BKKTBakkt

Crypto · Financial Services · NYSE

Headquarters: Atlanta, GA
CEO: Akshay Sudhir Naheta
Next results: around Jan 19, 2027

Dilution: new shares, stock pay and buybacks

prospectuses (S-3, 424B) of the last three years and the 10-K cash flow From EDGAR

Shares offered

Since Nov 11, 2023: 1 at-the-market program, 4 sales of new shares, 5 shelf registrations; also 7 resales by holders. Latest at-the-market program for common stock: Jan 20, 2026, up to $300.0M.

Feb 27, 2026 Sale of 3.0M new shares 424B5
Jan 20, 2026 At-the-market program: up to $300M of common stock 424B5
Jul 30, 2025 Sale of 6.8M new shares 424B5
Jun 26, 2025 Shelf registration: shares and other securities, amount not fixed S-3
Mar 1, 2024 Sale of 30.0M new shares 424B5
Mar 1, 2024 Sale of 11.5M new shares 424B5

“We are offering 3,024,799 shares of our Class A common stock, par value $0.0001 per share (the “Common Stock”) and, in lieu of Common Stock, pre-funded warrants to purchase 2,475,201 shares of Common Stock (“Pre-Funded Warrants”) (together with the shares of Common Stock underlying such Pre-Funded Warrants) pursuant to this prospectus supplement and the accompanying base prospectus.”
424B5, Feb 27, 2026 ↗

Every offering filing →

Paid in stock

$71.6M

stock-based pay, year to Dec 31, 2025; shares sold for $63.0M in cash

Bought back

no buyback line in the 10-K XBRL, year to Dec 31, 2025

Diluted shares: 12.09M in the year to Dec 31, 2025 2025 +106.5%2024 +64.3%2023 +25.2%

Change in the diluted weighted average share count from the fiscal year before, stock splits taken out. Bars use one scale for stock pay and buybacks. Prospectuses are read from their cover page; preliminary ones are left out. Cash & buybacks, year by year → · How

No cash flow chart for banks and insurers: their operating cash flow moves with loans, deposits and trading, so it says little about how cash was spent.

Buybacks, year to Dec 31, 2025

cash paid for its own shares

Paid in stock to employees

$71.6M

stock-based compensation

Share count, 1 year

+3.2%

more shares: owners are diluted

Share count, 3 years

+112.3%

diluted average shares

Fiscal year to	Buybacks	Dividends	Stock pay	Shares issued for cash	Diluted shares
2025-12-31	-	-	$71.6M	$63.0M	12.09M
2024-12-31	$2.7M	-	$15.8M	$0	5.86M
2023-12-31	$2.6M	-	$15.5M	$0	3.56M
2022-12-31	$2.6M	-	$31.6M	$0	2.85M
2020-12-31	-	-	$0	-	-

From the XBRL of the 10-Ks (cash flow statement and diluted weighted average shares); each year as reported in the latest 10-K that includes it. Concepts: sbc = ShareBasedCompensation; issuance = ProceedsFromIssuanceOfCommonStock; diluted_shares = WeightedAverageNumberOfDilutedSharesOutstanding.

Work on BKKT in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/BKKT/export.csv") into a cell.