Bakkt Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2024	FY 2023	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Mar '24 Mar 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Revenue	2,335	3,490	3,490	780.14	56.22
Revenue Growth (YoY)	-33.09%	-	347.39%	1287.55%	-
Cost of Revenue	2,327	3,427	3,427	722.28	1.66
Gross Profit	8.42	62.99	62.99	57.85	54.57
Selling, General & Admin	115.26	126.52	87.7	145.81	185.95
Depreciation & Amortization Expenses	0.61	0.34	0.34	13.93	25.35
Other Operating Expenses	40.39	29.04	21.54	126	1,862
Total Operating Expenses	156.25	155.91	109.58	285.74	2,073
Operating Income	-147.84	-92.92	-46.59	-227.89	-2,019
Interest Income	0.79	4.32	4.32	4.34	1.88
Other Non-Operating Income (Expense)	49.34	-14.68	-14.91	-1.82	15.78
Total Non-Operating Income (Expense)	50.13	-10.36	-10.6	2.52	17.66
Pretax Income	-97.38	-103.28	-94.87	-225.37	-2,001
Provision for Income Taxes	0.05	-0.17	-0.17	-0.44	11.32
Net Income	-239.44	-46.66	-46.66	-74.85	-578.11
Minority Interest in Earnings	-25.02	-56.79	-56.79	-150.96	-1,412
Earnings From Discontinued Operations	-34.57	-	-	-	-
Net Income to Common	-239.44	-46.66	-46.66	-74.85	-578.11
Shares Outstanding (Basic)	27	6	6	4	3
Shares Outstanding (Diluted)	27	6	6	4	3
Shares Change (YoY)	361.05%	-1.87%	67.44%	25.17%	31.03%
EPS (Basic)	-8.87	-7.97	-7.82	-21.01	-203.08
EPS (Diluted)	-8.87	-7.97	-7.82	-21.01	-203.08
Free Cash Flow	-154.57	-24.29	-24.29	-70.13	-148.14
Free Cash Flow Per Share	-	-4.15	-	-19.68	-52.04
Gross Margin	0.36%	1.80%	1.80%	7.42%	97.05%
Operating Margin	-6.33%	-2.66%	-1.33%	-29.21%	-3590.84%
Profit Margin	-9.84%	-2.96%	-2.96%	-28.95%	-3539.30%
FCF Margin	-6.62%	-0.70%	-0.70%	-8.99%	-263.48%
EBITDA	-147.23	-92.57	-46.25	-213.96	-1,994
EBITDA Margin	-6.30%	-2.65%	-1.33%	-27.43%	-3545.75%
EBIT	-147.84	-92.92	-46.59	-227.89	-2,019
EBIT Margin	-6.33%	-2.66%	-1.33%	-29.21%	-3590.84%
Effective Tax Rate	-0.05%	0.16%	0.18%	0.20%	-0.57%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q