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Side-by-side financial comparison of Bakkt Holdings, Inc. (BKKT) and Comstock Inc. (LODE). Click either name above to swap in a different company.
Comstock Inc. is the larger business by last-quarter revenue ($374.4K vs $272.0K, roughly 1.4× Bakkt Holdings, Inc.). On growth, Comstock Inc. posted the faster year-over-year revenue change (-76.6% vs -100.0%). Over the past eight quarters, Comstock Inc.'s revenue compounded faster (-8.6% CAGR vs -98.2%).
Bakkt Holdings, Inc., headquartered in Alpharetta, Georgia and New York City, provides a software as a service (SaaS) and API platform for owning and trading cryptocurrency. Bakkt was founded, and is 55% owned, by Intercontinental Exchange (ICE), which also owns the New York Stock Exchange. Bakkt earns revenue from commissions for payments and purchases and sales of cryptocurrency.
The Comstock Lode is a lode of silver ore located under the eastern slope of Mount Davidson, a peak in the Virginia Range in Virginia City, Nevada, which was the first major discovery of silver ore in the United States and named after Canadian miner Henry Comstock.
BKKT vs LODE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $272.0K | $374.4K |
| Net Profit | — | $-13.4M |
| Gross Margin | — | -60.7% |
| Operating Margin | — | -3533.6% |
| Net Margin | — | -3568.2% |
| Revenue YoY | -100.0% | -76.6% |
| Net Profit YoY | -344.6% | 41.5% |
| EPS (diluted) | — | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $272.0K | $374.4K | ||
| Q3 25 | $-50.0K | — | ||
| Q2 25 | $577.9M | $339.5K | ||
| Q1 25 | $1.1B | $785.8K | ||
| Q4 24 | $1.7B | $1.6M | ||
| Q3 24 | $328.4M | $556.4K | ||
| Q2 24 | $509.9M | $434.8K | ||
| Q1 24 | $854.6M | $426.0K |
| Q4 25 | — | $-13.4M | ||
| Q3 25 | $-14.9M | — | ||
| Q2 25 | $-14.7M | $-7.8M | ||
| Q1 25 | $7.7M | $-9.1M | ||
| Q4 24 | $-19.2M | $-22.8M | ||
| Q3 24 | $-2.9M | $-15.0M | ||
| Q2 24 | $-16.4M | $-8.6M | ||
| Q1 24 | $-8.2M | $-6.9M |
| Q4 25 | — | -60.7% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -139.7% | ||
| Q1 25 | — | -12.9% | ||
| Q4 24 | — | 71.7% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -3533.6% | ||
| Q3 25 | 50526.0% | — | ||
| Q2 25 | -3.2% | -2258.0% | ||
| Q1 25 | -1.7% | -895.7% | ||
| Q4 24 | -0.2% | -990.6% | ||
| Q3 24 | -7.7% | -2447.0% | ||
| Q2 24 | -4.3% | -1279.4% | ||
| Q1 24 | -3.7% | -1091.6% |
| Q4 25 | — | -3568.2% | ||
| Q3 25 | 29836.0% | — | ||
| Q2 25 | -2.5% | -2305.1% | ||
| Q1 25 | 0.7% | -1157.3% | ||
| Q4 24 | -1.1% | -1428.2% | ||
| Q3 24 | -0.9% | -2690.2% | ||
| Q2 24 | -3.2% | -1985.5% | ||
| Q1 24 | -1.0% | -1620.2% |
| Q4 25 | — | — | ||
| Q3 25 | $-1.15 | — | ||
| Q2 25 | $-2.16 | — | ||
| Q1 25 | $1.13 | — | ||
| Q4 24 | $-2.99 | — | ||
| Q3 24 | $-0.45 | $-0.08 | ||
| Q2 24 | $-2.67 | — | ||
| Q1 24 | $-1.86 | $-0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $27.2M | $17.0M |
| Total DebtLower is stronger | — | $0 |
| Stockholders' EquityBook value | $112.8M | $107.6M |
| Total Assets | $162.8M | $169.6M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.2M | $17.0M | ||
| Q3 25 | $58.3M | — | ||
| Q2 25 | $43.5M | $18.6M | ||
| Q1 25 | $23.0M | $3.9M | ||
| Q4 24 | $39.0M | $954.3K | ||
| Q3 24 | $29.0M | $20.3M | ||
| Q2 24 | $47.5M | $19.0M | ||
| Q1 24 | $56.6M | $19.4M |
| Q4 25 | — | $0 | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $10.2M | ||
| Q1 25 | — | $13.9M | ||
| Q4 24 | — | $8.5M | ||
| Q3 24 | — | $11.2M | ||
| Q2 24 | — | $10.0M | ||
| Q1 24 | — | $10.9M |
| Q4 25 | $112.8M | $107.6M | ||
| Q3 25 | $114.4M | — | ||
| Q2 25 | $35.3M | $88.6M | ||
| Q1 25 | $44.1M | $59.5M | ||
| Q4 24 | $33.9M | $59.8M | ||
| Q3 24 | $50.5M | $68.0M | ||
| Q2 24 | $47.8M | $74.9M | ||
| Q1 24 | $57.0M | $73.8M |
| Q4 25 | $162.8M | $169.6M | ||
| Q3 25 | $258.3M | — | ||
| Q2 25 | $190.1M | $148.2M | ||
| Q1 25 | $176.3M | $111.3M | ||
| Q4 24 | $269.4M | $91.3M | ||
| Q3 24 | $1.2B | $103.7M | ||
| Q2 24 | $1.2B | $91.3M | ||
| Q1 24 | $1.6B | $91.3M |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.23× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.17× | ||
| Q2 24 | — | 0.13× | ||
| Q1 24 | — | 0.15× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-153.4M | $-5.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-153.4M | $-5.9M | ||
| Q3 25 | $-46.7M | — | ||
| Q2 25 | $5.4M | $-4.8M | ||
| Q1 25 | $-101.3M | $-5.0M | ||
| Q4 24 | $31.4M | $-4.3M | ||
| Q3 24 | $-25.1M | $-3.8M | ||
| Q2 24 | $-65.9M | $-2.0M | ||
| Q1 24 | $38.4M | $-3.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $5.3M | — | ||
| Q1 25 | $-101.4M | — | ||
| Q4 24 | $31.1M | — | ||
| Q3 24 | $-25.6M | — | ||
| Q2 24 | $-66.4M | — | ||
| Q1 24 | $36.6M | $-4.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | -9.4% | — | ||
| Q4 24 | 1.8% | — | ||
| Q3 24 | -7.8% | — | ||
| Q2 24 | -13.0% | — | ||
| Q1 24 | 4.3% | -982.9% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.1% | — | ||
| Q1 24 | 0.2% | 83.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -13.14× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
