Bitcoin Depot announced full-year 2025 revenue of $614.9 million, representing 7% year-over-year growth; gross profit increased 30% to $105.6 million; adjusted EBITDA grew 42% to $56.4 million. However, fourth quarter 2025 revenue declined from $136.8 million in the same period last year to $116 million. Chief Executive Officer Scott Buchanan attributed this decline to new state-level regulations, including transaction caps and higher compliance standards. The company projects that core revenue will decline 30% to 40% in 2026 due to the regulatory environment, but believes these changes will benefit the industry's long-term health.