Bakkt, Inc. income statement
In fiscal 2025, Bakkt, Inc. reported revenue of $2.34bn, down 32.1% on the year before, operating income of −$148m (a -6.3% margin) and net income of −$107m, or −$8.87 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2020Dec 2020 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 28 | 56 | 727 | 3,441 | 2,335 |
| Operating income | −79 | −2,019 | −156 | −83 | −148 |
| Net interest income | 0 | 2 | 4 | 4 | 1 |
| Income before tax | −79 | −2,001 | −153 | −94 | −97 |
| Income tax | 0 | −11 | 0 | 0 | −0 |
| Net income | −80 | −578 | −75 | −47 | −107 |
| Diluted EPS | — | −$101.54 | −$10.51 | −$3.98 | −$8.87 |
| Diluted shares (average) | — | 6m | 7m | 12m | 12m |
| EBITDA | −71 | −1,994 | −142 | −82 | −147 |
| Quarter | 2023 Q3Sept 2023 | 2023 Q4Dec 2023 | 2024 Q1Mar 2024 | 2024 Q2Jun 2024 | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 205 | 161 | 855 | 510 | 328 | 1,748 | 1,075 | 578 |
| Operating income | −53 | −7 | −32 | −22 | −25 | −10 | −15 | −16 |
| Net interest income | 1 | 1 | 1 | 1 | 1 | 1 | 1 | −0 |
| Income before tax | −52 | −7 | −21 | −35 | −4 | −40 | 19 | −27 |
| Income tax | 0 | −0 | 0 | 0 | −0 | −0 | 0 | 0 |
| Net income | −17 | −27 | −8 | −16 | −3 | −19 | 8 | −15 |
| Diluted EPS | −$4.74 | −$7.29 | −$1.86 | −$2.67 | −$0.45 | −$3.10 | $1.13 | −$2.16 |
| EBITDA | −49 | −4 | −32 | −22 | −25 | −10 | −15 | −16 |
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