Bakkt FY2025 revenue $2,335.2M, down 32%; net loss $132.2M; restructures platform

Bakkt, Inc.

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.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bakkt, Inc. reported financial results for the full year ended December 31, 2025.

Period: the full year ended December 31, 2025
Result: reported results

Exact text from the filing

On March 16, 2026 Bakkt, Inc. (the “Company”) issued a Shareholder Letter (the “Letter”) announcing its financial results for the the full year ended December 31, 2025.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

Bakkt, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-26-018400

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