BKKT · Bakkt, Inc.
$7.75
+0.04 (+0.52%)
At close · Oct 2
Return incl. dividend (before tax)
Market Cap
$365.06M
Shares
45.07M
Volume · Oct 2
1.35M
Avg daily vol (3M)
1.25M
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$7.71
Open$7.77
Day$7.63–7.96
52W close$6.85–45.04
Avg vol 30d1.5M
Short int6.1M · 13.6% float · 6.6d
Short vol62%
Last earningsAug 10, 2026
DataNov 2020–Oct 2026
Filing10-Q · Aug 10
Up next
Next earnings call
Nov 9, 2026
Est · unconfirmed
· in 5 wks
filed Aug 10, 2026
call held Aug 10, 2026
Metrics snapshot
Useful current figures from the complete screener profile.
Revenue (TTM)
$3.73B
Trailing 12 months
Net income (TTM)
−$39.52M
Trailing 12 months
Revenue growth YoY
+13.3%
Year over year
Operating margin
-6.3%
Trailing 12 months
P / E (TTM)
—
Trailing earnings
FCF yield
—
TTM · current market cap
Return on invested capital
—
Trailing 12 months
Net cash
—
Latest balance sheet
Dividend yield
—
Trailing 12 months
Shares change YoY
+510.8%
Year over year · more shares
Price change (1Y)
-77.4%
Trailing year
Short interest
13.6%
Latest settlement · 6.6 days to cover
AI Brief
Q2 FY26 earnings call · Aug 10, 2026
Q2 FY26
TL;DR. Bakkt reported Q2 GAAP net income of $80.8 million driven by a $98.5M non-cash Transchem warrant gain, while reaffirming its ~$2.5 billion full-year 2026 TTV target and expecting adjusted EBITDA break-even in Q4 2026 as six live offerings and DTR-integrated payments ramp. Revenue fell 70% year-over-year on digital asset trading softness, with Q2 TTV of $168.8M requiring a sharp H2 acceleration to hit the full-year target.
Bullish
- + Reaffirmed full-year 2026 TTV target of approximately $2.5 billion with management confidence
- + Set initial Bakkt Agent MAU target of approximately 25,000 by year-end 2026
- + Expects adjusted EBITDA break-even during Q4 2026
- + Transchem warrants carried at $107.9M fair value versus ~$9.4M paid; Indian regulatory approvals received
Bearish
- − Total revenue fell 70% year-over-year due to client transitions and digital asset trading softness
- − Operating expenses excluding crypto costs rose 7.9% year-over-year including DTR integration costs
- − Full-year target depends on client integrations and activations currently underway proceeding on plan
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Strong Sell
SellHoldBuy
Technical
Sell
Momentum
Weak
Sentiment
Neutral
Fundamentals
Poor
Quant / Vol
Very High
Market backdrop
VIX 16.4 · calm
Equity put/call 0.57
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
−20%
below
Price vs 50-day avg
−2%
below
RSI (14)
46
neutral
MACD trend
Negative
52-week position
2%
near low
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
+4%
trailing
6-month return
−5%
trailing
YTD return
−23%
this year
Relative strength
−18%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $8 › 200d $10 — 200d above 50d
Institutional flow
Distributing
-5% holders QoQ · +15 funds added
Insider flow
Accumulating
Net +$2.1M over 90 days · 80% sells
Short interest
Rising
13.61% of float · ▲ +2.1% MoM · 6.6 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
104 holders — mid 3-yr range
Squeeze score
79
high risk · 0–100
Fundamentals
Revenue growth
−32%
Y/Y
EPS growth
−11%
Y/Y
Quant / Vol
risk profile
Volatility
117%
annualized · 1-yr
Max drawdown
−85%
past year
ATR
8.5%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the 8-K filed Aug 10, 2026
Total Transacting Volume (TTV)
· full-year 2026
Initiated
$2.5B
Guided vs delivered
· last 2 settled
Full year 2024 revenues
Full year 2024
guided $2.57B – $2.83B
$3.44B
Beat +27.6%
Full year 2023 revenues
Full year 2023
guided $2.13B – $3.77B
$726.99M
Miss −75.4%
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Sell
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
−20%
Bearish
Price vs 50-day avg
−2%
Neutral
RSI (14)
46
Neutral
MACD trend
Negative
Bearish
52-week position
2%
Bearish
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Bearish · 2 of 6
Trend (MA cross)
No cross
50d $8 › 200d $10 — 200d above 50d
Institutional flow
Distributing
-5% holders QoQ · +15 funds added
Insider flow
Accumulating
Net +$2.1M over 90 days · 80% sells
Short interest
Rising
13.61% of float · ▲ +2.1% MoM · 6.6 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
104 holders — mid 3-yr range
Price context
position in its 52-week range
Range low $7
Now $8 · 2%
Range high $45
vs 200-day avg -20%
vs 50-day avg -2%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA loss non-GAAP | -$11.8M | Q2 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net income (loss) from continuing operations 80.84M
+1.05M Depreciation and amortization
-547K Interest (income) expense, net
+5K Income tax expense
+1.89M Share-based and unit-based compensation expense
-1.42M Change in fair value of warrant liability
-98.5M Change in fair value of Transchem warrant
+1.25M Impairment of long-lived assets
+3.63M Transaction-related advisory fees
= Adjusted EBITDA loss -11.8M
|
|||
| Strategic Asset Value | $118.5M | as of June 30, 2026 | — |
| Total Transacting Volume | $410M | six months ended June 30, 2026 | — |
| Total Transacting Volume - digital asset trading activity non-GAAP | $161.9M | the three months ended June 30, 2026 filing | — |
| Total Transacting Volume - payments activity non-GAAP | $6.8M | the three months ended June 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Software - Infrastructure — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
BKKT
this stock
Bakkt, Inc.
|
$365.06M | -23.2% | -32.1% | — | 13.6% |
|
MSFT
Microsoft Corp
|
$3.83T | +6.0% | +6.9% | 28.8 | 0.9% |
|
PLTR
Palantir Technologies Inc.
|
$455.79B | +6.9% | +56.2% | 162.1 | 2.5% |
|
ORCL
Oracle Corp
|
$414.55B | -29.2% | +17.3% | 21.5 | 1.7% |
|
PANW
Palo Alto Networks Inc
|
$306.54B | +115.1% | +29.0% | — | 2.7% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Earnings & Events
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| BKKT | -15.1% | +3.8% | -5.2% | -1.3% | -23.2% |
| SPY | -0.4% | -0.2% | +12.4% | +0.2% | +12.0% |
| vs SPY | -14.7% | +3.9% | -17.6% | -1.5% | -35.3% |