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Side-by-side financial comparison of Bitcoin Depot Inc. (BTM) and VINCE HOLDING CORP. (VNCE). Click either name above to swap in a different company.
Bitcoin Depot Inc. is the larger business by last-quarter revenue ($162.5M vs $85.1M, roughly 1.9× VINCE HOLDING CORP.). Bitcoin Depot Inc. runs the higher net margin — 3.4% vs 3.2%, a 0.2% gap on every dollar of revenue. On growth, Bitcoin Depot Inc. posted the faster year-over-year revenue change (20.1% vs 6.2%). Bitcoin Depot Inc. produced more free cash flow last quarter ($2.5M vs $-5.7M). Over the past eight quarters, VINCE HOLDING CORP.'s revenue compounded faster (6.3% 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.
VINCE. is a contemporary clothing fashion brand founded in 2002. In 2023 Authentic Brands Group purchased its intellectual property in a $76.5 million deal.
BTM vs VNCE — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $162.5M | $85.1M |
| Net Profit | $5.5M | $2.7M |
| Gross Margin | — | 49.2% |
| Operating Margin | 7.3% | 6.4% |
| Net Margin | 3.4% | 3.2% |
| Revenue YoY | 20.1% | 6.2% |
| Net Profit YoY | 690.4% | -37.3% |
| EPS (diluted) | $0.08 | $0.21 |
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 | — | $85.1M | ||
| Q3 25 | $162.5M | $73.2M | ||
| Q2 25 | $172.1M | $57.9M | ||
| Q1 25 | $164.2M | $80.0M | ||
| Q4 24 | — | $80.2M | ||
| Q3 24 | $135.3M | $74.2M | ||
| Q2 24 | $163.1M | $59.2M | ||
| Q1 24 | $138.5M | $75.3M |
| Q4 25 | — | $2.7M | ||
| Q3 25 | $5.5M | $12.1M | ||
| Q2 25 | $6.1M | $-4.8M | ||
| Q1 25 | $4.2M | $-28.3M | ||
| Q4 24 | — | $4.3M | ||
| Q3 24 | $-939.0K | $569.0K | ||
| Q2 24 | $-2.6M | $4.4M | ||
| Q1 24 | $-1.5M | $-4.7M |
| Q4 25 | — | 49.2% | ||
| Q3 25 | — | 50.4% | ||
| Q2 25 | — | 50.3% | ||
| Q1 25 | — | 50.1% | ||
| Q4 24 | — | 50.0% | ||
| Q3 24 | — | 47.4% | ||
| Q2 24 | — | 50.6% | ||
| Q1 24 | — | 45.4% |
| Q4 25 | — | 6.4% | ||
| Q3 25 | 7.3% | 15.2% | ||
| Q2 25 | 9.2% | -7.7% | ||
| Q1 25 | 10.8% | -37.1% | ||
| Q4 24 | — | 7.2% | ||
| Q3 24 | 4.1% | 1.5% | ||
| Q2 24 | 4.7% | 9.5% | ||
| Q1 24 | 0.5% | -2.2% |
| Q4 25 | — | 3.2% | ||
| Q3 25 | 3.4% | 16.5% | ||
| Q2 25 | 3.5% | -8.3% | ||
| Q1 25 | 2.6% | -35.5% | ||
| Q4 24 | — | 5.4% | ||
| Q3 24 | -0.7% | 0.8% | ||
| Q2 24 | -1.6% | 7.4% | ||
| Q1 24 | -1.1% | -6.2% |
| Q4 25 | — | $0.21 | ||
| Q3 25 | $0.08 | $0.93 | ||
| Q2 25 | $0.16 | $-0.37 | ||
| Q1 25 | $0.20 | $-2.25 | ||
| Q4 24 | — | $0.34 | ||
| Q3 24 | $-0.05 | $0.05 | ||
| Q2 24 | $-0.13 | $0.35 | ||
| Q1 24 | $-0.25 | $-0.37 |
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 | $1.1M |
| Total DebtLower is stronger | $67.5M | — |
| Stockholders' EquityBook value | $21.0M | $53.4M |
| Total Assets | $125.3M | $246.0M |
| Debt / EquityLower = less leverage | 3.21× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.1M | ||
| Q3 25 | $59.3M | $777.0K | ||
| Q2 25 | $48.0M | $2.6M | ||
| Q1 25 | $35.0M | $607.0K | ||
| Q4 24 | — | $892.0K | ||
| Q3 24 | $32.2M | $711.0K | ||
| Q2 24 | $43.9M | $739.0K | ||
| Q1 24 | $42.2M | $357.0K |
| 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 | — | $53.4M | ||
| Q3 25 | $21.0M | $49.3M | ||
| Q2 25 | $4.7M | $37.2M | ||
| Q1 25 | $-4.6M | $41.8M | ||
| Q4 24 | — | $57.1M | ||
| Q3 24 | $-7.9M | $52.4M | ||
| Q2 24 | $4.4M | $51.7M | ||
| Q1 24 | $5.0M | $47.2M |
| Q4 25 | — | $246.0M | ||
| Q3 25 | $125.3M | $239.0M | ||
| Q2 25 | $109.1M | $218.0M | ||
| Q1 25 | $89.7M | $222.7M | ||
| Q4 24 | — | $254.7M | ||
| Q3 24 | $87.4M | $253.6M | ||
| Q2 24 | $97.5M | $223.1M | ||
| Q1 24 | $90.1M | $225.1M |
| 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 | $-5.1M |
| Free Cash FlowOCF − Capex | $2.5M | $-5.7M |
| FCF MarginFCF / Revenue | 1.6% | -6.7% |
| Capex IntensityCapex / Revenue | 2.5% | 0.7% |
| Cash ConversionOCF / Net Profit | 1.20× | -1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $27.1M | $4.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-5.1M | ||
| Q3 25 | $6.6M | $4.2M | ||
| Q2 25 | $10.2M | $-11.8M | ||
| Q1 25 | $16.3M | $22.7M | ||
| Q4 24 | — | $6.4M | ||
| Q3 24 | $5.8M | $-3.2M | ||
| Q2 24 | $10.1M | $-3.9M | ||
| Q1 24 | $1.3M | $14.8M |
| Q4 25 | — | $-5.7M | ||
| Q3 25 | $2.5M | $2.1M | ||
| Q2 25 | $9.8M | $-13.2M | ||
| Q1 25 | $15.9M | $21.2M | ||
| Q4 24 | — | $5.1M | ||
| Q3 24 | $-1.0M | $-3.9M | ||
| Q2 24 | $7.6M | $-4.6M | ||
| Q1 24 | $789.0K | $14.2M |
| Q4 25 | — | -6.7% | ||
| Q3 25 | 1.6% | 2.9% | ||
| Q2 25 | 5.7% | -22.9% | ||
| Q1 25 | 9.7% | 26.5% | ||
| Q4 24 | — | 6.4% | ||
| Q3 24 | -0.8% | -5.2% | ||
| Q2 24 | 4.7% | -7.8% | ||
| Q1 24 | 0.6% | 18.9% |
| Q4 25 | — | 0.7% | ||
| Q3 25 | 2.5% | 2.9% | ||
| Q2 25 | 0.2% | 2.5% | ||
| Q1 25 | 0.2% | 1.9% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | 5.0% | 0.9% | ||
| Q2 24 | 1.5% | 1.3% | ||
| Q1 24 | 0.4% | 0.7% |
| Q4 25 | — | -1.86× | ||
| Q3 25 | 1.20× | 0.35× | ||
| Q2 25 | 1.67× | — | ||
| Q1 25 | 3.88× | — | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | — | -5.61× | ||
| Q2 24 | — | -0.89× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BTM
Segment breakdown not available.
VNCE
| Vince Wholesale | $52.0M | 61% |
| Vince Direct To Consumer | $33.1M | 39% |
