Athena Bitcoin Global (ABIT)

Price$0.0050Cached quoteAs of 2026-09-05 17:30 UTC

AI: Undervalued

Apparent asset discount, but quote quality is poorAt the last nonzero-volume close located, $0.002 on September 14, 2026, ABIT implies an equity value of about $8.19 million using the last SEC-reported 4,095,009,545 shares outstanding.

March 31, 2026 stockholders' equity was $14.83 million and cash was $14.781 million, implying roughly 0.55x reported book value. That supports an Undervalued classification on stale balance-sheet metrics, but the discount cannot be treated as a normal liquid-market valuation: the September 14 session traded only 93,000 shares after extreme price dislocations, and subsequent displayed closes found had no volume.

Profitability deteriorated sharplyLatest reported quarterly revenue fell 49% year over year and Athena moved from profit to loss.

For Q1 2026, revenue was $37.183 million versus $72.629 million, gross profit was $2.177 million versus $8.131 million, operating loss was $280,000, and net loss was $467,000 versus net income of $2.624 million. Bitcoin-ATM transactions fell to 35,351 from 62,326. These figures materially weaken the significance of the low price-to-book valuation.

Liquidity and legal obligations constrain balance-sheet valueCash was substantial, but Athena reported a $6.513 million working-capital deficit and significant current and lease obligations.

At March 31, current assets were $19.139 million versus current liabilities of $25.652 million; total liabilities were $43.282 million, including $2.701 million of short-term debt and $25.213 million of current and long-term operating-lease liabilities. Operating cash flow was positive $1.360 million. The filing also described a $4.5 million structured legal settlement: $1 million had been paid in March, with $1 million and $2.5 million installments scheduled later in 2026; post-Form-15 payment status is not publicly confirmed.

Operating business, but the security is now dark/non-reportingAthena appears operational, but ABIT is no longer providing normal SEC periodic disclosure and OTC Markets flags the security as Expert Market and Dark or Defunct.

Athena filed Form 15 on May 22, 2026, suspending its periodic reporting duty; this is an intentional reporting suspension rather than an overdue 10-Q/10-K delinquency. OTC Markets says it cannot confirm current public disclosure and restricts Expert Market quotations from public viewing. Operationally, the March filing reported 2,753 ATMs, down 12% from year-end, with further regulatory removals expected; an August 27 company page still described active service at thousands of ATMs across 28 states. The disclosure gap and trading restrictions are major liquidity and valuation risks.

AI: News

New Texas scam-loss lawsuits add consumer-protection riskA September 10 report detailed two recent lawsuits against Athena Bitcoin involving alleged losses through its kiosks.

Meagan Venable filed suit September 4 after allegedly losing $23,700 to an impersonation scam, while Douglas Schuler filed an August action involving more than $20,000. The allegations have not been adjudicated. The cases add to broader scrutiny of crypto-kiosk fraud controls and could increase litigation, compliance and regulatory costs.

Key software and trade-secret claims remain aliveOn August 25, a federal court only partly granted defendants' motion to dismiss AML Software's litigation involving Bitcoin-ATM source code.

The court dismissed Counts VII and VIII with prejudice but required answers to Counts I through VI, leaving claims including declaratory, copyright and trade-secret issues in the case. The court stressed that allowing claims to proceed was not a determination that AML would prevail. The unresolved dispute remains a specific intellectual-property and operating risk.

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Total cash / debt

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Financial statements

	2025	2024	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992
Revenue	$234.6M	$285.4M	$0	$0	$0	$0	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	$24.8M	$38.0M	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	10.59%	13.32%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	$1.6M	$1.4M	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Operating expenses	$23.8M	$18.7M	$96,784	$109,928	$118,549	$119,725	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Operating income	$1.0M	$19.3M	−$96,784	−$109,928	−$118,549	−$119,725	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Operating margin	0.43%	6.76%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA	$10.5M	$24.5M	−$96,784	−$109,928	−$118,549	−$119,725	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA margin	4.49%	8.57%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net income	−$6.0M	$10.3M	−$202,508	−$206,587	−$216,796	−$205,030	−$112,522	−$222,875	−$82,640	−$57,509	−$62,124	−$45,213	−$36,325	−$35,273	−$49,232	−$77,320	−$46,310	−$47,807	−$46,264	$277,209	−$215,677	−$306,974	−$305,062	−$326,738
Net profit margin	−2.57%	3.60%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Basic EPSper basic share	-$0.00	$0.00	-$0.01	-$0.01	-$0.01	-$0.01	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Diluted EPSper diluted share	-$0.00	$0.00	-$0.01	-$0.01	-$0.01	-$0.01	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—