secwatch.observer — SEC 8-K summary
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Issuer:     Bakkt, Inc. (BKKT)
CIK:        0001820302
Form:       8-K
Filed at:   2026-01-20T23:59:59+00:00
Accession:  0001193125-26-015873
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bakkt prelim Q4 rev $298-300M, cash $26-28M; sues for $5M; invests $10M in India warrants
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1820302/000119312526015873/0001193125-26-015873-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1820302/000119312526015873/d51133d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-015873

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