← Bakkt, Inc.
| Annual Trend | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and Cash Equivalents, at Carrying Value | $75.4m | $391.4m | $98.3m | $52.9m | $39.0m | $27.0m | |
| Short-term Investments | — | — | — | — | $0 | $235k | |
| Accounts Receivable | — | — | $25.3m | $29.7m | $6.0m | $4.3m | |
| Cash Cash Equivalents And Short Term Investments | — | — | $239.4m | $70.3m | $39.0m | $27.2m | |
| Non Current Prepaid Assets | — | $15.2m | $15.2m | $159k | — | — | |
| Notes Receivable | — | — | — | — | $0 | $5.0m | |
| Other Current Assets | — | — | $15.8m | $25k | $152k | $197k | |
| Other Receivables | — | $6.9m | $9.2m | — | $1.3m | $5.3m | |
| Other Short Term Investments | — | — | $141.1m | $17.4m | $0 | $235k | |
| Prepaid Assets | — | — | $28.9m | $16.4m | $7.2m | $15.2m | |
| Receivables Adjustments Allowances | — | ($210k) | ($210k) | — | ($808k) | ($236k) | |
| Accounts receivable, net | $10.4m | $18.1m | $25.3m | $29.7m | $24.6m | $12.1m | |
| Prepaid insurance | $734k | $32.2m | $22.8m | $13.0m | $4.0m | $2.7m | |
| Other current assets | $7.0m | $4.8m | $6.1m | $3.3m | $2.7m | $14.9m | |
| Assets, Current | $1.4m | $463.5m | $326.5m | $882.6m | $183.8m | $72.2m | |
| Total current assets | $1.4m | $463.5m | $326.5m | $882.6m | $183.8m | $72.2m | |
| Property, Plant and Equipment, Net | $20.0m | $6.1m | $19.7m | $60k | $2.1m | $1.7m | |
| Goodwill | $233.4m | $1.5b | $15.9m | $68.0m | $68.0m | $64.7m | |
| Intangible Assets, Net (Excluding Goodwill) | $62.2m | $388.5m | $55.8m | $2.9m | $2.9m | $5.5m | |
| Goodwill And Other Intangible Assets | — | — | $71.7m | $70.9m | $70.9m | $70.2m | |
| Other Intangible Assets | — | — | $55.8m | $2.9m | $2.9m | $5.5m | |
| Operating Lease, Right-of-Use Asset | — | $11.2m | $19.6m | $11.5m | $9.7m | $0 | |
| Other Assets, Noncurrent | $5.6m | $13.9m | $22.5m | $13.1m | $12.6m | $4.2m | |
| Additional Financial Items | |||||||
| Accounts Receivable, after Allowance for Credit Loss, Current | — | $18.1m | $25.3m | $29.7m | $24.6m | $12.1m | |
| Accrued Liabilities, Current | $893k | $20.1m | $15.5m | $16.0m | $14.6m | $6.0m | |
| Accumulated Depreciation | — | — | ($1.9m) | ($740k) | ($996k) | ($354k) | |
| Assets Held For Sale Current | — | — | — | — | $17.5m | $0 | |
| Capital Lease Obligations | — | — | $26.4m | $27.2m | $19.9m | $549k | |
| Current Accrued Expenses | — | — | $16.2m | $16.6m | $3.3m | $6.0m | |
| Current Capital Lease Obligation | — | — | $3.0m | $3.6m | $3.8m | $549k | |
| Current Debt And Capital Lease Obligation | — | — | $3.0m | $3.6m | $3.8m | $549k | |
| Current Deferred Liabilities | — | — | $4.0m | $4.3m | $0 | $789k | |
| Derivative Product Liabilities | — | — | $785k | $2.4m | $46.9m | $16.7m | |
| Dueto Related Parties Current | — | — | $1.2m | $3.2m | $2.4m | $0 | |
| Employee Benefits | — | $2.0m | $0 | — | — | — | |
| Financial Assets | — | — | — | — | $0 | $3.4m | |
| Gross PPE | — | — | $41.3m | $12.3m | $11.0m | $2.0m | |
| Invested Capital | — | — | $96.3m | $48.3m | $33.9m | $112.8m | |
| Investments And Advances | — | — | — | — | $0 | $11.1m | |
| Investmentsin Associatesat Cost | — | — | — | — | $0 | $11.1m | |
| Leases | — | — | $10.1m | $0 | $276k | $0 | |
| Liabilities Heldfor Sale Non Current | — | — | — | — | $5.8m | $0 | |
| Long Term Capital Lease Obligation | — | — | $23.4m | $23.5m | $16.1m | $0 | |
| Long Term Equity Investment | — | — | — | — | $0 | $11.1m | |
| Machinery Furniture Equipment | — | — | $11.5m | $800k | $2.8m | $2.0m | |
| Net PPE | — | — | $39.4m | $11.5m | $10.0m | $1.7m | |
| Net Tangible Assets | — | — | $24.6m | ($22.6m) | ($37.0m) | $42.6m | |
| Non Current Deferred Liabilities | — | $16.4m | $3.1m | $3.2m | $2.6m | — | |
| Ordinary Shares Number | — | — | $3.2m | $3.8m | $6.5m | $25.5m | |
| Other Current Liabilities | — | — | $16.3m | $1.1m | $28.7m | $2.2m | |
| Other Equity Adjustments | — | — | ($290k) | ($101k) | ($841k) | $947k | |
| Other Non Current Assets | — | — | $2.8m | $1.8m | $4.6m | $4.2m | |
| Other Non Current Liabilities | — | $2.0m | — | — | — | $244k | |
| Other Payable | — | — | $25.2m | $51.9m | $90.3m | $17.4m | |
| Other Properties | — | $11.2m | $19.6m | $11.5m | $7.9m | — | |
| Properties | — | — | $0 | $0 | $0 | $0 | |
| Restricted Cash | — | — | $17.1m | $64.8m | $113.5m | $15.2m | |
| Share Issued | — | — | $3.2m | $3.8m | $6.5m | $25.5m | |
| Tangible Book Value | — | — | $24.6m | ($22.6m) | ($37.0m) | $42.6m | |
| Working Capital | — | — | $234.3m | $80.6m | $46.1m | $39.2m | |
| Restricted cash | $16.5m | $16.5m | $16.5m | $31.8m | $24.9m | $575k | |
| Customer funds | $81k | $551k | $591k | $32.9m | $88.6m | $14.7m | |
| Assets of businesses held for sale | — | — | — | — | $17.5m | $0 | |
| Equity method investment | — | — | — | — | $0 | $11.1m | |
| Derivative asset | — | — | — | — | $0 | $3.4m | |
| Noncurrent assets of businesses held for sale | — | — | — | — | $2.2m | $0 | |
| Other current liabilities | $1.9m | $3.7m | $3.8m | $7.9m | $7.6m | $2.7m | |
| Liabilities of businesses held for sale | — | — | — | — | $28.1m | $0 | |
| Warrant liabilities | $0 | $17.4m | $785k | $2.4m | $46.9m | $16.7m | |
| Noncurrent liabilities of businesses held for sale | — | — | — | — | $5.8m | $0 | |
| Total Capitalization | — | — | $96.3m | $48.3m | $33.9m | $112.8m | |
| Total Debt | — | — | $26.4m | $27.2m | $19.9m | $549k | |
| Total Non Current Assets | — | — | $129.0m | $84.2m | $85.5m | $90.6m | |
| Total equity | — | $2.3b | $336.1m | $135.7m | $62.9m | $112.8m | |
| Assets | $208.8m | $2.4b | $455.5m | $966.9m | $269.4m | $162.8m | |
| LIABILITIES AND EQUITY | |||||||
| Total liabilities and stockholders’ equity | $208.8m | $2.4b | $455.5m | $966.9m | $269.4m | $162.8m | |
| Current liabilities: | |||||||
| Operating Lease, Liability, Current | — | $615k | $3.0m | $3.6m | $4.3m | $549k | |
| Accounts Payable, Current | — | $10.6m | $26.0m | $14.9m | $6.5m | $3.7m | |
| Operating Lease, Liability, Noncurrent | — | $10.6m | $23.4m | $23.5m | $19.3m | $0 | |
| Current Deferred Revenue | $4.3m | $4.6m | $4.0m | $4.3m | $0 | $789k | |
| Payables And Accrued Expenses | — | — | $68.5m | $91.5m | $105.2m | $29.5m | |
| Accounts payable and accrued liabilities | $42.9m | $64.1m | $66.8m | $55.4m | $39.9m | $14.9m | |
| Liabilities, Current | $896k | $73.6m | $92.1m | $802.1m | $137.7m | $33.0m | |
| Total current liabilities | $896k | $73.6m | $92.1m | $802.1m | $137.7m | $33.0m | |
| Deferred Income Tax Liabilities, Net | — | $11.6m | $0 | — | — | — | |
| Other Liabilities, Noncurrent | — | $12.7m | $23.4m | $23.5m | $19.3m | $244k | |
| Long Term Debt And Capital Lease Obligation | — | — | $23.4m | $23.5m | $16.1m | $0 | |
| Non Current Deferred Taxes Liabilities | — | $11.6m | $0 | — | — | — | |
| Pensionand Other Post Retirement Benefit Plans Current | — | $2.0m | $275k | $0 | — | — | |
| Other noncurrent liabilities | $3.3m | $12.7m | $23.4m | $23.5m | $19.3m | $244k | |
| Deferred Tax Liabilities, Net | — | $11.6m | $0 | $0 | $0 | $0 | |
| Liabilities | $30.7m | $120.1m | $119.4m | $831.2m | $206.5m | $50.0m | |
| Total Liabilities Net Minority Interest | $8.2m | $120.1m | $119.4m | $129.6m | $206.5m | $50.0m | |
| Stockholders’ equity: | |||||||
| Preferred Stock, Value, Issued | $0 | — | — | — | — | — | |
| Additional Paid in Capital | $0 | $566.8m | $773.0m | $799.7m | $832.7m | $1.0b | |
| Retained Earnings (Accumulated Deficit) | ($29.3m) | ($98.3m) | ($676.4m) | ($751.3m) | ($798.0m) | ($905.2m) | |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $191k | ($55k) | ($290k) | ($101k) | ($841k) | $947k | |
| Common Stock Equity | — | — | $96.3m | $48.3m | $33.9m | $112.8m | |
| Capital Stock | — | — | $27k | $1k | $2k | $3k | |
| Gains Losses Not Affecting Retained Earnings | — | — | ($290k) | ($101k) | ($841k) | $947k | |
| Stockholders' Equity Attributable to Parent | ($29.2m) | $468.4m | $96.3m | $48.3m | $33.9m | $112.8m | |
| Stockholders' Equity Attributable to Noncontrolling Interest | — | $1.8b | $239.8m | $87.4m | $29.0m | $0 | |
| Minority Interest | — | — | $239.8m | $87.4m | $29.0m | $0 | |
| Total Non Current Liabilities Net Minority Interest | — | — | $27.3m | $29.1m | $68.8m | $17.0m | |
| Total stockholders' equity | $5.0m | $468.4m | $96.3m | $48.3m | $33.9m | $112.8m | |
| Liabilities and Equity | $208.8m | $2.4b | $455.5m | $966.9m | $269.4m | $162.8m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.