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Segment Reporting | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Segment Reporting | (4) Segment Reporting The Company operates as a single operating segment, with the Chief Executive Officer serving as the CODM. The CODM evaluates performance and allocates resources on a consolidated basis, reviewing financial and operational information for the entire organization rather than assessing discrete product or service lines or geographic locations. The Company concluded that it has a single reportable segment based on the similarity of the Company's products and services, its common customer base and the comparable regulatory environment in which it operates. Revenue is primarily generated through cash paid by customers to purchase Bitcoin from the Company's BTMs with a minimal amount of revenue generated from other products and services. See Note 6 - Revenue for more information on the Company's revenue generating products and services. As of and for the nine months ended September 30, 2025 and 2024, substantially all of the Company's revenue was generated in the U.S., and substantially all of its long-lived assets were located in the US. As the CODM focuses on overall Company performance, any asset information used for decision-making purposes aligns with the consolidated totals presented in the Consolidated Balance Sheets. See the Consolidated Balance Sheets for additional information on the Company's asset composition. The CODM considers multiple measures of profit or loss such as, EBITDA, Adjusted EBITDA, and Net Income and uses these measures to assess the Company's overall performance, compare actual results to budgets, and guide decisions on capital investments and other resource allocations. The table below summarizes net income related segment information used by the CODM to evaluate the Company's performance (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Revenue |  | $ | 162,482 |  |  | $ | 135,271 |  |  | $ | 498,816 |  |  | $ | 436,876 |
Cost of cryptocurrency sold (1) |  |  | 116,318 |  |  |  | 97,555 |  |  |  | 356,826 |  |  |  | 327,778 |
Armored cash collection |  |  | 1,694 |  |  |  | 2,312 |  |  |  | 5,192 |  |  |  | 6,215 |
Wireless connectivity costs |  |  | 1,056 |  |  |  | 660 |  |  |  | 2,695 |  |  |  | 1,905 |
(Gain) loss on foreign currency transactions |  |  | (215 | ) |  |  | 29 |  |  |  | (95 | ) |  |  | 294 |
Share-based compensation |  |  | 2,185 |  |  |  | 412 |  |  |  | 3,257 |  |  |  | 3,037 |
Kiosk shipping and services |  |  | 646 |  |  |  | 1,208 |  |  |  | 2,218 |  |  |  | 4,317 |
Floorspace leases |  |  | 9,804 |  |  |  | 10,007 |  |  |  | 28,934 |  |  |  | 27,663 |
Bank fees |  |  | 757 |  |  |  | 793 |  |  |  | 2,446 |  |  |  | 2,270 |
Unrealized (gain) on cryptocurrency held for investment |  |  | (690 | ) |  |  | — |  |  |  | (1,911 | ) |  |  | — |
Payroll costs |  |  | 6,293 |  |  |  | 6,809 |  |  |  | 17,788 |  |  |  | 18,507 |
Advertising and marketing costs |  |  | 1,679 |  |  |  | 1,458 |  |  |  | 4,893 |  |  |  | 4,761 |
Professional fees |  |  | 2,998 |  |  |  | 2,716 |  |  |  | 9,032 |  |  |  | 7,177 |
Operating software costs |  |  | 1,055 |  |  |  | 974 |  |  |  | 3,229 |  |  |  | 2,715 |
Interest expense, net |  |  | 4,133 |  |  |  | 2,907 |  |  |  | 11,927 |  |  |  | 10,731 |
Income tax expense (benefit) |  |  | 3,042 |  |  |  | 347 |  |  |  | 5,656 |  |  |  | 479 |
Amortization |  |  | 382 |  |  |  | 383 |  |  |  | 1,133 |  |  |  | 1,116 |
Depreciation |  |  | 1,518 |  |  |  | 1,862 |  |  |  | 4,533 |  |  |  | 7,068 |
Other segment items (2) |  |  | 4,340 |  |  |  | 2,540 |  |  |  | 11,078 |  |  |  | 8,422 |
Net income |  | $ | 5,487 |  |  | $ | 2,299 |  |  | $ | 29,985 |  |  | $ | 2,421 |
(1) Includes cryptocurrency impairments for the three and nine months ended September 30, 202 4 of $2.5 million and $6.6 million, respectively. (2) Includes insurance and other expenses.

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- Definition The entire disclosure for reporting segments including data and tables. 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