Bakkt, Inc.
For the period ended Mar 16, 2026. Filed Mar 17, 2026.
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Mar 16, 2026 · Filed Mar 17, 2026
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BKKT$4.30+3.1%Stored close · as of Nov 6, 2026
Contents
EX-99.1 · (in thousands, except share data)
(in thousands, except share data)
| As of December 31, 2025 | As of December 31, 2024 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $26,962 | $39,049 |
| Restricted cash | 575 | 24,889 |
| Customer funds | 14,662 | 88,566 |
| Investments | 235 | — |
| Accounts receivable, net | 12,070 | 7,683 |
| Prepaid insurance | 2,749 | 3,971 |
| Assets of businesses held for sale | — | 17,519 |
| Other current assets | 14,947 | 2,168 |
| Total current assets | 72,200 | 183,845 |
| Property, equipment and software, net | 1,660 | 2,064 |
| Goodwill | 64,658 | 68,001 |
| Intangible assets | 5,550 | 2,900 |
| Equity method investment | 11,149 | — |
| Derivative asset | 3,352 | — |
| Noncurrent assets of businesses held for sale | — | 2,165 |
| Other assets | 4,219 | 10,402 |
| Total assets | $162,788 | $269,377 |
| Liabilities and stockholders’ equity | ||
| Current liabilities: | ||
| Accounts payable and accrued liabilities | $14,876 | $14,260 |
| Customer funds payable | 14,662 | 88,566 |
| Deferred revenue, current | 789 | — |
| Due to related party | — | 2,360 |
| Liabilities of businesses held for sale | — | 28,127 |
| Other current liabilities | 2,703 | 4,406 |
| Total current liabilities | 33,030 | 137,719 |
| Warrant liabilities | 16,732 | 46,923 |
| Noncurrent liabilities of businesses held for sale | — | 5,778 |
| Other noncurrent liabilities | 244 | 16,104 |
| Total liabilities | 50,006 | 206,524 |
| Commitments and contingencies (Note 16) | ||
| Stockholders’ equity: | ||
| Class A common stock ($0.0001 par value, 560,000,000 shares authorized, 25,523,039 and 6,510,885 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively) | 3 | 1 |
| Class V common stock ($0.0001 par value, 10,000,000 shares authorized, 0 and 7,178,303 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively) | — | 1 |
| Additional paid-in capital | 1,017,004 | 832,693 |
| Accumulated other comprehensive income (loss) | 947 | (841) |
| Accumulated deficit | (905,172) | (797,960) |
| Total stockholders' equity | 112,782 | 33,894 |
| Noncontrolling interest | — | 28,959 |
| Total equity | 112,782 | 62,853 |
| Total liabilities and stockholders’ equity | $162,788 | $269,377 |
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