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Bakkt BKKT Free cash flow margin

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Other financials

Income statement

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Revenue$577.9M+13.3%
Operating income-$16.9M-9.6%
Net income-$11.7M-251%
EPS (diluted)-$0.41-136%

Balance sheet

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Cash & equivalents$80.0M+248%
Total debt$79.0K
Total equity$170.9M+288%
Total assets$213.4M+21.0%

Cash flow

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Operating cash flow-$12.1M+88.1%
CapEx$19.0K-95.9%
Free cash flow-$101.4M-377%

Valuation

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Market cap$336.64M+120%
Enterprise value$256.74M+91.5%

Profitability

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Operating margin-1.9%-0.8pp
Net margin-0.8%-0.3pp

Returns & leverage

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Return on equity-117.8%+1,634pp
Debt / equity
Current ratio4.1×+2.5×

Where this comes from

Calculated from Bakkt’s reported figures.

Based on trailing twelve months.

The source filing: Bakkt’s 10-Q, filed November 12, 2025. Open the filing →

Filed
Nov 12, 2025
Fiscal quarter
Q3 FY2025
Calendar quarter
Q3 2025
Accession
0001628280-25-051180

FAQ

What is Bakkt's free cash flow margin?
Bakkt (BKKT) reported free cash flow margin of -3.4% in Q3 2024.
What is the long-term trend for Bakkt's free cash flow margin?
Over 2 years (2020 to 2022), Bakkt's free cash flow margin has grown at a 21.3% compound annual growth rate (CAGR), from -180.8% to -266%.
What does free cash flow margin mean?
Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.

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