← Bakkt, Inc.
| Annual Trend | FY 2020 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| Operating Revenue | — | $56.2m |
$727.0m
+1193.02%
|
$3.4b
+373.33%
|
$2.3b
-32.14%
|
$1.5b
-35.21%
|
|
| Total Revenue | $28.5m |
$54.6m
+91.50%
|
$780.1m
+1329.68%
|
$3.5b
+347.39%
|
$2.3b
-33.09%
|
$1.5b
-35.21%
|
|
| Cost Of Revenue | $99.4m |
$1.7m
-98.33%
|
$718.5m
+43262.16%
|
$3.4b
+373.65%
|
$2.3b
-32.17%
|
$1.5b
-35.29%
|
|
| Gross Profit (derived) | ($70.9m) |
$54.6m
+176.96%
|
$8.5m
-84.46%
|
$37.8m
+346.49%
|
$26.9m
-29.05%
|
$19.4m
-27.92%
|
|
| Net Interest Income | $123k |
$1.9m
+1426.02%
|
$4.3m
+131.11%
|
$4.3m
-0.46%
|
$791k
-81.68%
|
$354k
-55.25%
|
|
| Interest Income (Expense), Net | $123k |
$1.9m
+1426.02%
|
$4.3m
+131.11%
|
$4.3m
-0.46%
|
$791k
-81.68%
|
$791k
0.00%
|
|
| Selling, general and administrative | $8.2m | $35.4m | $33.4m | $26.6m | $12.7m | $122.7m | |
| Labor and Related Expense | $43.1m | $139.0m | $102.0m | $83.2m | $77.3m | — | |
| Amortization of Intangible Assets | $6.5m | $21.8m | $8.8m | — | $0 | — | |
| Restructuring And Mergern Acquisition | — | $8.0m | $8.5m | $8.3m | $5.4m | $5.2m | |
| Restructuring expenses | — | $2.3m | $4.6m | $8.2m | $5.3m | — | |
| Operating Expenses | $107.6m | $2.1b | $1.0b | $3.6b | $2.5b | $1.7b | |
| Other Operating Expenses | — | $3.5m | $8.0m | $24.7m | $45.4m | — | |
| Other operating expenses | $857k | $2.3m | $1.6m | $1.5m | $84k | — | |
| EBIT | ($79.1m) | ($177.3m) | ($110.9m) | ($73.5m) | ($141.7m) | ($143.4m) | |
| Operating Income | ($79.1m) |
($177.3m)
-124.12%
|
($110.9m)
+37.44%
|
($73.5m)
+33.73%
|
($141.7m)
-92.76%
|
($143.4m)
-1.21%
|
|
| Operating loss from continuing operations | ($1.0m) | ($2.0b) | ($227.9m) | ($92.9m) | ($147.8m) | — | |
| Other Non Operating Income Expenses | — | ($856k) | $179k | $1.2m | $19.5m | — | |
| Operating Income (Loss) | ($79.1m) |
($2.0b)
-2451.74%
|
($227.9m)
+88.71%
|
($92.9m)
+59.23%
|
($147.8m)
-59.11%
|
($143.4m)
+2.98%
|
|
| Total Operating Income As Reported | — | ($2.0b) | ($156.2m) | ($82.6m) | ($147.8m) | ($143.4m) | |
| Interest income, net | $123k | $1.9m | $4.3m | $4.3m | $791k | $791k | |
| Net Non Operating Interest Income Expense | $123k | $1.9m | $4.3m | $4.3m | $791k | $354k | |
| Gain On Sale Of Security | $0 | $16.6m | ($1.6m) | ($17.2m) | $30.2m | $2.4m | |
| Gain (loss) from change in fair value of warrant liability | $0 | $16.6m | ($1.6m) | ($17.2m) | $30.2m | — | |
| Income (Loss) from Equity Method Investments | — | — | ($153.3m) | ($94.3m) | ($323k) | — | |
| Other income, net | ($218k) | ($856k) | ($245k) | $2.5m | $19.5m | $14.8m | |
| Loss from equity method investment | — | — | $0 | $0 | ($323k) | — | |
| Other Nonoperating Income (Expense) | ($218k) | ($856k) | ($245k) | $2.5m | $19.5m | — | |
| Other Income Expense | — | ($1.8b) | ($46.7m) | ($25.1m) | $43.5m | $14.8m | |
| Income (Loss) from Continuing Operations before Income Taxes, Domestic | ($82.3m) | ($2.0b) | ($225.7m) | ($103.5m) | ($97.4m) | ($128.2m) | |
| Loss from continuing operations before income taxes and equity in earnings of affiliates | — | — | ($153.3m) | ($94.3m) | ($97.4m) | — | |
| Pre-Tax Income | — | ($2.0b) | ($153.3m) | ($94.3m) | ($97.4m) | ($128.2m) | |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | ($79.2m) | ($2.0b) | ($225.4m) | ($103.3m) | ($97.4m) | ($128.2m) | |
| Current Income Tax Expense (Benefit) | $745k | $252k | $444k | $170k | ($49k) | ($86k) | |
| Income tax (benefit) expense | ($391k) | $11.3m | ($444k) | ($170k) | ($49k) | — | |
| Net Income From Continuing And Discontinued Operation | ($79.6m) | ($578.1m) | ($74.9m) | ($46.7m) | ($107.2m) | ($126.6m) | |
| Net loss from continuing operations before equity in net earnings of affiliates | — | — | ($153.7m) | ($94.4m) | ($97.3m) | — | |
| Net loss from continuing operations | — | — | ($153.7m) | ($94.4m) | ($97.7m) | — | |
| Net loss from discontinued operations, net of tax | — | — | ($72.2m) | ($9.0m) | ($34.6m) | — | |
| Net loss | ($79.6m) | ($2.0b) | ($225.8m) | ($103.4m) | ($132.2m) | — | |
| Net loss attributable to Bakkt, Inc. | ($1.0m) | ($578.1m) | ($74.9m) | ($46.7m) | ($107.2m) | — | |
| Net Income Continuous Operations | — | ($2.0b) | ($153.7m) | ($94.4m) | ($97.7m) | ($128.7m) | |
| Net Income Discontinuous Operations | — | — | ($72.2m) | ($9.0m) | ($34.6m) | ($31.4m) | |
| Basic net loss per share attributable to Class A common stockholders, Continuing operations (in dollars per share) | — | — | ($14) | ($7) | ($7) | — | |
| Basic net loss per share attributable to Class A common stockholders, Discontinued operations (in dollars per share) | — | — | ($7) | ($1) | ($2) | — | |
| Diluted net loss per share attributable to Class A common stockholders, Continuing operations (in dollars per share) | — | — | ($14) | ($7) | ($7) | — | |
| Diluted net loss per share attributable to Class A common stockholders, Discontinued operations (in dollars per share) | — | — | ($7) | ($1) | ($2) | — | |
| Net Income From Continuing Operation Net Minority Interest | — | ($578.1m) | ($2.7m) | ($37.6m) | ($72.6m) | ($95.1m) | |
| Less: Net loss attributable to noncontrolling interest | — | ($1.4b) | ($151.0m) | ($56.8m) | ($25.0m) | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | ($1.4b) | ($151.0m) | ($56.8m) | ($25.0m) | ($126.6m) | |
| Net Income Including Noncontrolling Interests | ($79.6m) | ($2.0b) | ($225.8m) | ($103.4m) | ($132.2m) | ($160.1m) | |
| Income (Loss) from Continuing Operations, Per Basic Share | — | — | ($14) | ($7) | ($7) | — | |
| Income (Loss) from Continuing Operations, Per Diluted Share | — | — | ($14) | ($7) | ($7) | — | |
| Earnings Per Share, Basic | ($0.19) | ($8.12) | ($0.84) | ($7.97) | ($8.87) | ($10.46) | |
| Earnings Per Share, Diluted | ($0.19) | ($8.12) | ($0.84) | ($7.97) | ($8.87) | ($10.46) | |
| Weighted Average Number of Shares Outstanding, Basic | — | 71.2m | 89.1m | 5.9m | 12.1m | 17.6m | |
| Basic Average Shares | — | $2.8m | $3.6m | $5.9m | $25.5m | $17.6m | |
| Diluted Average Shares | — | $2.8m | $3.6m | $5.9m | $25.5m | $17.6m | |
| Weighted Average Number of Shares Outstanding, Diluted | — | 71.2m | 89.1m | 5.9m | 12.1m | 17.6m | |
| Additional Financial Items | |||||||
| Capitalized Computer Software, Amortization | $900k | $1.7m | $1.8m | $200k | $600k | — | |
| Debt Securities Available For Sale Excluding Accrued Interest Allowance For Credit Loss Not Previously Recorded | — | $0 | $0 | — | — | — | |
| Goodwill, Impairment Loss | — | $1.5b | $0 | $0 | — | $733k | |
| Average Dilution Earnings | — | $0 | $0 | $0 | — | $0 | |
| Depreciation Amortization Depletion Income Statement | $8.2m | $25.4m | $12.3m | $343k | $607k | $453k | |
| Depreciation And Amortization In Income Statement | $8.2m | $25.4m | $12.3m | $343k | $607k | $453k | |
| Diluted EPS | — | ($203.08) | ($21.01) | ($7.97) | ($8.87) | ($10.46) | |
| Diluted NI Availto Com Stockholders | ($79.6m) | ($578.1m) | ($74.9m) | ($46.7m) | ($107.2m) | ($126.6m) | |
| Earnings From Equity Interest Net Of Tax | — | — | $0 | $0 | ($323k) | ($544k) | |
| Impairment Of Capital Assets | — | $1.8b | $36.8m | $744k | $733k | $733k | |
| Minority Interests | — | $1.4b | $151.0m | $56.8m | $25.0m | $33.5m | |
| Normalized EBITDA | — | $1.7b | ($50.1m) | ($46.9m) | ($165.2m) | ($143.0m) | |
| Normalized Income | — | $1.2b | $34.3m | ($16.9m) | ($96.7m) | ($91.7m) | |
| Other Gand A | — | $64.0m | $53.5m | $50.3m | $45.2m | — | |
| Reconciled Depreciation | — | $25.4m | $13.9m | $343k | $607k | $453k | |
| Salaries And Wages | — | $139.0m | $45.5m | $36.1m | $77.3m | $76.2m | |
| Selling General And Administration | — | $203.0m | $99.0m | $86.4m | $122.6m | — | |
| Special Income Charges | — | ($1.8b) | ($45.3m) | ($9.1m) | ($6.1m) | ($5.9m) | |
| Tax Effect Of Unusual Items | — | ($10.3m) | ($9.8m) | ($5.5m) | $12k | ($2k) | |
| Tax Provision | — | ($11.3m) | $355k | $110k | ($49k) | ($86k) | |
| Tax Rate For Calcs | — | $0 | $0 | $0 | $0 | $0 | |
| Execution, clearing and brokerage fees | — | $0 | $3.8m | $24.0m | $18.4m | — | |
| Compensation and benefits | $43.1m | $139.0m | $102.0m | $83.2m | $77.3m | — | |
| Professional services | $5.8m | $11.5m | $10.4m | $16.8m | $25.3m | — | |
| Technology and communication | $9.7m | $17.1m | $20.8m | $17.7m | $7.3m | — | |
| Goodwill and intangible assets impairments | — | $1.8b | $60.5m | $0 | $0 | — | |
| Impairment of long-lived assets | $15.3m | $11.5m | $30.3m | $889k | $733k | — | |
| Business Combination, Acquisition Related Costs | $13.4m | $5.7m | $4.3m | $128k | $53k | — | |
| Other Cost and Expense, Operating | $857k | $2.3m | $1.6m | $1.5m | $84k | — | |
| Operating Expense | — | $231.9m | $119.4m | $111.4m | $168.6m | $162.8m | |
| Crypto costs (See Note 2) | $99.4m | $1.7m | $718.5m | $3.4b | $2.3b | — | |
| Acquisition-related expenses | $13.4m | $5.7m | $4.3m | $128k | $53k | — | |
| TRA settlement expense | — | — | $0 | $0 | $26.9m | — | |
| Related party expenses | $3.1m | $1.2m | $3.9m | $600k | $0 | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | — | — | $153.3m | $94.3m | ($79.2m) | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | $153.3m | $94.3m | ($97.7m) | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | $72.2m | $9.0m | ($34.6m) | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | — | — | $72.2m | $9.0m | ($28.0m) | — | |
| Total Unusual Items | — | ($1.8b) | ($46.9m) | ($26.3m) | $24.1m | ($3.5m) | |
| Total Expenses | — | $233.5m | $837.9m | $3.5b | $2.5b | $1.7b | |
| Total Other Finance Cost | — | ($1.9m) | ($4.3m) | ($4.3m) | ($791k) | ($791k) |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.