Bakkt Holdings Inc
For the period ended Mar 31, 2025. Filed May 12, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 12, 2025
BKKT$4.30+3.1%Stored close · as of Nov 6, 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)
| Three Months EndedMarch 31, 2025 | Three Months EndedMarch 31, 2024 | |
|---|---|---|
| Revenues: | ||
| Crypto services | $1,065,756 | $841,340 |
| Loyalty services, net | 9,154 | 13,242 |
| Total revenues | 1,074,910 | 854,582 |
| Operating expenses: | ||
| Crypto costs | 1,054,635 | 831,972 |
| Execution, clearing and brokerage fees | 7,693 | 5,630 |
| Compensation and benefits | 17,819 | 24,531 |
| Professional services | 5,192 | 3,635 |
| Technology and communication | 3,568 | 5,922 |
| Selling, general and administrative | 3,829 | 7,811 |
| Depreciation and amortization | 220 | 57 |
| Impairment of long-lived assets | — | 288 |
| Restructuring expenses | 228 | 6,140 |
| Other operating expenses | 246 | 433 |
| Total operating expenses | 1,093,430 | 886,419 |
| Operating loss | (18,520) | (31,837) |
| Interest income, net | 622 | 956 |
| Gain from change in fair value of warrant liability | 32,247 | 9,046 |
| Other income, net | 1,939 | 716 |
| Income (loss) before income taxes | 16,288 | (21,119) |
| Income tax expense | (49) | (156) |
| Net income (loss) | 16,239 | (21,275) |
| Less: Net income (loss) attributable to noncontrolling interest | 8,529 | (13,110) |
| Net income (loss) attributable to Bakkt Holdings, Inc. | $7,710 | $(8,165) |
| Net earnings (loss) per share attributable to Class A Common Stockholders: | ||
| Basic | $1.18 | $(1.86) |
| Diluted | $1.13 | $(1.86) |
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