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Side-by-side financial comparison of Bitcoin Depot Inc. (BTM) and XPLR Infrastructure, LP (XIFR). Click either name above to swap in a different company.
XPLR Infrastructure, LP is the larger business by last-quarter revenue ($249.0M vs $162.5M, roughly 1.5× Bitcoin Depot Inc.). XPLR Infrastructure, LP runs the higher net margin — 11.2% vs 3.4%, a 7.8% gap on every dollar of revenue. On growth, Bitcoin Depot Inc. posted the faster year-over-year revenue change (20.1% vs -15.3%). Bitcoin Depot Inc. produced more free cash flow last quarter ($2.5M vs $-88.0M). Over the past eight quarters, XPLR Infrastructure, LP's revenue compounded faster (-1.6% 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.
XPLR Infrastructure is a publicly traded subsidiary of NextEra Energy, is a Juno Beach, Florida-based renewable energy company.
BTM vs XIFR — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $162.5M | $249.0M |
| Net Profit | $5.5M | $28.0M |
| Gross Margin | — | — |
| Operating Margin | 7.3% | -19.3% |
| Net Margin | 3.4% | 11.2% |
| Revenue YoY | 20.1% | -15.3% |
| Net Profit YoY | 690.4% | 124.3% |
| EPS (diluted) | $0.08 | — |
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 | — | $249.0M | ||
| Q3 25 | $162.5M | $315.0M | ||
| Q2 25 | $172.1M | $342.0M | ||
| Q1 25 | $164.2M | $282.0M | ||
| Q4 24 | — | $294.0M | ||
| Q3 24 | $135.3M | $319.0M | ||
| Q2 24 | $163.1M | $360.0M | ||
| Q1 24 | $138.5M | $257.0M |
| Q4 25 | — | $28.0M | ||
| Q3 25 | $5.5M | $-37.0M | ||
| Q2 25 | $6.1M | $79.0M | ||
| Q1 25 | $4.2M | $-98.0M | ||
| Q4 24 | — | $-115.0M | ||
| Q3 24 | $-939.0K | $-40.0M | ||
| Q2 24 | $-2.6M | $62.0M | ||
| Q1 24 | $-1.5M | $70.0M |
| Q4 25 | — | -19.3% | ||
| Q3 25 | 7.3% | 1.6% | ||
| Q2 25 | 9.2% | 26.3% | ||
| Q1 25 | 10.8% | -82.6% | ||
| Q4 24 | — | -188.1% | ||
| Q3 24 | 4.1% | 15.4% | ||
| Q2 24 | 4.7% | 18.3% | ||
| Q1 24 | 0.5% | -8.2% |
| Q4 25 | — | 11.2% | ||
| Q3 25 | 3.4% | -11.7% | ||
| Q2 25 | 3.5% | 23.1% | ||
| Q1 25 | 2.6% | -34.8% | ||
| Q4 24 | — | -39.1% | ||
| Q3 24 | -0.7% | -12.5% | ||
| Q2 24 | -1.6% | 17.2% | ||
| Q1 24 | -1.1% | 27.2% |
| Q4 25 | — | — | ||
| Q3 25 | $0.08 | $-0.40 | ||
| Q2 25 | $0.16 | $0.84 | ||
| Q1 25 | $0.20 | $-1.05 | ||
| Q4 24 | — | — | ||
| Q3 24 | $-0.05 | $-0.43 | ||
| Q2 24 | $-0.13 | $0.66 | ||
| Q1 24 | $-0.25 | $0.75 |
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 | $960.0M |
| Total DebtLower is stronger | $67.5M | $6.2B |
| Stockholders' EquityBook value | $21.0M | $10.9B |
| Total Assets | $125.3M | $19.6B |
| Debt / EquityLower = less leverage | 3.21× | 0.57× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $960.0M | ||
| Q3 25 | $59.3M | $711.0M | ||
| Q2 25 | $48.0M | $880.0M | ||
| Q1 25 | $35.0M | $1.5B | ||
| Q4 24 | — | $283.0M | ||
| Q3 24 | $32.2M | $290.0M | ||
| Q2 24 | $43.9M | $281.0M | ||
| Q1 24 | $42.2M | $245.0M |
| Q4 25 | — | $6.2B | ||
| Q3 25 | $67.5M | — | ||
| Q2 25 | $66.5M | — | ||
| Q1 25 | $56.2M | — | ||
| Q4 24 | — | $5.3B | ||
| Q3 24 | $44.5M | — | ||
| Q2 24 | $41.2M | — | ||
| Q1 24 | $37.6M | — |
| Q4 25 | — | $10.9B | ||
| Q3 25 | $21.0M | $11.0B | ||
| Q2 25 | $4.7M | $11.3B | ||
| Q1 25 | $-4.6M | $12.6B | ||
| Q4 24 | — | $12.9B | ||
| Q3 24 | $-7.9M | $13.6B | ||
| Q2 24 | $4.4M | $13.9B | ||
| Q1 24 | $5.0M | $14.0B |
| Q4 25 | — | $19.6B | ||
| Q3 25 | $125.3M | $19.1B | ||
| Q2 25 | $109.1M | $20.5B | ||
| Q1 25 | $89.7M | $21.4B | ||
| Q4 24 | — | $20.3B | ||
| Q3 24 | $87.4M | $20.9B | ||
| Q2 24 | $97.5M | $21.7B | ||
| Q1 24 | $90.1M | $22.3B |
| Q4 25 | — | 0.57× | ||
| Q3 25 | 3.21× | — | ||
| Q2 25 | 14.18× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.41× | ||
| 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 | $186.0M |
| Free Cash FlowOCF − Capex | $2.5M | $-88.0M |
| FCF MarginFCF / Revenue | 1.6% | -35.3% |
| Capex IntensityCapex / Revenue | 2.5% | 110.0% |
| Cash ConversionOCF / Net Profit | 1.20× | 6.64× |
| TTM Free Cash FlowTrailing 4 quarters | $27.1M | $-219.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $186.0M | ||
| Q3 25 | $6.6M | $231.0M | ||
| Q2 25 | $10.2M | $232.0M | ||
| Q1 25 | $16.3M | $90.0M | ||
| Q4 24 | — | $283.0M | ||
| Q3 24 | $5.8M | $208.0M | ||
| Q2 24 | $10.1M | $231.0M | ||
| Q1 24 | $1.3M | $78.0M |
| Q4 25 | — | $-88.0M | ||
| Q3 25 | $2.5M | $-283.0M | ||
| Q2 25 | $9.8M | $151.0M | ||
| Q1 25 | $15.9M | $1.0M | ||
| Q4 24 | — | $231.0M | ||
| Q3 24 | $-1.0M | $152.0M | ||
| Q2 24 | $7.6M | $162.0M | ||
| Q1 24 | $789.0K | $14.0M |
| Q4 25 | — | -35.3% | ||
| Q3 25 | 1.6% | -89.8% | ||
| Q2 25 | 5.7% | 44.2% | ||
| Q1 25 | 9.7% | 0.4% | ||
| Q4 24 | — | 78.6% | ||
| Q3 24 | -0.8% | 47.6% | ||
| Q2 24 | 4.7% | 45.0% | ||
| Q1 24 | 0.6% | 5.4% |
| Q4 25 | — | 110.0% | ||
| Q3 25 | 2.5% | 163.2% | ||
| Q2 25 | 0.2% | 23.7% | ||
| Q1 25 | 0.2% | 31.6% | ||
| Q4 24 | — | 17.7% | ||
| Q3 24 | 5.0% | 17.6% | ||
| Q2 24 | 1.5% | 19.2% | ||
| Q1 24 | 0.4% | 24.9% |
| Q4 25 | — | 6.64× | ||
| Q3 25 | 1.20× | — | ||
| Q2 25 | 1.67× | 2.94× | ||
| Q1 25 | 3.88× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.73× | ||
| Q1 24 | — | 1.11× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BTM
Segment breakdown not available.
XIFR
| Renewable Energy Sales | $238.0M | 96% |
| Related Party | $8.0M | 3% |
