Symbols / BKKT $9.71 +0.73%
BKKT Chart
About
Bakkt, Inc. engages in building financial infrastructure. The company provides solutions that enable institutional participation in the digital asset economy spanning Bitcoin, tokenization, stablecoin payments, and AI-driven finance. It serves client, such as financial institutions, fintechs, broker-dealers, neobanks, registered investment advisers, funds, merchants, and other businesses. It markets its products and services using various business-to-business channels, such as direct marketing, including email marketing and targeted digital advertisements; indirect marketing; and its website, blog, and social media platforms. The company offers its services in the United States, Latin America, Europe, and Asia. The company was formerly known as Bakkt Holdings, Inc. and changed its name to Bakkt, Inc. in January 2026. Bakkt, Inc. was founded in 2018 and is headquartered in New York, New York.
Fundamentals
Scroll to Statements| Sector | Technology | Industry | Software - Infrastructur | Market Cap | 296.76M |
| Enterprise Value | 192.79M | Income | -41.52M | Sales | 3.87B |
| Book/sh | 6.95 | Cash/sh | 2.73 | Dividend Yield | — |
| Payout | 0.00% | Employees | 559 | IPO | — |
| P/E | — | Forward P/E | 10.11 | PEG | — |
| P/S | 0.08 | P/B | 1.40 | P/C | — |
| EV/EBITDA | -2.74 | EV/Sales | 0.05 | Quick Ratio | 1.41 |
| Current Ratio | 2.24 | Debt/Eq | 9.73 | LT Debt/Eq | — |
| EPS (ttm) | -5.71 | EPS next Y | 0.96 | EPS Growth | — |
| Revenue Growth | 27.10% | Earnings | 2026-05-11 | ROA | -6.10% |
| ROE | -67.52% | ROIC | — | Gross Margin | -1.32% |
| Oper. Margin | -4.89% | Profit Margin | -1.06% | Shs Outstand | 30.56M |
| Shs Float | 22.57M | Short Float | 24.90% | Short Ratio | 3.37 |
| Short Interest | — | 52W High | 49.79 | 52W Low | 6.81 |
| Beta | 6.10 | Avg Volume | 1.48M | Volume | 1.75M |
| Target Price | $40.00 | Recom | None | Prev Close | $9.64 |
| Price | $9.71 | Change | 0.73% |
Valuation Models
Price estimates from analyst targets and simple models.
1. Analyst consensus
$40.00
Mean price target
2. Current target
$9.71
Latest analyst target
3. DCF / Fair value
$-4.37
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$9.71
Low
$40.00
High
$40.00
Mean
$40.00
Latest analyst rating changes
| Date | Action | Analyst | Rating Change | Price Target |
|---|---|---|---|---|
| 2025-09-08 | init | Benchmark | — → Buy | $13 |
| 2024-03-27 | main | Citigroup | Sell → Sell | $0 |
| 2024-03-26 | reit | Rosenblatt | Buy → Buy | $1 |
| 2024-03-01 | main | Rosenblatt | Buy → Buy | $1 |
| 2023-11-15 | main | Rosenblatt | Buy → Buy | $2 |
| 2023-08-11 | reit | Rosenblatt | Buy → Buy | $2 |
| 2023-05-12 | reit | Rosenblatt | Buy → Buy | $2 |
| 2023-03-31 | reit | Rosenblatt | — → Buy | $2 |
| 2023-03-10 | main | Rosenblatt | — → Buy | $2 |
| 2023-01-09 | main | Wells Fargo | — → Equal-Weight | $2 |
| 2022-11-30 | init | Rosenblatt | — → Buy | $2 |
| 2022-09-29 | init | Wells Fargo | — → Equal-Weight | $3 |
| 2022-08-19 | main | Citigroup | — → Neutral | $3 |
| 2022-01-12 | main | Jefferies | — → Hold | $7 |
| 2021-11-11 | init | Jefferies | — → Hold | $28 |
- After $100M raise, Bakkt ends 2025 debt-free but still in the red - Stock Titan Mon, 16 Mar 2026 22
- $BKKT stock is down 3% today. Here's what we see in our data. - Quiver Quantitative ue, 17 Mar 2026 14
- Bakkt Holdings Delays Annual 10-K (Yearly Report) - TipRanks ue, 17 Mar 2026 14
- (BKKT) Volatility Zones as Tactical Triggers - Stock Traders Daily Fri, 13 Mar 2026 23
- Bakkt (BKKT) Q4 2025 Earnings Call Transcript - AOL.com ue, 17 Mar 2026 15
- Bakkt (NYSE: BKKT) 2025 crypto revenue drops while losses and EBITDA improve - Stock Titan ue, 17 Mar 2026 12
- Bakkt: From Speculative Turnaround To Decent Growth Story (NYSE:BKKT) - Seeking Alpha hu, 08 Jan 2026 08
- Bakkt Inc (BKKT) Q4 2025: Everything You Need To Know Ahead Of E - GuruFocus Mon, 16 Mar 2026 13
- Bakkt Holdings earnings missed by $6.51, revenue topped estimates - Investing.com ue, 17 Mar 2026 07
- Bakkt Highlights 2025 Results, Strategic Overhaul and Refocus - TipRanks ue, 17 Mar 2026 12
- Bakkt stock price forecast: Bearish trend persists as BKKT gains 4.66% with resistance ahead - Traders Union Mon, 16 Mar 2026 15
- $BKKT stock is up 3% today. Here's what we see in our data. - Quiver Quantitative Wed, 18 Feb 2026 08
- Bakkt folds Q4 2025 results into March 17 Investor Day event - Stock Titan hu, 12 Mar 2026 12
- Bakkt stock dives after estimated cash drops, announces new ATM program (BKKT:NYSE) - Seeking Alpha ue, 20 Jan 2026 08
- $BKKT stock is down 5% today. Here's what we see in our data. - Quiver Quantitative Wed, 28 Jan 2026 08
Insider Transactions
| Date | Shares | Value | Url | Text | Insider | Position | Transaction | Start Date | Ownership |
|---|---|---|---|---|---|---|---|---|---|
| 0 | 785 | 7924.0 | — | Sale at price 10.09 per share. | D'ANNUNZIO MARC | General Counsel | — | 2026-02-24 00:00:00 | D |
| 1 | 2461 | 24635.0 | — | Sale at price 10.01 per share. | HENDERSON JOSEPH SEAN-WALSH | Officer | — | 2025-12-19 00:00:00 | D |
| 2 | 465890 | nan | — | — | INTERCONTINENTAL EXCHANGE, INC. | Beneficial Owner of more than 10% of a Class of Security | — | 2025-12-03 00:00:00 | I |
| 3 | 9000 | — | — | Stock Award(Grant) at price 0.00 per share. | ALFRED MICHAEL | Director | — | 2025-11-19 00:00:00 | D |
| 4 | 803861 | nan | — | — | NAHETA AKSHAY SUDHIR | Chief Executive Officer | — | 2025-11-14 00:00:00 | D |
| 5 | 264 | 5415.0 | — | Sale at price 18.75 - 21.50 per share. | HENDERSON JOSEPH SEAN-WALSH | Officer | — | 2025-11-12 00:00:00 | D |
| 6 | 1677 | 16770.0 | — | Conversion of Exercise of derivative security at price 10.00 per share. | D'ANNUNZIO MARC | General Counsel | — | 2025-11-12 00:00:00 | D |
| 7 | 335 | 3350.0 | — | Conversion of Exercise of derivative security at price 10.00 per share. | ALEXANDER KAREN | Chief Financial Officer | — | 2025-11-12 00:00:00 | D |
| 8 | 671 | 6710.0 | — | Conversion of Exercise of derivative security at price 10.00 per share. | BAES NICHOLAS | Chief Operating Officer | — | 2025-11-12 00:00:00 | D |
| 9 | 33557 | 335570.0 | — | Conversion of Exercise of derivative security at price 10.00 per share. | NAHETA AKSHAY SUDHIR | Chief Executive Officer | — | 2025-11-12 00:00:00 | D |
Financials
| Line Item | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| TaxEffectOfUnusualItems | -5.54M | -21.26M | -10.32M | -25.45M |
| TaxRateForCalcs | 0.21 | 0.21 | 0.01 | 0.27 |
| NormalizedEBITDA | -56.97M | -13.04M | 1.67B | -40.50M |
| TotalUnusualItems | -26.40M | -101.24M | -1.82B | -94.25M |
| TotalUnusualItemsExcludingGoodwill | -26.40M | -101.24M | -1.82B | -94.25M |
| NetIncomeFromContinuingOperationNetMinorityInterest | -46.66M | -74.85M | -578.11M | -133.55M |
| ReconciledDepreciation | 343.00K | 13.93M | 25.35M | 14.42M |
| ReconciledCostOfRevenue | 3.40B | 718.51M | 1.66M | |
| EBITDA | -83.36M | -114.29M | -151.97M | -134.75M |
| EBIT | -83.70M | -128.22M | -177.32M | -149.27M |
| NetInterestIncome | 4.32M | 4.34M | 1.88M | -228.00K |
| NormalizedIncome | -25.81M | 5.13M | 1.24B | -64.75M |
| NetIncomeFromContinuingAndDiscontinuedOperation | -46.66M | -74.85M | -578.11M | -133.55M |
| TotalExpenses | 3.57B | 908.36M | 233.54M | 186.52M |
| TotalOperatingIncomeAsReported | -92.92M | -227.89M | -2.02B | -164.14M |
| DilutedAverageShares | 5.86M | 3.56M | 2.85M | 2.29M |
| BasicAverageShares | 5.86M | 3.56M | 2.85M | 2.29M |
| DilutedEPS | -7.97 | -21.01 | -203.08 | -106.12 |
| BasicEPS | -7.97 | -21.01 | -203.08 | -106.12 |
| DilutedNIAvailtoComStockholders | -46.66M | -74.85M | -578.11M | -133.55M |
| AverageDilutionEarnings | 0.00 | 0.00 | 0.00 | |
| NetIncomeCommonStockholders | -46.66M | -74.85M | -578.11M | -133.55M |
| NetIncome | -46.66M | -74.85M | -578.11M | -133.55M |
| MinorityInterests | 56.79M | 150.96M | 1.41B | |
| NetIncomeIncludingNoncontrollingInterests | -103.45M | -225.81M | -1.99B | -254.38M |
| NetIncomeContinuousOperations | -103.45M | -225.81M | -1.99B | -254.38M |
| TaxProvision | 170.00K | 444.00K | -11.32M | 11.95M |
| PretaxIncome | -103.28M | -225.37M | -2.00B | -242.44M |
| OtherIncomeExpense | -23.89M | -101.49M | -1.83B | -92.94M |
| OtherNonOperatingIncomeExpenses | 2.51M | -245.00K | -856.00K | 1.30M |
| SpecialIncomeCharges | -9.21M | -99.67M | -1.84B | -14.87M |
| ImpairmentOfCapitalAssets | 889.00K | 90.76M | 1.83B | 1.20M |
| RestructuringAndMergernAcquisition | 8.32M | 8.91M | 8.01M | 13.68M |
| GainOnSaleOfSecurity | -17.19M | -1.57M | 16.64M | |
| NetNonOperatingInterestIncomeExpense | 4.32M | 4.34M | 1.88M | -228.00K |
| TotalOtherFinanceCost | -4.32M | -4.34M | -1.88M | 228.00K |
| OperatingIncome | -83.70M | -128.22M | -177.32M | -149.27M |
| OperatingExpense | 170.72M | 189.84M | 231.89M | 186.52M |
| OtherOperatingExpenses | 26.14M | 9.27M | 3.51M | 3.47M |
| DepreciationAmortizationDepletionIncomeStatement | 343.00K | 13.93M | 25.35M | 14.52M |
| DepreciationAndAmortizationInIncomeStatement | 343.00K | 13.93M | 25.35M | 14.52M |
| SellingGeneralAndAdministration | 144.24M | 166.65M | 203.03M | 168.54M |
| GeneralAndAdministrativeExpense | 144.24M | 166.65M | 203.03M | 168.54M |
| OtherGandA | 61.07M | 64.60M | 63.98M | 48.98M |
| SalariesAndWages | 83.16M | 102.04M | 139.05M | 119.56M |
| GrossProfit | 87.01M | 61.62M | 54.57M | |
| CostOfRevenue | 3.40B | 718.51M | 1.66M | |
| TotalRevenue | 3.49B | 780.14M | 56.22M | 37.25M |
| OperatingRevenue | 3.49B | 780.14M | 56.22M | 37.25M |
| Line Item | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| OrdinarySharesNumber | 6.51M | 3.79M | 3.24M | 2.29M |
| ShareIssued | 6.51M | 3.79M | 3.24M | 2.29M |
| TotalDebt | 23.54M | 27.16M | 26.42M | 11.26M |
| TangibleBookValue | -37.01M | -22.62M | 24.58M | -1.45B |
| InvestedCapital | 33.89M | 48.28M | 96.26M | 468.40M |
| WorkingCapital | 46.13M | 80.57M | 234.34M | 389.94M |
| NetTangibleAssets | -37.01M | -22.62M | 24.58M | -1.45B |
| CapitalLeaseObligations | 23.54M | 27.16M | 26.42M | 11.26M |
| CommonStockEquity | 33.89M | 48.28M | 96.26M | 468.40M |
| TotalCapitalization | 33.89M | 48.28M | 96.26M | 468.40M |
| TotalEquityGrossMinorityInterest | 62.85M | 135.71M | 336.07M | 2.29B |
| MinorityInterest | 28.96M | 87.43M | 239.81M | 1.83B |
| StockholdersEquity | 33.89M | 48.28M | 96.26M | 468.40M |
| GainsLossesNotAffectingRetainedEarnings | -841.00K | -101.00K | -290.00K | -55.00K |
| OtherEquityAdjustments | -841.00K | -101.00K | -290.00K | -55.00K |
| RetainedEarnings | -797.96M | -751.30M | -676.45M | -98.34M |
| AdditionalPaidInCapital | 832.69M | 799.68M | 772.97M | 566.77M |
| CapitalStock | 2.00K | 1.00K | 27.00K | 27.00K |
| CommonStock | 2.00K | 1.00K | 27.00K | 27.00K |
| TotalLiabilitiesNetMinorityInterest | 206.52M | 129.60M | 119.43M | 120.11M |
| TotalNonCurrentLiabilitiesNetMinorityInterest | 68.81M | 29.08M | 27.30M | 46.51M |
| OtherNonCurrentLiabilities | 2.03M | |||
| DerivativeProductLiabilities | 46.92M | 2.36M | 785.00K | 17.42M |
| EmployeeBenefits | 0.00 | 2.03M | ||
| NonCurrentDeferredLiabilities | 2.62M | 3.20M | 3.11M | 16.41M |
| NonCurrentDeferredRevenue | 2.62M | 3.20M | 3.11M | 4.82M |
| NonCurrentDeferredTaxesLiabilities | 0.00 | 11.59M | ||
| LongTermDebtAndCapitalLeaseObligation | 19.26M | 23.52M | 23.40M | 10.65M |
| LongTermCapitalLeaseObligation | 19.26M | 23.52M | 23.40M | 10.65M |
| CurrentLiabilities | 137.72M | 100.52M | 92.13M | 73.60M |
| OtherCurrentLiabilities | 998.00K | 1.07M | 16.32M | 1.07M |
| CurrentDeferredLiabilities | 1.60M | 4.28M | 3.97M | 4.63M |
| CurrentDeferredRevenue | 1.60M | 4.28M | 3.97M | 4.63M |
| CurrentDebtAndCapitalLeaseObligation | 4.28M | 3.64M | 3.01M | 615.00K |
| CurrentCapitalLeaseObligation | 4.28M | 3.64M | 3.01M | 615.00K |
| PensionandOtherPostRetirementBenefitPlansCurrent | 0.00 | 275.00K | 2.03M | |
| PayablesAndAccruedExpenses | 130.84M | 91.53M | 68.55M | 65.26M |
| CurrentAccruedExpenses | 17.14M | 16.59M | 16.16M | 22.40M |
| Payables | 113.70M | 74.94M | 52.39M | 42.86M |
| OtherPayable | 98.55M | 51.88M | 25.25M | 31.60M |
| DuetoRelatedPartiesCurrent | 2.36M | 3.23M | 1.17M | 617.00K |
| AccountsPayable | 12.78M | 19.83M | 25.98M | 10.65M |
| TotalAssets | 269.38M | 265.31M | 455.50M | 2.41B |
| TotalNonCurrentAssets | 85.53M | 84.22M | 129.04M | 1.95B |
| OtherNonCurrentAssets | 2.83M | 1.81M | 2.83M | 2.64M |
| NonCurrentPrepaidAssets | 159.00K | 15.15M | 15.15M | |
| GoodwillAndOtherIntangibleAssets | 70.90M | 70.90M | 71.69M | 1.92B |
| OtherIntangibleAssets | 2.90M | 2.90M | 55.83M | 388.47M |
| Goodwill | 68.00M | 68.00M | 15.85M | 1.53B |
| NetPPE | 11.80M | 11.52M | 39.38M | 17.36M |
| AccumulatedDepreciation | -996.00K | -740.00K | -1.88M | -733.00K |
| GrossPPE | 12.79M | 12.26M | 41.25M | 18.09M |
| Leases | 276.00K | 0.00 | 10.10M | 277.00K |
| OtherProperties | 9.73M | 11.46M | 19.63M | 11.24M |
| MachineryFurnitureEquipment | 2.78M | 800.00K | 11.52M | 6.58M |
| Properties | 0.00 | 0.00 | 0.00 | 0.00 |
| CurrentAssets | 183.84M | 181.09M | 326.46M | 463.55M |
| OtherCurrentAssets | 152.00K | 25.00K | 15.79M | 4.78M |
| RestrictedCash | 113.45M | 64.76M | 17.09M | 17.05M |
| PrepaidAssets | 6.54M | 16.36M | 28.88M | 32.21M |
| Receivables | 24.65M | 29.66M | 25.31M | 18.14M |
| ReceivablesAdjustmentsAllowances | -210.00K | -210.00K | ||
| OtherReceivables | 9.23M | 6.95M | ||
| AccountsReceivable | 24.65M | 29.66M | 25.31M | 11.40M |
| CashCashEquivalentsAndShortTermInvestments | 39.05M | 70.28M | 239.39M | 391.36M |
| OtherShortTermInvestments | 0.00 | 17.40M | 141.06M | 0.00 |
| CashAndCashEquivalents | 39.05M | 52.88M | 98.33M | 391.36M |
| Line Item | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| FreeCashFlow | -24.29M | -70.13M | -148.14M | -141.62M |
| RepurchaseOfCapitalStock | -2.63M | -2.59M | -84.53M | |
| RepaymentOfDebt | 0.00 | -501.00K | ||
| IssuanceOfCapitalStock | 46.51M | 0.00 | 0.00 | 312.00M |
| CapitalExpenditure | -3.09M | -9.43M | -30.54M | -14.45M |
| IncomeTaxPaidSupplementalData | 0.00 | 239.00K | 0.00 | 0.00 |
| EndCashPosition | 153.75M | 118.50M | 115.42M | 408.42M |
| BeginningCashPosition | 118.50M | 115.42M | 408.42M | 91.94M |
| EffectOfExchangeRateChanges | -1.50M | 436.00K | -850.00K | -326.00K |
| ChangesInCash | 36.75M | 2.64M | -292.14M | 147.84M |
| FinancingCashFlow | 43.82M | -2.63M | -2.58M | 256.83M |
| CashFlowFromContinuingFinancingActivities | 43.82M | -2.63M | -2.58M | 256.83M |
| NetOtherFinancingCharges | -2.69M | -2.63M | -2.59M | |
| ProceedsFromStockOptionExercised | 3.00K | 0.00 | 2.00K | 37.12M |
| NetCommonStockIssuance | 46.51M | 0.00 | 0.00 | 227.47M |
| CommonStockPayments | -2.63M | -2.59M | -84.53M | |
| CommonStockIssuance | 46.51M | 0.00 | 0.00 | 312.00M |
| NetIssuancePaymentsOfDebt | 0.00 | -501.00K | ||
| NetLongTermDebtIssuance | 0.00 | -501.00K | ||
| LongTermDebtPayments | 0.00 | -501.00K | ||
| InvestingCashFlow | 14.13M | 65.97M | -171.96M | 18.17M |
| CashFlowFromContinuingInvestingActivities | 14.13M | 65.97M | -171.96M | 18.17M |
| NetInvestmentPurchaseAndSale | 17.22M | 123.94M | -141.42M | 0.00 |
| SaleOfInvestment | 35.19M | 185.76M | 165.18M | 0.00 |
| PurchaseOfInvestment | -17.97M | -61.83M | -306.59M | 0.00 |
| NetBusinessPurchaseAndSale | 0.00 | -48.53M | 0.00 | 32.60M |
| SaleOfBusiness | 0.00 | 32.60M | ||
| PurchaseOfBusiness | 0.00 | -48.53M | 0.00 | |
| NetIntangiblesPurchaseAndSale | -15.69M | |||
| PurchaseOfIntangibles | -15.69M | |||
| CapitalExpenditureReported | -3.09M | -9.43M | -30.54M | -14.45M |
| OperatingCashFlow | -21.20M | -60.70M | -117.60M | -127.16M |
| CashFlowFromContinuingOperatingActivities | -21.20M | -60.70M | -117.60M | -127.16M |
| ChangeInWorkingCapital | 46.32M | 41.90M | 2.91M | -31.65M |
| ChangeInOtherWorkingCapital | -3.68M | 3.79M | -4.80M | -8.30M |
| ChangeInOtherCurrentLiabilities | -3.64M | -3.03M | 4.15M | -811.00K |
| ChangeInPayablesAndAccruedExpense | 39.15M | 26.41M | 1.33M | -7.61M |
| ChangeInPayable | 39.15M | 26.41M | 1.33M | -7.61M |
| ChangeInAccountPayable | -15.62M | -7.99M | 744.00K | -6.77M |
| ChangeInPrepaidAssets | 9.08M | 24.76M | 9.38M | -10.92M |
| ChangeInReceivables | 5.41M | -10.04M | -7.16M | -4.00M |
| ChangesInAccountReceivables | 5.41M | -10.04M | -7.16M | -4.00M |
| OtherNonCashItems | 1.67M | 112.00K | 2.78M | 3.06M |
| StockBasedCompensation | 15.84M | 16.76M | 32.11M | 49.03M |
| UnrealizedGainLossOnInvestmentSecurities | 0.00 | |||
| AssetImpairmentCharge | 889.00K | 90.76M | 1.83B | 1.20M |
| DeferredTax | 0.00 | 0.00 | -11.59M | 11.73M |
| DeferredIncomeTax | 0.00 | 0.00 | -11.59M | 11.73M |
| DepreciationAmortizationDepletion | 343.00K | 13.93M | 25.35M | 14.42M |
| DepreciationAndAmortization | 343.00K | 13.93M | 25.35M | 14.42M |
| OperatingGainsLosses | 17.19M | 1.65M | -12.80M | 79.44M |
| GainLossOnInvestmentSecurities | 17.19M | 1.57M | -16.64M | 79.44M |
| NetIncomeFromContinuingOperations | -103.45M | -225.81M | -1.99B | -254.38M |
SEC Filings
Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.
Public Trades for BKKT
| Date | User | Broker | Pattern | Type | Position Size | Entry Price | Trade P&L | Status |
|---|