Pulling SEC filings + quote and writing the call…

Bakkt, Inc.
Last earnings +0.7% on 2026-05-11
Conservative balance sheet (liabilities/equity 0.44x); but revenue fell -32.1% YoY.
Bakkt, Inc. shows $2.34B in FY2025 revenue (-32.1% YoY), a -4.6% net margin, and -95.1% ROE.
Sources: SEC EDGAR (CIK 0001820302, latest 10-Q filed 2026-05-11) · EODHD · as of 6/25/2026, 4:07:44 PM.
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The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY20 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $28.5M | $56.2M | $727M | $3.44B | $2.34B |
| Gross profit | — | — | — | — | — |
| Operating income | -$79.1M | -$2.02B | -$156M | -$82.6M | -$148M |
| Net income | -$79.6M | -$578M | -$74.9M | -$46.7M | -$107M |
| Diluted EPS | — | -$203.08 | -$21.01 | -$7.97 | -$8.87 |
| Net margin | -279.4% | -1028.2% | -10.3% | -1.4% | -4.6% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
1072 tracked peers · median
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.
Last 90 days: 4 open-market buys · 1 sale
| 2026-06-10 | ALFRED MICHAEL Director | Buy | 100K @ $7.83 | $783K |
| 2026-06-09 | ALFRED MICHAEL Director | Buy | 180K @ $7.71 | $1.39M |
| 2026-05-18 | ALFRED MICHAEL Director | Buy | 220K @ $8.20 | $1.80M |
| 2026-05-15 | Baes Nicholas Chief Operating Officer | Exercise | 671.00 @ $10.00 | $6.71K |
| 2026-05-15 | Alexander Karen Chief Financial Officer | Exercise | 335.00 @ $10.00 | $3.35K |
| 2026-05-15 | D'Annunzio Marc General Counsel & Secretary | Exercise | 1.68K @ $10.00 | $16.8K |
| 2026-05-15 | ALFRED MICHAEL Director | Buy | 365K @ $8.34 | $3.04M |
| 2026-05-15 | Naheta Akshay Sudhir Chief Executive Officer | Exercise | 33.6K @ $10.00 | $336K |
| 2026-04-30 | Naheta Akshay Sudhir CEO and President | Award | 7.93M | |
| 2026-04-28 | Alexander Karen Chief Financial Officer | Sell | 4.68K @ $9.13 | $42.8K |