Athena Bitcoin Global Releases Third Quarter 2024 Financial Results

Athena Bitcoin Global, a major player in the bitcoin kiosk and digital asset fintech sector, has announced its unaudited financial results for the third quarter of 2024. The company reported a 5.7% increase in revenue, reaching $69.4 million, compared to $65.6 million for the same period in 2023. However, gross profit decreased by 23.9%, settling at $8.1 million from $10.6 million in the previous year.

Operating expenses rose significantly to $4.0 million, compared to $1.5 million in the third quarter of 2023. Consequently, net income dropped to $2.6 million from $5.9 million last year.

For the nine months ending September 30, 2024, Athena reported an 84.4% jump in revenue to $221.7 million. Gross profit increased by 82.0% to $31.6 million, while net income reached $12.5 million, up from $8.2 million in 2023. Operating expenses for this period were $10.5 million, compared to $4.1 million the previous year.