Bakkt Holdings, Inc. Class A ( (BKKT) ) has released a notification of late filing.
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Bakkt Holdings, Inc. Class A has filed a Form 12b-25, notifying investors that it will delay its Annual Report on Form 10-K (Yearly Report) for the fiscal year ended December 31, 2025. The company, listed as Bakkt, Inc. in the filing, stresses that the postponement relates solely to its Form 10-K (Yearly Report) and not to any other required SEC reports.
The primary reason for the delay is the extra time needed to finalize the company’s consolidated financial statements for 2025. In addition, its independent registered public accounting firm needs more time to complete its first-year independent audit of Bakkt’s consolidated financial statements and its internal control over financial reporting.
The company states that filing within the original deadline would have required unreasonable effort or expense. Under the 12b-25 relief, Bakkt expects to submit the delayed Form 10-K (Yearly Report) no later than 15 calendar days after the prescribed due date, which is the standard grace period allowed by SEC rules.
Management indicates that all other required periodic reports over the last 12 months have been filed on time. Importantly for investors, Bakkt does not anticipate any significant change in its results of operations compared with the prior fiscal year, based on the earnings statements that will appear in the delayed annual report.
The filing includes a customary forward-looking statements disclaimer, warning that the expected timing of the Form 10-K (Yearly Report) could change due to various risks and uncertainties. Bakkt cautions that actual outcomes, including the completion of audit work and internal control assessments, may differ materially from current expectations.
Bakkt emphasizes its intent to complete the audit and reporting process as quickly as practicable while maintaining compliance with SEC rules. The notification is signed on behalf of the company by Chief Financial Officer Karen Alexander, dated March 17, 2026, underscoring executive-level accountability for the delayed filing and ongoing reporting obligations.
The most recent analyst rating on (BKKT) stock is a Hold with a $12.50 price target. To see the full list of analyst forecasts on Bakkt Holdings, Inc. Class A stock, see the BKKT Stock Forecast page.
Spark’s Take on BKKT Stock
According to Spark, TipRanks’ AI Analyst, BKKT is a Neutral.
Overall score is held back primarily by weak financial performance (persistent losses and negative operating cash flow) despite improving gross margin and low leverage. Offsetting factors include a constructive earnings-call outlook (strong adjusted EBITDA, cash position, transformation plan) and a positive strategic acquisition, while technical indicators are only moderately supportive and valuation remains challenged due to negative earnings and no dividend.
To see Spark’s full report on BKKT stock, click here.
More about Bakkt Holdings, Inc. Class A
Average Trading Volume: 1,482,817
Technical Sentiment Signal: Sell
Current Market Cap: $294.6M
For a thorough assessment of BKKT stock, go to TipRanks’ Stock Analysis page.