{"filings":[{"id":14122,"accession_number":"0001628280-26-033588","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2026-05-11T20:36:28+00:00","items":["2.02","9.01"],"status":"ready","headline":"Bakkt Q1 revenue $243.6M (down 77% YoY); net loss $11.7M; completes DTR acquisition","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total revenue $243.6M vs $1.065.8B in Q1 2025; crypto costs and fees $242.0M.","Net loss attributable $11.7M vs net income $7.7M; prior year had $32.2M warrant gain.","Adjusted EBITDA loss $13.7M, up from $11.7M loss; controllable opex $18.5M.","Cash and equivalents $82.6M; no long-term debt; closed DTR all-stock acquisition on April 30.","Appointed Daniel Ishag as CCO; signed MoU with Zoth for stablecoin payments in Global South."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.41,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2026-Q1","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":95798,"accession_number":"0001193125-26-197835","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2026-04-30T23:59:59+00:00","items":["2.01","1.01","3.02","5.01","7.01","9.01"],"status":"ready","headline":"Bakkt completes acquisition of DTR; issues ~11.3M shares to sellers including CEO","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Acquired DTR, a developer of stablecoin and agentic payments infrastructure, for 11,316,775 shares of Class A common stock.","CEO Akshay Naheta now beneficially owns ~22.3% of Bakkt (11,127,563 shares) post-closing.","Combined platform targets $44 trillion cross-border payments market; integrates stablecoin settlement layer.","Up to 725,592 additional shares may be issued if outstanding warrants are exercised."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":95797,"accession_number":"0001628280-26-025920","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2026-04-20T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"Bakkt stockholders approve issuance of 31.5% of Class A common stock for DTR acquisition","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Approved Issuance Proposal with 12,999,817 for, 229,734 against, 36,649 abstain.","Issuance equals 31.5% of outstanding Class A common stock plus shares for convertible securities.","Shares to be issued to beneficial owners of Distributed Technologies Research Global Ltd. (DTR).","Akshay Naheta, CEO/President/Board member, is among recipients per proxy statement.","Special meeting reconvened on April 17, 2026 after March 24, 2026 adjournment."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":109123,"accession_number":"0001628280-26-020821","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2026-03-24T23:59:59+00:00","items":["8.01","5.02"],"status":"ready","headline":"Bakkt adjourns DTR acquisition vote meeting to April 17; 48% proxies in, 99% favor","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Special meeting adjourned to April 17, 2026 due to lack of quorum; 48.2% of shares submitted proxies.","Of proxies submitted, 99.1% voted in favor of the issuance proposal for DTR acquisition, including Akshay Naheta.","Issuance proposal unchanged; previously submitted proxies remain valid unless revoked.","Stockholders can still vote; record date remains February 10, 2026."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":109122,"accession_number":"0001628280-26-018400","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2026-03-17T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Bakkt FY2025 revenue $2,335.2M, down 32%; net loss $132.2M; restructures platform","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["GAAP revenue $2,335.2M, down 32.1% YoY driven by lower crypto trading volume.","Net loss from continuing ops $97.7M; total net loss $132.2M including discontinued ops.","Adjusted EBITDA improved 42.9% to negative $32.7M, aided by $24.5M other income.","Raised ~$100M in capital, eliminated long-term debt, collapsed Up-C structure.","Acquired DTR in Jan 2026; divested custody and loyalty businesses; added 3 board members."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":109121,"accession_number":"0001193125-26-085441","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2026-03-02T23:59:59+00:00","items":["1.01","7.01","8.01","9.01"],"status":"ready","headline":"Bakkt raises $48.1M in registered direct offering of common stock and pre-funded warrants","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Sold 3,024,799 shares at $8.75 and pre-funded warrants for 2,475,201 shares at $8.7499; gross proceeds ~$48.125M.","Offering closed March 2, 2026; proceeds for working capital, general corporate purposes, and strategic initiatives.","Placement agent Cohen & Company Capital Markets; fee 3% of gross proceeds; lock-up period of 45 days.","Pre-funded warrants exercisable at $0.0001; beneficial ownership limitation of 9.90%."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":109120,"accession_number":"0001193125-26-016077","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2026-01-20T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"Bakkt enters ATM offering agreement to sell up to $300M of Class A common stock","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Agreement dated Jan 16, 2026 with 7 sales agents for at-the-market offering of up to $300M of common stock.","Sales may be made on NYSE at prevailing market prices; company has no obligation to sell any shares.","Proceeds for general corporate purposes; agents receive commission based on gross sales price.","Offered under effective S-3 registration statement (333-288361) and prospectus supplement dated Jan 20, 2026.","Company may terminate agreement upon 3 business days' notice to agents."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":109119,"accession_number":"0001193125-26-015873","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2026-01-20T23:59:59+00:00","items":["2.02","8.01","9.01"],"status":"ready","headline":"Bakkt prelim Q4 rev $298-300M, cash $26-28M; sues for $5M; invests $10M in India warrants","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Gross digital asset revenues $298M-$300M; total costs $297M-$299M; gross margin only ~$1M.","Cash, equivalents & restricted cash $26M-$28M at Dec 31, 2025; net operating cash burn $19M-$21M in Q4.","Opco filed suit in Delaware Superior Court for Buyer's failure to return ~$5M Wrong Pockets Cash; also default on ~$5M Notes.","Subscribed to 47.5M warrants in Transchem Ltd. for ~$10M; target identified in Indian stock broking sector."],"consensus_eps_estimate":null,"consensus_eps_actual":-8.87,"consensus_revenue_estimate":null,"consensus_revenue_actual":2335243000.0,"consensus_period":"2025-FY","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":109118,"accession_number":"0001193125-26-009830","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2026-01-12T23:59:59+00:00","items":["1.01","1.02","3.02","5.02","5.03","7.01","9.01"],"status":"ready","headline":"Bakkt to acquire DTR from CEO Naheta for ~31.5% stock; name change to Bakkt, Inc.","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Bakkt issues 31.5% of its outstanding Class A common stock to acquire Distributed Technologies Research Global from CEO Akshay Naheta.","Special Committee of independent directors approved the deal; Naheta recused; stockholder vote and regulatory approvals required.","Closing expected by July 10, 2026 (extendable to Oct 8, 2026); a $4.815M termination fee payable by Bakkt if board changes recommendation.","Company will change name to 'Bakkt, Inc.' effective Jan 22, 2026; Series A Non-Voting Convertible Preferred eliminated.","Holders of ~36.1% of common stock (including directors and officers) signed Voting and Support Agreement to vote for transaction."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125609,"accession_number":"0001628280-25-056871","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-12-15T23:59:59+00:00","items":["7.01"],"status":"ready","headline":"Bakkt designates X account @bakkt for Regulation FD disclosures","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["Company will use official X account @bakkt to disclose material non-public information.","Investors encouraged to monitor @bakkt, investor relations site, press releases, and SEC filings.","Information posted on X may be deemed material; no other specific financial or operational news in this filing."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.15,"calibrated_materiality_score":0.15,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125608,"accession_number":"0001628280-25-056295","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-12-10T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"Bakkt recasts 2024 financials to show loyalty business as discontinued operations after Oct 1 sale","summary_kind":"llm","event_type":"other_material","confidence":"low","bullets":["Sale of loyalty business (Bridge2 Solutions, Aspire Loyalty Travel) completed on October 1, 2025.","Recast FY2024 financial statements remove loyalty business results from continuing operations.","Recast covers Management's Discussion and Analysis and Financial Statements for year ended Dec 31, 2024.","No changes to other disclosures in the 2024 Form 10-K; subsequent events note updated."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125607,"accession_number":"0001628280-25-053695","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-11-24T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Bakkt subscribes for 47.5M warrants in Transchem Ltd for $10M, eyes Indian stock broking target","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Bakkt to purchase 47,500,000 warrants from Transchem Ltd (BSE listed) for ~$10M, exercisable within 18 months.","Transchem has identified a potential acquisition target in India engaged in stock broking, registered with SEBI.","Investment includes option for additional warrants; subject to shareholder and regulatory approvals.","Potential corporate name change, rebranding, and management changes expected upon deal completion.","No definitive agreements yet; Bakkt will provide updates on structure, governance changes in due course."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125606,"accession_number":"0001628280-25-052422","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-11-14T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"Two directors resign; CEO Naheta's PSU award amended to allow earlier vesting","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Director Michelle Goldberg resigned Nov 8, 2025; Jill Simeone resigned Nov 7, 2025; neither due to disagreement. Their unvested RSUs (16,543 each) vested.","CEO Akshay Naheta's PSU agreement amended to vest upon achievement of performance conditions even if less than one year from grant date.","Amendment documented in Amended & Restated Employment Agreement and PSU Agreement filed as Exhibits 10.1 and 10.2."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125605,"accession_number":"0001628280-25-051201","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-11-12T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Bakkt Reports Q3 2025 Revenue of $402.2M, Up 27% YoY, and Adjusted EBITDA of $28.7M","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["GAAP revenue $402.2M, up 27% year-over-year; GAAP net loss $23.2M from warrant liability mark-to-market","Adjusted EBITDA $28.7M, up 241% year-over-year; ended quarter with $64.4M cash and no long-term debt","Completed sale of Loyalty business on October 1, 2025, and closed Up-C collapse on November 3, 2025","Appointed Richard Galvin to Board of Directors; added Mike Alfred and Lyn Alden to strengthen governance","Company now focused on three growth engines: Bakkt Markets, Bakkt Agent, and Bakkt Global"],"consensus_eps_estimate":null,"consensus_eps_actual":-2.5,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2025-Q3","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.9,"calibrated_materiality_score":0.9,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125604,"accession_number":"0001193125-25-275602","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-11-12T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Bakkt holds Q3 2025 earnings call; filing lacks specific financial data","summary_kind":"llm","event_type":"earnings","confidence":"low","bullets":["Company held earnings call for Q3 ended September 30, 2025, but filed exhibits contain only introductory script and presentation cover.","No revenue, EPS, segment results, or guidance figures are provided in the 8-K exhibits as filed.","Investors must listen to the call or wait for a subsequent filing for actual financial results."],"consensus_eps_estimate":null,"consensus_eps_actual":-2.5,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2025-Q3","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.2,"calibrated_materiality_score":0.2,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125594,"accession_number":"0001193125-25-272524","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K/A","filed_at":"2025-11-07T23:59:59+00:00","items":["5.02"],"status":"ready","headline":"Bakkt Holdings files 8-K/A to correct executive officer table error","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Amendment corrects inadvertent submission error in Item 5.02 of the original Nov 3, 2025 8-K.","Corrected table lists: Akshay Naheta (CEO, 43), Karen Alexander (CFO, 54), Nicholas Baes (COO, 46), Marc D'Annunzio (GC, 53).","Original report unchanged except for the executive officers table replacement."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.05,"calibrated_materiality_score":0.05,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125603,"accession_number":"0001193125-25-262474","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-11-03T23:59:59+00:00","items":["5.02","5.07","9.01"],"status":"ready","headline":"Bakkt shareholders approve grant of up to 2M shares of options to management","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Shareholders approved grant of options to purchase up to 2,000,000 shares of Class A Common Stock to select management.","Votes: 10,809,572 for, 1,001,367 against, 7,753 abstain; no broker non-votes.","Options vest quarterly in eight tranches; mandatory and optional exercise components.","Exercise price based on third-party negotiated FMV or grant date FMV (Project Broadway).","Options subject to early exercise provisions and forfeiture upon termination; governed by 2021 Plan with exceptions."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125595,"accession_number":"0001193125-25-262732","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K12B","filed_at":"2025-11-03T23:59:59+00:00","items":["1.01","3.01","5.03","8.01","3.02","3.03","5.01","5.02","9.01"],"status":"ready","headline":"Bakkt completes holding company reorganization; shares continue trading on NYSE as BKKT","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Reorganization effective Nov 3, 2025: Old Bakkt becomes wholly owned sub of New Bakkt; shares convert 1:1.","OpCo merger: New Bakkt issued 7,174,565 shares of Class A common to former unit holders.","TRA contribution amendment: CEO Naheta receives 69,733 Class A shares; ICE receives 465,890 Series A Convertible Preferred shares.","Directors, officers, business, assets, and operations remain unchanged from prior company.","Warrants and equity plans assumed by New Bakkt; Class A common continues trading under symbol BKKT."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125602,"accession_number":"0001628280-25-047840","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-10-31T23:59:59+00:00","items":["5.02","7.01","9.01"],"status":"ready","headline":"Bakkt director David Clifton resigns; ICE reaffirms support as major shareholder","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["David Clifton, ICE executive and founding Bakkt board member, resigned effective Oct 31, 2025; no dispute with the company.","Clifton served as ICE's designee under IPO terms and remained two extra years to help build the business.","CEO Akshay Naheta thanked Clifton; ICE's Jeff Sprecher states ICE support for Bakkt has never been stronger.","Bakkt says board is increasingly independent; transformation nearly complete, entering next growth phase in 2026."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.35,"calibrated_materiality_score":0.35,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125601,"accession_number":"0001193125-25-245822","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-10-22T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"Bakkt cuts proposed management option grant from 7.45M to 2M shares, revises vote standard","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Options reduced to 2,000,000 from 7,450,000 on a pro rata basis; exercise price remains $10.00.","Stock price closed at $32.14 on Oct 21, making options deeply in the money vs $8.59 record date.","Special meeting reconvened Oct 31, 2025; vote now requires majority of outstanding shares present.","Forfeited options may be reallocated to future service providers on same terms.","Board reiterates recommendation to vote FOR the amended proposal."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125600,"accession_number":"0001628280-25-045560","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-10-21T23:59:59+00:00","items":["5.02"],"status":"ready","headline":"Bakkt appoints Lyn Alden to board of directors, expanding board to eight members","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Board increased from seven to eight members; Madelyn Alden Schwartzer (Lyn Alden) appointed as Class II director.","Lyn Alden is a private investor, best-selling author of 'Broken Money', and board member at Swan Bitcoin.","She is independent under NYSE rules; will receive standard non-employee director compensation.","Ms. Alden also serves as general partner at Ego Death Capital and founder of Lyn Alden Media."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125599,"accession_number":"0001193125-25-242750","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-10-20T23:59:59+00:00","items":["1.01","3.02","7.01","9.01"],"status":"ready","headline":"Bakkt to simplify capital structure, eliminate Up-C, transition to single-class common stock by Nov 3","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Company to reorganize into NewCo; each share of Class A common stock exchanged for one share of NewCo common stock.","Pre-IPO investors' Class V common stock replaced with NewCo common stock; all shareholders will hold single class with identical rights.","TRA amendment: ICE and CEO Naheta contribute TRA rights to NewCo in exchange for NewCo Class A common stock, net-settled.","Estimated issuance of ~655,500 shares to ICE and ~69,750 shares to Naheta based on assumed stock price of $38.","Reorganization expected to close on or about November 3, 2025; warrants will be exchanged for equivalent NewCo warrants."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125598,"accession_number":"0001193125-25-237364","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-10-14T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Bakkt Holdings amends options proposal, adjourns special meeting to Oct 31","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["Special meeting on Oct 7, 2025 adjourned without opening polls to allow further proxy solicitation.","Company will amend the Options Proposal and reconvene on Oct 31, 2025 at 1:00 p.m. ET.","Stockholders will vote only on the Amended Options Proposal; new proxy materials to be filed.","Original proposal was a one-time grant of options to select management members."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125597,"accession_number":"0001193125-25-234538","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-10-08T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"Bakkt Holdings special meeting adjourned after insufficient votes for Options Proposal","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Options Proposal lacked sufficient votes; adjournment approved with 10,529,967 votes in favor.","Special meeting reconvened to Oct 31, 2025 at 1:00 pm ET; record date remains Sep 3, 2025.","Company continues soliciting additional proxies for the Options Proposal; polls not yet opened."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.15,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125596,"accession_number":"0001628280-25-043317","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-10-01T23:59:59+00:00","items":["1.01","2.01","7.01","9.01"],"status":"ready","headline":"Bakkt completes Loyalty sale for $18.9M; becomes pure-play digital asset platform","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Sale closed Oct 1, 2025; Opco delivered $18,876,950 cash including $9,974,000 agreed amount plus working capital adjustments.","$2.5M placed in escrow ($1M indemnity, $1.5M working capital adjustment); ~$5M restricted cash loaned via subordinated notes.","Loyalty business to be reported as discontinued operations starting Q3 2025.","CEO Akshay Naheta says sale streamlines operations, strengthens balance sheet, sharpens focus on Bitcoin, tokenization, stablecoin payments, and AI finance.","Transaction positions Bakkt as a pure-play digital asset infrastructure platform."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":142335,"accession_number":"0001628280-25-042251","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-09-22T23:59:59+00:00","items":["5.02"],"status":"ready","headline":"Bakkt director De'Ana Dow resigns; Michael Alfred appointed Class II director","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["De'Ana Dow resigned as director and from Audit & Risk Committee effective Sept 17, 2025; no disagreement with company.","10,500 unvested RSUs from current director compensation cycle vested on her separation date.","Michael Alfred appointed as Class II director filling vacancy; Board determined independent.","Alfred currently serves on IREN (NASDAQ: IREN) board and was CEO of Digital Assets Data.","Alfred will receive standard non-employee director compensation per 2025 proxy statement."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.25,"calibrated_materiality_score":0.25,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":142334,"accession_number":"0001193125-25-203599","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-09-15T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Bakkt redeems remaining $7.5M convertible debenture with 5% premium on Sept 15","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Redeemed outstanding $7,500,000 principal of 0.00% convertible debenture due June 2026 for $7,875,000 (5% premium).","Original $25M debenture issued June 17, 2025; $17.5M had previously been converted into Class A common stock.","Reduction of debt reduces potential dilution from future conversions but uses cash reserves."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":142333,"accession_number":"0001820302-25-000005","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-08-29T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Bakkt Holdings updates on Public offboarding, MHT meeting, and IDT custody LOI","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Public Platform LLC (9.4% of 2024 crypto revenue, 14.5% in H1 2025) will offboard customers by October 31, 2025.","Bakkt expects MHT shareholder meeting in October 2025 to vote on corporate purpose change and issuance of preferred stock and warrants.","Bakkt finalized commercial agreement with DTR and continues work to close sale of loyalty/travel redemption business in Q3 2025.","Bakkt signed nonbinding LOI with ICE Digital Trust for custody services for corporate treasury and resale to third parties."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":142332,"accession_number":"0001193125-25-178246","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-08-12T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"Bakkt Co-CEO Andrew Main departs Aug 11; Akshay Naheta becomes sole CEO","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Andrew Main resigns as Co-CEO and President effective Aug 11, 2025; will serve as advisor through sale of Loyalty business.","Main receives $1.5M severance (2x salary + target bonus + COBRA) and accelerated vesting of unvested RSUs/PRSUs.","Akshay Naheta appointed sole CEO and President effective Aug 11, 2025.","Director Gordon Watson resigns effective Aug 11, 2025; board size reduced to seven.","Departures are not due to any disagreement with the company's operations or policies."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":142331,"accession_number":"0001628280-25-039613","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-08-11T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Bakkt Reports Q2 2025 Results; Andy Main Steps Down, Akshay Naheta Named CEO","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Raised $75M to strengthen balance sheet and Bitcoin Treasury Strategy.","Acquired ~30% of Tokyo-listed MarushoHotta Co. LTD (TSE: 8105) to initiate Japan Bitcoin Strategy.","Andy Main stepped down as Co-CEO; Akshay Naheta becomes CEO effective August 11, 2025.","Net loss improved 15.1% YoY to $30.2M; Adjusted EBITDA loss improved 29.9% YoY to $12.6M.","Completed sale of Bakkt Trust to ICE and signed definitive agreement to divest Loyalty business."],"consensus_eps_estimate":null,"consensus_eps_actual":-1.05,"consensus_revenue_estimate":null,"consensus_revenue_actual":1652792000.0,"consensus_period":"2025-Q2","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":142330,"accession_number":"0001628280-25-039333","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-08-08T23:59:59+00:00","items":["5.03","5.07","9.01"],"status":"ready","headline":"Bakkt shareholders authorize 10x increase in Class A shares to 560M","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Stockholders voted 7,618,995 for, 2,865,167 against to increase authorized Class A shares from 60M to 560M.","Total authorized common shares increased from 70 million to 570 million.","Special meeting held Aug 6, 2025; 74.3% voting power present and voted.","Amendment to certificate of incorporation filed Aug 7, 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":142329,"accession_number":"0001628280-25-038417","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-08-06T23:59:59+00:00","items":["1.01","7.01","9.01"],"status":"ready","headline":"Bakkt to acquire ~30% of MarushoHotta, rename it bitcoin.jp as part of Bitcoin treasury strategy","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Bakkt signs share purchase agreement with RIZAP Group to acquire ~30% of Tokyo-listed MarushoHotta (TSE:8105), becoming largest shareholder.","MHT to be renamed bitcoin.jp, subject to shareholder approval; Bakkt has acquired the domain bitcoin.jp.","Phillip Lord, President of Bakkt International, to become CEO of MHT.","Transaction kick-starts Bakkt's multinational Bitcoin treasury strategy; co-CEO cites Japan's favorable regulatory environment.","Also on July 31, Bakkt entered a commercial agreement with DTR (controlled by co-CEO Akshay Naheta) for payments and crypto integration."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":142328,"accession_number":"0001193125-25-169353","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-07-30T23:59:59+00:00","items":["1.01","1.02","5.02","7.01","9.01"],"status":"ready","headline":"Bakkt closes $75M public offering, repays ICE credit facility, grants $74.5M options","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Gross proceeds ~$75M from 6,753,627 shares at $10.00 and 746,373 pre-funded warrants at $9.9999 each.","Net proceeds to purchase Bitcoin and other digital assets, working capital, and general corporate purposes.","Terminated $40M ICE Credit Facility on July 30, 2025; repaid all outstanding principal, interest, and fees.","Board approved one-time $74.5M stock option pool for 10 employees, subject to stockholder approval, with mandatory quarterly exercise.","Underwriters have 30-day option to purchase up to an additional 1,125,000 shares at the offering price."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":142327,"accession_number":"0001628280-25-036239","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-07-28T23:59:59+00:00","items":["1.01","2.02","9.01"],"status":"ready","headline":"Bakkt sells loyalty business for $1 plus $11M cash; Q2 rev ~$578M, crypto costs ~$565M","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Definitive agreement to sell loyalty business (Bridge2 Solutions) to Roman DBDR subsidiary for $1 plus $11M cash and adjustments.","Preliminary Q2 2025 total revenue estimated at $577-579M; crypto gross revenue $568-569M.","Net loyalty revenue $9-10M; cash & restricted cash $60-62M; net operating cash burn $13-15M.","Loyalty business to be reported as discontinued operations starting Q3 2025; company refocuses on crypto infrastructure."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160359,"accession_number":"0001193125-25-142918","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-06-20T23:59:59+00:00","items":["1.01","2.03","3.02","5.03","5.07","9.01"],"status":"ready","headline":"Bakkt issues $25M convertible debenture at 5% discount; authorized shares doubled to 60M","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Sold $25M convertible debenture to YA II PN for net proceeds of $23.75M; 0% interest (18% on default), 1-year maturity.","Conversion price equals lower of $14.51 or 97% of 5-day VWAP (floor $2.418); capped at 4.99% beneficial ownership.","Authorized Class A common shares increased from 30M to 60M (total common from 40M to 70M) via stockholder vote.","Annual meeting results: 3 directors elected; 2021 omnibus incentive plan amendment approved; say-on-pay frequency set at 1 year.","ICE credit facility amended to permit this convertible debenture transaction; proceeds for working capital."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160358,"accession_number":"0001628280-25-031314","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-06-13T23:59:59+00:00","items":["4.01","9.01"],"status":"ready","headline":"Bakkt Holdings dismisses KPMG as auditor; appoints Grant Thornton LLP","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Dismissed KPMG effective June 9, 2025; FY2024 audit report was unqualified with no adverse opinion.","No disagreements with KPMG during FY2024 or through June 9, 2025 interim period.","Only reportable event was material weakness in internal controls disclosed in Q1 2024 10-Q.","Appointed Grant Thornton LLP as independent auditor for FY2025, effective June 9, 2025.","KPMG furnished a letter to the SEC, filed as Exhibit 16.1, agreeing with disclosure statements."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160357,"accession_number":"0001628280-25-030475","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-06-10T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Bakkt adjourns 2025 annual meeting to June 17 to allow vote on Bitcoin treasury policy","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Annual meeting adjourned without opening polls; reconvened June 17, 2025 at 10:00 AM ET.","Adjournment to allow stockholders more time to consider amendments to investment policy for allocating capital into Bitcoin and other digital assets.","Company filed supplementary proxy material on June 10, 2025 regarding the Bitcoin treasury strategy.","Record date remains April 14, 2025; only stockholders of record on that date can vote.","No changes to proposals; company continues to solicit proxies until reconvened meeting."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160356,"accession_number":"0001193125-25-138191","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-06-10T23:59:59+00:00","items":["7.01","8.01","9.01"],"status":"ready","headline":"Bakkt updates investment policy to allocate capital into Bitcoin and other digital assets","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Bakkt board approved revised investment policy to allocate excess cash and financing proceeds into Bitcoin and other digital assets.","Company may issue convertible notes, bonds, or other debt instruments to fund the purchase of digital assets.","As of June 10, 2025, Bakkt has not purchased any Bitcoin or other digital assets under the revised policy.","Annual meeting adjourned to June 17, 2025 to allow stockholder consideration of proxy supplement on digital asset strategy.","Proxy supplement notes authorized shares may be used for equity lines-of-credit or ATM programs in connection with strategy."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160355,"accession_number":"0001628280-25-024702","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-05-12T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Bakkt Q1 net income $16.2M vs loss year ago; enters DTR cooperation for stablecoin payments","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net income of $16.2M (vs $21.3M loss in Q1 2024); total revenues $1,074.9M (+25.8% YoY).","Operating loss improved 41.8% YoY to $18.5M; adj. EBITDA loss $14.5M (vs $16.3M YoY).","Entered cooperation agreement with Distributed Technologies Research (DTR) for AI/stablecoin payment infrastructure; commercial agreement expected by Q3 2025.","Appointed Ankit Khemka as CPO and Phillip Lord as President International.","Suspending quarterly guidance; conducting strategic review for cost efficiencies."],"consensus_eps_estimate":null,"consensus_eps_actual":1.13,"consensus_revenue_estimate":null,"consensus_revenue_actual":1074910000.0,"consensus_period":"2025-Q1","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160354,"accession_number":"0001628280-25-018854","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-04-22T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"Bakkt grants 1.6M performance-based RSUs to Co-CEO Akshay Naheta as inducement award","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["1,607,717 PSUs and 11,426 RSUs approved by Compensation Committee on April 21, 2025.","Inducement grant under NYSE Rule 303A.08 without shareholder approval.","Material terms previously disclosed in March 20, 2025 Form 8-K.","Awards subject to standard PSU and RSU agreements filed as exhibits."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":178638,"accession_number":"0001628280-25-015682","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-03-31T23:59:59+00:00","items":["2.03"],"status":"ready","headline":"Bakkt draws $5.0M from ICE revolving credit facility","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Drew $5.0M on March 27, 2025 under ICE Credit Facility dated August 12, 2024.","ICE holds >10% of Bakkt capital stock; affiliate employs director David Clifton.","Facility terms previously disclosed in 2024 Form 10-K Liquidity section."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":178637,"accession_number":"0001628280-25-013900","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-03-20T23:59:59+00:00","items":["1.01","5.02","9.01"],"status":"ready","headline":"Bakkt enters cooperation with DTR for stablecoin payments, appoints Naheta Co-CEO","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["DTR provides exclusive payment tech; Bakkt gets call option to acquire DTR for 19.9%-31.5% of Bakkt shares.","Put option triggers if cumulative payments exceed $2B in any 18-month period.","Akshay Naheta and Andrew Main named Co-CEOs effective March 21, 2025; Naheta also appointed Class I director.","Naheta receives $15M performance-based RSUs tied to stock price milestones and $150K time-based RSUs.","Commercial term minimum 3 years; Bakkt fees: 2.5 bps (US) and 5 bps (international) per payment."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":178634,"accession_number":"0001628280-25-013995","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K/A","filed_at":"2025-03-20T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Bakkt Q4 rev $1.8B (+738% YoY), net loss improves; loses Webull client; appoints co-CEO","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q4 total revenue $1,797.3M (+738% YoY); net loss improved 48.7% to $40.4M; adjusted EBITDA loss $6.4M (66.3% improvement).","Record notional crypto trading volume $1,777.6M (+778% YoY); crypto enabled accounts 6.7M (+8.1% YoY).","Appointed Akshay Naheta as co-CEO alongside Andy Main; strategic partnership with DTR for stablecoin payments.","Signed definitive agreement to divest Bakkt Trust to ICE for $1.5M plus capital assumption; exploring Loyalty sale or wind-down.","Webull not renewing contract (74% of 2024 crypto revenue); Bank of America ending loyalty agreement (~16% loyalty rev)."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":178636,"accession_number":"0001628280-25-013861","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-03-19T23:59:59+00:00","items":[],"status":"ready","headline":"Q4 revenue up 738% YoY; Webull (74% of crypto revenue) not renewing; Bakkt to sell Trust to ICE","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q4 total revenue $1.80B vs $214.5M a year ago; net loss improved 48.7% to $40.4M.","Notional crypto trading volume record $1.78B, up 778% YoY and 465% sequentially.","Webull will not renew contract ending mid-June 2025; represented 74% of 2024 crypto revenue.","Definitive agreement to sell Bakkt Trust to ICE for $1.5M plus assumed costs; closes subject to regulatory approval.","Q1 2025 guidance: total revenue $1.04-1.30B; end-of-quarter cash expected $22-26M."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":178635,"accession_number":"0001628280-25-013121","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2025-03-17T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Bakkt Holdings loses Bank of America (16-17% loyalty rev) and Webull (74% crypto rev) contracts","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Bank of America not renewing; agreement expires April 22, 2025; BoA represented ~16% (2023) and 17% (9M2024) of loyalty revenue.","Webull not renewing; agreement expires June 14, 2025; Webull represented ~74% of crypto services revenue in both periods.","Bakkt may be required to maintain services for up to 12-month transition period for BoA contract."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":195297,"accession_number":"0001628280-24-047879","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2024-11-14T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Bakkt Q3 net loss improves 87.8% to $6.3M; guides FY24 cash usage up to $96M","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total revenues $328.4M (+60.4% YoY); net loss improved 87.8% to $6.3M, benefiting from $20.0M warrant liability gain.","BakktX institutional trading platform tested, client rollout in Q4'24; possible wind-down of Bakkt Trust due to margin compression.","FY24 guidance: loyalty revenue ~$49-50M (lower), gross crypto revenue at lower end of $10-15M, cash usage $84-96M.","November trading volumes surged to $279M in first 12 days, exceeding October's $165M total.","Crypto enabled accounts 6.5M (+6.7% YoY); assets under custody $938.7M (+85.5% YoY); loyalty accounts down 41.6% YoY."],"consensus_eps_estimate":null,"consensus_eps_actual":-4.87,"consensus_revenue_estimate":null,"consensus_revenue_actual":1692899000.0,"consensus_period":"2024-Q3","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":211550,"accession_number":"0001820302-24-000118","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2024-08-14T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Bakkt Q2 revenue $509.9M (+46.7% YoY); net loss improves 29.7% to $35.5M; FY2024 guidance","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total revenue $509.9M (gross crypto $495.1M, net loyalty $12.8M); operating loss improved 56.9% to $22.0M.","Operating expenses ex-crypto costs down 43.1% YoY to $36.8M; cost restructuring and headcount reduction cited.","Crypto enabled accounts 6.4M (+6.7% YoY); transacting accounts fell 39.1% to ~719K due to reduced international activity.","Assets under custody $975M (+47.7% YoY); notional traded volume $672M (+26.6% YoY) on higher crypto prices.","FY2024 revenue guidance $2,568M–$2,827M; net cash used in operations ($72M)–($79M); year-end cash $35M–$42M."],"consensus_eps_estimate":null,"consensus_eps_actual":-4.66,"consensus_revenue_estimate":null,"consensus_revenue_actual":1364480000.0,"consensus_period":"2024-Q2","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":211549,"accession_number":"0001820302-24-000111","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2024-07-19T23:59:59+00:00","items":["5.02"],"status":"ready","headline":"Director Richard Lumb resigns; Colleen Brown appointed as Class III director and Audit Committee member","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Richard Lumb resigned as director and Audit Committee member effective July 16, 2024; no disagreement with company.","Board appointed Colleen Brown as Class III director on July 19, 2024, filling the vacancy.","Brown also appointed to Audit Committee; determined independent and qualifies as audit committee financial expert.","Brown is former President/CEO of Fisher Communications; serves on boards of TrueBlue, Big 5 Sporting Goods, and others."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.45,"calibrated_materiality_score":0.45,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":211548,"accession_number":"0001820302-24-000108","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2024-07-12T23:59:59+00:00","items":["5.02"],"status":"ready","headline":"Bakkt appoints Joe Henderson as Chief Accounting Officer effective July 8, 2024","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Joe Henderson, 53, appointed VP, CAO and Principal Accounting Officer effective July 8, 2024.","Previously Director, Technical Accounting & SEC Reporting at Azenta (2023) and BioXcel Therapeutics (2022-2023).","Annual base salary of $245,000; one-time RSU award of ~$14,000 vesting over three years.","No arrangements with any other person; no family relationships with directors or executives."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.35,"calibrated_materiality_score":0.35,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":230238,"accession_number":"0001820302-24-000103","cik":1820302,"company_name":"Bakkt, Inc.","ticker":"BKKT","form_type":"8-K","filed_at":"2024-06-07T23:59:59+00:00","items":["4.01","9.01"],"status":"ready","headline":"Bakkt Holdings dismisses Ernst & Young, appoints KPMG as new auditor","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Audit Committee dismissed EY effective June 3, 2024; no disagreements in EY's reports for FY 2022 and 2023.","Appointed KPMG as independent auditor for fiscal year ending December 31, 2024.","EY reports had no adverse opinion, but Q1 2024 10-Q disclosed a material weakness in internal controls.","Company still remediating the material weakness; KPMG authorized to inquire with EY."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":512595661.67908555,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null}],"next_cursor":"2024-06-07T23:59:59+00:00|230238"}