By Chris Wack
Bitcoin Depot shares were down 10% to $2.32 after the company reported third-quarter revenue that missed analysts’ expectations.
Revenue for the quarter was $179.5 million, compared with $174.8 million in the same quarter last year. Analysts polled by FactSet were looking for revenue of $185.2 million.
The company had a quarterly loss of $7.1 million, or 43 cents a share, compared with last year’s loss of $17.8 million, or $1.07 a share. Analysts had expected earnings of $7.1 million.
Bitcoin Depot had cash and cash equivalents of $29.7 million at the end of the third quarter.
The company sees 2023 revenue of $700 million to $730 million, while analysts are looking for 2023 revenue of $722 million.
Write to Chris Wack at [email protected]
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