Bakkt, Inc.
BKKT NYSE· Finance Services
Last close · Oct 26, 2026
$4.79
KIRA · Stoqly’s AI analyst, in plain words
- Bakkt, Inc. had $2.3B of revenue in fiscal 2025, down 32.1% on the year before. Over five years, revenue changed +141.4% a year on average.
- Its operating margin was −6.3%, down 3.9 pts: of every 100 in sales, about −6 is left after running the business.
- Bakkt, Inc. lost $107M in fiscal 2025.
Market cap
$200M
P/E
—
Revenue
$2.3B
Net income
−$107M
Free cash flow
—
Operating margin
−6.3%
Bakkt, Inc. in 30 seconds · fiscal 2025
Are sales growing?
−32.1%
No. Sales fell 32.1% last year.
Does it make a profit?
−4.6%
No. It lost money last year.
How healthy are the accounts?
2 / 7
Weak. It passes 2 of 7 health tests.
How is the share priced?
—
No P/E: it made no profit over the last four quarters.
What Bakkt, Inc. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 19, 2026
- Legal name
- Bakkt, Inc.
- CIK
- 0001820302
Bakkt, Inc. · BKKT
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY20 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $28.5M | — | $727M | $3.4B | $2.3B |
| Revenue growth | — | — | — | 373.3% | −32.1% |
| Net interest income | $0.1M | — | $4.3M | $4.3M | $0.8M |
| Operating margin | −277.7% | — | −21.5% | −2.4% | −6.3% |
| Net income | −$79.6M | — | −$74.9M | −$46.7M | −$107M |
| Net margin | −279.4% | — | −10.3% | −1.4% | −4.6% |
| Diluted EPS | — | — | −$21.01 | −$7.97 | −$8.87 |
| Cash | |||||
| Cash from operations | −$30.9M | — | −$60.7M | −$21.2M | −$153M |
| Capital expenditure | $20.6M | — | $9.4M | $3.1M | — |
| Free cash flow | −$51.5M | — | −$70.1M | −$24.3M | — |
| FCF margin | −180.8% | — | −9.6% | −0.7% | — |
| Share buybacks | — | — | $2.6M | $2.7M | — |
| Share count change | — | — | — | 64.3% | 106.5% |
| Debt and strength | |||||
| Cash and short-term investments | $75.4M | $98.3M | $52.9M | $39.0M | $27.2M |
| Debt incl. finance leases | $0.0M | — | — | — | — |
| Shareholders' equity | −$29.2M | $96.3M | $48.3M | $33.9M | $113M |
| Current ratio | 2.6x | 3.5x | 1.8x | 1.3x | 2.2x |
| Returns and quality | |||||
| Return on equity | — | — | −103.6% | −113.6% | −146.2% |
| Return on tangible equity | — | — | — | — | −251.8% |
| Piotroski F-score | — | — | — | 3 | 2 |
| Altman Z'' | −1.3 | — | −10.8 | −10.4 | −20.3 |
Insiders bought, 12 months
$9.1M
1 insider
Insiders sold, 12 months
$0.4M
4 insiders
Of sales under plans
54%
$0.2M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Bakkt, Inc. · BKKT
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $4.79 a share, the company is worth $200M.
Source: SEC EDGAR XBRL filings (CIK 0001820302). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.