Bakkt Holdings (BKKT) Estimates Q4 2025 Digital Asset Revenues of $298M-$300M, Shares Drop 8%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 20 2026
0mins
Source: seekingalpha
- Revenue Estimate: Bakkt Holdings estimates its Q4 2025 digital asset revenues to be between $298 million and $300 million, yet this forecast failed to boost stock performance, resulting in an 8% drop in premarket trading.
- Cost Analysis: The company anticipates total digital asset costs, including execution, clearing, and brokerage fees, to range from $297 million to $299 million in Q4, indicating significant operational cost pressures that may impact future profitability.
- Cash Position: As of December 31, 2025, Bakkt's available cash, cash equivalents, and restricted cash are estimated to be between $26 million and $28 million, reflecting challenges in liquidity management that could limit expansion capabilities.
- Operating Cash Flow: Bakkt expects net cash used in operating activities for Q4 to be between $19 million and $21 million, primarily for customer deposit returns and legal fees, highlighting high expenditures related to restructuring and international expansion that affect short-term financial health.
Analyst Views on BKKT
Wall Street analysts forecast BKKT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BKKT is 39.00 USD with a low forecast of 39.00 USD and a high forecast of 39.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 13.860
Low
39.00
Averages
39.00
High
39.00
Current: 13.860
Low
39.00
Averages
39.00
High
39.00
About BKKT
Bakkt Intermediate Holdings, Inc., formerly Bakkt Holdings, Inc., provides solutions that enable institutional participation in the digital asset economy - spanning Bitcoin, tokenization, stablecoin payments, and artificial intelligence (AI)-driven finance. The Company operates primarily through Bakkt Crypto Solutions, LLC (Bakkt Crypto). Through Bakkt Crypto’s platform, customers can purchase approved crypto assets, store crypto assets in custodial wallets, liquidate their holdings, and transfer supported crypto assets between a custodial wallet maintained by Bakkt Crypto and external wallets in certain jurisdictions, if enabled by the client. Bakkt Crypto’s proprietary trading platform and relationships with liquidity providers provide access to a wide range of crypto assets and competitive pricing to its customers. Bakkt Crypto holds a New York State virtual currency license (BitLicense), and money transmitter licenses from all states throughout the United States.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
