Bakkt (BKKT)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from BKKT's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Bakkt's 10-K filings. Ten years of the full income statement, balance sheet and cash flow.
| Fiscal year | 2020 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $28M | $56M | $727M | $3.4B | $2.3B |
| Net income | -$80M | -$578M | -$75M | -$47M | -$107M |
| Free cash flow | -$52M | -$148M | -$70M | -$24M | — |
| EPS (diluted) | — | -$203.08 | -$21.01 | -$7.97 | -$8.87 |
| Operating margin | -277.7% | -3590.8% | -21.5% | -2.4% | -6.3% |
Where the revenue comes from
Revenue by products, fiscal 2025. Every breakdown, year by year.
Superinvestors who own BKKT
From each investor's latest 13F filing (what a 13F shows). 2 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Murray Stahl Horizon Kinetics LLC |
Trimmed | $2M | 0.02% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Trimmed | $1M | 0.0% | Q2 2026 |
Insider buying
Open-market purchases by Bakkt's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
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In the full deep dive
Questions
Are Bakkt insiders buying the stock?
No open-market insider purchases of BKKT in the last 12 months, according to SEC Form 4 filings.
Which superinvestors own Bakkt?
2 of the superinvestors Investingly tracks hold BKKT in their latest 13F, including Murray Stahl, Cliff Asness.
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Prices and ratios as of Oct 11, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.