v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 79,984 $ 26,962
Restricted cash 2,576 575
Customer funds 17,393 14,662
Investments 249 235
Accounts receivable, net 9,532 12,070
Prepaid insurance 1,667 2,749
Other current assets 13,593 14,947
Total current assets 124,994 72,200
Property, equipment and software, net 2,322 1,660
Goodwill 64,658 64,658
Intangible assets 5,550 5,550
Equity method investment 10,928 11,149
Derivative asset 160 3,352
Other assets 4,768 4,219
Total assets 213,380 162,788
Current liabilities:    
Accounts payable and accrued liabilities 12,753 14,876
Customer funds payable 17,393 14,662
Deferred revenue, current 0 789
Other current liabilities 129 2,703
Total current liabilities 30,275 33,030
Warrant liability 12,032 16,732
Other noncurrent liabilities 195 244
Total liabilities 42,502 50,006
Commitments and contingencies (Note 15)
Common stock, value 3 3
Additional paid-in capital 1,086,656 1,017,004
Accumulated other comprehensive loss 1,041 947
Accumulated deficit (916,822) (905,172)
Total Bakkt, Inc. stockholders' equity 170,878 112,782
Noncontrolling interest 0 0
Total equity 170,878 112,782
Total liabilities and equity $ 213,380 $ 162,788