Bakkt, Inc. (BKKT)

Bakkt Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	-160.12	-132.23	-103.45	-225.81	-1,990	-164.83
Depreciation & Amortization	0.45	0.61	0.34	13.93	25.35	5.42
Stock-Based Compensation	71.07	71.6	15.84	16.76	32.11	45.91
Other Adjustments	30.71	-2.07	19.74	92.52	1,815	90.93
Change in Receivables	3.86	-1.24	5.41	-10.04	-7.16	-1.13
Changes in Accounts Payable	-5.45	-5.14	-15.62	-7.99	0.74	-19.73
Changes in Unearned Revenue	-0.56	-0.15	-3.25	0.4	-2.36	0.02
Changes in Other Operating Activities	3.19	-84.78	59.78	59.53	11.69	-39.99
Operating Cash Flow	-64.21	-153.4	-21.2	-60.7	-117.6	-83.39
Capital Expenditures	-1.77	-1.17	-3.09	-9.43	-30.54	-3.58
Purchases of Intangible Assets	-	-2.65	-	-	-	-
Purchases of Investments	-5.11	-66.71	-17.97	-61.83	-306.59	-
Proceeds from Sale of Investments	-	55	35.19	185.77	165.18	-
Payments for Business Acquisitions	-	-	-	-48.53	-	-
Proceeds from Business Divestments	2.26	4.52	-	-	-	-
Other Investing Activities	2.68	-27.12	-	-	-	30.84
Investing Cash Flow	-36.06	-38.12	14.13	65.97	-171.96	27.26
Short-Term Debt Issued	-	5	-	-	-	-
Short-Term Debt Repaid	-2.5	-5	-	-	-	-
Net Short-Term Debt Issued (Repaid)	-2.5	0	-	-	-	-
Long-Term Debt Issued	11.88	23.75	-	-	-	-
Long-Term Debt Repaid	-	-7.88	-	-	-	-
Net Long-Term Debt Issued (Repaid)	11.88	15.88	-	-	-	-
Issuance of Common Stock	69.6	70.81	46.51	-	0	349.12
Repurchase of Common Stock	-2.45	-3.07	-2.69	-2.63	-2.59	-84.53
Net Common Stock Issued (Repurchased)	67.16	67.74	43.82	-2.63	-2.58	264.59
Other Financing Activities	-3.68	-1.53	-	-	-	-7.66
Financing Cash Flow	144.77	82.08	43.82	-2.63	-2.58	256.93
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0.66	0.59	-1.5	0.44	-0.85	-0.31
Net Cash Flow	45.16	-108.84	35.25	3.08	-292.99	200.49
Free Cash Flow	-65.98	-154.57	-24.29	-70.13	-148.14	-86.97
FCF Margin	-4.33%	-6.62%	-0.71%	-9.65%	-263.48%	-
Free Cash Flow Per Share	-3.76	-12.78	-4.15	-19.68	-52.04	-40.03
Levered Free Cash Flow	-121.33	-181.97	-8.49	-18.42	-573.23	-101.84
Unlevered Free Cash Flow	-155.77	-238.39	-44.52	-100.17	-2,025	-126.67

Updated May 11, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q