Bakkt Inc Dossier
Financial Snapshot
Revenue, profitability, returns, debt, and capital allocation
Revenue $2.3B-32.1% YoYTTM through 31 Dec 2025
Net Income -$132.2MTTM through 31 Dec 2025
Free Cash Flow -$154.6MTTM through 31 Dec 2025
Margins
| Current | |
|---|---|
| Operating Margin | -6.3% |
| Net Margin | -5.7% |
Returns
-117.3%ROE
-81.2%ROA
Balance Sheet Health
Debt / Equity0.00x
Current Ratio2.19x
Net Debt-$27.2Mnet cash position
Cash & Equivalents$27M
Quality Metrics
FCF Margin-6.6%
Earnings-Beat Rate33.3%
Dividend
No dividend
Segment Performance
| Segment | Revenue | YoY | Outlook |
|---|---|---|---|
| Crypto Services | $2.3B | -32.1% | View detailsFollowing the divestiture of non-core custody and loyalty businesses, the segment is restructured around three core engines: Bakkt Markets, Bakkt Agent, and Bakkt Global. |
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