Highest-materiality recent filing
Bakkt Q1 revenue $243.6M (down 77% YoY); net loss $11.7M; completes DTR acquisition
Total revenue $243.6M vs $1.065.8B in Q1 2025; crypto costs and fees $242.0M.
Bakkt completes acquisition of DTR; issues ~11.3M shares to sellers including CEO
Acquired DTR, a developer of stablecoin and agentic payments infrastructure, for 11,316,775 shares of Class A common stock.
Bakkt stockholders approve issuance of 31.5% of Class A common stock for DTR acquisition
Approved Issuance Proposal with 12,999,817 for, 229,734 against, 36,649 abstain.
Bakkt FY2025 revenue $2,335.2M, down 32%; net loss $132.2M; restructures platform
GAAP revenue $2,335.2M, down 32.1% YoY driven by lower crypto trading volume.
Bakkt raises $48.1M in registered direct offering of common stock and pre-funded warrants
Sold 3,024,799 shares at $8.75 and pre-funded warrants for 2,475,201 shares at $8.7499; gross proceeds ~$48.125M.
Bakkt prelim Q4 rev $298-300M, cash $26-28M; sues for $5M; invests $10M in India warrants
Gross digital asset revenues $298M-$300M; total costs $297M-$299M; gross margin only ~$1M.
Bakkt enters ATM offering agreement to sell up to $300M of Class A common stock
Agreement dated Jan 16, 2026 with 7 sales agents for at-the-market offering of up to $300M of common stock.
Bakkt to acquire DTR from CEO Naheta for ~31.5% stock; name change to Bakkt, Inc.
Bakkt issues 31.5% of its outstanding Class A common stock to acquire Distributed Technologies Research Global from CEO Akshay Naheta.
Bakkt subscribes for 47.5M warrants in Transchem Ltd for $10M, eyes Indian stock broking target
Bakkt to purchase 47,500,000 warrants from Transchem Ltd (BSE listed) for ~$10M, exercisable within 18 months.
Bakkt Reports Q3 2025 Revenue of $402.2M, Up 27% YoY, and Adjusted EBITDA of $28.7M
GAAP revenue $402.2M, up 27% year-over-year; GAAP net loss $23.2M from warrant liability mark-to-market
Bakkt shareholders approve grant of up to 2M shares of options to management
Shareholders approved grant of options to purchase up to 2,000,000 shares of Class A Common Stock to select management.
Bakkt cuts proposed management option grant from 7.45M to 2M shares, revises vote standard
Options reduced to 2,000,000 from 7,450,000 on a pro rata basis; exercise price remains $10.00.
Company to reorganize into NewCo; each share of Class A common stock exchanged for one share of NewCo common stock.
Bakkt completes Loyalty sale for $18.9M; becomes pure-play digital asset platform
Sale closed Oct 1, 2025; Opco delivered $18,876,950 cash including $9,974,000 agreed amount plus working capital adjustments.
Bakkt Holdings updates on Public offboarding, MHT meeting, and IDT custody LOI
Public Platform LLC (9.4% of 2024 crypto revenue, 14.5% in H1 2025) will offboard customers by October 31, 2025.
Bakkt Co-CEO Andrew Main departs Aug 11; Akshay Naheta becomes sole CEO
Andrew Main resigns as Co-CEO and President effective Aug 11, 2025; will serve as advisor through sale of Loyalty business.
Bakkt Reports Q2 2025 Results; Andy Main Steps Down, Akshay Naheta Named CEO
Raised $75M to strengthen balance sheet and Bitcoin Treasury Strategy.
Bakkt shareholders authorize 10x increase in Class A shares to 560M
Stockholders voted 7,618,995 for, 2,865,167 against to increase authorized Class A shares from 60M to 560M.
Bakkt to acquire ~30% of MarushoHotta, rename it bitcoin.jp as part of Bitcoin treasury strategy
Bakkt signs share purchase agreement with RIZAP Group to acquire ~30% of Tokyo-listed MarushoHotta (TSE:8105), becoming largest shareholder.
Bakkt closes $75M public offering, repays ICE credit facility, grants $74.5M options
Gross proceeds ~$75M from 6,753,627 shares at $10.00 and 746,373 pre-funded warrants at $9.9999 each.
Bakkt sells loyalty business for $1 plus $11M cash; Q2 rev ~$578M, crypto costs ~$565M
Definitive agreement to sell loyalty business (Bridge2 Solutions) to Roman DBDR subsidiary for $1 plus $11M cash and adjustments.
Bakkt issues $25M convertible debenture at 5% discount; authorized shares doubled to 60M
Sold $25M convertible debenture to YA II PN for net proceeds of $23.75M; 0% interest (18% on default), 1-year maturity.
Bakkt Holdings dismisses KPMG as auditor; appoints Grant Thornton LLP
Dismissed KPMG effective June 9, 2025; FY2024 audit report was unqualified with no adverse opinion.
Bakkt updates investment policy to allocate capital into Bitcoin and other digital assets
Bakkt board approved revised investment policy to allocate excess cash and financing proceeds into Bitcoin and other digital assets.
Bakkt Q1 net income $16.2M vs loss year ago; enters DTR cooperation for stablecoin payments
Net income of $16.2M (vs $21.3M loss in Q1 2024); total revenues $1,074.9M (+25.8% YoY).
Bakkt Q4 rev $1.8B (+738% YoY), net loss improves; loses Webull client; appoints co-CEO
Q4 total revenue $1,797.3M (+738% YoY); net loss improved 48.7% to $40.4M; adjusted EBITDA loss $6.4M (66.3% improvement).
Bakkt enters cooperation with DTR for stablecoin payments, appoints Naheta Co-CEO
DTR provides exclusive payment tech; Bakkt gets call option to acquire DTR for 19.9%-31.5% of Bakkt shares.
Q4 revenue up 738% YoY; Webull (74% of crypto revenue) not renewing; Bakkt to sell Trust to ICE
Q4 total revenue $1.80B vs $214.5M a year ago; net loss improved 48.7% to $40.4M.
Bakkt Holdings loses Bank of America (16-17% loyalty rev) and Webull (74% crypto rev) contracts
Bank of America not renewing; agreement expires April 22, 2025; BoA represented ~16% (2023) and 17% (9M2024) of loyalty revenue.
Bakkt Q3 net loss improves 87.8% to $6.3M; guides FY24 cash usage up to $96M
Total revenues $328.4M (+60.4% YoY); net loss improved 87.8% to $6.3M, benefiting from $20.0M warrant liability gain.
Bakkt Q2 revenue $509.9M (+46.7% YoY); net loss improves 29.7% to $35.5M; FY2024 guidance
Total revenue $509.9M (gross crypto $495.1M, net loyalty $12.8M); operating loss improved 56.9% to $22.0M.
Bakkt Holdings dismisses Ernst & Young, appoints KPMG as new auditor
Audit Committee dismissed EY effective June 3, 2024; no disagreements in EY's reports for FY 2022 and 2023.
the Board appointed each of Akshay Naheta and Andrew Main, the current President and Chief Executive Officer of the Company, to serve as the Company’s Co-Chief Executive Officers (each a “Co-CEO” and together, the “Co-CEOs”), effective March 21, 2025.
Mr. Naheta also was appointed as a Class I Director of the Board, to serve until the 2025 annual meeting of stockholders.
the Board appointed each of Akshay Naheta and Andrew Main, the current President and Chief Executive Officer of the Company, to serve as the Company’s Co-Chief Executive Officers (each a “Co-CEO” and together, the “Co-CEOs”), effective March 21, 2025.
On July 16, 2024, Richard Lumb resigned, effective immediately, as a director of Bakkt Holdings, Inc. (the “Company”) and as a member of the Audit and Risk Committee (the “Audit Committee”) of the Company’s Board of Directors (the “Board”).
On July 19, 2024, the Board, upon the recommendation of its Nominating and Corporate Governance Committee, appointed Colleen Brown to serve as a Class III director, filling the vacancy created by Mr. Lumb’s resignation.
Bakkt Holdings, Inc. (the “Company”) appointed Joe Henderson, 53, as Vice President, Chief Accounting Officer and Principal Accounting Officer of the Company, effective July 8, 2024.
Upon the effectiveness of Mr. Goodroe’s resignation, Karen Alexander, the Company’s Chief Financial Officer and principal financial officer, will assume the role of the Company’s principal accounting officer.
On April 29, 2024, Charles Goodroe tendered his resignation from his position as Chief Accounting Officer of Bakkt Holdings, Inc. (the “Company”), to be effective as of May 22, 2024.
Max materiality 0.90 · Median 0.65 · Most common event other_material