Filing Flows › Bakkt (BKKT) › Q1 2025 › vs Q4 2024
Bakkt (BKKT) Q1 2025 vs Q4 2024 (quarter over quarter)
Bakkt's revenue fell $673M (-39%) from $1.7B in Q4 2024 to $1.1B in Q1 2025.
Bakkt, Q1 2025: revenue $1.1B (+26% year over year), operating margin -1.7%, net earnings $16.2M, operating cash flow −$101M. The chart draws each line against Q4 2024, the increases inside each band.
Every line
| Line | Q1 2025 | Q4 2024 | Change | % |
|---|---|---|---|---|
| Revenue | $1.1B | $1.7B | −$673M | -39% |
| Other income, net | $34.8M | −$28.6M | $63.4M | — |
| Costs & expenses | $1.1B | $1.8B | −$679M | -38% |
| Operating costs | $1.1B | $1.8B | −$666M | -38% |
| Income tax | $49K | $51K | −$2K | -4% |
| Net earnings | $16.2M | −$40.4M | $56.6M | — |
| Operating cash sources | $121M | −$68.9M | $190M | — |
| Depreciation & amortization | $220K | $62K | $158K | +255% |
| Share-based compensation | $3.3M | $2.8M | $551K | +20% |
| Cash used in operations | $101M | −$31.4M | $133M | — |
| Working capital & other | $121M | −$68.9M | $190M | — |
Questions
How much did Bakkt's revenue grow quarter over quarter in Q1 2025?
Bakkt's revenue fell $673M (-39%) from $1.7B in Q4 2024 to $1.1B in Q1 2025.