Bakkt Reports Q2 2025 Results; Andy Main Steps Down, Akshay Naheta Named CEO

Bakkt, Inc.

2025-Q2 EPS reported -$1.05 revenue$1,652,792,000

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.

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