Bakkt Q3 revenue $149.2M, down 62.9% YoY, net income $14.3M

Nov. 10: According to Bakkt's announcement, the company's total revenue for the third quarter was $149.2 million, down 62.9% from $402.2 million in the same period last year, mainly due to a decrease in cryptocurrency trading volume. Net income attributable to the company for the quarter was $14.3 million, with diluted earnings per share of $0.31, including a $26.8 million non-cash warrant gain. In the same period last year, the company reported a net loss of $14.9 million. Total trading volume (TTV) for the third quarter was $147.9 million. The company reiterated its full-year 2026 TTV target of approximately $3 billion and set a target of $6 billion in TTV by the first half of 2027. Cash and restricted cash totaled $37.3 million at quarter end.