Athena Bitcoin Reports Full Year 2023 Financial Results

Athena Bitcoin Global, a major player in the bitcoin ATM market and digital asset fintech solutions, has disclosed its audited financial outcomes for the year ending December 31, 2023. The report shows a significant increase in the company’s financial performance, with a notable 160% rise in revenue, reaching $191.8 million compared to $73.7 million in the previous year. This growth reflects Athena Bitcoin Global's expanding footprint in the digital currency space.

Gross profit also saw a considerable increase, up 93% to $27.1 million from $14.0 million in the prior year, indicating an effective management of cost of goods sold and an enhancement in profitability. Operating expenses remained stable, with a marginal increase from $7.2 million to $7.3 million, showcasing the company's ability to manage its expenses efficiently even in a period of substantial revenue growth. This effective cost management contributed to a net income of $11.2 million for 2023, a significant improvement from the $4.1 million recorded in the previous year.