{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-25-051201","form_type":"8-K","ticker":"BKKT","cik":"0001820302","company_name":"Bakkt, Inc.","filed_at":"2025-11-12T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.607540+00:00","generated_at":"2026-05-16T21:26:40.443521+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Bakkt Reports Q3 2025 Revenue of $402.2M, Up 27% YoY, and Adjusted EBITDA of $28.7M","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"],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-25-051201","json":"https://secwatch.observer/filing/0001628280-25-051201.json","markdown":"https://secwatch.observer/filing/0001628280-25-051201.md","text":"https://secwatch.observer/filing/0001628280-25-051201.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1820302/000162828025051201/0001628280-25-051201-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1820302/000162828025051201/bakkt-20251110.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud","generated_at":"2026-05-16T21:26:40.443521+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}