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GlobeNewswire·

Bakkt Reports Third Quarter 2026 Results and Sets First-Half 2027 Total Transacting Volume Target of $6 Billion

  • Bakkt reported Q3 2026 Total Transacting Volume (TTV) of $147.9 million, bringing nine-month TTV to $557.9 million
  • The company reiterated its full-year 2026 TTV target of $3 billion & established a first-half 2027 TTV target of $6 billion
  • Monthly Active Users (MAUs) reached 9,760 in September 2026, the first reported period, with a December 2026 target of approximately 25,000
  • GAAP net income for Q3 2026 was $14.3 million, representing earnings per share (EPS) of $0.31 on a diluted basis
  • Operating expenses excluding crypto costs & fees decreased 39.7% year-over-year to $16.1 million, while Adjusted EBITDA loss narrowed to $11.8 million
  • Total revenue declined 62.9% to $149.2 million due to lower crypto trading volume, though net income improved significantly from a prior-year loss
  • Cash & restricted cash totaled $37.3 million as of September 30, 2026, with the company maintaining a balance sheet free of long-term debt
  • Strategic Asset Value (SAV) increased to $145.2 million, driven by a $134.8 million fair value position in Transchem warrants
  • The commercial team expanded with new appointments including Global Head of Markets, Senior Vice President of Institutional Partnerships, and Managing Director for Europe
  • The Bakkt Payments Portal launched for business clients to facilitate stablecoin conversions & payments from a single interface
  • Bakkt announced a planned U.S. stablecoin card-as-a-service program with Thredd, scheduled for launch pending regulatory & technical readiness
  • A cross-border trading desk targeting non-U.S. institutional clients is under development with an initial Q4 2026 launch target
  • Matt White serves as Chief Financial Officer following his appointment in August 2026, succeeding Karen Alexander
  • The company plans to begin publishing monthly TTV & Annualized Run-Rate Volume (ARV) reports starting in December 2026
Company
Bakkt, Inc.
Keywords
NYSE:BKKT, Bakkt, Inc.