Bakkt annual operating expenses
2020
2022
2023
2024
2025
Bakkt Operating Expenses Growth & History (BKKT)
Bakkt's operating expenses was $2.48B for fiscal 2025.
View full Bakkt company overviewBakkt annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $2.48B | −$1.04B | −29.53% |
| 2024 | 2024-12-31 | $3.52B | $2.64B | +298.95% |
| 2023 | 2023-12-31 | $883.2M | −$1.19B | −57.44% |
| 2022 | 2022-12-31 | $2.08B | — | — |
| 2020 | 2020-12-31 | $107.6M | — | — |
Bakkt quarterly operating expenses
Q3.20
Q1.21
Q2.21
Q3.21
Q4.21
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
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $189.8M | −$394.5M | −67.52% |
| Q1 2026 | 2026-03-31 | $260.5M | −$820.7M | −75.90% |
| Q4 2025 | 2025-12-31 | $390.2M | −$1.37B | −77.88% |
| Q3 2025 | 2025-09-30 | $427.5M | $86.0M | +25.19% |
| Q2 2025 | 2025-06-30 | $584.2M | $52.3M | +9.83% |
| Q1 2025 | 2025-03-31 | $1.08B | $194.8M | +21.97% |
| Q4 2024 | 2024-12-31 | $1.76B | $1.60B | +948.57% |
| Q3 2024 | 2024-09-30 | $341.5M | $83.8M | +32.54% |
| Q2 2024 | 2024-06-30 | $531.9M | $133.2M | +33.41% |
| Q1 2024 | 2024-03-31 | $886.4M | $827.8M | +1410.93% |
| Q4 2023 | 2023-12-31 | $168.2M | −$180.2M | −51.72% |
| Q3 2023 | 2023-09-30 | $257.6M | −$1.35B | −83.98% |
| Q2 2023 | 2023-06-30 | $398.7M | $341.1M | +592.39% |
| Q1 2023 | 2023-03-31 | $58.7M | −$2.4M | −3.85% |
| Q4 2022 | 2022-12-31 | $348.4M | $262.4M | +305.01% |
| Q3 2022 | 2022-09-30 | $1.61B | $1.57B | +4022.95% |
| Q2 2022 | 2022-06-30 | $57.6M | $17.8M | +44.65% |
| Q1 2022 | 2022-03-31 | $61.0M | $24.5M | +66.92% |
| Q4 2021 | 2021-12-31 | $86.0M | — | — |
| Q3 2021 | 2021-09-30 | $39.0M | $39.0M | +222233.69% |
| Q2 2021 | 2021-06-30 | $39.8M | — | — |
| Q1 2021 | 2021-03-31 | $36.6M | — | — |
| Q3 2020 | 2020-09-30 | $17,543 | — | — |
Bakkt operating expenses trends
Over the last five fiscal years, Bakkt's operating expenses increased from $107.6M to $2.48B, a change of $2.38B. The latest reported quarter, Q2 2026, shows $189.8M.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Bakkt source filings ↗