September 30, 2024

(unaudited)

BT OpCo

BT HoldCo

PubCo

Eliminations

Consolidated

Assets

Current:

Cash and cash equivalents

$

31,236

$

51

$

942

$

—

$

32,229

Cryptocurrencies

1,311

—

—

—

1,311

Accounts receivable

380

—

—

—

380

Prepaid expenses and other current assets

4,990

331

2,132

—

7,453

Total current assets

37,917

382

3,074

—

41,373

Property and equipment:

Furniture and fixtures

635

—

—

—

635

Leasehold improvements

172

—

—

—

172

Kiosk machines - owned

32,086

—

—

—

32,086

Kiosk machines - leased

20,004

—

—

—

20,004

Total property and equipment

52,897

—

—

—

52,897

Less: accumulated depreciation

(25,350

)

(25,350

)

Total property and equipment, net

27,547

—

—

—

27,547

Intangible assets, net

2,698

—

—

—

2,698

Goodwill

8,717

—

—

—

8,717

Operating lease right-of-use assets, net

2,814

—

—

—

2,814

Security deposits

736

—

—

—

736

Deferred tax asset

41

—

3,521

—

3,562

Due from related parties

9,722

—

296

(10,018

)

—

Investment in Subsidiary

—

(984

)

—

984

—

Total Assets

$

90,192

$

(602

)

$

6,891

$

(9,034

)

$

87,447

September 30, 2024

(unaudited)

BT OpCo

BT HoldCo

PubCo

Eliminations

Consolidated

Liabilities and Stockholders’ (Deficit) Equity

Current:

Accounts payable

$

11,914

$

3

$

48

$

—

$

11,965

Accrued expenses

17,587

—

2,609

—

20,196

Notes payable

4,860

—

—

—

4,860

Income taxes payable

1,876

—

(521

)

—

1,355

Deferred revenue

201

—

—

—

201

Operating lease liabilities, current portion

887

—

—

—

887

Current installments of obligations under finance leases

3,931

—

—

—

3,931

Other tax payable

—

—

2,236

—

2,236

Total current liabilities

41,256

3

4,372

—

45,631

Long-term liabilities:

Note payable, non-current

41,864

—

—

—

41,864

Operating lease liabilities, non-current

1,983

—

—

—

1,983

Obligations under finance leases, non-current

2,856

—

—

—

2,856

Deferred income tax, net

852

—

—

—

852

Due to related parties

296

—

9,722

(10,018

)

—

Tax receivable agreement liability

—

—

2,126

—

2,126

Total Liabilities

89,107

3

16,220

(10,018

)

95,312

Commitments and Contingencies (Note 22)

Stockholders’ (Deficit) 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

20,550

(3,530

)

21,135

Retained earnings (accumulated deficit)

—

(15,030

)

(29,244

)

6,573

(37,701

)

Equity attributed to Bitcoin Depot Inc.

(1,372

)

(44

)

—

1,416

—

Accumulated other comprehensive loss

(191

)

—

(203

)

190

(204

)

Total Stockholders’ (Deficit) Equity and Equity Attributable to Bitcoin Depot Inc.

(1,563

)

(3,594

)

(9,329

)

(2,716

)

(17,202

)

Equity attributable to non-controlling interests

2,648

2,989

—

3,700

9,337

Total Stockholders’ (Deficit) Equity

1,085

(605

)

(9,329

)

984

(7,865

)

Total Liabilities and Stockholders’ (Deficit) Equity

$

90,192

$

(602

)

$

6,891

$

(9,034

)

$

87,447

Nine Months Ended September 30, 2024

(unaudited)

BT OpCo

BT HoldCo

PubCo

Eliminations

Consolidated

Revenue

$

436,876

$

4,432

$

—

$

(4,432

)

$

436,876

Cost of revenue (excluding depreciation and amortization)

370,848

—

—

—

370,848

Operating expenses:

—

—

—

—

Selling, general, and administrative

41,637

—

2,425

—

44,062

Depreciation and amortization

8,184

—

—

—

8,184

Total operating expenses

49,821

—

2,425

—

52,246

Income from operations

16,207

4,432

(2,425

)

(4,432

)

13,782

Other (expense) income:

Interest expense

10,724

—

7

—

10,731

Other (expense) income

(132

)

—

(11

)

—

(143

)

(Loss) on foreign currency transactions

294

—

—

—

294

Total other (expense) income

10,886

—

(4

)

—

10,882

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

5,321

4,432

(2,421

)

(4,432

)

2,900

Income tax (expense) benefit

(913

)

—

434

—

(479

)

Net (loss) income

4,408

4,432

(1,987

)

(4,432

)

2,421

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

(84

)

(84

)

—

7,627

7,459

Net (loss) income attributable to Bitcoin Depot Inc.

4,492

4,516

(1,987

)

(12,059

)

(5,038

)

Other comprehensive income (loss), net of tax

Net (loss) income

4,408

4,432

(1,987

)

(4,432

)

2,421

Foreign currency translation adjustments

(1

)

—

—

—

(1

)

Total comprehensive (loss) income

4,407

4,432

(1,987

)

(4,432

)

2,420

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

(84

)

(84

)

—

7,627

7,459

Comprehensive (loss) income attributable to Bitcoin Depot Inc.

$

4,491

$

4,516

$

(1,987

)

$

(12,059

)

$

(5,039

)

Three Months Ended September 30, 2024

(unaudited)

BT OpCo

BT HoldCo

PubCo

Eliminations

Consolidated

Revenue

$

135,271

$

2,847

$

—

$

(2,847

)

$

135,271

Cost of revenue (excluding depreciation and amortization)

112,853

—

—

—

112,853

Operating expenses:

—

—

—

—

Selling, general, and administrative

13,866

—

828

—

14,694

Depreciation and amortization

2,245

—

—

—

2,245

Total operating expenses

16,111

—

828

—

16,939

Income from operations

6,307

2,847

(828

)

(2,847

)

5,479

Other (expense) income:

Interest expense

2,900

—

7

—

2,907

Other (expense) income

(103

)

—

—

—

(103

)

(Loss) on foreign currency transactions

29

—

—

—

29

Total other (expense) income

2,826

—

7

—

2,833

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

3,481

2,847

(835

)

(2,847

)

2,646

Income tax (expense) benefit

(659

)

—

312

—

(347

)

Net (loss) income

2,822

2,847

(523

)

(2,847

)

2,299

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

(128

)

(128

)

—

3,494

3,238

Net (loss) income attributable to Bitcoin Depot Inc.

2,950

2,975

(523

)

(6,341

)

(939

)

Other comprehensive income (loss), net of tax

Net (loss) income

2,822

2,846

(523

)

(2,846

)

2,299

Foreign currency translation adjustments

(19

)

—

—

—

(19

)

Total comprehensive (loss) income

2,803

2,846

(523

)

(2,846

)

2,280

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

(128

)

(128

)

—

3,481

3,225

Comprehensive (loss) income attributable to Bitcoin Depot Inc.

$

2,931

$

2,974

$

(523

)

$

(6,327

)

$

(945

)