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Side-by-side financial comparison of Bitcoin Depot Inc. (BTM) and Twin Hospitality Group Inc. (TWNP). Click either name above to swap in a different company.
Bitcoin Depot Inc. is the larger business by last-quarter revenue ($162.5M vs $82.3M, roughly 2.0× Twin Hospitality Group Inc.). Bitcoin Depot Inc. runs the higher net margin — 3.4% vs -29.7%, a 33.2% gap on every dollar of revenue. Bitcoin Depot Inc. produced more free cash flow last quarter ($2.5M vs $-7.4M).
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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
BTM vs TWNP — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $162.5M | $82.3M |
| Net Profit | $5.5M | $-24.5M |
| Gross Margin | — | — |
| Operating Margin | 7.3% | -16.2% |
| Net Margin | 3.4% | -29.7% |
| Revenue YoY | 20.1% | — |
| Net Profit YoY | 690.4% | — |
| EPS (diluted) | $0.08 | $-0.43 |
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.
| Q3 25 | $162.5M | $82.3M | ||
| Q2 25 | $172.1M | $87.8M | ||
| Q1 25 | $164.2M | $87.1M | ||
| Q3 24 | $135.3M | — | ||
| Q2 24 | $163.1M | — | ||
| Q1 24 | $138.5M | — | ||
| Q4 23 | $148.4M | — | ||
| Q3 23 | $179.5M | — |
| Q3 25 | $5.5M | $-24.5M | ||
| Q2 25 | $6.1M | $-20.8M | ||
| Q1 25 | $4.2M | $-12.1M | ||
| Q3 24 | $-939.0K | — | ||
| Q2 24 | $-2.6M | — | ||
| Q1 24 | $-1.5M | — | ||
| Q4 23 | $-8.3M | — | ||
| Q3 23 | $-7.1M | — |
| Q3 25 | 7.3% | -16.2% | ||
| Q2 25 | 9.2% | -13.2% | ||
| Q1 25 | 10.8% | -1.2% | ||
| Q3 24 | 4.1% | — | ||
| Q2 24 | 4.7% | — | ||
| Q1 24 | 0.5% | — | ||
| Q4 23 | 2.6% | — | ||
| Q3 23 | 4.1% | — |
| Q3 25 | 3.4% | -29.7% | ||
| Q2 25 | 3.5% | -23.7% | ||
| Q1 25 | 2.6% | -13.9% | ||
| Q3 24 | -0.7% | — | ||
| Q2 24 | -1.6% | — | ||
| Q1 24 | -1.1% | — | ||
| Q4 23 | -5.6% | — | ||
| Q3 23 | -4.0% | — |
| Q3 25 | $0.08 | $-0.43 | ||
| Q2 25 | $0.16 | $-0.38 | ||
| Q1 25 | $0.20 | $-0.26 | ||
| Q3 24 | $-0.05 | — | ||
| Q2 24 | $-0.13 | — | ||
| Q1 24 | $-0.25 | — | ||
| Q4 23 | — | — | ||
| Q3 23 | $-0.43 | — |
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 | — |
| Total DebtLower is stronger | $67.5M | $402.8M |
| Stockholders' EquityBook value | $21.0M | $-92.1M |
| Total Assets | $125.3M | $516.8M |
| Debt / EquityLower = less leverage | 3.21× | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $59.3M | — | ||
| Q2 25 | $48.0M | — | ||
| Q1 25 | $35.0M | — | ||
| Q3 24 | $32.2M | — | ||
| Q2 24 | $43.9M | — | ||
| Q1 24 | $42.2M | — | ||
| Q4 23 | $29.8M | — | ||
| Q3 23 | $29.7M | — |
| Q3 25 | $67.5M | $402.8M | ||
| Q2 25 | $66.5M | $411.3M | ||
| Q1 25 | $56.2M | $413.0M | ||
| Q3 24 | $44.5M | — | ||
| Q2 24 | $41.2M | — | ||
| Q1 24 | $37.6M | — | ||
| Q4 23 | $22.5M | — | ||
| Q3 23 | $20.8M | — |
| Q3 25 | $21.0M | $-92.1M | ||
| Q2 25 | $4.7M | $-78.6M | ||
| Q1 25 | $-4.6M | $-101.9M | ||
| Q3 24 | $-7.9M | — | ||
| Q2 24 | $4.4M | — | ||
| Q1 24 | $5.0M | — | ||
| Q4 23 | — | — | ||
| Q3 23 | $6.6M | — |
| Q3 25 | $125.3M | $516.8M | ||
| Q2 25 | $109.1M | $535.1M | ||
| Q1 25 | $89.7M | $544.2M | ||
| Q3 24 | $87.4M | — | ||
| Q2 24 | $97.5M | — | ||
| Q1 24 | $90.1M | — | ||
| Q4 23 | $74.3M | — | ||
| Q3 23 | $78.5M | — |
| Q3 25 | 3.21× | — | ||
| Q2 25 | 14.18× | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 9.27× | — | ||
| Q1 24 | 7.54× | — | ||
| Q4 23 | — | — | ||
| Q3 23 | 3.15× | — |
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 | $-5.9M |
| Free Cash FlowOCF − Capex | $2.5M | $-7.4M |
| FCF MarginFCF / Revenue | 1.6% | -9.0% |
| Capex IntensityCapex / Revenue | 2.5% | 1.9% |
| Cash ConversionOCF / Net Profit | 1.20× | — |
| TTM Free Cash FlowTrailing 4 quarters | $27.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $6.6M | $-5.9M | ||
| Q2 25 | $10.2M | $-8.8M | ||
| Q1 25 | $16.3M | $-5.7M | ||
| Q3 24 | $5.8M | — | ||
| Q2 24 | $10.1M | — | ||
| Q1 24 | $1.3M | — | ||
| Q4 23 | $7.5M | — | ||
| Q3 23 | $7.0M | — |
| Q3 25 | $2.5M | $-7.4M | ||
| Q2 25 | $9.8M | $-10.6M | ||
| Q1 25 | $15.9M | $-9.7M | ||
| Q3 24 | $-1.0M | — | ||
| Q2 24 | $7.6M | — | ||
| Q1 24 | $789.0K | — | ||
| Q4 23 | — | — | ||
| Q3 23 | $7.0M | — |
| Q3 25 | 1.6% | -9.0% | ||
| Q2 25 | 5.7% | -12.1% | ||
| Q1 25 | 9.7% | -11.2% | ||
| Q3 24 | -0.8% | — | ||
| Q2 24 | 4.7% | — | ||
| Q1 24 | 0.6% | — | ||
| Q4 23 | — | — | ||
| Q3 23 | 3.9% | — |
| Q3 25 | 2.5% | 1.9% | ||
| Q2 25 | 0.2% | 2.1% | ||
| Q1 25 | 0.2% | 4.6% | ||
| Q3 24 | 5.0% | — | ||
| Q2 24 | 1.5% | — | ||
| Q1 24 | 0.4% | — | ||
| Q4 23 | — | — | ||
| Q3 23 | 0.0% | — |
| Q3 25 | 1.20× | — | ||
| Q2 25 | 1.67× | — | ||
| Q1 25 | 3.88× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
