Athena Bitcoin Global Reports Financial Results in Form 10-K Filing

Athena Bitcoin Global (ABIT) has released its financial results in its latest Form 10-K filing, providing a detailed overview of the company's performance, strategic developments, and future outlook. The filing contains forward-looking statements, which are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially. The company operates a network of Bitcoin ATMs across 33 U.S. states, Puerto Rico, and four countries in Central and South America, facilitating the buying and selling of Bitcoin for local fiat currencies.

The company reported revenues of $234.6 million for the year ended December 31, 2025, a decrease of 18% compared to $285.4 million in 2024. This decline was primarily attributed to a decrease in the size of individual transactions, despite an increase in overall transaction volume. The median ATM transaction size decreased by 30%, from $150 to $105, while the number of transactions increased by 15%. The average markup on Bitcoin sold increased from 22% to 24% over the same period. The company experienced a net loss of $6.0 million in 2025, compared to a net income of $10.3 million in 2024. This shift was influenced by the revenue decline and a $5.3 million loss on the extinguishment of debt. Adjusted EBITDA decreased from $24.9 million in 2024 to $10.4 million in 2025.

Operationally, Athena Bitcoin Global saw a decrease in the number of active Bitcoin ATMs, from 3,111 at the end of 2024 to 2,953 at the end of 2025. The company attributed this to strategic adjustments in its ATM network. The company also highlighted its white-label service, operating ATMs on behalf of the Government of El Salvador, which contributed 1% to total revenue in 2025, compared to 2% in 2024. The company voluntarily repaid in full the outstanding balance of approximately $3 million plus accrued interest of $36 thousand owed to KGPLA for a total payment of $3.036 million, under that certain Amended and Restated Secured Convertible Debenture entered into with KGPLA on May 15, 2023, as amended from time to time.

Looking ahead, Athena Bitcoin Global aims to expand its geographic presence, particularly in Latin America, and to grow its Athena Bitcoin Affiliates Program, which provides a turnkey solution for independent Bitcoin ATM operators. The company acknowledges the competitive landscape, which includes other Bitcoin ATM companies, online sellers, and technology providers. The company believes its competitive advantages lie in its site selection methodology, operational efficiency, and brand authenticity. However, the company also recognizes its disadvantages, including competitors with greater resources. The company is subject to various anti-money laundering and counter-terrorist financing laws, as well as regulations related to money transmission, privacy, and consumer protection. The company is registered with FinCEN and has appointed a Chief Compliance Officer.

About Athena Bitcoin Global

GamePlan, Inc. is a development-stage public shell company with no current operations or products. Historically involved in gaming consulting, it now seeks to acquire or merge with businesses across various industries to establish substantive operations. The company provides a publicly traded vehicle for private entities to access capital markets via reverse mergers, targeting a broad range of potential business opportunities without industry restrictions.

This description was generated via AI from an annual report. Updated 8 months ago.

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