v3.26.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Operating expenses:        
Crypto costs $ 167,938 $ 561,074 $ 407,908 $ 1,615,709
Execution, clearing and brokerage fees 1,318 4,139 3,298 11,832
Compensation and benefits 6,958 10,169 13,560 17,956
Professional services 7,194 4,028 14,939 9,198
Technology and communication 1,700 1,345 3,487 3,301
Selling, general and administrative 2,330 3,271 4,692 6,767
Depreciation and amortization 1,052 154 1,118 374
Impairment of long-lived assets 1,246 0 1,246 0
Restructuring expenses 0 0 0 228
Other operating expenses 26 44 31 52
Total operating expenses 189,762 584,224 450,279 1,665,417
Operating loss from continuing operations (19,613) (16,121) (36,537) (31,558)
Interest income (expense), net 547 (53) 732 568
Change in fair value of warrant liability 1,416 (8,604) 6,116 23,644
Change in fair value of Transchem Warrant 98,496 0 98,496 0
Other income (expense), net 284 (2,038) 906 (34)
Income (loss) from continuing operations before income taxes and equity in net earnings of affiliates 81,130 (26,816) 69,713 (7,380)
Income tax expense (5) (76) (18) (126)
Net income (loss) from continuing operations before equity in net earnings of affiliates 81,125 (26,892) 69,695 (7,506)
Loss from equity method investment (283) 0 (504) 0
Net income (loss) from continuing operations 80,842 (26,892) 69,191 (7,506)
Net loss from discontinued operations, net of tax 0 (3,260) 0 (6,409)
Net income (loss) 80,842 (30,152) 69,191 (13,915)
Less: Net income (loss) attributable to noncontrolling interest 0 (15,418) 0 (6,889)
Net income (loss) attributable to Bakkt, Inc. $ 80,842 $ (14,734) $ 69,191 $ (7,026)
Net income (loss) per share attributable to Class A Common Stockholders:        
Basic (in dollars per share) $ 1.96 $ (2.16) $ 1.99 $ (1.05)
Diluted (in dollars per share) $ 1.94 $ (2.16) $ 1.95 $ (1.05)
Crypto services revenue        
Revenue     $ 413,742 $ 1,633,859