v3.25.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues:    
Total revenues $ 1,074,910 $ 854,582
Operating expenses:    
Crypto costs 1,054,635 831,972
Execution, clearing and brokerage fees 7,693 5,630
Compensation and benefits 17,819 24,531
Professional services 5,192 3,635
Technology and communication 3,568 5,922
Selling, general and administrative 3,829 7,811
Depreciation and amortization 220 57
Impairment of long-lived assets 0 288
Restructuring expenses 228 6,140
Other operating expenses 246 433
Total operating expenses 1,093,430 886,419
Operating loss (18,520) (31,837)
Interest income, net 622 956
Gain from change in fair value of warrant liability 32,247 9,046
Other income, net 1,939 716
Income (loss) before income taxes 16,288 (21,119)
Income tax expense (49) (156)
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. $ 7,710 $ (8,165)
Net earnings (loss) per share attributable to Class A Common Stockholders:    
Basic (in dollars per share) $ 1.18 $ (1.86)
Diluted (in dollars per share) $ 1.13 $ (1.86)
Crypto services    
Revenues:    
Total revenues $ 1,065,756 $ 841,340
Loyalty services, net    
Revenues:    
Total revenues $ 9,154 $ 13,242