{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-26-018400","form_type":"8-K","ticker":"BKKT","cik":"0001820302","company_name":"Bakkt, Inc.","filed_at":"2026-03-17T23:59:59+00:00","discovered_at":"2026-05-14T18:02:36.340409+00:00","generated_at":"2026-05-15T10:44:59.009869+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Bakkt FY2025 revenue $2,335.2M, down 32%; net loss $132.2M; restructures platform","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-26-018400","json":"https://secwatch.observer/filing/0001628280-26-018400.json","markdown":"https://secwatch.observer/filing/0001628280-26-018400.md","text":"https://secwatch.observer/filing/0001628280-26-018400.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1820302/000162828026018400/0001628280-26-018400-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1820302/000162828026018400/bakkt-20260316.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T10:44:59.009869+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"}