Net Loss per share (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Basic and Diluted Per Share Computations For Net Loss

The following is a reconciliation of the denominators of the basic and diluted per share computations for net income (loss) (in thousands, except share and per share data):


	Three Months Ended March 31, 2025		Three Months Ended March 31, 2024
Net Income (loss) per share:
Numerator – basic and diluted:
Net income (loss)	$	16,239	$	(21,275)
Less: Net income (loss) attributable to noncontrolling interest	8,529		(13,110)
Net income (loss) attributable to Bakkt Holdings, Inc. – basic	7,710		(8,165)

Dilutive effect from assumed vesting of RSUs and PSUs, net of tax	387		—
Net income (loss) attributable to Bakkt Holdings, Inc. – diluted	$	8,097	$	(8,165)

Denominator – basic and diluted:

Weighted average shares outstanding – basic	6,531,840		4,396,495
Assumed vesting of RSUs and PSUs, net of tax	642,763		—
Weighted average shares outstanding –diluted	7,174,603		4,396,495


Net income (loss) per share – basic	$	1.18	$	(1.86)
Net income (loss) per share – diluted	$	1.13	$	(1.86)

Schedule of Weighted-Average Potential Common Shares Excluded From Diluted Loss Per Common Share

The following table summarizes the total potential common shares excluded from diluted earnings per common share as their effect would be anti-dilutive (in thousands):


			As of March 31, 2025

Public warrants			286

Class 1 and Class 2 warrants			2,018
Opco common units			7,178
Total			9,482