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Side-by-side financial comparison of Bitcoin Depot Inc. (BTM) and ZIPRECRUITER, INC. (ZIP). Click either name above to swap in a different company.

Bitcoin Depot Inc. is the larger business by last-quarter revenue ($162.5M vs $111.7M, roughly 1.5× ZIPRECRUITER, INC.). Bitcoin Depot Inc. runs the higher net margin — 3.4% vs -0.7%, a 4.2% gap on every dollar of revenue. On growth, Bitcoin Depot Inc. posted the faster year-over-year revenue change (20.1% vs 0.6%). ZIPRECRUITER, INC. produced more free cash flow last quarter ($7.6M vs $2.5M). Over the past eight quarters, ZIPRECRUITER, INC.'s revenue compounded faster (-4.4% 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.

BTM vs ZIP — Head-to-Head

Bigger by revenue
BTM
BTM
1.5× larger
BTM
$162.5M
$111.7M
ZIP
Growing faster (revenue YoY)
BTM
BTM
+19.5% gap
BTM
20.1%
0.6%
ZIP
Higher net margin
BTM
BTM
4.2% more per $
BTM
3.4%
-0.7%
ZIP
More free cash flow
ZIP
ZIP
$5.1M more FCF
ZIP
$7.6M
$2.5M
BTM
Faster 2-yr revenue CAGR
ZIP
ZIP
Annualised
ZIP
-4.4%
-4.9%
BTM

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
BTM
BTM
ZIP
ZIP
Revenue
$162.5M
$111.7M
Net Profit
$5.5M
$-835.0K
Gross Margin
89.1%
Operating Margin
7.3%
3.6%
Net Margin
3.4%
-0.7%
Revenue YoY
20.1%
0.6%
Net Profit YoY
690.4%
92.3%
EPS (diluted)
$0.08
$-0.03

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.

Revenue
BTM
BTM
ZIP
ZIP
Q4 25
$111.7M
Q3 25
$162.5M
$115.0M
Q2 25
$172.1M
$112.2M
Q1 25
$164.2M
$110.1M
Q4 24
$111.0M
Q3 24
$135.3M
$117.1M
Q2 24
$163.1M
$123.7M
Q1 24
$138.5M
$122.2M
Net Profit
BTM
BTM
ZIP
ZIP
Q4 25
$-835.0K
Q3 25
$5.5M
$-9.8M
Q2 25
$6.1M
$-9.5M
Q1 25
$4.2M
$-12.8M
Q4 24
$-10.8M
Q3 24
$-939.0K
$-2.6M
Q2 24
$-2.6M
$7.0M
Q1 24
$-1.5M
$-6.5M
Gross Margin
BTM
BTM
ZIP
ZIP
Q4 25
89.1%
Q3 25
89.1%
Q2 25
89.3%
Q1 25
89.4%
Q4 24
89.6%
Q3 24
89.4%
Q2 24
89.5%
Q1 24
89.1%
Operating Margin
BTM
BTM
ZIP
ZIP
Q4 25
3.6%
Q3 25
7.3%
-4.4%
Q2 25
9.2%
-5.9%
Q1 25
10.8%
-10.6%
Q4 24
-3.6%
Q3 24
4.1%
-2.8%
Q2 24
4.7%
7.6%
Q1 24
0.5%
-0.7%
Net Margin
BTM
BTM
ZIP
ZIP
Q4 25
-0.7%
Q3 25
3.4%
-8.5%
Q2 25
3.5%
-8.5%
Q1 25
2.6%
-11.7%
Q4 24
-9.7%
Q3 24
-0.7%
-2.2%
Q2 24
-1.6%
5.7%
Q1 24
-1.1%
-5.3%
EPS (diluted)
BTM
BTM
ZIP
ZIP
Q4 25
$-0.03
Q3 25
$0.08
$-0.11
Q2 25
$0.16
$-0.10
Q1 25
$0.20
$-0.13
Q4 24
$-0.10
Q3 24
$-0.05
$-0.03
Q2 24
$-0.13
$0.07
Q1 24
$-0.25
$-0.07

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
BTM
BTM
ZIP
ZIP
Cash + ST InvestmentsLiquidity on hand
$59.3M
$188.0M
Total DebtLower is stronger
$67.5M
Stockholders' EquityBook value
$21.0M
$-77.2M
Total Assets
$125.3M
$569.7M
Debt / EquityLower = less leverage
3.21×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BTM
BTM
ZIP
ZIP
Q4 25
$188.0M
Q3 25
$59.3M
$211.8M
Q2 25
$48.0M
$203.5M
Q1 25
$35.0M
$221.1M
Q4 24
$218.4M
Q3 24
$32.2M
$225.6M
Q2 24
$43.9M
$271.7M
Q1 24
$42.2M
$282.5M
Total Debt
BTM
BTM
ZIP
ZIP
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
Stockholders' Equity
BTM
BTM
ZIP
ZIP
Q4 25
$-77.2M
Q3 25
$21.0M
$-76.1M
Q2 25
$4.7M
$-65.9M
Q1 25
$-4.6M
$-11.3M
Q4 24
$13.4M
Q3 24
$-7.9M
$13.6M
Q2 24
$4.4M
$24.4M
Q1 24
$5.0M
$12.7M
Total Assets
BTM
BTM
ZIP
ZIP
Q4 25
$569.7M
Q3 25
$125.3M
$573.6M
Q2 25
$109.1M
$592.4M
Q1 25
$89.7M
$629.4M
Q4 24
$664.1M
Q3 24
$87.4M
$652.0M
Q2 24
$97.5M
$665.3M
Q1 24
$90.1M
$662.4M
Debt / Equity
BTM
BTM
ZIP
ZIP
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
BTM
BTM
ZIP
ZIP
Operating Cash FlowLast quarter
$6.6M
$7.7M
Free Cash FlowOCF − Capex
$2.5M
$7.6M
FCF MarginFCF / Revenue
1.6%
6.8%
Capex IntensityCapex / Revenue
2.5%
0.1%
Cash ConversionOCF / Net Profit
1.20×
TTM Free Cash FlowTrailing 4 quarters
$27.1M
$9.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BTM
BTM
ZIP
ZIP
Q4 25
$7.7M
Q3 25
$6.6M
$2.6M
Q2 25
$10.2M
$10.5M
Q1 25
$16.3M
$-9.9M
Q4 24
$12.5M
Q3 24
$5.8M
$9.3M
Q2 24
$10.1M
$21.9M
Q1 24
$1.3M
$2.0M
Free Cash Flow
BTM
BTM
ZIP
ZIP
Q4 25
$7.6M
Q3 25
$2.5M
$2.2M
Q2 25
$9.8M
$10.2M
Q1 25
$15.9M
$-10.2M
Q4 24
$12.0M
Q3 24
$-1.0M
$9.2M
Q2 24
$7.6M
$21.7M
Q1 24
$789.0K
$1.9M
FCF Margin
BTM
BTM
ZIP
ZIP
Q4 25
6.8%
Q3 25
1.6%
1.9%
Q2 25
5.7%
9.1%
Q1 25
9.7%
-9.3%
Q4 24
10.8%
Q3 24
-0.8%
7.8%
Q2 24
4.7%
17.6%
Q1 24
0.6%
1.6%
Capex Intensity
BTM
BTM
ZIP
ZIP
Q4 25
0.1%
Q3 25
2.5%
0.3%
Q2 25
0.2%
0.3%
Q1 25
0.2%
0.3%
Q4 24
0.4%
Q3 24
5.0%
0.2%
Q2 24
1.5%
0.1%
Q1 24
0.4%
0.1%
Cash Conversion
BTM
BTM
ZIP
ZIP
Q4 25
Q3 25
1.20×
Q2 25
1.67×
Q1 25
3.88×
Q4 24
Q3 24
Q2 24
3.12×
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

BTM
BTM

Segment breakdown not available.

ZIP
ZIP

License$84.3M75%
Services$27.4M25%

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