Why Bitcoin Depot Shares Are Rising Today
Portfolio Pulse from Lekha Gupta
Bitcoin Depot Inc (NASDAQ:BTM) shares are rising after the company reported preliminary Q2 results and provided 2023 guidance. The company expects Q2 revenues of $196 million-$198 million, an increase of 17%-18% Y/Y. For 2023, BTM expects revenue of $700 million-$730 million, growth of 8%-13% Y/Y, and adjusted EBITDA of $56 million-$59 million, up 37%-44% Y/Y. The company will release Q2 results on August 14, 2023.
July 21, 2023 | 4:18 pm
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Bitcoin Depot's shares are rising due to positive Q2 preliminary results and 2023 guidance. The company expects significant growth in revenues and adjusted EBITDA.
The company's positive Q2 preliminary results and 2023 guidance indicate strong performance and growth, which is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100