M vs $-78.6M). Over the past eight quarters, SHENANDOAH TELECOMMUNICATIONS CO's revenue compounded faster (15.0% 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.
Shenandoah Telecommunications Co is a U.S. regional telecom provider offering broadband internet, wireless voice/data services, digital cable TV, and fiber-optic solutions. It serves residential, small business and enterprise clients across Mid-Atlantic states, focusing on underserved rural and suburban markets in Virginia, West Virginia, Maryland and Pennsylvania.
BTM vs SHEN — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $162.5M | $91.6M |
| Net Profit | $5.5M | $-5.4M |
| Gross Margin | — | — |
| Operating Margin | 7.3% | -1.0% |
| Net Margin | 3.4% | -5.9% |
| Revenue YoY | 20.1% | 7.2% |
| Net Profit YoY | 690.4% | -95.8% |
| EPS (diluted) | $0.08 | $-0.13 |
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 | — | $91.6M | ||
| Q3 25 | $162.5M | $89.8M | ||
| Q2 25 | $172.1M | $88.6M | ||
| Q1 25 | $164.2M | $87.9M | ||
| Q4 24 | — | $85.4M | ||
| Q3 24 | $135.3M | $87.6M | ||
| Q2 24 | $163.1M | $85.8M | ||
| Q1 24 | $138.5M | $69.2M |
| Q4 25 | — | $-5.4M | ||
| Q3 25 | $5.5M | $-9.4M | ||
| Q2 25 | $6.1M | $-9.0M | ||
| Q1 25 | $4.2M | $-9.1M | ||
| Q4 24 | — | $-2.7M | ||
| Q3 24 | $-939.0K | $-5.3M | ||
| Q2 24 | $-2.6M | $-12.9M | ||
| Q1 24 | $-1.5M | $214.7M |
| Q4 25 | — | -1.0% | ||
| Q3 25 | 7.3% | -8.0% | ||
| Q2 25 | 9.2% | -10.3% | ||
| Q1 25 | 10.8% | -6.9% | ||
| Q4 24 | — | -6.7% | ||
| Q3 24 | 4.1% | -4.8% | ||
| Q2 24 | 4.7% | -18.5% | ||
| Q1 24 | 0.5% | -4.0% |
| Q4 25 | — | -5.9% | ||
| Q3 25 | 3.4% | -10.5% | ||
| Q2 25 | 3.5% | -10.2% | ||
| Q1 25 | 2.6% | -10.4% | ||
| Q4 24 | — | -3.2% | ||
| Q3 24 | -0.7% | -6.0% | ||
| Q2 24 | -1.6% | -15.0% | ||
| Q1 24 | -1.1% | 310.0% |
| Q4 25 | — | $-0.13 | ||
| Q3 25 | $0.08 | $-0.20 | ||
| Q2 25 | $0.16 | $-0.19 | ||
| Q1 25 | $0.20 | $-0.19 | ||
| Q4 24 | — | $-0.34 | ||
| Q3 24 | $-0.05 | $-0.13 | ||
| Q2 24 | $-0.13 | $-0.24 | ||
| Q1 24 | $-0.25 | $4.25 |
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 | $27.3M |
| Total DebtLower is stronger | $67.5M | $642.4M |
| Stockholders' EquityBook value | $21.0M | $880.8M |
| Total Assets | $125.3M | $1.9B |
| Debt / EquityLower = less leverage | 3.21× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $27.3M | ||
| Q3 25 | $59.3M | $22.6M | ||
| Q2 25 | $48.0M | $29.1M | ||
| Q1 25 | $35.0M | $87.5M | ||
| Q4 24 | — | $46.3M | ||
| Q3 24 | $32.2M | $43.1M | ||
| Q2 24 | $43.9M | $43.8M | ||
| Q1 24 | $42.2M | $389.7M |
| Q4 25 | — | $642.4M | ||
| Q3 25 | $67.5M | $535.4M | ||
| Q2 25 | $66.5M | $513.1M | ||
| Q1 25 | $56.2M | $515.8M | ||
| Q4 24 | — | $418.0M | ||
| Q3 24 | $44.5M | $345.2M | ||
| Q2 24 | $41.2M | $297.4M | ||
| Q1 24 | $37.6M | $298.7M |
| Q4 25 | — | $880.8M | ||
| Q3 25 | $21.0M | $892.7M | ||
| Q2 25 | $4.7M | $902.0M | ||
| Q1 25 | $-4.6M | $910.5M | ||
| Q4 24 | — | $918.6M | ||
| Q3 24 | $-7.9M | $925.4M | ||
| Q2 24 | $4.4M | $933.1M | ||
| Q1 24 | $5.0M | $871.6M |
| Q4 25 | — | $1.9B | ||
| Q3 25 | $125.3M | $1.9B | ||
| Q2 25 | $109.1M | $1.8B | ||
| Q1 25 | $89.7M | $1.8B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $87.4M | $1.7B | ||
| Q2 24 | $97.5M | $1.7B | ||
| Q1 24 | $90.1M | $1.4B |
| Q4 25 | — | 0.73× | ||
| Q3 25 | 3.21× | 0.60× | ||
| Q2 25 | 14.18× | 0.57× | ||
| Q1 25 | — | 0.57× | ||
| Q4 24 | — | 0.46× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | 9.27× | 0.32× | ||
| Q1 24 | 7.54× | 0.34× |
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 | $28.8M |
| Free Cash FlowOCF − Capex | $2.5M | $-78.6M |
| FCF MarginFCF / Revenue | 1.6% | -85.8% |
| Capex IntensityCapex / Revenue | 2.5% | 117.2% |
| Cash ConversionOCF / Net Profit | 1.20× | — |
| TTM Free Cash FlowTrailing 4 quarters | $27.1M | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $28.8M | ||
| Q3 25 | $6.6M | $30.7M | ||
| Q2 25 | $10.2M | $20.9M | ||
| Q1 25 | $16.3M | $20.5M | ||
| Q4 24 | — | $20.6M | ||
| Q3 24 | $5.8M | $24.3M | ||
| Q2 24 | $10.1M | $2.5M | ||
| Q1 24 | $1.3M | $15.2M |
| Q4 25 | — | $-78.6M | ||
| Q3 25 | $2.5M | $-51.4M | ||
| Q2 25 | $9.8M | $-65.3M | ||
| Q1 25 | $15.9M | $-62.7M | ||
| Q4 24 | — | $-72.0M | ||
| Q3 24 | $-1.0M | $-51.3M | ||
| Q2 24 | $7.6M | $-78.3M | ||
| Q1 24 | $789.0K | $-54.9M |
| Q4 25 | — | -85.8% | ||
| Q3 25 | 1.6% | -57.2% | ||
| Q2 25 | 5.7% | -73.7% | ||
| Q1 25 | 9.7% | -71.3% | ||
| Q4 24 | — | -84.3% | ||
| Q3 24 | -0.8% | -58.5% | ||
| Q2 24 | 4.7% | -91.3% | ||
| Q1 24 | 0.6% | -79.3% |
| Q4 25 | — | 117.2% | ||
| Q3 25 | 2.5% | 91.4% | ||
| Q2 25 | 0.2% | 97.3% | ||
| Q1 25 | 0.2% | 94.7% | ||
| Q4 24 | — | 108.4% | ||
| Q3 24 | 5.0% | 86.2% | ||
| Q2 24 | 1.5% | 94.2% | ||
| Q1 24 | 0.4% | 101.2% |
| Q4 25 | — | — | ||
| Q3 25 | 1.20× | — | ||
| Q2 25 | 1.67× | — | ||
| Q1 25 | 3.88× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BTM
Segment breakdown not available.
SHEN
| Residential And SMB Incumbent Broadband | $41.5M | 45% |
| Residential And SMB Glo Fiber Expansion Markets | $23.0M | 25% |
| Commercial Fiber | $20.3M | 22% |
| RLEC Other | $6.8M | 7% |
