Bakkt (BKKT) Operating Margin (2021 - 2026)
Bakkt (BKKT) recorded quarterly Operating Margin of 53.73% in Q1 2026, down 76.63% quarter-over-quarter from 30.42% in Q4 2025, and down 5228.0% on a YoY basis from 1.05% in Q1 2025.
Bakkt (BKKT) Operating Margin (2021 - 2026) Analysis & Trends
Bakkt's Operating Margin history runs 6 years deep, the most recent figure standing at 53.73% for Q1 2026.
- In Q1 2026, Operating Margin fell 5228.0% year-over-year to 53.73%; the TTM figure through Mar 2026 stood at 11.57% (down 1020.0% YoY), while the FY2025 annual figure was 6.33%, down 393.0% from the prior year.
- Operating Margin was 53.73% for Q1 2026 at Bakkt, down from 30.42% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 0.29% in Q4 2024 to a low of 12070.7% in Q3 2022.
- Historically, Operating Margin has averaged 903.22% across 5 years, with a median of 14.7% in 2023.
- The sharpest annual moves came in 2022 and 2023: Operating Margin sank 1174405 bps in 2022, then surged 1204488 bps in 2023.
- A 5-year view of Operating Margin shows it stood at 2086.85% in 2022, then soared by 100 bps to 4.24% in 2023, then soared by 93 bps to 0.29% in 2024, then plunged by 10276 bps to 30.42% in 2025, then tumbled by 77 bps to 53.73% in 2026.
- The last three Operating Margin figures came in at 53.73% (Q1 2026), 30.42% (Q4 2025), and 6.28% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,903.35 Bn | 2,825.07 Bn | 56.06 Bn | 46.33% |
| 2 | Alarum Technologies | 1,127.45 Bn | 1,113.30 Bn | 7.23 Mn | 6.91% |
| 3 | Oracle | 528.84 Bn | 490.27 Bn | 15.14 Bn | 31.79% |
| 4 | Palantir Technologies | 306.36 Bn | 298.44 Bn | 1.42 Bn | 46.18% |
| 5 | Palo Alto Networks | 194.33 Bn | 189.79 Bn | 1.91 Bn | 15.30% |
| 6 | CrowdStrike Holdings | 171.19 Bn | 168.13 Bn | 993.68 Mn | 1.06% |
| 7 | Fortinet | 108.13 Bn | 104.84 Bn | 1.49 Bn | 31.36% |
| 8 | Synopsys | 86.21 Bn | 86.09 Bn | 1.77 Bn | 8.43% |
| 9 | Cloudflare | 80.35 Bn | 79.41 Bn | 455.60 Mn | -9.69% |
| 10 | Bakkt | 240.95 Mn | 158.39 Mn | -208.47 Mn | -53.73% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -53.73% |
| Dec 31, 2025 | -30.42% |
| Sep 30, 2025 | -6.28% |
| Jun 30, 2025 | -3.20% |
| Mar 31, 2025 | -1.45% |
| Dec 31, 2024 | -0.29% |
| Sep 30, 2024 | -7.95% |
| Jun 30, 2024 | -4.32% |
| Mar 31, 2024 | -3.73% |
| Dec 31, 2023 | -4.24% |
| Sep 30, 2023 | -25.81% |
| Jun 30, 2023 | -14.70% |
| Mar 31, 2023 | -343.81% |
| Dec 31, 2022 | -2,086.85% |
| Sep 30, 2022 | -12,070.70% |
| Jun 30, 2022 | -310.30% |
| Mar 31, 2022 | -386.90% |
| Sep 30, 2021 | -326.65% |
| Jun 30, 2021 | -369.14% |
| Mar 31, 2021 | -348.80% |