Bakkt (NYSE:BKKT) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Bakkt (NYSE:BKKT) posted its quarterly earnings results on Monday. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.10, FiscalAI reports. Bakkt had a negative net margin of 2.78% and a negative return on equity of 41.11%. The company had revenue of $149.20 million during the quarter, compared to analyst estimates of $434.50 million.

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 Trading Up 9.0%

BKKT traded up $0.39 during trading on Monday, reaching $4.69. The stock had a trading volume of 1,285,239 shares, compared to its average volume of 1,462,863. The stock’s 50 day moving average is $6.88 and its two-hundred day moving average is $8.60. The company has a market capitalization of $211.19 million, a price-to-earnings ratio of 10.41 and a beta of 4.70. Bakkt has a one year low of $3.86 and a one year high of $25.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Bakkt from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Benchmark decreased their price objective on shares of Bakkt from $19.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Finally, Weiss Ratings downgraded shares of Bakkt from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 30th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.00.

Insider Buying and Selling at Bakkt

In other Bakkt news, Director Michael Alfred bought 296,567 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was acquired at an average price of $7.12 per share, with a total value of $2,111,557.04. Following the completion of the purchase, the director owned 1,201,567 shares of the company’s stock, valued at approximately $8,555,157.04. This trade represents a 32.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 10.05% of the company’s stock.

About Bakkt

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.