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Side-by-side financial comparison of Bakkt Holdings, Inc. (BKKT) and Safe Pro Group Inc. (SPAI). Click either name above to swap in a different company.
Bakkt Holdings, Inc. is the larger business by last-quarter revenue ($272.0K vs $227.7K, roughly 1.2× Safe Pro Group Inc.).
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.
BKKT vs SPAI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $272.0K | $227.7K |
| Net Profit | — | $-3.4M |
| Gross Margin | — | 33.1% |
| Operating Margin | — | -1936.2% |
| Net Margin | — | -1507.6% |
| Revenue YoY | -100.0% | — |
| Net Profit YoY | -344.6% | — |
| EPS (diluted) | — | $-0.16 |
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 | $227.7K | ||
| Q3 25 | $-50.0K | $101.4K | ||
| Q2 25 | $577.9M | $92.8K | ||
| Q1 25 | $1.1B | $184.8K | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $328.4M | $330.8K | ||
| Q2 24 | $509.9M | $643.0K | ||
| Q1 24 | $854.6M | — |
| Q4 25 | — | $-3.4M | ||
| Q3 25 | $-14.9M | $-5.0M | ||
| Q2 25 | $-14.7M | $-1.9M | ||
| Q1 25 | $7.7M | $-4.0M | ||
| Q4 24 | $-19.2M | — | ||
| Q3 24 | $-2.9M | $-3.7M | ||
| Q2 24 | $-16.4M | $-1.2M | ||
| Q1 24 | $-8.2M | — |
| Q4 25 | — | 33.1% | ||
| Q3 25 | — | 33.1% | ||
| Q2 25 | — | 34.0% | ||
| Q1 25 | — | 33.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 40.6% | ||
| Q2 24 | — | 28.7% | ||
| Q1 24 | — | — |
| Q4 25 | — | -1936.2% | ||
| Q3 25 | 50526.0% | -4148.6% | ||
| Q2 25 | -3.2% | -2073.6% | ||
| Q1 25 | -1.7% | -2167.6% | ||
| Q4 24 | -0.2% | — | ||
| Q3 24 | -7.7% | -1070.9% | ||
| Q2 24 | -4.3% | -174.6% | ||
| Q1 24 | -3.7% | — |
| Q4 25 | — | -1507.6% | ||
| Q3 25 | 29836.0% | -4940.1% | ||
| Q2 25 | -2.5% | -2064.1% | ||
| Q1 25 | 0.7% | -2145.5% | ||
| Q4 24 | -1.1% | — | ||
| Q3 24 | -0.9% | -1114.3% | ||
| Q2 24 | -3.2% | -188.9% | ||
| Q1 24 | -1.0% | — |
| Q4 25 | — | $-0.16 | ||
| Q3 25 | $-1.15 | $-0.29 | ||
| Q2 25 | $-2.16 | $-0.13 | ||
| Q1 25 | $1.13 | $-0.27 | ||
| Q4 24 | $-2.99 | — | ||
| Q3 24 | $-0.45 | $-0.34 | ||
| Q2 24 | $-2.67 | $-0.14 | ||
| Q1 24 | $-1.86 | — |
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 | — |
| Total DebtLower is stronger | — | $146.0K |
| Stockholders' EquityBook value | $112.8M | $17.7M |
| Total Assets | $162.8M | $19.1M |
| Debt / EquityLower = less leverage | — | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.2M | — | ||
| Q3 25 | $58.3M | — | ||
| Q2 25 | $43.5M | — | ||
| Q1 25 | $23.0M | — | ||
| Q4 24 | $39.0M | — | ||
| Q3 24 | $29.0M | — | ||
| Q2 24 | $47.5M | — | ||
| Q1 24 | $56.6M | — |
| Q4 25 | — | $146.0K | ||
| Q3 25 | — | $146.0K | ||
| Q2 25 | — | $146.0K | ||
| Q1 25 | — | $146.0K | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $146.0K | ||
| Q2 24 | — | $256.0K | ||
| Q1 24 | — | — |
| Q4 25 | $112.8M | $17.7M | ||
| Q3 25 | $114.4M | $8.4M | ||
| Q2 25 | $35.3M | $2.6M | ||
| Q1 25 | $44.1M | $2.6M | ||
| Q4 24 | $33.9M | — | ||
| Q3 24 | $50.5M | $4.2M | ||
| Q2 24 | $47.8M | $531.4K | ||
| Q1 24 | $57.0M | — |
| Q4 25 | $162.8M | $19.1M | ||
| Q3 25 | $258.3M | $9.7M | ||
| Q2 25 | $190.1M | $3.5M | ||
| Q1 25 | $176.3M | $3.7M | ||
| Q4 24 | $269.4M | — | ||
| Q3 24 | $1.2B | $5.5M | ||
| Q2 24 | $1.2B | $3.0M | ||
| Q1 24 | $1.6B | — |
| Q4 25 | — | 0.01× | ||
| Q3 25 | — | 0.02× | ||
| Q2 25 | — | 0.06× | ||
| Q1 25 | — | 0.06× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.03× | ||
| Q2 24 | — | 0.48× | ||
| Q1 24 | — | — |
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 | $-2.7M |
| Free Cash FlowOCF − Capex | — | $-2.7M |
| FCF MarginFCF / Revenue | — | -1181.2% |
| Capex IntensityCapex / Revenue | — | 10.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-6.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-153.4M | $-2.7M | ||
| Q3 25 | $-46.7M | $-1.6M | ||
| Q2 25 | $5.4M | $-1.0M | ||
| Q1 25 | $-101.3M | $-941.8K | ||
| Q4 24 | $31.4M | — | ||
| Q3 24 | $-25.1M | $-1.9M | ||
| Q2 24 | $-65.9M | — | ||
| Q1 24 | $38.4M | — |
| Q4 25 | — | $-2.7M | ||
| Q3 25 | — | $-1.6M | ||
| Q2 25 | $5.3M | $-1.0M | ||
| Q1 25 | $-101.4M | $-960.0K | ||
| Q4 24 | $31.1M | — | ||
| Q3 24 | $-25.6M | $-1.9M | ||
| Q2 24 | $-66.4M | — | ||
| Q1 24 | $36.6M | — |
| Q4 25 | — | -1181.2% | ||
| Q3 25 | — | -1579.6% | ||
| Q2 25 | 0.9% | -1092.7% | ||
| Q1 25 | -9.4% | -519.5% | ||
| Q4 24 | 1.8% | — | ||
| Q3 24 | -7.8% | -577.0% | ||
| Q2 24 | -13.0% | — | ||
| Q1 24 | 4.3% | — |
| Q4 25 | — | 10.0% | ||
| Q3 25 | — | 4.9% | ||
| Q2 25 | 0.0% | 3.0% | ||
| Q1 25 | 0.0% | 9.9% | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.2% | 0.9% | ||
| Q2 24 | 0.1% | — | ||
| Q1 24 | 0.2% | — |
| 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.
