---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-024702"
form_type: "8-K"
ticker: "BKKT"
cik: "0001820302"
company_name: "Bakkt, Inc."
filed_at: "2025-05-12T23:59:59+00:00"
generated_at: "2026-05-22T00:15:24.136453+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Bakkt Q1 net income $16.2M vs loss year ago; enters DTR cooperation for stablecoin payments

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-25-024702
- form_type: 8-K
- ticker: BKKT
- cik: 0001820302
- company_name: Bakkt, Inc.
- filed_at: 2025-05-12T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1820302/000162828025024702/0001628280-25-024702-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1820302/000162828025024702/bakkt-20250512.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-024702
- JSON: https://secwatch.observer/filing/0001628280-25-024702.json
- Plain text: https://secwatch.observer/filing/0001628280-25-024702.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.