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Bakkt Holdings Inc operates technology that connects the digital economy by offering a platform for crypto and redeeming loyalty points. Its institutional-grade technology platform provides a custody solution that caters to more experienced market participants to store crypto and provides consumers, businesses, and institutions with the ability to buy, sell, and store crypto in a simple, intuitive digital experience accessed via application programming interfaces (APIs) or embedded web experience and Loyalty offers a full spectrum of content that clients can make available to its customers when redeeming loyalty currencies. It generates revenue in the form of Subscription and service and Transaction revenue.
2018
559
LTM Revenue $3.5B
LTM EBITDA n/a
$40.1M
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Bakkt has a last 12-month revenue of $3.5B and a last 12-month EBITDA of n/a.
In the most recent fiscal year, Bakkt achieved revenue of $3.5B and an EBITDA of -$83.4M.
Bakkt expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Bakkt valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $780M | $3.5B | XXX | XXX | XXX |
| Gross Profit | n/a | $61.6M | XXX | XXX | XXX |
| Gross Margin | NaN% | 2% | XXX | XXX | XXX |
| EBITDA | -$114M | -$83.4M | XXX | XXX | XXX |
| EBITDA Margin | -15% | -2% | XXX | XXX | XXX |
| Net Profit | -$578M | -$74.9M | XXX | XXX | XXX |
| Net Margin | -74% | -2% | XXX | XXX | XXX |
| Net Debt | n/a | n/a | XXX | XXX | XXX |
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As of April 15, 2025, Bakkt's stock price is $9.
Bakkt has current market cap of $55.7M, and EV of $40.1M.
See Bakkt trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $40.1M | $55.7M | XXX | XXX | XXX | XXX | $-7.97 |
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Sign UpAs of April 15, 2025, Bakkt has market cap of $55.7M and EV of $40.1M.
Bakkt's trades at 0.0x LTM EV/Revenue multiple, and n/a LTM EBITDA.
Analysts estimate Bakkt's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Bakkt and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $40.1M | XXX | XXX | XXX |
| EV/Revenue | 0.0x | XXX | XXX | XXX |
| EV/EBITDA | -0.5x | XXX | XXX | XXX |
| P/E | -1.2x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | -1.7x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpBakkt's NTM/LTM revenue growth is -100%
Bakkt's revenue per employee for the last fiscal year averaged $6.2M, while opex per employee averaged $0.3M for the same period.
Over next 12 months, Bakkt's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Bakkt's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Bakkt and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 347% | XXX | XXX | XXX | XXX |
| EBITDA Margin | -2% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -27% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | n/a | XXX | XXX | XXX | XXX |
| Revenue per Employee | $6.2M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.3M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 4% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 5% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Phoenix Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Jasmine Technology Solution | XXX | XXX | XXX | XXX | XXX | XXX |
| Advanced Blockchain | XXX | XXX | XXX | XXX | XXX | XXX |
| Bitcoin Group | XXX | XXX | XXX | XXX | XXX | XXX |
| AEE Gold | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Bakkt acquired XXX companies to date.
Last acquisition by Bakkt was XXXXXXXX, XXXXX XXXXX XXXXXX . Bakkt acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Bakkt founded? | Bakkt was founded in 2018. |
| Where is Bakkt headquartered? | Bakkt is headquartered in United States of America. |
| How many employees does Bakkt have? | As of today, Bakkt has 559 employees. |
| Is Bakkt publicy listed? | Yes, Bakkt is a public company listed on NYS. |
| What is the stock symbol of Bakkt? | Bakkt trades under BKKT ticker. |
| When did Bakkt go public? | Bakkt went public in 2021. |
| Who are competitors of Bakkt? | Similar companies to Bakkt include e.g. Phoenix Group, Jasmine Technology Solution, Advanced Blockchain, Bitcoin Group. |
| What is the current market cap of Bakkt? | Bakkt's current market cap is $55.7M |
| What is the current revenue of Bakkt? | Bakkt's last 12-month revenue is $3.5B. |
| What is the current EV/Revenue multiple of Bakkt? | Current revenue multiple of Bakkt is 0.0x. |
| What is the current revenue growth of Bakkt? | Bakkt revenue growth between 2023 and 2024 was 347%. |
| Is Bakkt profitable? | Yes, Bakkt is EBITDA-positive (as of the last 12 months). |
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