Every material Form 8-K Bakkt, Inc. has filed with the SEC since June 04, 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Bakkt reported third-quarter 2026 revenue of $149.2 million, down 62.9% from $402.2 million a year earlier, mainly due to lower crypto trading volume and the loss of clients. The company posted net income of $14.3 million, or $0.31 per diluted share, versus a net loss of $14.9 million in Q3 2025, and the filing notes the result includes a $26.8 million non-cash gain on the Transchem warrants. It reiterated a full-year 2026 Total Transacting Volume target of approximately $3 billion and set a first-half 2027 target of approximately $6 billion.
Q3 2026 total revenue was $149.2 million versus $402.2 million in Q3 2025; net income attributable to Bakkt was $14.3 million, or $0.31 per diluted share
Adjusted EBITDA loss narrowed to $11.8 million from $14.8 million in Q3 2025 on a consistent basis
TTV was $147.9 million for Q3 2026; the company reiterated its approximately $3 billion full-year 2026 target and set an approximately $6 billion first-half 2027 target
Cash, cash equivalents and restricted cash were $37.3 million as of September 30, 2026, versus $50.7 million as of June 30, 2026
Bakkt said CFO Karen Alexander left the role effective August 14, 2026, and that the separation was not the result of any disagreement with management or the external auditor. Matt White, a former CFO of CoreCard Corporation, became Bakkt's CFO effective August 17, 2026, with a $300,000 base salary and equity awards priced at $10.00 per share.
Karen Alexander's CFO role and employment ended effective August 14, 2026; she will serve as an advisor until December 31, 2026.
Matt White, age 44, was appointed CFO effective August 17, 2026, after serving as CFO and Corporate Secretary of CoreCard Corporation (NYSE: CCRD).
White's package includes a $300,000 base salary, 90,000 RSUs and 60,000 options with a $10.00 exercise price, granted as inducement awards without shareholder approval.
Alexander will receive $400,000 annualized consulting fees, a $200,000 cash payment for forfeited equity awards, and up to $160,000 tied to the Specified Arbitration recovery.
Bakkt reported second-quarter 2026 results with revenue of $170.1 million, down 70.0% from $568.1 million a year earlier, which the company attributed to previously disclosed client transitions and industry-wide softness in digital asset trading volumes. GAAP net income of $80.8 million, or $1.94 per diluted share, was driven by a $98.5 million non-cash gain on the Transchem warrants, while the adjusted EBITDA loss widened to $11.8 million. Shareholders face a sharp revenue decline, and the company reaffirmed its full-year 2026 TTV expectation of approximately $2.5 billion, which depends on client launches ramping in the second half.
Total revenue was $170.1 million in Q2 2026 versus $568.1 million in Q2 2025, a 70.0% decline.
Net income attributable to Bakkt was $80.8 million ($1.94 per diluted share), compared with a net loss of $14.7 million in Q2 2025; the result includes a $98.5 million non-cash gain on Transchem warrants.
Adjusted EBITDA loss was $11.8 million, compared with $9.8 million in Q2 2025.
Cash, cash equivalents and restricted cash were $50.7 million as of June 30, 2026, with no long-term debt; the company continues to expect approximately $2.5 billion of full-year 2026 TTV.
Bakkt said Transchem's Preferential Issue Committee approved the allotment of 47,500,000 warrants to Bakkt Opco Holdings, LLC on June 3, 2026. Bakkt paid $9,409,784 for the warrants, which equals 25% of the total subscription amount and entitle the holder to acquire Transchem ordinary shares. The filing is a routine update on a previously reported investment and does not report operating results.
Allotment of 47,500,000 warrants approved by Transchem's Preferential Issue Committee on June 3, 2026
Bakkt paid $9,409,784, equal to 25% of the total subscription amount
Original subscription election was reported on November 21, 2025
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