Bakkt (NYSE:BKKT) Announces Quarterly Earnings Results

Bakkt (NYSE:BKKT) released its quarterly earnings results on Monday. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.37), Zacks reports. The company had revenue of $170.15 million during the quarter, compared to the consensus estimate of $373.27 million. Bakkt had a negative net margin of 8.37% and a negative return on equity of 64.73%.

Here are the key takeaways from Bakkt’s conference call:

• Bakkt maintained its approximately $2.5 billion 2026 Total Transacting Volume target, despite first-half TTV of about $410 million and lower trading activity in the second quarter. Management expects payments and client activations to drive a substantial second-half acceleration.
• The company reported $80.8 million in GAAP net income and ended the quarter with $50.7 million in cash and restricted cash, no long-term debt, and six live commercial offerings following the DTR integration.
• Management expects to reach adjusted EBITDA break-even during the fourth quarter of 2026, supported by anticipated operating leverage as client activations and transaction volumes scale, although the timing depends on the pace and size of those activations.
• Bakkt Agent’s embedded-finance offering is available for partner integration, while co-branded cards and Neobank-as-a-Service are targeted for the fourth quarter; management set an initial goal of approximately 25,000 year-end monthly active users, but meaningful Agent activity has not yet begun.
• Second-quarter TTV was pressured by lower trading activity, and achieving the full-year target requires a significant ramp in the second half. The company also cautioned that TTV is not equivalent to revenue because margins vary widely by product, ranging from a few basis points on some stablecoin flows to substantially higher margins on cross-border payments.

Bakkt Price Performance

Shares of NYSE:BKKT opened at $7.64 on Tuesday. Bakkt has a 1 year low of $6.75 and a 1 year high of $49.79. The business’s 50-day moving average is $8.13 and its 200-day moving average is $9.30. The company has a market capitalization of $340.82 million, a price-to-earnings ratio of -5.58 and a beta of 5.91.

Insider Buying and Selling

In other Bakkt news, Director Michael Alfred purchased 100,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were purchased at an average cost of $7.83 per share, with a total value of $783,000.00. Following the completion of the purchase, the director owned 905,000 shares in the company, valued at $7,086,150. This represents a 12.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased a total of 865,000 shares of company stock worth $7,018,900 over the last ninety days. Company insiders own 10.05% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BKKT. CI Investments Inc. bought a new position in shares of Bakkt during the 4th quarter worth about $102,000. MetLife Investment Management LLC bought a new stake in Bakkt in the 4th quarter valued at about $82,000. New York State Common Retirement Fund raised its stake in Bakkt by 187.5% during the 4th quarter. New York State Common Retirement Fund now owns 4,600 shares of the company’s stock worth $46,000 after buying an additional 3,000 shares during the period. Deutsche Bank AG raised its stake in Bakkt by 116.2% during the 4th quarter. Deutsche Bank AG now owns 10,006 shares of the company’s stock worth $100,000 after buying an additional 5,378 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Bakkt by 268.3% in the third quarter. BNP Paribas Financial Markets now owns 2,158 shares of the company’s stock worth $73,000 after acquiring an additional 1,572 shares in the last quarter. Institutional investors and hedge funds own 11.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wall Street Zen raised Bakkt from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings raised shares of Bakkt from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $22.00.

About Bakkt

Bakkt Holdings, Inc is a digital asset platform that aims to bridge traditional finance and digital assets by offering institutional-grade custody, trading and settlement services. Established in 2018 by Intercontinental Exchange (ICE), the company initially made headlines with the launch of its physically settled Bitcoin futures contracts in 2019. Since then, Bakkt has expanded its product lineup to include spot trading of cryptocurrencies, a secure digital wallet for retail customers and a payment gateway that enables merchants to accept digital assets alongside fiat currencies.

The company’s core offering centers on its custody infrastructure, which is built to meet robust regulatory and security standards.