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Bakkt’s DTR deal shows small other income and large 2025 loss
In DTR’s audited first consolidated reporting year, the company posted a reported €8.4 million loss in 2025 and ended the year with €373,857 cash.
CryptoSlate reports that Bakkt’s April acquisition of DTR, positioned by Bakkt as part of its stablecoin and agentic payments infrastructure push, is reflected in DTR’s audited accounts for its first consolidated reporting year. The accounts show only €5,315 in other income and a loss of €8.4 million in 2025, with the €5,315 classified as other income rather than revenue.
The filing describes DTR as fintech software provider, while Bakkt characterized the business as enabling stablecoin and agentic payments infrastructure. Under an earlier cooperation arrangement, DTR was set up to contribute payments technology, APIs, and intellectual property, while Bakkt supplied systems access and regulatory licenses.
DTR ended 2025 with €373,857 in cash, and its balance sheet showed current liabilities of €1,136,732 versus current assets of €838,790, a gap of €297,942. The accounts also record a €3,205,828 impairment expense, described as a write off of a related party balance.
Bakkt acquired all of DTR’s outstanding equity by issuing 11.3 million shares at closing after reductions related to shareholder loans and transaction expenses. The deal was structured as a related party transaction, with Bakkt stating an independent special committee negotiated and approved it as CEO Akshay Naheta recused and abstained.