Bakkt's earnings call presented a strategic pivot towards becoming a pure-play crypto infrastructure company, supported by successful divestitures and new capital, alongside new product launches and strategic initiatives. However, the sequential decline in trading volumes and revenue, combined with a net loss, shows challenges in the short term.

Company Guidance

During Bakkt's Second Quarter 2025 Earnings Call, the company outlined its strategic realignment into a pure-play crypto infrastructure firm, emphasizing the divestiture of its Custody business to Intercontinental Exchange and the pending sale of its Loyalty business for $11 million, expected to close in Q3. Bakkt highlighted the integration of Distributed Technologies Research's stablecoin and AI payment infrastructure into its platform, alongside a successful $75 million SEC-registered offering to support growth initiatives. The company reported a decline in crypto trading volumes, with total notional volume at $733 million and total revenues of $577.9 million, reflecting a 13.3% year-over-year increase. Bakkt's adjusted EBITDA loss for Q2 was $12.6 million, showing a 29.9% improvement year-over-year. The call also detailed Bakkt's focus on expanding its Brokerage-in-a-box solution and launching Bakkt Agent, an AI-powered global transfers product.

Successful Strategic Realignment

Bakkt completed the sale of Bakkt Trust Company to Intercontinental Exchange and entered into a definitive agreement to divest the Loyalty business, marking a pivot to focus entirely on crypto infrastructure.

Strong Capital Position

Bakkt successfully closed a $75 million SEC registered offering of common stock and warrants, significantly recapitalizing the balance sheet to support growth initiatives.

New Institutional Clients

Bakkt onboarded three new institutional clients: Longbridge, AscendEX, and BTSE.

Launch of Bakkt Agent and Bitcoin Treasury Strategy

The Bakkt Agent, an AI-powered global transfers product, is in private beta. Bakkt initiated a Bitcoin treasury strategy with the acquisition of a 30% stake in Marusho Hotta Co Ltd.

Revenue Growth

Total revenue for Q2 2025 was $577.9 million, up 13.3% year-over-year.

Bakkt Holdings, Inc. Class A (BKKT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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BKKT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 07, 2025	2025 (Q3)	- / -	-0.45	―	―	―
Aug 11, 2025	2025 (Q2)	- / -2.16	-2.67	19.10% (+0.51)
May 12, 2025	2025 (Q1)	- / 1.13	-1.86	160.75% (+2.99)
Mar 19, 2025	2024 (Q4)	- / -2.95	-7.25	59.31% (+4.30)
Nov 14, 2024	2024 (Q3)	-1.10 / -0.45	-4.75	90.53% (+4.30)
Aug 14, 2024	2024 (Q2)	-1.76 / -2.67	-4.75	43.79% (+2.08)
May 15, 2024	2024 (Q1)	-2.08 / -1.86	-4.25	56.24% (+2.39)
Mar 25, 2024	2023 (Q4)	-6.47 / -7.25	-31	76.61% (+23.75)
Nov 14, 2023	2023 (Q3)	-2.90 / -4.75	-152.75	96.89% (+148.00)
Aug 10, 2023	2023 (Q2)	-4.00 / -4.75	-1.25	-280.00% (-3.50)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

BKKT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 11, 2025	$9.92	$9.38	-5.44%
May 12, 2025	$10.01	$14.75	+47.35%
Mar 19, 2025	$9.31	$10.52	+13.00%
Nov 14, 2024	$12.11	$11.32	-6.52%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Bakkt Holdings, Inc. Class A (BKKT) report earnings?

Bakkt Holdings, Inc. Class A (BKKT) is schdueled to report earning on Nov 07, 2025, Before Open (Confirmed).

What is Bakkt Holdings, Inc. Class A (BKKT) earnings time?

Bakkt Holdings, Inc. Class A (BKKT) earnings time is at Nov 07, 2025, Before Open (Confirmed).

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