Bakkt (NYSE:BKKT – Get Free Report) issued its quarterly earnings data on Monday. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.10, FiscalAI reports. The firm had revenue of $149.20 million for the quarter, compared to analyst estimates of $434.50 million. Bakkt had a negative net margin of 2.78% and a negative return on equity of 41.11%.
Here are the key takeaways from Bakkt’s conference call:
- Third-quarter Total Transacting Volume fell to $147.9 million from $168.8 million in Q2. Management’s $3 billion full-year target implies about $2.44 billion in Q4, making timely client activations and sustained usage critical to a steep ramp.
- Bakkt also set a first-half 2027 TTV target of approximately $6 billion, based on its existing integration pipeline and expected growth in client activity. A monthly Bakkt Engine Report is due to begin in December, providing actual volume and its drivers.
- Revenue was $149.2 million, down from $402.2 million a year earlier. GAAP net income of $14.3 million included a $26.8 million non-cash gain on Transchem warrants, while the operating loss was $14.4 million.
- Cost discipline improved results: operating expenses excluding crypto costs and execution fees fell 40% year over year, and adjusted EBITDA loss narrowed to $11.8 million from $14.8 million. Bakkt ended the quarter with $37.3 million in cash and restricted cash and no long-term debt.
- Payment-rail monthly active users were 9,760 in September, the first reported month, against a December target of about 25,000. The company cited a network spanning more than 75 countries and growth opportunities in embedded finance, India, and Japan, though launches and adoption remain subject to partner, regulatory, and other requirements.
Bakkt Stock Performance
Shares of NYSE BKKT opened at $4.69 on Tuesday. The firm has a market cap of $211.20 million, a price-to-earnings ratio of 10.41 and a beta of 4.70. The business’s 50-day simple moving average is $6.82 and its 200-day simple moving average is $8.54. Bakkt has a 52 week low of $3.86 and a 52 week high of $25.00.
Insider Buying and Selling at Bakkt
In related news, Director Michael Alfred acquired 296,567 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were acquired at an average cost of $7.12 per share, with a total value of $2,111,557.04. Following the purchase, the director owned 1,201,567 shares of the company’s stock, valued at approximately $8,555,157.04. The trade was a 32.77% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.05% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Wall Street Zen raised shares of Bakkt from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Benchmark cut their price target on shares of Bakkt from $19.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Finally, Weiss Ratings lowered shares of Bakkt from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 30th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.00.
Read Our Latest Analysis on BKKT
Bakkt Company Profile
Bakkt Holdings, Inc is a digital-asset services company that provides cryptocurrency infrastructure for businesses and institutions. Its platform is designed to support crypto custody, trading and onramp services, enabling customers to buy, sell, hold and transfer digital assets through integrated technology.
The company serves financial institutions, fintech companies, brands and other businesses seeking to offer cryptocurrency-related products without building the underlying infrastructure themselves.
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