Bakkt Holdings, Inc.
For the period ended Sep 30, 2025. Filed Nov 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.
Sep 30, 2025 · Filed Nov 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 Balance Sheets
(in thousands, except share data)
| As of September 30, 2025(Unaudited) | As ofDecember 31, 2024 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $58,319 | $39,049 |
| Restricted cash | 6,117 | 24,889 |
| Customer funds | 11,061 | 88,566 |
| Available-for-sale securities | 5,094 | — |
| Accounts receivable, net | 12,558 | 7,683 |
| Prepaid insurance | 3,960 | 3,971 |
| Assets of businesses held for sale | 20,879 | 17,519 |
| Other current assets | 2,487 | 2,168 |
| Total current assets | 120,475 | 183,845 |
| Property, equipment and software, net | 1,532 | 2,064 |
| Goodwill | 64,658 | 68,001 |
| Intangible assets | 5,550 | 2,900 |
| Equity method investment | 11,472 | — |
| Derivative asset | 43,350 | — |
| Non-current assets held for sale | 3,576 | 2,165 |
| Other assets | 7,649 | 10,403 |
| Total assets | $258,262 | $269,378 |
| Liabilities and Equity | ||
| Current liabilities: | ||
| Accounts payable and accrued liabilities | $18,009 | $14,260 |
| Customer funds payable | 11,061 | 88,566 |
| Deferred revenue, current | 789 | — |
| Due to related party | — | 2,360 |
| Liabilities of businesses held for sale | 20,852 | 33,907 |
| Other current liabilities | 3,064 | 4,752 |
| Total current liabilities | 53,775 | 143,845 |
| Warrant liability | 60,748 | 46,923 |
| Noncurrent liabilities held for sale | 4,968 | — |
| Other noncurrent liabilities | 10,207 | 15,757 |
| Total liabilities | 129,698 | 206,525 |
| Commitments and contingencies (Note 15) | ||
| Class A Common Stock ($0.0001 par value, 560,000,000 shares authorized, 16,466,495 shares issued and outstanding as of September 30, 2025 and 6,510,885 shares issued and outstanding as of December 31, 2024) | 2 | 1 |
| Class V Common Stock ($0.0001 par value, 10,000,000 shares authorized, 7,174,575 shares issued and outstanding as of September 30, 2025 and 7,178,303 shares issued and outstanding as of December 31, 2024) | 1 | 1 |
| Additional paid-in capital | 934,896 | 832,693 |
| Accumulated other comprehensive loss | (603) | (841) |
| Accumulated deficit | (819,902) | (797,960) |
| Total Bakkt Holdings, Inc. stockholders' equity | 114,394 | 33,894 |
| Noncontrolling interest | 14,170 | 28,959 |
| Total equity | 128,564 | 62,853 |
| Total liabilities and equity | $258,262 | $269,378 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.