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$ABIT solid News/Filing
11/19/2024 - 07:20 PMMIAMI, FL / ACCESSWIRE / November 19, 2024 / Athena Bitcoin Global (OTC PINK:ABIT) ("Athena") a leading international operator of bitcoin kiosks and digital asset fintech solutions filed today its unaudited consolidated financial statements for the fiscal third quarter ended September 30, 2024 with OTC Markets.
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 AndrejczakDirector of Marketing, Athena Bitcoin, Inc.rachele@athenabitcoin.com
SOURCE: Athena Bitcoin Global
View the original press release on accesswire.com
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Athena Bitcoin Global (ABIT) reported its Q3 2024 financial results. Revenue grew 5.7% to $69.4 million compared to Q3 2023. However, gross profit declined 23.9% to $8.1 million, and operating expenses increased to $4.0 million from $1.5 million. Net income decreased to $2.6 million from $5.9 million year-over-year.
For the nine months ended September 30, 2024, the company showed stronger performance with revenue up 84.4% to $221.7 million, gross profit increased 82.0% to $31.6 million, and net income rose to $12.5 million from $8.2 million compared to the same period in 2023.Revenue increased 5.7% YoY to $69.4M in Q3 2024
Nine-month revenue grew 84.4% to $221.7M
Nine-month gross profit up 82.0% to $31.6M
Nine-month net income increased to $12.5M from $8.2MQ3 gross profit declined 23.9% to $8.1M
Q3 operating expenses increased significantly to $4.0M from $1.5M
Q3 net income decreased to $2.6M from $5.9M YoY
Penny Stocks 2.0
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Huge Article -- Future Developments and Innovations for Athena Bitcoin ATMs
$ABIT
By Terry Ashton, updated August 28, 2024
Table of Contents
The Rise of Athena Bitcoin ATMs
Upcoming Features and Enhancements
1. Enhanced User Interface and Experience
2. Multi-Cryptocurrency Support
3. Integration with Digital Wallets
4. Biometric Authentication
5. Real-Time Exchange Rate Display
Technological Innovations Shaping the Future
1. Blockchain Technology Integration
2. Artificial Intelligence and Machine Learning
3. Contactless and Mobile Transactions
4. Expansion into Emerging Markets
Challenges and Considerations
1. Regulatory Compliance
2. Competition and Market Saturation
3. Cybersecurity Threats
Conclusion
As cryptocurrency goes mainstream, the ecosystem will continue to evolve and innovations around crypto such as Bitcoin ATMs have been improving by leaps and bounds. One such major player in this space is the Athena Bitcoin ATMs. In this article, we will explore some of the future developments and technological upgrades that are expected to change or enhance Athena Bitcoin ATM usage.
For more detailed information about Athena Bitcoin ATMs, you can check out this Athena Bitcoin ATMs Comprehensive Overview.
The Rise of Athena Bitcoin ATMs
Athena Bitcoin ATMs have seen a rapid growth over the years and they integrated itself as one of many parts in cryptocurrency ecosystem. These ATMs offer easy access to Bitcoin for the user, and they can quickly buy and withdraw. With the ever growing demand for cryptocurrencies, the Athena Bitcoin ATMs have seen a significant boost in numbers which can be spotted all over different cities across both the US and internationally.
Upcoming Features and Enhancements
1. Enhanced User Interface and Experience
The user interface (UI) and UX overhaul has been one of the most anticipated changes for Athena Bitcoin ATMs. The updated UI is designed for ease of use and will also offer streamlined processes to buy some Bitcoin, as well sell your precious coins. The improvement is designed to simplify this process, as it can be overwhelming if you are a newcomer in the world of cryptocurrency.
2. Multi-Cryptocurrency Support
Currently, Athena Bitcoin ATMs present themselves as centers for various bitcoin investment options. However, the following versions will add support for a broader variety of cryptocurrencies such as Ethereum, Litecoin and Bitcoin Cash. With users looking for greater flexibility and more digital assets available than ever, this expansion is only fitting.
3. Integration with Digital Wallets
As digital wallets become common, Athena Bitcoin ATMs can be seamlessly integrated with most popular wallet services. With this service, purchased Bitcoin can be transferred directly into digital wallets without requiring manual transfers.
4. Biometric Authentication
When we talk about cryptocurrencies, security is the most important concern. The Athena Bitcoin ATMs would be adding biometric authentication, of either fingerprint or face recognition. This would provide an extra security layer which in turn will secure the transaction more and reduce fraud.
5. Real-Time Exchange Rate Display
All future Athena Bitcoin ATMs will include live exchange rate displays in order to ensure users have the ability to see first-hand how much value they are getting out of their transactions. This feature provides users the ability to view real time market rates, enabling them with an on/off ramp trading experience for those who want it.
Technological Innovations Shaping the Future
1. Blockchain Technology Integration
The future of Athena Bitcoin ATM is definitely going to be influenced by blockchain technology. Using blockchain, these ATMs can provide additional transaction transparency and traceability while improving security. By integrating blockchain, we can reduce the processing time and transaction fees so that will increase user probability to use our service.
2. Artificial Intelligence and Machine Learning
Athena Bitcoin ATMs will also soon integrate artificial intelligence (AI) and machine learning with the goal of optimizing always better their network. That includes being able to analyze patterns of transactions, detecting dubious behaviour and providing individual recommendations the system would then shift. By using machine learning algorithms, transaction speeds would also be optimized and operational costs will decrease.
3. Contactless and Mobile Transactions
As a part of the movement to go contactless worldwide, it is anticipated for Athena Bitcoin ATMs to accept tap-to-pay and mobile pay. This means users will be able to pay with their smartphones or contactless cards rather than having slow-form factor-dependent ones, thereby expediting the process.
4. Expansion into Emerging Markets
Athena Bitcoin ATMs are heading to new markets, especially where banking services are in short supply. Not only will this expansion dramatically increase the worldscape of Athena Bitcoin ATMs but also bring financial inclusion to millions who are underbanked.
Challenges and Considerations
1. Regulatory Compliance
With the rapidly changing nature of cryptocurrency regulations, there are developing rules for operators such as Athena Bitcoin ATMs to comply with in your jurisdiction and those jurisdictions enabling worldwide access now. This can be complied with the help of Knowing Your Customer (KYC) & Anti Money Laundering (AML). It is essential for these ATMs to comply in order for them to continue operating and expanding.
2. Competition and Market Saturation
The increasing number of land and online Bitcoin ATMs are beginning to set the stage for strong competition in the market. This is in order for Athena Bitcoin ATMs to carry on being competitive so they will have to keep working at reinventing themselves above and other more adversaries. This includes providing consumers with special features, and excellent customer care while costing the services competitively.
3. Cybersecurity Threats
The advancement of cryptocurrencies also result in more cyber-attacks. The Athena Bitcoin ATMs will incorporate near the cutting-edge in security to prevent hacking, phishing and other types of cyber threats. To do this, it will need to continue investment in security technologies and keep the system updated.
Conclusion
Athena Bitcoin ATMs have numerous developments and innovations to look forward to in the near future. These ATMs promise next-gen user interfaces as well incorporate tech such as AI and blockchain to redefine the way users will use cryptocurrencies. The future for Athena Bitcoin ATMs is to be more user-friendly, while also providing an easy means of entry into the world of digital currency.
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