Bakkt’s Q2 2026 earnings call drew CEO Akshay Naheta, CCO Daniel Ishag, CFO Karen Alexander, and IR head Cody Fletcher, along with analysts Brian Dobson and Mark Palmer.
Naheta projected adjusted EBITDA break-even in Q4 2026, contingent on the timing and scale of client activations already in progress.
Ishag kept the 2026 total transacting volume target at $2.5 billion; H1 volume totaled $410 million, with payments added from May 1.
Management cited cross-border payment margins of 50 basis points to 1.5 points, versus low-single to low-teen basis points in major stablecoin currencies.
Bakkt posted GAAP net income of $80.8 million, diluted EPS of $1.94, cash and restricted cash of $50.7 million, and no long-term debt.
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