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Bakkt vs SoFi Technologies: revenue, profit, margins and growth compared

Bakkt brought in $2.3B of revenue in fiscal 2025, SoFi Technologies $3.6B in fiscal 2025. Revenue changed by -32.1% at Bakkt and +35.1% at SoFi Technologies on the year before, so SoFi Technologies grew faster. Bakkt kept -4.6% of its revenue as net profit, SoFi Technologies 13.3%.

Side by side, latest fiscal year

BKKTSOFI
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.3B$3.6B
Revenue growth-32.1%+35.1%
Net income-$107.2M$481.3M
Net margin-4.6%13.3%
Free cash flown/a-$4B
Free cash flow marginn/a-110.3%
Earnings per share (diluted)-$8.87$0.39
Cash$27M$4.9B
Debtn/an/a
Price to earningsn/a42.5
Market value$383.1M$21.4B
Dividend yieldn/an/a
Rank by revenue in sector#134 of 444 · Finance#112 of 444 · Finance

Over the years

Revenue
BKKT FY2020: $28.5MBKKT FY2022: $56.2MBKKT FY2023: $727MBKKT FY2024: $3.4BBKKT FY2025: $2.3BSOFI FY2019: $442.7MSOFI FY2020: $565.5MSOFI FY2021: $984.9MSOFI FY2022: $1.6BSOFI FY2023: $2.1BSOFI FY2024: $2.7BSOFI FY2025: $3.6BFY19FY20FY21FY22FY23FY24FY25
BKKT $2.3BSOFI $3.6B
Net income
BKKT FY2020: -$79.6MBKKT FY2022: -$578.1MBKKT FY2023: -$74.9MBKKT FY2024: -$46.7MBKKT FY2025: -$107.2MSOFI FY2019: -$239.7MSOFI FY2020: -$224.1MSOFI FY2021: -$483.9MSOFI FY2022: -$320.4MSOFI FY2023: -$300.7MSOFI FY2024: $498.7MSOFI FY2025: $481.3MFY19FY20FY21FY22FY23FY24FY25
BKKT -$107.2MSOFI $481.3M
Net margin
BKKT FY2020: -279.4%BKKT FY2022: -1,028.2%BKKT FY2023: -10.3%BKKT FY2024: -1.4%BKKT FY2025: -4.6%SOFI FY2019: -54.1%SOFI FY2020: -39.6%SOFI FY2021: -49.1%SOFI FY2022: -20.4%SOFI FY2023: -14.2%SOFI FY2024: 18.6%SOFI FY2025: 13.3%FY19FY20FY21FY22FY23FY24FY25
BKKT -4.6%SOFI 13.3%
Revenue growth
BKKT FY2023: +1,193.0%BKKT FY2024: +373.3%BKKT FY2025: -32.1%SOFI FY2020: +27.8%SOFI FY2021: +74.1%SOFI FY2022: +59.8%SOFI FY2023: +34.9%SOFI FY2024: +26.0%SOFI FY2025: +35.1%FY20FY21FY22FY23FY24FY25
BKKT -32.1%SOFI +35.1%
Free cash flow
BKKT FY2020: -$51.5MBKKT FY2022: -$148.1MBKKT FY2023: -$70.1MBKKT FY2024: -$24.3MSOFI FY2019: -$92.3MSOFI FY2020: -$503.9MSOFI FY2021: -$1.4BSOFI FY2022: -$7.3BSOFI FY2023: -$7.3BSOFI FY2024: -$1.3BSOFI FY2025: -$4BFY19FY20FY21FY22FY23FY24FY25
BKKT -$24.3MSOFI -$4B

Fiscal years as each company reports them; the two may end in different months.

Questions about Bakkt and SoFi Technologies

Which is bigger by revenue, Bakkt or SoFi Technologies?

SoFi Technologies is bigger by revenue: $3.6B in fiscal 2025, against $2.3B for Bakkt in fiscal 2025.

Which keeps more of its revenue as profit, Bakkt or SoFi Technologies?

Bakkt had a net margin of -4.6% in fiscal 2025; SoFi Technologies had 13.3% in fiscal 2025.

Which grew revenue faster, Bakkt or SoFi Technologies?

In their latest fiscal years revenue changed by -32.1% at Bakkt and +35.1% at SoFi Technologies.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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