Bakkt reported third-quarter total revenue of $149.2 million, a 62.9% decline from $402.2 million in the same period last year, driven primarily by reduced cryptocurrency trading volume. Net income attributable to the company reached $14.3 million with diluted earnings per share of $0.31, including a $26.8 million non-cash warrant gain. The prior-year quarter recorded a net loss of $14.9 million.
Total trading volume for the quarter came in at $147.9 million. Bakkt reiterated its full-year 2026 TTV target of approximately $3 billion and set a goal of $6 billion by the first half of 2027. Cash and restricted cash totaled $37.3 million at quarter end.
