v3.26.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating expenses:    
Crypto costs $ 239,970 $ 1,054,635
Execution, clearing and brokerage fees 1,980 7,693
Compensation and benefits 6,602 7,787
Professional services 7,745 5,170
Technology and communication 1,787 1,956
Selling, general and administrative 2,362 3,496
Depreciation and amortization 66 220
Restructuring expenses 0 228
Other operating expenses 5 8
Total operating expenses 260,517 1,081,193
Operating loss from continuing operations (16,924) (15,437)
Interest income, net 185 622
Gain from change in fair value of warrant liability 4,700 32,247
Change in fair value of derivative instrument (224) 0
Other income, net 846 2,005
(Loss) income from continuing operations before income taxes and equity in net earnings of affiliates (11,417) 19,437
Income tax expense (12) (49)
Net (loss) income from continuing operations before equity in net earnings of affiliates (11,429) 19,388
Loss from equity method investment (221) 0
Net (loss) income from continuing operations (11,650) 19,388
Net loss from discontinued operations, net of tax 0 (3,149)
Net (loss) income (11,650) 16,239
Less: Net income attributable to noncontrolling interest 0 8,529
Net (loss) income attributable to Bakkt, Inc. $ (11,650) $ 7,710
Net (loss) income per share attributable to Class A Common Stockholders:    
Basic (in dollars per share) $ (0.41) $ 1.18
Diluted (in dollars per share) $ (0.41) $ 1.13
Crypto services revenue    
Revenue $ 243,593 $ 1,065,756