Bakkt financials
$8.10+1.25%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 |
|---|---|---|---|---|---|
| Revenue | $2.34B | $3.44B | $727.0M | $56.2M | $39.4M |
| Gross profit | $26.9M | $37.8M | $8.5M | $56.2M | $39.4M |
| Gross margin | 1.1% | 1.1% | 1.2% | 100.0% | 100.0% |
| Operating income | -$147.8M | -$82.6M | -$156.2M | -$2.02B | -$214.6M |
| Net income | -$107.2M | -$46.7M | -$74.9M | -$578.1M | -$183.2M |
| Net margin | −4.6% | −1.4% | −10.3% | −1028.2% | −464.6% |
| Diluted EPS | $-8.87 | $-7.97 | $-21.01 | $-203.08 | $-84.75 |
| EBITDA | -$141.1M | -$73.2M | -$97.0M | -$150.3M | -$166.7M |
| Operating cash flow | -$153.4M | -$21.2M | -$60.7M | -$117.6M | -$134.3M |
| Free cash flow | -$154.6M | -$24.3M | -$70.1M | -$148.1M | -$150.0M |
| Diluted shares | 12.1M | 5.9M | 3.6M | 2.8M | 2.2M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|
| Cash & equivalents | $27.0M | $39.0M | $52.9M | $98.3M | $391.4M |
| Short-term investments | $235.0K | $0.00 | $17.4M | $0.00 | $0.00 |
| Total debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Total assets | $162.8M | $269.4M | $265.3M | $455.5M | $2.41B |
| Total liabilities | $50.0M | $206.5M | $129.6M | $119.4M | $120.1M |
| Shareholders' equity | $112.8M | $62.9M | $135.7M | $336.1M | $2.29B |
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