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Bakkt vs Resolute Holdings Management: BKKT and RHLD compared
Bakkt is the larger company: $578M of revenue in its latest quarter (Q2 2025) against $510M for Resolute Holdings Management (Q3 2026). Resolute Holdings Management is growing faster (+322% against +13% a year earlier). Resolute Holdings Management is more profitable, with an operating margin of 23.3% against -3.2%.
Where the money goes: BKKT and RHLD
Bakkt (BKKT) · Q2 2025
Bakkt, Q2 2025: revenue $578M (+13% year over year), operating margin -3.2%, net loss $30.2M, operating cash flow $5.4M. The chart follows the revenue to costs, profit and cash.
Resolute Holdings Management (RHLD) · Q3 2026
Resolute Holdings Management, Q3 2026: revenue $510M (+322% year over year), operating margin 23.3%, net earnings $69.0M, operating cash flow $103M. The chart follows the revenue to costs, profit and cash.
| Bakkt (BKKT) | Resolute Holdings Management (RHLD) | |
|---|---|---|
| Latest quarter | Q2 2025 | Q3 2026 |
| Revenue | $578M | $510M |
| Revenue growth, Y/Y | +13% | +322% |
| Gross margin | — | 41.0% |
| Operating margin | -3.2% | 23.3% |
| Net earnings | −$30.2M | $69.0M |
| Net margin | -5.2% | 13.5% |
| Operating cash flow | $5.4M | $103M |
| Free cash flow | $5.3M | $94.3M |
| Market value | $179M | $1.2B |
| P/E | — | 18.5× |
| Analysts’ mean target | $12.00 | — |
Where the revenue comes from
Bakkt
- Transaction revenue: $574M (99%)
- Subscription and service revenue: $4.0M (1%)
Resolute Holdings Management
- Husky Holdings: $369M (72%)
- CompoSecure Holdings: $141M (28%)
Questions
Which is bigger, Bakkt or Resolute Holdings Management?
Bakkt is the larger company: $578M of revenue in its latest quarter (Q2 2025) against $510M for Resolute Holdings Management (Q3 2026).
Is Bakkt or Resolute Holdings Management growing faster?
Resolute Holdings Management is growing faster (+322% against +13% a year earlier).
Which is more profitable, Bakkt or Resolute Holdings Management?
Resolute Holdings Management is more profitable, with an operating margin of 23.3% against -3.2%.
More: Bakkt earnings · how Bakkt makes money · Resolute Holdings Management earnings · how Resolute Holdings Management makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 11, 2025; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.