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Bakkt BKKT Crypto costs

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Segments

By segment

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Reportable Segment$239.97M-77.2%

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$342.01M+120%
Enterprise value$262.1M+91.5%

Profitability

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Operating margin-1.9%-0.8pp
Net margin-0.8%-0.3pp
FCF margin-3.4%

Returns & leverage

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

Where this comes from

Reported directly by Bakkt in its filing.

Tagged under the XBRL concept bakkt:CryptoCosts.

The source filing: Bakkt’s 10-Q, filed May 11, 2026.

Filed
May 11, 2026, 4:33 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001628280-26-033576
Line itemThree Months Ended March 31, 2026Three Months Ended March 31, 2025
Crypto services revenue$243,593$1,065,756
Operating expenses:
Crypto costs239,9701,054,635
Execution, clearing and brokerage fees1,9807,693
Compensation and benefits6,6027,787
Professional services7,7455,170
Technology and communication1,7871,956
Selling, general and administrative2,3623,496

Item 1. Consolidated Financial Statements (Unaudited).

FAQ

What is Bakkt's crypto costs?
Bakkt (BKKT) reported crypto costs of $239.97M in Q1 2026.
How has Bakkt's crypto costs changed year-over-year?
Bakkt's crypto costs decreased by 77.2% year-over-year, from $1.05B to $239.97M.
What is the long-term trend for Bakkt's crypto costs?
Over 3 years (2022 to 2025), Bakkt's crypto costs has grown at a 1016.9% compound annual growth rate (CAGR), from $1.66M to $2.31B.
What does crypto costs mean?
Represents the direct costs incurred to acquire or facilitate the transfer of digital assets on behalf of customers. This reflects the cost of goods sold for crypto-related transactions and is a primary driver of revenue for digital asset platforms.

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