March 31, 2024

(unaudited)

BT OpCo

BT HoldCo

PubCo

Eliminations

Consolidated

Assets

Current:

Cash and cash equivalents

$

41,359

$

14

$

778

$

—

$

42,151

Cryptocurrencies

441

—

—

—

441

Accounts receivable

348

—

—

—

348

Prepaid expenses and other current assets

8,436

109

221

—

8,766

Total current assets

50,584

123

999

—

51,706

Property and equipment:

Furniture and fixtures

635

—

—

—

635

Leasehold improvements

172

—

—

—

172

Kiosk machines - owned

24,667

—

—

—

24,667

Kiosk machines - leased

20,499

—

—

—

20,499

Total property and equipment

45,973

—

—

—

45,973

Less: accumulated depreciation

(23,228

)

(23,228

)

Total property and equipment, net

22,745

—

—

—

22,745

Intangible assets, net

3,502

—

—

—

3,502

Goodwill

8,717

—

—

—

8,717

Operating lease right-of-use assets, net

1,019

—

—

—

1,019

Security deposits

577

—

—

—

577

Deferred tax asset

42

—

1,762

—

1,804

Due from related parties

9,358

—

—

(9,358

)

—

Investment in Subsidiary

—

16,077

—

(16,077

)

—

Total Assets

$

96,544

$

16,200

$

2,761

$

(25,435

)

$

90,070

March 31, 2024

(unaudited)

BT OpCo

BT HoldCo

PubCo

Eliminations

Consolidated

Liabilities and Stockholders’ Equity

Current:

Accounts payable

$

10,576

$

—

$

—

$

—

$

10,576

Accrued expenses

16,804

—

2,065

—

18,869

Notes payable

3,437

—

—

—

3,437

Income taxes payable

969

—

1,576

—

2,545

Deferred revenue

912

—

—

—

912

Operating lease liabilities, current portion

454

—

—

—

454

Current installments of obligations under finance leases

5,459

—

—

—

5,459

Other tax payable

—

—

2,299

—

2,299

Total current liabilities

38,611

—

5,940

—

44,551

Long-term liabilities:

Note payable, non-current

35,863

—

—

—

35,863

Operating lease liabilities, non-current

666

—

—

—

666

Obligations under finance leases, non-current

2,293

—

—

—

2,293

Deferred income tax, net

851

—

—

—

851

Due to related parties

—

—

9,357

(9,357

)

—

Tax receivable agreement liability

—

—

865

—

865

Total Liabilities

78,284

—

16,162

(9,357

)

85,089

Commitments and Contingencies (Note 22)

Stockholders’ Equity

Series A Preferred Stock, $0.0001 par value; 50,000,000 authorized, 3,125,000 shares issued and outstanding, at December 31, 2023

—

484

—

(484

)

—

Class A common stock, $0.0001 par value; 800,000,000 authorized, 13,671,691 shares issued, and 13,551,047 shares outstanding at December 31, 2023

—

6,881

1

(6,881

)

1

Class B common stock, $0.0001 par value; 20,000,000 authorized, no shares issued and outstanding at December 31, 2023

—

—

—

—

—

Class E common stock, $0.0001 par value; 2,250,000 authorized, 1,075,761 shares issued and outstanding at December 31, 2023

—

—

—

—

—

Class M common stock, $0.0001 par value; 300,000,000 authorized, no shares issued and outstanding at December 31, 2023

—

—

—

—

—

Class O common stock, $0.0001 par value; 800,000,000 authorized, no shares issued and outstanding at December 31, 2023

—

—

—

—

—

Class V common stock, $0.0001 par value; 300,000,000 authorized, 44,100,000 shares issued and outstanding at December 31, 2023

—

—

4

—

4

Treasury stock

—

—

(437

)

—

(437

)

Stock subscriptions receivable

—

—

—

—

—

Additional paid-in capital

—

4,115

18,215

(4,115

)

18,215

Retained earnings (accumulated deficit)

—

1,775

(30,981

)

(4,995

)

(34,201

)

Equity attributed to Bitcoin Depot Inc.

15,717

(4

)

—

(15,713

)

—

Accumulated other comprehensive loss

(177

)

—

(203

)

181

(199

)

Total Stockholders’ Equity and Equity Attributable to Bitcoin Depot Inc.

15,540

13,251

(13,401

)

(32,007

)

(16,617

)

Equity attributable to non-controlling interests

2,720

2,949

—

15,929

21,598

Total Stockholders’ Equity

18,260

16,200

(13,401

)

(16,078

)

4,981

Total Liabilities and Stockholders’ Equity

$

96,544

$

16,200

$

2,761

$

(25,435

)

$

90,070

Three Months Ended March 31, 2024

(unaudited)

BT OpCo

BT HoldCo

PubCo

Eliminations

Consolidated

Revenue

$

138,539

$

—

$

—

$

—

$

138,539

Cost of revenue (excluding depreciation and amortization)

121,287

—

—

—

121,287

Operating expenses:

—

—

—

—

—

Selling, general, and administrative

12,907

—

699

—

13,606

Depreciation and amortization

2,947

—

—

—

2,947

Total operating expenses

15,854

—

699

—

16,553

Income from operations

1,398

—

(699

)

—

699

Other (expense) income:

Interest expense

4,944

—

—

—

4,944

Other (expense) income

(6

)

(3,496

)

—

3,496

(6

)

(Loss) on foreign currency transactions

127

—

—

—

127

Total other (expense) income

5,065

(3,496

)

—

3,496

5,065

Income (loss) before provision for income taxes and non-controlling interest

(3,667

)

3,496

(699

)

(3,496

)

(4,366

)

Income tax (expense) benefit

(174

)

—

36

—

(138

)

Net (loss) income

(3,493

)

3,496

(735

)

(3,496

)

(4,228

)

Net income (loss) attributable to non-controlling interest in subsidiary

4

—

—

(2,694

)

(2,690

)

Net (loss) income attributable to Bitcoin Depot Inc.

(3,497

)

(3,496

)

(735

)

6,190

(1,538

)

Other comprehensive income (loss), net of tax

Net (loss) income

(3,493

)

(3,496

)

(735

)

3,496

(4,228

)

Foreign currency translation adjustments

13

—

—

—

13

Total comprehensive (loss) income

(3,480

)

(3,496

)

(735

)

3,496

(4,215

)

Comprehensive income (loss) attributable to non-controlling interest in subsidiary

4

4

—

(2,685

)

(2,677

)

Comprehensive (loss) income attributable to Bitcoin Depot Inc.

$

(3,484

)

$

(3,500

)

$

(735

)

$

6,181

$

(1,538

)