Bakkt (BKKT) Operating Margin (2021 - 2026)
Bakkt's Operating Margin was -11.53% in Q2 2026, down 8.74 percentage points from -2.79% a year earlier and down 4.58 percentage points from the prior quarter.
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Analysis
Bakkt (BKKT) Operating Margin (2021 - 2026) Analysis & Trends
On a trailing twelve-month basis, Bakkt's Operating Margin was -13.70% through Jun 30, 2026, down 11.92 percentage points year-over-year; for FY2025, it was -6.33%, down 3.93 percentage points from FY2024.
- Operating Margin shows a five-year change of +271.33 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was -2.40% in FY2024 (+19.09 pp), -21.49% in FY2023 (+3569.35 pp), -3590.84% in FY2022 (-2941.54 pp) and -649.30% in FY2021 (-371.64 pp).
- Quarterly Operating Margin has moved between -12070.70% (Q3 2022) and -0.57% (Q4 2024) over five years.
- Compared with a year earlier, Operating Margin has declined for three straight quarters, with an average year-over-year change of -2.13 percentage points over the last eight quarters.
- The best year-over-year quarter for Operating Margin over five years was Q3 2023 (a gain of 12044.88 percentage points); the worst was Q4 2025 (a drop of 29.85 percentage points).
- Per Business Quant data, BKKT's Operating Margin in the three quarters before Q2 2026 was -6.95% (Q1 2026), -30.42% (Q4 2025) and -6.28% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | PayPal Holdings | 50.23 Bn | 8.45 Bn | - | 16.44% |
| 2 | Block | 46.85 Bn | 18.15 Bn | 3.17 Bn | 6.75% |
| 3 | Coinbase Global | 46.71 Bn | 3.52 Bn | - | -9.30% |
| 4 | Corpay | 26.70 Bn | 16.59 Bn | - | 35.28% |
| 5 | Fiserv | 25.72 Bn | 22.40 Bn | 2.90 Bn | 19.18% |
| 6 | Global Payments | 22.62 Bn | 412.61 Mn | 2.03 Bn | 10.15% |
| 7 | Guidewire Software | 15.37 Bn | 11.94 Bn | 269.68 Mn | 15.16% |
| 8 | Bitmine Immersion Technologies | 13.22 Bn | 10.60 Bn | 40.81 Mn | -25.50% |
| 9 | Chime Financial | 11.55 Bn | 7.34 Bn | 594.87 Mn | 3.18% |
| 10 | Bakkt | 230.62 Mn | 9.48 Mn | 2.21 Mn | -11.53% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -11.53% |
| Mar 31, 2026 | -6.95% |
| Dec 31, 2025 | -30.42% |
| Sep 30, 2025 | -6.28% |
| Jun 30, 2025 | -2.79% |
| Mar 31, 2025 | -1.44% |
| Dec 31, 2024 | -0.57% |
| Sep 30, 2024 | -7.65% |
| 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% |
| Sep 30, 2022 | -12,070.70% |
| Jun 30, 2022 | -310.30% |
| Mar 31, 2022 | -386.90% |
| Dec 31, 2021 | -649.30% |
| Sep 30, 2021 | -326.65% |
| Jun 30, 2021 | -369.14% |
API Access
Bakkt Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=BKKT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "BKKT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=BKKT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();