v3.26.1
Net (loss) income per share
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Net (loss) income per share Net income (loss) per share
Basic income (loss) per share is based on the weighted average number of shares of Class A Common Stock issued and outstanding. Bakkt includes pre-funded warrants in the computation of the weighted-average number of common shares outstanding for basic income (loss) per share as the exercise price is negligible and the warrants are exercisable at any time. Diluted income (loss) per share is based on the weighted average number shares of Class A Common Stock issued and outstanding and the effect of all dilutive common stock equivalents and potentially dilutive share-based awards outstanding. The potentially dilutive securities that would be anti-dilutive are not included in the calculation of diluted income (loss) per share attributable to controlling interest.
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
June 30, 2026		Three Months Ended
June 30, 2025		Six Months Ended
June 30, 2026		Six Months Ended
June 30, 2025
Net income (loss) per share:
Numerator – basic and diluted:
Net income (loss) from continuing operations$80,842 $(26,892)$69,191 $(7,506)
Less: Net loss from continuing operations attributable to noncontrolling interest— (13,751)— (3,716)
Net income (loss) from continuing operations attributable to Bakkt, Inc.80,842 (13,141)69,191 (3,790)
Net loss from discontinued operations attributable to Bakkt, Inc.
— (1,593)— (3,236)
Net income (loss) attributable to Bakkt, Inc. - basic$80,842 $(14,734)$69,191 $(7,026)
Net income (loss) attributable to Bakkt, Inc. - diluted$80,842 $(14,734)$69,191 $(7,026)
Denominator – basic and diluted:
Weighted average shares outstanding – basic41,181,719 6,825,634 34,816,194 6,677,934 
Assumed vesting of Restricted stock units79,974 — 91,197 — 
Assumed cashless exercise of Class II warrants432,325— 432,325— 
Assumed exercise of Stock options— — 71,064— 
Assumed vesting of Employment warrants— — 1,123— 
Weighted average shares outstanding –diluted41,694,018 6,825,634 35,411,903 6,677,934 
Net income (loss) per share from continuing operations attributable to Bakkt, Inc.$1.96 $(1.93)$1.99 $(0.57)
Net loss per share from discontinued operations attributable to Bakkt, Inc.
— (0.23)— (0.48)
Net income (loss) per basic share attributable to Bakkt, Inc.$1.96 $(2.16)$1.99 $(1.05)
Net income (loss) per diluted share attributable to Bakkt, Inc.$1.94 $(2.16)$1.95 $(1.05)
Potential common shares issuable to employees or directors upon exercise or conversion of shares under our share-based and unit-based compensation plans and upon exercise of warrants are excluded from the computation of diluted income (loss) per common share when the effect would be anti-dilutive.
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):
Three Months Ended
June 30, 2026		Three Months Ended
June 30, 2025		Six Months Ended
June 30, 2026		Six Months Ended
June 30, 2025
Restricted Stock Units (treasury stock)— 3,215 — 3,215 
Public warrants (treasury stock)286 286 286 286 
Class I warrants (treasury stock)1,153 1,153 1,153 1,153 
Class II warrants (treasury stock)— 865 — 865 
Convertible debentures (if-converted)— 1,912 — 1,912 
Opco common units (if-converted)— 7,178 — 7,178 
Market Condition PSUs (treasury stock)
804 — 804 — 
Stock Options (treasury stock)
1,898 — — — 
DTR Consideration shares (treasury stock)726 — 726 — 
Gyzer Consideration shares (treasury stock)345 — 315 — 
Total5,211 14,609 3,283 14,609