---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-033588"
form_type: "8-K"
ticker: "BKKT"
cik: "0001820302"
company_name: "Bakkt, Inc."
filed_at: "2026-05-11T20:36:28+00:00"
generated_at: "2026-05-11T20:39:30.455462+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Bakkt Q1 revenue $243.6M (down 77% YoY); net loss $11.7M; completes DTR acquisition

## Summary
- Total revenue $243.6M vs $1.065.8B in Q1 2025; crypto costs and fees $242.0M.
- Net loss attributable $11.7M vs net income $7.7M; prior year had $32.2M warrant gain.
- Adjusted EBITDA loss $13.7M, up from $11.7M loss; controllable opex $18.5M.
- Cash and equivalents $82.6M; no long-term debt; closed DTR all-stock acquisition on April 30.
- Appointed Daniel Ishag as CCO; signed MoU with Zoth for stablecoin payments in Global South.

## SEC filing metadata
- accession: 0001628280-26-033588
- form_type: 8-K
- ticker: BKKT
- cik: 0001820302
- company_name: Bakkt, Inc.
- filed_at: 2026-05-11T20:36:28+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1820302/000162828026033588/0001628280-26-033588-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1820302/000162828026033588/bakkt-20260511.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-033588
- JSON: https://secwatch.observer/filing/0001628280-26-033588.json
- Plain text: https://secwatch.observer/filing/0001628280-26-033588.txt

## Key facts
- Earnings Releases
  Bakkt, Inc. reported the quarter ended March 31, 2026 results: revenue $243.6 million, net income $11.7 million.
  - Period: the quarter ended March 31, 2026
  - Revenue: $243.6 million
  - Net income: $11.7 million
  - Result: reported results
  source text: Total revenue was $243.6 million, compared with $1,065.8 million in Q1 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1820302/000162828026033588/0001628280-26-033588-index.htm

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