Odaily Planet Daily reports that Bakkt released its first-quarter 2026 financial results, reporting a net loss attributable to the company of $11.7 million, or $0.41 per share, compared to a net profit of $7.7 million in the same period last year. Due to a decline in cryptocurrency trading volume, Bakkt’s cryptocurrency service revenue fell to $243.6 million from $1.07 billion year-over-year, a 77% decrease; however, this was largely offset by reduced cryptocurrency costs and brokerage fees. As of the end of the quarter, Bakkt held $82.6 million in cash and had no long-term debt. Bakkt stated that it is transitioning from cryptocurrency trading infrastructure to stablecoin payments and AI-driven financial infrastructure, and completed its acquisition of Distributed Technologies Research on April 30, gaining access to an AI-native payment engine and a stablecoin compliance technology stack. (Cointelegraph)
Bakkt Q1 crypto revenue drops 77% to $243.6M amid shift to stablecoin infrastructure
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Summary
Bakkt’s Q1 crypto revenue fell 77% to $243.6M as crypto market activity slowed. The company reported a $11.7M net loss in Q1 2026, compared to a $7.7M profit a year earlier. Declining trading volumes severely impacted crypto service revenue. Bakkt is shifting its focus to stablecoin payments and AI-powered financial tools. On April 30, it acquired Distributed Technologies Research to enhance its stablecoin compliance and payment infrastructure. Traders are advised to monitor altcoins as the market adjusts.
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