Bakkt Holdings, Inc. (BKKT) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | -12.09M | -6.68M | -46.66M | 5.35M | -101.28M | 31.4M | -25.07M | -65.89M | 38.35M | -6.81M | 24.59M | -31.25M | -47.24M | -23.69M | -33.48M | -27.27M | -33.16M | -83.39M | -25.11M | -17.69M |
| Operating CF Margin % | -4.96% | -2.23% | -11.6% | 0.93% | -9.42% | 1.75% | -7.63% | -12.92% | 4.49% | -3.17% | 12.01% | -8.99% | -357.37% | -148.93% | -253.35% | -194.33% | -264.57% | -610.27% | -274.72% | -208.44% |
| Operating CF Growth % | 88.06% | -121.27% | -86.14% | 108.12% | -364.08% | 561.39% | -201.91% | -110.89% | 181.19% | 71.27% | 173.47% | -14.56% | -42.48% | 71.59% | -33.29% | -54.19% | -3304.11% | -5877.56% | -165.71% | - |
| Net Income | -11.65M | -55.13M | -13.32M | -14.73M | 16.24M | -40.37M | -19.4M | -35.51M | -21.27M | -78.69M | -51.75M | -50.51M | -44.86M | -98.95M | -468.13M | -3.9M | -43.32M | -164.83M | -28.85M | -31.89M |
| Depreciation & Amortization | 66K | 80K | 153K | 154K | 220K | 62K | -1.94M | 117K | 57K | 3.09M | 3.96M | 3.82M | 3.06M | 7.01M | 7.19M | 6.86M | 5.85M | 5.42M | 3.24M | 3M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 3.34M | 2.79M | 2.63M | 2.41M | 8.01M | 1.18M | 3.31M | 4.35M | 7.92M | 0 | 0 | 0 | 13.35M | 45.91M | 604K | 1.26M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 152K | 0 | -2.74M | -610K | -5.1M | -3.14M | 11.73M | 0 | 6K |
| Other Non-Cash Items | -1.16M | 36.27M | -3.84M | 2.21M | -33.74M | 31.78M | 1.4M | 15.48M | -8.14M | 65.91M | 24.39M | 21K | 2.05M | 62.5M | 431.59M | -27.09M | -1.87M | 79.2M | 2.89M | 259K |
| Working Capital Changes | 648K | 12.1M | -29.65M | 17.72M | -87.35M | 37.14M | -7.75M | -48.39M | 59.69M | 1.71M | 44.69M | 10.92M | -15.41M | 8.48M | -3.52M | 1.96M | -4.01M | -60.83M | -3M | 9.68M |
| Change in Receivables | 1.5M | 6.08M | -8.99M | 5.26M | -3.59M | 1.73M | -2.36M | 12.32M | -6.29M | -13.64M | -684K | 4.38M | -88K | -3.2M | -677K | -1.97M | -1.32M | -1.13M | -1.41M | -1.56M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.28M | 0 | 0 | 0 | 0 | 0 | -32.7M | 0 | -761K |
| Change in Payables | -2.12M | -75.69M | -6.94M | 5.4M | -1.81M | -1.98M | 2.56M | -26.6M | 10.87M | 6.26M | -3.1M | 4.85M | -15.99M | 11.41M | -8.03M | -959K | -1.68M | -19.73M | -1.56M | 11.62M |
| Cash from Investing | 1.94M | -22.72M | -19.77M | 4.5M | -130K | 6.24M | 5.9M | 4.3M | -2.3M | 260K | -9.41M | 5.42M | 69.7M | -35.38M | 67.36M | -200.81M | -3.12M | 27.26M | -2.6M | -2.43M |
| Capital Expenditures | -728K | -464K | -3.2M | -19K | -130K | -308K | 2.23M | -463K | -1.77M | -1.53M | -1.86M | -2.33M | -3.72M | -8.01M | -7.77M | -11.64M | -3.12M | -3.58M | -2.63M | -4.2M |
| CapEx % of Revenue | 0.3% | 0.16% | 0.8% | 0% | 0.01% | 0.02% | 0.68% | 0.09% | 0.21% | 0.71% | 0.91% | 0.67% | 28.13% | 50.35% | 58.81% | 82.94% | 24.91% | 26.19% | 28.71% | 49.43% |
| Acquisitions | 0 | -37.74M | 0 | 4.52M | 0 | 0 | 0 | 0 | 0 | -3.58M | 46K | -44.37M | -631K | 0 | 0 | 0 | 0 | 30.84M | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 2.68M | 10.62M | 0 | 0 | 0 | 0 | -2.78M | 0 | 0 | 0 | 0 | -2.33M | 0 | 0 | 0 | 0 | 0 | -5.51M | 20K | 1.77M |
| Cash from Financing | 66.78M | -3.4M | 60.09M | 17.17M | 4.09M | -260K | -112K | 7.49M | 36.7M | -132K | 0 | -2.5M | 0 | -2.59M | 1K | 1K | 1K | 256.83M | -33K | -33K |
| Debt Issued (Net) | 0 | -4.13M | 14.35M | 18.75M | 5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -404K | -33K | -33K |
| Equity Issued (Net) | 66.78M | 384K | 70.42M | -806K | 0 | 2.43M | -112K | 7.54M | 38.96M | -132K | 0 | -2.5M | 0 | -2.59M | 1K | 1K | 0 | 264.59M | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -280K | 0 | 0 | -806K | 0 | 2.43M | -112K | 0 | 0 | -132K | 0 | -2.5M | 0 | -2.59M | 0 | 0 | 0 | -84.53M | 0 | 0 |
| Other Financing | 0 | 346K | -24.68M | -775K | -905K | -2.69M | 0 | -56K | -2.26M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1K | -7.26M | 0 | 0 |
| Net Change in Cash | 55.02M | -36.9M | 2.98M | 18.69M | -97.29M | 36.25M | -19.03M | -54.31M | 72.33M | -6.21M | 14.79M | -27.99M | 22.48M | -61.54M | 33.12M | -228.44M | -36.09M | 200.49M | -27.95M | -20.05M |
| Free Cash Flow | -12.82M | -7.14M | -49.86M | 5.33M | -101.41M | 31.09M | -22.83M | -66.36M | 36.58M | -8.33M | 22.74M | -33.57M | -50.96M | -31.7M | -41.24M | -38.91M | -36.28M | -86.97M | -27.74M | -21.88M |
| FCF Margin % | -5.26% | -2.39% | -12.4% | 0.92% | -9.43% | 1.73% | -6.95% | -13.01% | 4.28% | -3.89% | 11.1% | -9.66% | -385.51% | -199.28% | -312.15% | -277.27% | -289.48% | -636.45% | -303.43% | -257.87% |
| FCF Growth % | 87.36% | -122.97% | -118.39% | 108.04% | -377.22% | 473.1% | -200.42% | -97.65% | 171.79% | 73.71% | 155.12% | 13.73% | -40.47% | 63.55% | -48.68% | -77.83% | -621.52% | -1606.53% | -68.06% | - |
| FCF per Share | -0.96 | -0.53 | -7.30 | 0.78 | -15.60 | 4.78 | -3.59 | -10.77 | 8.32 | -2.26 | 6.22 | -9.34 | -15.56 | -10.02 | -13.46 | -0.55 | -0.57 | -1.61 | -0.56 | -0.44 |
| FCF Conversion (FCF/Net Income) | 1.04x | 0.08x | 3.13x | -0.36x | -13.14x | -1.64x | 8.66x | 4.01x | -4.70x | 0.25x | -1.42x | 1.85x | 3.38x | 0.24x | 0.07x | 7.00x | 4.65x | 0.89x | 0.87x | 0.55x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |