v3.26.1
Consolidated Balance Sheet Components (Tables)
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Accounts Receivable, Net
Accounts receivable, net consisted of the following (in thousands):
June 30, 2026December 31, 2025
Trade accounts receivable$— $98 
Receivables from customers, clients and liquidity partners4,603 4,244 
Unbilled receivables— 27 
Deposits1,561 2,703 
Other receivables5,348 5,234 
Total accounts receivable11,512 12,306 
Less: Allowance for doubtful accounts(236)(236)
Total$11,276 $12,070 
Schedule of Other Current Assets
Other current assets consisted of the following (in thousands):
June 30, 2026December 31, 2025
Prepaid expenses$1,296 $2,209 
Promissory note from Loyalty buyer5,144 5,050 
Advances to Loyalty buyer6,444 7,491 
Other725 197 
Total$13,609 $14,947 
Schedule of Property, Equipment and Software, Net
Property, equipment and software, net consisted of the following (in thousands):
June 30, 2026December 31, 2025
Internal-use software$2,384 $2,014 
Leasehold improvements251 — 
Property, equipment and software, gross2,635 2,014 
Less: accumulated amortization and depreciation(550)(354)
Total$2,085 $1,660 
Schedule of Equity Method Investments
Bakkt's equity method investment balances were as follows (in thousands):

June 30, 2026December 31, 2025
Bitcoin.co.jp
$10,645 $11,149 
Schedule of Other Assets
Other assets consisted of the following (in thousands):
June 30, 2026December 31, 2025
Operating lease right-of-use assets$73 $— 
Deposits with clearinghouse$159 $— 
Escrow deposit for sale of Loyalty2,500 2,500 
Other3,280 1,719 
Total$6,012 $4,219 
Schedule of Accounts Payable and Accrued Liabilities
Accounts payable and accrued liabilities consisted of the following (in thousands):
June 30, 2026December 31, 2025
Accounts payable$1,377 $3,716 
Payables to clients and customers2,027 2,464 
Accrued expenses5,701 5,990 
Other742 2,706 
Total$9,847 $14,876 
Schedule of Other Current Liabilities
Other current liabilities consisted of the following (in thousands):
June 30, 2026December 31, 2025
Current maturities of operating lease liability$20 $549 
Other571 2,154 
Total$591 $2,703 
Schedule of Other Noncurrent Liabilities
Other noncurrent liabilities consisted of the following (in thousands):
June 30, 2026December 31, 2025
Operating lease liability, noncurrent$43 $244 
DTR top-up consideration4,919 — 
Other2,612 — 
Total$7,574 $244