Bakkt financials
$8.10+1.25%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q2 '26 Jun 30 | Q1 '26 Mar 31 | Q4 '25 Dec 31 | Q3 '25 Sep 30 | Q2 '25 Jun 30 | Q1 '25 Mar 31 | Q4 '24 Dec 31 | Q3 '24 Sep 30 | Q2 '24 Jun 30 | Q1 '24 Mar 31 | Q4 '23 Dec 31 | Q3 '23 Sep 30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $170.1M | $243.6M | $299.2M | $402.2M | $568.1M | $1.07B | $1.79B | $316.3M | $509.9M | $854.6M | $214.5M | $204.8M |
| Gross profit | $2.2M | $3.6M | $3.3M | $5.4M | $7.0M | $11.1M | $19.5M | $3.5M | $18.2M | $854.6M | $736.1M | $15.3M |
| Gross margin | 1.3% | 1.5% | 1.1% | 1.3% | 1.2% | 1.0% | 1.1% | 1.1% | 3.6% | 100.0% | 343.2% | 7.5% |
| Operating income | -$19.6M | -$16.9M | -$91.0M | -$25.3M | -$16.1M | -$15.4M | -$10.0M | -$25.1M | -$22.0M | -$31.8M | $640.0M | -$52.9M |
| Net income | $80.8M | -$11.7M | -$85.3M | -$14.9M | -$14.7M | $7.7M | -$19.2M | -$2.9M | -$16.4M | -$8.2M | -$26.7M | -$17.3M |
| Net margin | 47.5% | −4.8% | −28.5% | −3.7% | −2.6% | 0.7% | −1.1% | −0.9% | −3.2% | −1.0% | −12.4% | −8.5% |
| Diluted EPS | $1.94 | $-0.41 | $-3.99 | $-1.15 | $-2.16 | $1.13 | $-2.95 | $-0.45 | $-2.67 | $-1.86 | $-7.16 | $-4.74 |
| EBITDA | -$17.3M | -$16.9M | -$90.6M | -$19.5M | -$16.0M | -$15.0M | -$9.1M | -$24.0M | -$21.0M | -$25.4M | $694.8M | -$26.3M |
| Operating cash flow | -$14.8M | -$12.1M | -$10.8M | -$46.7M | $5.4M | -$101.3M | $31.4M | -$25.1M | -$65.9M | $38.4M | -$3.9M | $24.6M |
| Free cash flow | -$14.8M | -$12.1M | -$12.0M | -$46.8M | $5.4M | -$101.3M | $28.3M | -$27.3M | -$66.4M | $36.6M | -$5.4M | $22.7M |
| Diluted shares | 41.7M | 28.4M | 21.3M | 13.0M | 6.8M | 7.2M | 6.5M | 6.4M | 6.2M | 4.4M | 3.7M | 3.7M |
Balance sheet
| Period end | Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | Mar 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $50.0M | $80.0M | $27.0M | $58.3M | $43.5M | $23.0M |
| Short-term investments | $311.0K | $249.0K | $235.0K | $5.1M | $0.00 | $0.00 |
| Total debt | $0.00 | $0.00 | $0.00 | $0.00 | $22.3M | $0.00 |
| Total assets | $403.6M | $213.4M | $162.8M | $258.3M | $190.1M | $176.3M |
| Total liabilities | $49.2M | $42.5M | $50.0M | $129.7M | $132.3M | $94.8M |
| Shareholders' equity | $354.4M | $170.9M | $112.8M | $128.6M | $57.8M | $81.6M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology