AI Earnings Predictions for Bakkt Holdings Inc. (BKKT)

EX-99.1

2 q326earningsrelease991fi.htm

EX-99.1

q326earningsrelease991fi

Bakkt Reports Third Quarter 2026 Results and Sets First-Half 2027 Total Transacting Volume Target of $6 Billion - Total Transacting Volume (“TTV”) of $147.9 million in Q3 bringing nine-month TTV to $557.9 million - Company reiterates its $3 billion full-year 2026 TTV target1 - Establishes 1H’27 TTV target of $6 billion as client activations accelerate under the expanded commercial team1 - Monthly Active Users (“MAUs”) of 9,760 in September 2026, the first reported period; reiterates December 2026 target of approximately 25,0004 - GAAP net income of $14.3 million, EPS of $0.31 per diluted share ATLANTA, GA – November 9, 2026 – Bakkt, Inc. ("Bakkt," "Company," "we" or "us") (NYSE: BKKT) announced its financial and operational results for the quarter and nine months ended September 30, 2026 and provided an update on certain business developments. Management Commentary: “The foundation is built, and the commercial ramp is underway. The measure that matters from here is volume: we are reiterating our target of approximately $3 billion of Total Transacting Volume for 2026, setting a target of approximately $6 billion for the first half of 2027, and we will report what we deliver every month,” said Akshay Naheta, CEO of Bakkt. “Both targets rest on the existing pipeline. Our full-year target implies approximately $2.4 billion of Total Transacting Volume in the fourth quarter, and we are reiterating it because the ramp has started: the institutional and cross-border clients driving it were integrating during the third quarter, activations began in October, and we expect them to increase significantly from November. A commercial team now in seat is converting that pipeline, and once a client is live its settlement, treasury and payments flows are expected to recur. The first-half 2027 target assumes a fuller period of contribution from those activations and further launches.1 “Beginning in December, the monthly Bakkt Engine Report will show the completed month’s Total Transacting Volume and its annualized run rate, so shareholders can follow the ramp between quarterly reports. Monthly Active Users on our payment rails were 9,760 in September against a target of approximately 25,000 for December;4 Bakkt Agent’s Embedded Finance is available to partners today; and Strategic Asset Value in Bakkt Global reached $145.2 million. The best of Bakkt is ahead of us, and we intend to show it month by month.” “Our third-quarter results reflect a lower operating cost base year over year and a balance sheet with no long-term debt,” said Matt White, CFO of Bakkt. “Operating expenses excluding crypto costs and execution, clearing and brokerage fees were $16.1 million, down 40% from the prior- year quarter, and our Adjusted EBITDA loss narrowed by $3.0 million to $11.8 million on a consistent basis. We ended the quarter with $37.3 million of cash and restricted cash, and our focus is on converting commercial activity into improved operating performance.” 1 The full-year 2026 and first-half 2027 targets are forward-looking statements and are subject to the risks and uncertainties described under “Note on Forward-Looking Statements.” They assume that client integrations and activations currently underway progress through compliance, banking and launch stages on the timelines management currently anticipates, with activity ramping during November and December 2026 and continuing to scale through the first half of 2027; that activated clients sustain and grow their transaction activity; and that market conditions remain consistent with recent experience. Actual results will depend on client implementation, partner, banking and regulatory requirements, and market conditions, and may differ materially.

Recent Operational Updates: ● Commercial Organization Expansion: In September 2026 the Company appointed Mark Hiriart as Global Head of Markets and Aman Ghose as Senior Vice President, Institutional Partnerships and Growth, and in October 2026 Gerry Afentakis as Managing Director, Europe. Under Chief Commercial Officer Daniel Ishag, the team is focused on activating clients already in integration and expanding their use of the platform’s available products: digital asset and cross-border trading execution, stablecoin on- and off-ramps, cross-border payments and Bakkt Agent Embedded Finance modules. The Company is also building a cross-border trading desk to serve non-U.S. institutional clients, with an initial launch targeted for the fourth quarter of 2026, subject to banking, documentation and technology readiness and applicable approvals. ● Bakkt Payments Portal: The Bakkt Payments Portal is live for business clients, which can connect bank accounts and wallets, convert between cash and stablecoins, and pay beneficiaries from one interface. Availability and features depend on client onboarding, jurisd

bakkt-20260810

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)

August 10, 2026

Bakkt, Inc.

(Exact name of registrant as specified in its charter)

Delaware 001-39544 41-2324812

(State or other jurisdiction of incorporation) (Commission

File Number)

(IRS Employer

Identification No.)

3280 Peachtree Road NE, 7th Floor

Atlanta, Georgia

30305

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (332) 203-3017

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange

on which registered

Class A Common Stock, par value $0.0001 per share

BKKT

The New York Stock Exchange

Warrants to purchase Class A Common Stock

BKKT WS

The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02     Results of Operations and Financial Conditions.

On August 10, 2026, Bakkt, Inc. (the “Company”) issued a press release regarding the Company’s results for the quarter ended June 30, 2026. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

The information in this Item 2.02, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor shall it be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01     Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.Description

99.1

Press release issued by Bakkt, Inc. on August 10, 2026

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

Dated: August 10, 2026

BAKKT, INC.

By:/s/ Marc D'Annunzio

Name:Marc D’Annunzio

Title:General Counsel and Secretary

bakkt-20260511

0001820302FALSEMay 11, 202600018203022026-05-112026-05-110001820302us-gaap:CommonClassAMember2026-05-112026-05-110001820302us-gaap:WarrantMember2026-05-112026-05-11

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)

May 11, 2026

Bakkt, Inc.

(Exact name of registrant as specified in its charter)

Delaware 001-39544 41-2324812

(State or other jurisdiction of incorporation) (Commission

File Number)

(IRS Employer

Identification No.)

3280 Peachtree Road NE, 7th Floor

Atlanta, Georgia

30305

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (332) 203-3017

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange

on which registered

Class A Common Stock, par value $0.0001 per share

BKKT

The New York Stock Exchange

Warrants to purchase Class A Common Stock

BKKT WS

The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02     Results of Operations and Financial Conditions.

On May 11, 2026, Bakkt Holdings, Inc. (the “Company”) issued a press release regarding the Company’s results for the quarter ended March 31, 2026. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

The information in this Item 2.02, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor shall it be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01     Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.Description

99.1

Press release issued by Bakkt Holdings, Inc. on May 11, 2026

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

Dated: May 11, 2026

BAKKT, INC.

By:/s/ Marc D'Annunzio

Name:Marc D’Annunzio

Title:General Counsel and Secretary