Bakkt Q3 revenue down 62.9% to $149.2 million; sets $6 billion 1H27 volume target
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.
Key points
- 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
The filing
Written by AI on Nov 9, 2026, 4:46 PM ET, from this filing only.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.