Bitcoin Well Reports 2025 Q4 And Year End Financial Results, Including Record Yearly Revenue

Executive Summary

• Bitcoin Well reported record fiscal‑year revenue of $133.0 M (+47% YoY) and Q4 revenue of $35.0 M (+17% YoY).
• Net income turned positive in Q4 2025 at $4.2 M (vs a $9.8 M loss the prior year); full‑year net loss narrowed to $0.8 M from $17.8 M last year.
• The company will settle a $61,389 sponsorship‑agreement debt by issuing 682,100 shares at a deemed price of $0.09 per share, subject to TSXV approval and a statutory hold period.

Key Details

• Revenue Highlights
• Q4 2025: $35.0 M (Q4 2024: $30.1 M) – 17% increase.
• FY 2025: $133.0 M (FY 2024: $90.5 M) – 47% increase, company record.
• Online Bitcoin Portal revenue FY 2025: $64.3 M (+64%).
• Bitcoin Well Infinite revenue FY 2025: $44.4 M (+64%).

• ATM sales FY 2025: $24.2 M (flat YoY).

• User Growth

• Unique users on the Online Bitcoin Portal reached 64,000 as of Dec‑31‑2025 – a 100% increase year‑over‑year.

• Profitability Metrics

• Gross profit Q4 2025: $1.2 M (same as Q4 2024). FY 2025 gross profit: $5.0 M (+25%).
• Gross margin declined to 3.7% from 4.4% YoY due to sales‑mix shift toward lower‑margin Online Portal and Infinite segments.
• Adjusted EBITDA Q4 2025: –$0.7 M (vs break‑even in Q4 2024). FY 2025 adjusted EBITDA: –$1.4 M, an improvement of $0.3 M over FY 2024 (–$1.7 M).

• Net income Q4 2025: $4.2 M (vs a loss of $9.8 M in Q4 2024). FY 2025 net loss: $0.8 M, narrowed from $17.8 M loss in FY 2024.

• Bitcoin Treasury

• As of Dec‑31‑2025, the company held 69 BTC (fair value ≈ $8.3 M), purchased at an average price of $112,477 USD / $157,897 CAD per BTC.

• Debt Settlement – Share Issuance

• Outstanding Sponsorship Agreement Debt: $61,389 ($45,000 USD) as of Feb‑28‑2026.
• Settlement via issuance of 682,100 common shares at a deemed price of $0.09 per share (TSXV policy).

• Shares subject to a statutory hold period of four months and one day from issuance; transaction pending TSXV approval.

• Management Commentary

• CEO Adam O’Brien highlighted growth despite a “not‑friendly” bitcoin market in Q4 2025, emphasizing effective marketing spend and scalable platform design.

• Emphasis placed on Adjusted EBITDA as the preferred performance metric over GAAP net income due to non‑cash fair‑value adjustments of cryptocurrency loans.

• Forward‑Looking Statements

• The release contains forward‑looking information regarding expected revenue growth, the share‑based debt settlement, and broader business strategy; actual results may differ materially because of market volatility, regulatory changes, financing availability, and other risk factors disclosed in the MD&A.

Notable Quotes

• “The 2025 financial results showcase the strong customer base that we have spent the last few years building… we were still able to showcase growth in total revenue, the bitcoin portal and even Bitcoin Well Infinite; our high‑net‑worth division.” – Adam O’Brien, Founder & CEO
• “Our yearly growth for Bitcoin Well Infinite, despite the bitcoin market slouching in Q4, is tremendous… we were able to achieve that.” – Adam O’Brien