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May 11, 2026·SEC
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Bakkt Holdings, Inc.(BKKT)Earnings, Financials & Key Ratios
BKKT•NYSE
$8.61
Price updated Jul 6, 2026
AboutBakkt Holdings, Inc. operates a digital asset platform. The company's platform enables consumers to buy, sell, convert, and spend digital assets. Its customers include merchants, retailers, and financial institutions. Bakkt Holdings, Inc. has a strategic alliance with the Global Payments to collaborate on use cases starting with enabling cryptocurrency redemption in customer loyalty programs offered by bankcard clients, as well as expanding its banking-as-a-service offerings to include consumer access to cryptocurrency. The company was formerly known as VPC Impact Acquisition Holdings and changed its name to Bakkt Holdings, Inc. The company was founded in 2018 and is headquartered in Alpharetta, Georgia. Bakkt Holdings, Inc. is a subsidiary of Intercontinental Exchange Holdings, Inc.Show more
- Revenue$2.34B-33.1%
- EBITDA-$141M-52.4%
- Net Income-$107M-129.8%
- EPS (Diluted)-15.71-97.1%
- Gross Margin1.15%-53.9%
- EBITDA Margin-6.04%-127.8%
- Operating Margin-6.07%-128.0%
- Net Margin-4.59%-243.4%
- ROE-122.08%-159.8%
BKKT Price & Volume
Bakkt Holdings, Inc. (BKKT) stock price & volume — 10-year historical chart
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Persistent Revenue Contraction Challenges Institutional Viability
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Contracting
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Liquidity and solvency constraints
Key Thesis Takeaways
- Bakkt Holdings faces significant structural headwinds as evidenced by a 77.3% year-over-year revenue decline in 2026Q1, signaling a potential erosion of its core institutional volume base.
- The company's inability to achieve consistent operating leverage, coupled with a retained earnings deficit of $916.8M, suggests that the current business model remains highly vulnerable to market volatility.
- Investors should monitor the firm's ability to stabilize its liquidity position, as the reliance on transactional revenue and erratic cash flow cycles continues to threaten long-term solvency.
Verdict Logic
the company's persistent operating losses and a staggering $916.8M accumulated deficit in retained earnings suggest that the current business model lacks the necessary scale to achieve sustainable profitability.
BKKT Growth Metrics
Bakkt Holdings, Inc. (BKKT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years141.39%
3 Years246.31%
TTM-58.96%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-311.13%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-134.62%
Return on Capital
10 Years-66.85%
5 Years-83.7%
3 Years-85.8%
Last Year-108.42%
BKKT Recent Earnings
Bakkt Holdings, Inc. (BKKT) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 2/12 qtrs (18%)●Beat Revenue 9/12 qtrs (82%)
Q2 2026Latest
May 11, 2026Metric
Actual
Est
EPS
$0.41-310.0%
$0.10
Rev
$244M-18.2%
$298M
Q2 2026
Mar 16, 2026Metric
Actual
Est
EPS
$6.73-1134.9%
$0.55
Rev
$281M-29.1%
$396M
Q4 2025
Nov 10, 2025Metric
Actual
Est
EPS
$1.20+355.3%
$0.47
Rev
$402M+43.7%
$280M
Q3 2025
Aug 11, 2025Metric
Actual
Est
EPS
$2.16
—
Rev
$578M
—
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 11, 2026 | $0.41vs $0.10-310.0% | $244Mvs $298M-18.2% |
| Q2 2026 | Mar 16, 2026 | $6.73vs $0.55-1134.9% | $281Mvs $396M-29.1% |
| Q4 2025 | Nov 10, 2025 | $1.20vs $0.47+355.3% | $402Mvs $280M+43.7% |
| Q3 2025 | Aug 11, 2025 | $2.16 | $578M |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Bakkt Holdings, Inc. (BKKT)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $8.61 | $151.12M | -0.55 | -33.09% | -4.59% | -122.08% | — | |
| $168.87 | $44.49B | 37.95 | 9.4% | 13.78% | 5.68% | — | |
| $100.77 | $33.65B | -6.62 | 2.97% | -2519.39% | -24.09% | — | |
| $117.55 | $105.89B | 57.34 | 51.58% | 41.12% | 21.38% | — | |
| $3.13 | $370.02M | -87.68 | 288.02% | -5.95% | -7.04% | — | |
| $7.13 | $2.39B | 37.53 | 7.68% | 6.76% | 10.01% | — |
Compare BKKT vs Peers
Bakkt Holdings, Inc. (BKKT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
BKKT SEC Filings & Documents
Bakkt Holdings, Inc. (BKKT) SEC filings — annual & quarterly reports (10-K, 10-Q)
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BKKT Frequently Asked Questions
Bakkt Holdings, Inc. (BKKT) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Bakkt Holdings, Inc.'s revenue?
Bakkt Holdings, Inc. (BKKT) reported $1.52B in revenue for fiscal year 2025.
How fast is Bakkt Holdings, Inc. growing?
Bakkt Holdings, Inc. (BKKT) saw revenue decline by 33.1% over the past year.
Is BKKT profitable?
Bakkt Holdings, Inc. (BKKT) reported a net loss of $126.6M for fiscal year 2025.
Dividend & Returns
What is BKKT's return on equity?
Bakkt Holdings, Inc. (BKKT) has a return on equity (ROE) of -122.1%. Negative ROE indicates the company is unprofitable.
What is Bakkt Holdings, Inc.'s free cash flow?
Bakkt Holdings, Inc. (BKKT) had negative free cash flow of $64.5M in fiscal year 2025, likely due to heavy capital investments.