June 30, 2024

(unaudited)

BT OpCo

BT HoldCo

PubCo

Eliminations

Consolidated

Assets

Current:

Cash and cash equivalents

$

43,058

$

13

$

871

$

—

$

43,942

Cryptocurrencies

600

—

—

—

600

Accounts receivable

317

—

—

—

317

Prepaid expenses and other current assets

5,431

133

4,213

—

9,777

Total current assets

49,406

146

5,084

—

54,636

Property and equipment:

Furniture and fixtures

635

—

—

—

635

Leasehold improvements

172

—

—

—

172

Kiosk machines - owned

27,100

—

—

—

27,100

Kiosk machines - leased

22,394

—

—

—

22,394

Total property and equipment

50,301

—

—

—

50,301

Less: accumulated depreciation

(25,758

)

(25,758

)

Total property and equipment, net

24,543

—

—

—

24,543

Intangible assets, net

3,168

—

—

—

3,168

Goodwill

8,717

—

—

—

8,717

Operating lease right-of-use assets, net

2,489

—

—

—

2,489

Security deposits

699

—

—

—

699

Deferred tax asset

41

—

3,245

—

3,286

Due from related parties

10,161

—

295

(10,456

)

—

Investment in Subsidiary

—

11,278

—

(11,278

)

—

Total Assets

$

99,224

$

11,424

$

8,624

$

(21,734

)

$

97,538

June 30, 2024

(unaudited)

BT OpCo

BT HoldCo

PubCo

Eliminations

Consolidated

Liabilities and Stockholders’ Equity

Current:

Accounts payable

$

10,275

$

3

$

48

$

—

$

10,326

Accrued expenses

19,744

—

1,847

—

21,591

Notes payable

4,366

—

—

—

4,366

Income taxes payable

1,394

—

1,417

—

2,811

Deferred revenue

13

—

—

—

13

Operating lease liabilities, current portion

813

—

—

—

813

Current installments of obligations under finance leases

4,761

—

—

—

4,761

Other tax payable

—

—

2,235

—

2,235

Total current liabilities

41,366

3

5,547

—

46,916

Long-term liabilities:

Note payable, non-current

38,793

—

—

—

38,793

Operating lease liabilities, non-current

1,754

—

—

—

1,754

Obligations under finance leases, non-current

2,653

—

—

—

2,653

Deferred income tax, net

853

—

—

—

853

Due to related parties

295

—

10,160

(10,455

)

—

Tax receivable agreement liability

—

—

2,126

—

2,126

Total Liabilities

85,714

3

17,833

(10,455

)

93,095

Commitments and Contingencies (Note 22)

Stockholders’ Equity

Series A Preferred Stock, $0.0001 par value; 50,000,000 authorized, 3,075,000 and 3,125,000 shares issued and outstanding, at June 30, 2024 and December 31, 2023, respectively

—

484

—

(484

)

—

Class A common stock, $0.0001 par value; 800,000,000 authorized, 17,345,855 and 13,602,691 shares issued, and 17,155,211 and 13,482,047 shares outstanding at June 30, 2024 and December 31, 2023, respectively

—

6,881

1

(6,881

)

1

Class B common stock, $0.0001 par value; 20,000,000 authorized, no shares issued and outstanding at March 31, 2024 and December 31, 2023

—

—

—

—

—

Class E common stock, $0.0001 par value; 2,250,000 authorized, 1,075,761 shares issued and outstanding at June 30, 2024 and December 31, 2023

—

—

—

—

—

Class M common stock, $0.0001 par value; 300,000,000 authorized, no shares issued and outstanding at June 30, 2024 and December 31, 2023

—

—

—

—

—

Class O common stock, $0.0001 par value; 800,000,000 authorized, no shares issued and outstanding at June 30, 2024 and December 31, 2023

—

—

—

—

—

Class V common stock, $0.0001 par value; 300,000,000 authorized, 41,193,024 and 44,100,000 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively

—

—

4

—

4

Treasury stock

—

—

(437

)

—

(437

)

Stock subscriptions receivable

—

—

—

—

—

Additional paid-in capital

—

4,115

20,146

(3,530

)

20,731

Retained earnings (accumulated deficit)

—

(3,005

)

(28,721

)

(5,036

)

(36,762

)

Equity attributed to Bitcoin Depot Inc.

10,914

(44

)

—

(10,870

)

—

Accumulated other comprehensive loss

(172

)

—

(202

)

176

(198

)

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

10,742

8,431

(9,209

)

(26,625

)

(16,661

)

Equity attributable to non-controlling interests

2,768

2,990

—

15,346

21,104

Total Stockholders’ Equity

13,510

11,421

(9,209

)

(11,279

)

4,443

Total Liabilities and Stockholders’ Equity

$

99,224

$

11,424

$

8,624

$

(21,734

)

$

97,538

Six Months Ended June 30, 2024

(unaudited)

BT OpCo

BT HoldCo

PubCo

Eliminations

Consolidated

Revenue

$

301,605

$

1,586

$

—

$

(1,586

)

$

301,605

Cost of revenue (excluding depreciation and amortization)

257,995

—

—

—

257,995

Operating expenses:

Selling, general, and administrative

27,771

—

1,597

—

29,368

Depreciation and amortization

5,939

—

—

—

5,939

Total operating expenses

33,710

—

1,597

—

35,307

Income from operations

9,900

1,586

(1,597

)

(1,586

)

8,303

Other (expense) income:

Interest expense

7,824

—

—

—

7,824

Other (expense) income

(29

)

—

(11

)

—

(40

)

(Loss) on foreign currency transactions

265

—

—

—

265

Total other (expense) income

8,060

—

(11

)

—

8,049

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

1,840

1,586

(1,586

)

(1,586

)

254

Income tax (expense) benefit

(254

)

—

122

—

(132

)

Net (loss) income

1,586

1,586

(1,464

)

(1,586

)

122

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

44

44

—

4,133

4,221

Net (loss) income attributable to Bitcoin Depot Inc.

1,542

1,542

(1,464

)

(5,719

)

(4,099

)

Other comprehensive income (loss), net of tax

Net (loss) income

1,586

1,586

(1,464

)

(1,586

)

122

Foreign currency translation adjustments

18

—

—

—

18

Total comprehensive (loss) income

1,604

1,586

(1,464

)

(1,586

)

140

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

44

44

—

4,146

4,234

Comprehensive (loss) income attributable to Bitcoin Depot Inc.

$

1,560

$

1,542

$

(1,464

)

$

(5,732

)

$

(4,094

)

Three Months Ended June 30, 2024

(unaudited)

BT OpCo

BT HoldCo

PubCo

Eliminations

Consolidated

Revenue

$

163,066

$

5,082

$

—

$

(5,082

)

$

163,066

Cost of revenue (excluding depreciation and amortization)

136,708

—

—

—

136,708

Operating expenses:

—

—

—

—

Selling, general, and administrative

14,864

—

898

—

15,762

Depreciation and amortization

2,992

—

—

—

2,992

Total operating expenses

17,856

—

898

—

18,754

Income from operations

8,502

5,082

(898

)

(5,082

)

7,604

Other (expense) income:

Interest expense

2,880

—

—

—

2,880

Other (expense) income

(23

)

—

(11

)

—

(34

)

(Loss) on foreign currency transactions

138

—

—

—

138

Total other (expense) income

2,995

—

(11

)

—

2,984

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

5,507

5,082

(887

)

(5,082

)

4,620

Income tax (expense) benefit

(429

)

—

159

—

(270

)

Net (loss) income

5,078

5,082

(728

)

(5,082

)

4,350

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

40

40

—

6,831

6,911

Net (loss) income attributable to Bitcoin Depot Inc.

5,037

5,041

(728

)

(11,911

)

(2,561

)

Other comprehensive income (loss), net of tax

Net (loss) income

5,078

5,082

(728

)

(5,082

)

4,350

Foreign currency translation adjustments

5

—

—

—

5

Total comprehensive (loss) income

5,083

5,082

(728

)

(5,082

)

4,355

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

40

40

—

6,831

6,911

Comprehensive (loss) income attributable to Bitcoin Depot Inc.

$

5,043

$

5,042

$

(728

)

$

(11,913

)

$

(2,556

)