Business
Bakkt builds digital financial infrastructure for institutional participation in digital assets, stablecoin payments, and related financial services.
Bakkt's digital-asset platform reset left revenue, cash flow, and margins weaker despite a CEO purchase signal.
The read at a glance✓ Audited against SEC data
- Business mix — Digital asset infrastructureNote
- Revenue — Revenue down 32.1%Watch
- Loss — Net loss widened to $107.2MWatch
- FCF — FCF fell to -$154.6MWatch
- SBC — SBC up 352.0%Watch
- Insiders — CEO purchases vs 13 salesOK
- Accounting — Altman-Z safe; Beneish flagged; EQ greyWatch
Where the revenue comes from
Fiscal 2025, as Bakkt, Inc. reports it. History and quarterly detail are in the app.
- Transaction revenue$2.3B
- Subscription and service revenue$50K
Leadership changes
From Bakkt, Inc.'s own filings, the day they're filed.
- Michelle Goldberg · director · departureeff. 2025-11-08
- Jill Simeone · director · departureeff. 2025-11-07
- David Clifton · Directors · departureeff. 2025-10-31
Latest filings
- 8-K · Company announcement2026-08-17
- 10-Q · Quarterly report2026-08-10
- 8-K · Company announcement2026-08-10
- 8-K · Company announcement2026-06-26
- 8-K · Company announcement2026-06-04
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- Main tension🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about Bakkt, Inc., every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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