Quarterly ResultMay 11, 2026, 04:33 PM
Bakkt Q1 Net Loss $11.7M; Completes DTR Acquisition
AI Summary
Bakkt announced its Q1 2026 financial and operational results, reporting a net loss of $11.7 million and total revenue of $243.6 million. The company completed the acquisition of Distributed Technologies Research (DTR) on April 30, 2026, integrating agentic AI and stablecoin payments infrastructure. Bakkt also appointed Daniel Ishag as Chief Commercial Officer to rebuild its commercial organization and entered a strategic MoU with Zoth, targeting $1 billion in annualized TPV. As of March 31, 2026, Bakkt held $82.6 million in cash and cash equivalents, indicating sufficient liquidity for its growth engines.
Key Highlights
- Bakkt reported a net loss of $11.7 million in Q1 2026, compared to $7.7 million net income in Q1 2025.
- Total revenue for Q1 2026 was $243.6 million, a 77.1% decrease from Q1 2025.
- Adjusted EBITDA loss increased to $13.7 million in Q1 2026 from $11.7 million in Q1 2025.
- Completed the acquisition of Distributed Technologies Research (DTR) on April 30, 2026.
- Appointed Daniel Ishag as Chief Commercial Officer to lead commercial organization rebuild.
- Cash and cash equivalents and restricted cash totaled $82.6 million as of March 31, 2026.
- Entered strategic MoU with Zoth, targeting $1 billion in annualized total payments volume (TPV).
- Issued 11,316,775 shares for DTR acquisition, with up to 725,592 additional shares.