Arizona Tribune - Athena Bitcoin Reports Third Quarter 2024 Financial Results

Third Quarter 2024 Financial Results

For the third quarter of 2024, revenue increased 5.7% to $69.4 million compared to $65.6 million in the third quarter of 2023.

Gross profit decreased 23.9% to $8.1 million compared to $10.6 million in the third quarter of 2023.

Operating expenses were $4.0 million compared to $1.5 million in the third quarter of 2023.

Net income was $2.6 million compared to net income of $5.9 million in the third quarter of 2023.

Nine Months Ended September 30, 2024 Financial Results

For the nine months ended September 30, 2024, revenue increased 84.4% to $221.7 million compared to $120.2 million in the same period in 2023.

Gross profit increased 82.0% to $31.6 million compared to $17.4 million in the in the same period in 2023.

Operating expenses were $10.5 million compared to $4.1 million in the same period in 2023.

Net income was $12.5 million compared to net income of $8.2 million in the same period in 2023.

About Athena Bitcoin Global

Athena Bitcoin Global operates an international network of Athena Bitcoin kiosks, which are free standing kiosks that permit customers to buy or sell Bitcoin in exchange for fiat currencies. The Company places its machines in convenience stores, shopping centers and other easily accessible locations in thirty-three US states and territories, and in four countries in Central and South America. Athena Bitcoin Global's comprehensive fintech platform enables POS merchant payments powered by Athena Pay and the Company provides safe, reliable and personalized trading services through its Athena Plus services. To learn more visitwww.athenabitcoin.comor follow Athena Bitcoin Global on Twitter and LinkedIn.

Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the preliminary prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and Athena Bitcoin Global specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

Contact:
Rachele Andrejczak
Director of Marketing, Athena Bitcoin, Inc.
[email protected]

SOURCE: Athena Bitcoin Global

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