Bakkt (BKKT-WT) Operating Expenses (2020 - 2026)
Bakkt (BKKT-WT) posted quarterly Operating Expenses of $260.5 million for Q1 2026, down 75.9% year-over-year from $1.1 billion in Q1 2025, and down 33.23% quarter-over-quarter from $390.2 million in Q4 2025.
Bakkt (BKKT-WT) Operating Expenses (2020 - 2026) Analysis & Trends
Bakkt's Operating Expenses history runs 7 years deep, the most recent figure standing at $260.5 million for Q1 2026.
- In Q1 2026, Operating Expenses fell 75.9% year-over-year to $260.5 million; the TTM figure through Mar 2026 stood at $1.7 billion (down 55.35% YoY), while the FY2025 annual figure was $2.5 billion, down 29.53% from the prior year.
- Operating Expenses for Q1 2026 stood at $260.5 million, down from $390.2 million in the prior quarter.
- The five-year high for Operating Expenses was $1.8 billion in Q4 2024, with the low at $57.6 million in Q2 2022.
- The 5-year median for Operating Expenses is $390.2 million (2025), against an average of $545.3 million.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses soared 4022.95% in 2022, then tumbled 83.98% in 2023.
- Bakkt's Operating Expenses stood at $347.9 million in 2022, then slumped by 51.65% to $168.2 million in 2023, then soared by 967.83% to $1.8 billion in 2024, then plunged by 78.28% to $390.2 million in 2025, then slumped by 33.23% to $260.5 million in 2026.
- Business Quant data shows BKKT-WT's Operating Expenses at $260.5 million in Q1 2026, $390.2 million in Q4 2025, and $427.5 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,576.39 Bn | 3,443.64 Bn | 60.48 Bn | 12.28 Bn |
| 2 | Palantir Technologies | 412.58 Bn | 403.17 Bn | 1.64 Bn | 726.59 Mn |
| 3 | Oracle | 407.66 Bn | 375.77 Bn | - | 13.05 Bn |
| 4 | Palo Alto Networks | 299.27 Bn | 296.16 Bn | 2.03 Bn | 2.21 Bn |
| 5 | Fortinet | 115.83 Bn | 111.76 Bn | 1.64 Bn | 953.90 Mn |
| 6 | Cloudflare | 106.65 Bn | 102.48 Bn | 499.52 Mn | 705.21 Mn |
| 7 | Synopsys | 76.61 Bn | 74.41 Bn | 1.77 Bn | 1.57 Bn |
| 8 | CoreWeave | 51.53 Bn | 45.99 Bn | 1.70 Bn | 2.62 Bn |
| 9 | Block | 47.55 Bn | 41.12 Bn | 3.17 Bn | 2.72 Bn |
| 10 | Bakkt | 1.35 Mn | -49.35 Mn | 2.21 Mn | 189.76 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 189.76 Mn |
| Mar 31, 2026 | 260.52 Mn |
| Dec 31, 2025 | 390.19 Mn |
| Sep 30, 2025 | 427.47 Mn |
| Jun 30, 2025 | 596.37 Mn |
| Mar 31, 2025 | 1.08 Bn |
| Dec 31, 2024 | 1.80 Bn |
| Sep 30, 2024 | 341.47 Mn |
| Jun 30, 2024 | 531.92 Mn |
| Mar 31, 2024 | 886.42 Mn |
| Dec 31, 2023 | 168.21 Mn |
| Sep 30, 2023 | 257.63 Mn |
| Jun 30, 2023 | 398.72 Mn |
| Mar 31, 2023 | 58.67 Mn |
| Dec 31, 2022 | 347.88 Mn |
| Sep 30, 2022 | 1.61 Bn |
| Jun 30, 2022 | 57.59 Mn |
| Mar 31, 2022 | 61.02 Mn |
| Sep 30, 2021 | 39.00 Mn |
| Jun 30, 2021 | 39.81 Mn |