secwatch.observer — SEC 8-K summary
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Issuer:     Bakkt, Inc. (BKKT)
CIK:        0001820302
Form:       8-K
Filed at:   2026-05-11T20:36:28+00:00
Accession:  0001628280-26-033588
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1820302/000162828026033588/0001628280-26-033588-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1820302/000162828026033588/bakkt-20260511.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-033588

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer