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Bakkt, Inc.

BKKT

$8.79 ▼ -0.94 (-9.66%) at close

23 Visible periods

27 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Poor

Bearish

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Analytical Summary

Bakkt, Inc. faces fundamental challenges with weakness in Return on Common Equity (%) and Profit Margin (%). The fundamentals warrant careful consideration of downside risks.

Market Cap $362.0M

Dividend Yield —

Revenue Growth None

Op. Margin None

ROIC -5.5% ↗

FCF / Share $-0.36 ↗

Trailing P/E 4.5x

Price / Book 1.1x

FCF Yield —

Debt / Equity —

info Valuation on last close. End-of-day price, Sep 23, 2026.

23-Year Financial Trajectory

Quarterly

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$577.88M

↑ +13.3% —

Net Income Profit after all expenses

$80.84M

↑ +793.9% —

Operating Margin Operating profit as % of sales

-3.2%

↓ -85.7% 18th

FCF / Share Free cash flow per share

$-0.36

↑ +15.6% —

trending_up

Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Operating Margin (%)Operating Margin (%) is in the bottom quartile
Profit Margin (%)Profit Margin (%) is in the bottom quartile
Return on Common Equity (%)Return on Common Equity (%) is in the bottom quartile

Health Breakdown

Profitability ↑

Returns ↑

Cash Quality ↑

Financial view

Statement lens

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Cadence

Annual Quarterly

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📈 Is growth accelerating? 5 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2020 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2019 10-K ↗
Revenue Growth YoY (%)	—	—	—	—	13.3% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+122%)	25.8% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+330%)	983.3% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+16289%)	60.4% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+906%)	46.7% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+678%)	6480.8% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+107913%)	914.4% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+15140%)	1449.8% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+24063%)	2376.9% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+39515%)	3.6% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-40%)	484.4% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+7974%)	44.5% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+642%)	65.4% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+990%)	53.9% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+798%)	—	—	—	—	—
EPS Growth YoY (%)	N/M	N/M	-105.5% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-155.6% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	19.1% Good ↓ Good Declining Year-over-year change in earnings per share Optimal: > 10%	N/M	57.5% Excellent ↓ Excellent Declining Year-over-year change in earnings per share Optimal: > 10%	90.5% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	43.8% Excellent ↓ Excellent Declining Year-over-year change in earnings per share Optimal: > 10%	56.2% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	96.3% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	96.9% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-280.0% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	-41.7% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	—	—	—	—	—	—	—	—	—
Net Income Growth YoY (%)	N/M	N/M	-344.6% Weak ↓ Weak Declining Year-over-year change in net income	-415.7% Weak ↓ Weak Declining Year-over-year change in net income	10.3% Fair ↓ Fair Declining Year-over-year change in net income	N/M	28.2% Excellent ↓ Excellent Declining Year-over-year change in net income	83.3% Excellent ↑ Excellent Improving Year-over-year change in net income	2.5% Caution ↓ Caution Declining Year-over-year change in net income	41.6% Excellent ↑ Excellent Improving Year-over-year change in net income	73.0% Excellent ↑ Excellent Improving Year-over-year change in net income	96.3% Excellent ↑ Excellent Improving Year-over-year change in net income	-332.3% Weak ↑ Weak Improving Year-over-year change in net income	-96.1% Weak ↑ Weak Improving Year-over-year change in net income	N/M	-1522.8% Weak ↓ Weak Declining Year-over-year change in net income	87.8% Excellent Excellent Year-over-year change in net income	75.3% Excellent Excellent Year-over-year change in net income	—	—	—	—	—
FCF Growth YoY (%)	—	97.3% Excellent Excellent Year-over-year change in free cash flow	—	—	—	N/M	—	—	—	N/M	—	—	—	0.5% Caution Caution Year-over-year change in free cash flow	—	—	—	—	—	—	—	—	—
Revenue CAGR 3Y (%)	—	—	—	—	245.3% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	341.0% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	762.8% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	230.0% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	291.7% Excellent Excellent Compound annual revenue growth over 3 years	371.7% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—	—	—	—	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2020 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2019 10-K ↗
Operating Margin (%) (%)	—	—	—	—	-3.2% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-113%)	-1.7% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-107%)	-0.6% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-102%)	-8.3% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-133%)	-4.3% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-117%)	-3.7% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-115%)	-4.2% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-117%)	-25.8% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-203%)	-14.7% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-159%)	-350.0% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1500%)	—	—	-310.3% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1341%)	-386.9% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1648%)	—	-326.6% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1407%)	-369.1% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1577%)	-348.8% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1495%)	—
Effective Tax Rate (%) (%)	0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.1% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.2% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.1% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.2% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.3% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	1.8% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.2% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.7% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.7% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.4% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.3% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.8% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	15.6% Good ↑ Good Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	6.8% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	1.9% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.5% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.1% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—
Profit Margin (%) (%)	—	—	—	—	-2.5% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-112%)	0.7% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-97%)	-1.1% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-105%)	-0.9% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-104%)	-3.2% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-115%)	-1.0% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-104%)	-16.5% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-175%)	-8.5% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-138%)	-4.8% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-122%)	-107.6% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-589%)	—	—	-27.8% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-226%)	-56.9% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-359%)	—	-315.5% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1534%)	-375.8% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1808%)	-353.8% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1708%)	—
FCF Margin (%) (%)	—	—	—	—	—	-9.4% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	1.8% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—	—	4.5% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	-4.2% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—	—	-363.8% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-148.9% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-253.3% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-194.3% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-264.6% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	471.6% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	-274.7% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-208.4% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	-12.0% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	-0.18x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.04x Fair ↓ Fair Declining Free cash flow relative to reported net income Optimal: > 1x	0.13x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	3.13x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	—	-13.14x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	-1.64x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—	-4.70x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	0.25x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—	3.38x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	0.24x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.07x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	7.00x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	4.65x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.29x Good ↑ Good Improving Free cash flow relative to reported net income Optimal: > 1x	0.87x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.55x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	0.03x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2020 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2019 10-K ↗
Return on Invested Capital (%)	-5.5% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-9.9% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-80.5% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-22.1% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-52.5% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-41.9% Weak → Weak Stable Return earned on debt + equity capital invested Optimal: > 10%	-29.5% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-53.3% Weak → Weak Stable Return earned on debt + equity capital invested Optimal: > 10%	-46.2% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-56.3% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	—	-76.6% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-61.2% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	-50.9% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—	—	—	—	—	—	—	—	—
Return on Capital (%) (%)	-4.9% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-7.9% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-55.9% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-9.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-9.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-10.5% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-3.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-2.3% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-1.8% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-2.0% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	—	-6.2% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-5.0% Weak Weak Operating profit relative to total assets Optimal: > 10%	-11.0% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—	—	—	2.2% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—	—	—
Return on Common Equity (%) (%)	22.8% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+90%)	-6.8% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-157%)	-75.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-730%)	-13.0% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-209%)	-41.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-448%)	17.5% Good ↑ Good Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+46%)	-56.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-572%)	-5.7% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-148%)	-34.4% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-386%)	-14.3% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-219%)	—	-25.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-308%)	-20.1% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-268%)	-15.7% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-230%)	—	—	—	—	—	—	—	—	—

⚖️ Is the balance sheet risky? 2 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2020 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2019 10-K ↗
Interest Coverage (x)	—	—	—	-505.26x Weak Weak Operating income divided by interest expense Optimal: > 5x	-348.85x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-311.06x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-333.24x Weak Weak Operating income divided by interest expense Optimal: > 5x	-579.80x Weak Weak Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$-49.98M	$-79.98M	$-26.96M	$-58.32M	$-43.49M	$-23.01M	$-39.05M	$-28.98M	$-47.50M	$-56.60M	$-52.88M	$-68.22M	$-84.52M	$-50.83M	$-98.33M	—	—	—	$-75.36M	$-22.11M	$-50.11M	$-70.25M	—

📊 What does each share earn? 6 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2020 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2019 10-K ↗
Revenue per Share (USD)	—	—	—	—	$84.66	$164.56	—	$51.62	$82.75	$194.38	—	$56.04	$96.74	$3.96	—	$4.31	$4.93	$5.48	—	—	—	—	—
Basic EPS, GAAP (USD)	$1.96	$-0.41	$-6.37	$-1.15	$-2.16	$1.18	$-3.10	$-0.45	$-2.67	$-1.86	$-7.29	$-4.75	$-4.75	$-4.25	$-196.08	$-152.75	$-1.25	$-3.00	—	—	—	—	—
Free Cash Flow per Share (USD)	$-0.36	$-0.43	—	$-3.58	—	$-15.51	—	—	—	$8.72	—	—	—	$-14.42	—	$-10.93	$-9.57	$-14.50	—	—	—	—	—
Book Value per Share (USD)	$7.86	$5.56	—	$8.79	$5.17	$6.75	—	$7.93	$7.76	$12.96	—	$18.97	$23.32	$27.26	—	—	—	—	—	—	—	—	—
Tangible Book Value per Share (USD)	$3.88	$3.28	—	$3.40	$-4.73	$-4.11	—	$-3.21	$-3.75	$-3.17	—	$-10.65	$-14.12	$5.80	—	—	—	—	—	—	—	—	—
Basic Weighted Avg Shares (shares)	41.18M	28.38M	—	13.02M	6.83M	6.53M	—	6.36M	6.16M	4.40M	—	3.65M	3.59M	3.28M	—	3.06M	2.85M	2.29M	—	—	—	—	—

🏦 How resilient is the balance sheet? 2 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2020 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2019 10-K ↗
Working Capital (USD)	$66.38M	$94.72M	$39.17M	$66.70M	$17.27M	$34.08M	$46.13M	$55.85M	$80.02M	$92.05M	—	$100.60M	$108.24M	$197.98M	—	—	—	—	$80.99M	—	—	—	—
Total Equity (USD)	$354.39M	$170.88M	$112.78M	$114.39M	$35.29M	$44.06M	$33.89M	$50.47M	$47.79M	$56.98M	—	$69.33M	$83.80M	$89.28M	—	—	—	—	—	—	—	—	—

📋 What is driving earnings? 4 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2020 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2019 10-K ↗
Sales/Revenue/Turnover (USD)	—	—	—	—	$577.88M	$1.07B	$1.75B	$328.42M	$509.90M	$854.58M	$161.37M	$204.77M	$347.63M	$12.99M	$15.91M	$13.21M	$14.04M	$12.53M	$2.72M	$9.14M	$8.49M	$8.14M	—
Depreciation Expense (USD)	$1.05M	$66.00K	$80.00K	$153.00K	$200.00K	$220.00K	$62.00K	$100.00K	$100.00K	$57.00K	$3.09M	$1.40M	$1.30M	$3.06M	$7.01M	$6.39M	$6.10M	$5.85M	$-1.02M	$3.24M	$3.00M	$2.76M	—
Net Income, GAAP (USD)	$80.84M	$-11.65M	$-85.27M	$-14.92M	$-14.73M	$7.71M	$-19.18M	$-2.89M	$-16.42M	$-8.16M	$-26.70M	$-17.33M	$-16.85M	$-13.98M	$-98.95M	$-468.13M	$-3.90M	$-7.13M	$9.95M	$-28.85M	$-31.89M	$-28.82M	—
Operating Cash Flow (USD)	$-14.82M	$-12.09M	$-10.81M	$-46.66M	—	$-101.28M	$31.40M	—	—	$38.35M	$-6.81M	—	—	$-47.24M	$-23.69M	$-33.48M	$-27.27M	$-33.16M	$12.84M	$-25.11M	$-17.69M	$-974.00K	—

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Synced yesterday 6 years · 23 quarters

Bakkt, Inc.

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