Bakkt Q1 Financial Report: Cryptocurrency revenue decreased by 77% year-on-year, transforming to enter the stablecoin infrastructure sector

According to Cointelegraph, Bakkt released its financial report for the first quarter of 2026, showing a net loss attributable to the company of $11.7 million, or a loss of $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 from $1.07 billion in the same period last year to $243.6 million, a year-on-year decrease of 77%, although most of this was offset by cryptocurrency costs and brokerage fees. The company held $82.6 million in cash at the end of the first quarter and has no long-term debt.

Bakkt stated that it is transitioning from cryptocurrency trading infrastructure to stablecoin payments and AI financial infrastructure, and completed the acquisition of Distributed Technologies Research on April 30, gaining an AI-native payment engine and a stablecoin compliance technology stack.