Bakkt, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2020 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | $-107.2M | $-46.7M | $-74.9M | $-578.1M | $-79.6M |
| Depreciation & Amortization | $607.0K | $343.0K | $13.9M | $25.4M | $8.0M |
| Depreciation | $600.0K | $300.0K | $5.1M | $3.5M | $2.7M |
| Amortization | $0 | $0 | $2.7M | $21.8M | $6.5M |
| Stock-Based Compensation | $71.6M | $15.8M | $15.5M | $31.6M | $0 |
| Net Cash from Operating Activities | $-153.4M | $-21.2M | $-60.7M | $-117.6M | $-30.9M |
| Investing Activities | |||||
| Capital Expenditures | — | $3.1M | $9.4M | $30.5M | $20.6M |
| Business Acquisitions | — | — | — | — | — |
| Net Cash from Investing Activities | $-38.1M | $14.1M | $66.0M | $-172.0M | $-7.9M |
| Financing Activities | |||||
| Dividends Paid | — | — | — | — | — |
| Stock Repurchases | — | $2.7M | $2.6M | $2.6M | — |
| Net Cash from Financing Activities | $82.1M | $43.8M | $-2.6M | $-2.6M | $37.5M |
| Net Change in Cash | $-108.8M | $35.2M | $3.1M | $-293.0M | $-1.2M |
| Free Cash Flow | — | $-24.3M | $-70.1M | $-148.1M | $-51.5M |