Bakkt annual free cash flow
2020
2022
2023
2024
2025
Bakkt Free Cash Flow (FCF) History (BKKT)
Bakkt reported −$154.6M in free cash flow for fiscal 2025, a decrease of $130.3M from the previous fiscal year, with a free cash flow margin of −6.62%.
View full Bakkt company overviewBakkt free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | −$154.6M | −$130.3M | — | −6.62% |
| 2024 | 2024-12-31 | −$24.3M | $45.8M | — | −0.71% |
| 2023 | 2023-12-31 | −$70.1M | $78.0M | — | −9.65% |
| 2022 | 2022-12-31 | −$148.1M | −$96.6M | — | −263.48% |
| 2020 | 2020-12-31 | −$51.5M | — | — | −180.77% |
Bakkt quarterly free cash flow
Q1.21
Q2.21
Q3.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2025 | 2025-06-30 | $5.3M | $71.7M | — | +0.92% |
| Q1 2025 | 2025-03-31 | −$101.4M | −$138.0M | — | −9.43% |
| Q4 2024 | 2024-12-31 | $31.1M | $39.4M | — | +1.78% |
| Q3 2024 | 2024-09-30 | −$25.6M | −$48.3M | — | −7.80% |
| Q2 2024 | 2024-06-30 | −$66.4M | −$32.8M | — | −13.01% |
| Q1 2024 | 2024-03-31 | $36.6M | $87.5M | — | +4.28% |
| Q4 2023 | 2023-12-31 | −$8.3M | $23.4M | — | −5.16% |
| Q3 2023 | 2023-09-30 | $22.7M | $64.0M | — | +11.10% |
| Q2 2023 | 2023-06-30 | −$33.6M | $5.3M | — | −9.66% |
| Q1 2023 | 2023-03-31 | −$51.0M | −$14.7M | — | −385.51% |
| Q4 2022 | 2022-12-31 | −$31.7M | −$4.0M | — | −192.79% |
| Q3 2022 | 2022-09-30 | −$41.2M | −$19.4M | — | −312.15% |
| Q2 2022 | 2022-06-30 | −$38.9M | −$33.9M | — | −277.27% |
| Q1 2022 | 2022-03-31 | −$36.3M | — | — | −289.48% |
| Q3 2021 | 2021-09-30 | −$27.7M | — | — | −303.43% |
| Q2 2021 | 2021-06-30 | −$21.9M | — | — | −257.87% |
| Q1 2021 | 2021-03-31 | −$5.0M | — | — | −61.73% |
Bakkt free cash flow growth trends
Bakkt's latest reported quarter, Q2 2025, generated $5.3M in free cash flow, an increase of $71.7M year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Bakkt filings at SEC.gov ↗