Bakkt, Inc.
For the period ended Dec 31, 2024. Filed Mar 20, 2025.
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FY2024 · Filed Mar 20, 2025
BKKT$4.65+8.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
(in thousands, except per share data)
| Year Ended December 31, 2024 | Year Ended December 31, 2023 | Year Ended December 31, 2022 | |
|---|---|---|---|
| Revenues: | |||
| Crypto services | $3,441,056 | $726,988 | $1,745 |
| Loyalty services, net | 49,164 | 53,148 | 54,479 |
| Total revenues | 3,490,220 | 780,136 | 56,224 |
| Operating expenses: | |||
| Crypto costs (See Note 2) | 3,403,207 | 718,511 | 1,657 |
| Execution, clearing and brokerage fees | 24,024 | 3,772 | — |
| Compensation and benefits | 83,164 | 102,042 | 139,049 |
| Professional services | 16,804 | 10,382 | 11,483 |
| Technology and communication | 17,714 | 20,837 | 17,079 |
| Selling, general and administrative | 26,553 | 33,385 | 35,414 |
| Acquisition-related expenses | 128 | 4,299 | 5,675 |
| Depreciation and amortization | 343 | 13,932 | 25,350 |
| Related party expenses | 600 | 3,902 | 1,168 |
| Goodwill and intangible assets impairments | — | 60,499 | 1,822,089 |
| Impairment of long-lived assets | 889 | 30,265 | 11,494 |
| Restructuring expenses | 8,194 | 4,608 | 2,336 |
| Other operating expenses | 1,516 | 1,592 | 2,343 |
| Total operating expenses | 3,583,136 | 1,008,026 | 2,075,137 |
| Operating loss | (92,916) | (227,890) | (2,018,913) |
| Interest income, net | 4,318 | 4,338 | 1,877 |
| (Loss) gain from change in fair value of warrant liability | (17,186) | (1,571) | 16,638 |
| Other income (expense), net | 2,507 | (245) | (856) |
| Loss before income taxes | (103,277) | (225,368) | (2,001,254) |
| Income tax (expense) benefit | (170) | (444) | 11,320 |
| Net loss | (103,447) | (225,812) | (1,989,934) |
| Less: Net loss attributable to noncontrolling interest | (56,788) | (150,958) | (1,411,829) |
| Net loss attributable to Bakkt Holdings, Inc. | $(46,659) | $(74,854) | $(578,105) |
| Net loss per share attributable to Class A common stockholders: | |||
| Basic | $(7.97) | $(21.01) | $(203.08) |
| Diluted | $(7.97) | $(21.01) | $(203.08) |
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