BKKT
Bakkt Holdings, Inc.11.15
+0.47+4.4%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
DTR smooths tech; balance sheet wins deals
Q&A largely reaffirmed Investor Day's bullish script on Bakkt's engines and 2025 turnaround, but surfaced execution nuggets. Recapitalized balance sheet emerged as a partnership magnet, quelling stability fears for stablecoin volumes. DTR folds in seamlessly, erasing pre-acquisition tech rough edges for Markets' stablecoin ramps—now U.S.-ready with live integrations. Agent eyes 90-country reach by year-end via local rails. Vast $44T cross-border TAM dwarfs rivals; distribution trumps all. DTR fixes old hurdles fast. Investors track near-term telco embeds and MAUs.
Key Stats
Market Cap
268.03MP/E (TTM)
-Basic EPS (TTM)
-5.71Dividend Yield
0%Recent Filings
8-K
Bakkt prices $48M offering
Bakkt closed a $48.125M registered direct offering on March 2, 2026, selling 3.0M shares and pre-funded warrants for 2.5M shares to Alyeska Master Fund at $8.75/share. Gross proceeds fund working capital and strategic initiatives, yet lock-ups bind the company and insiders for 45 days. Dilution hits shareholders hard.
8-K
Q4 revenues near-breakeven
Bakkt reports preliminary Q4 2025 digital asset revenues of $298M-$300M, nearly offset by $297M-$299M in costs, leaving cash at $26M-$28M after heavy operating burn of $19M-$21M on one-offs like Loyalty sale advances and legal fees. Litigation brews over buyer's failure to repay ~$5M Wrong Pockets Cash and notes from the October 1 Loyalty Business divestiture. Investor Day set for March 17.
8-K
ATM shelf for $300M
Bakkt Holdings entered a Sales Agreement on January 16, 2026, with seven agents including Benchmark and Virtu, enabling at-the-market sales of up to $300M in Class A common stock on NYSE. No sales are obligated; execution hinges on market conditions and capital needs. Flexible funding tool, yet dilutive if tapped heavily.
8-K
Bakkt to acquire DTR for 31.5% equity
Bakkt Opco agreed to acquire Distributed Technologies Research Global Ltd from CEO Akshay Naheta via a Share Purchase Agreement dated January 11, 2026. Consideration equals 31.5% of Bakkt's fully diluted shares outstanding pre-closing, adjustable for DTR debt exceeding transaction expenses over $1.5M divided by 20-day VWAP; closes post-stockholder and regulatory nods by July 2026. Special Committee approved as fair; risks hinge on integration.
8-K
Designates X for Reg FD
Bakkt Holdings disclosed on December 15, 2025, its intent to use its official X account @bakkt for Regulation FD disclosures of material non-public information. Investors must now monitor this channel alongside SEC filings, press releases, and the investor relations site. Disclosure not filed under Exchange Act Section 18.
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