Bakkt reported $80.8 million in Q2 2026 net income, reversing a prior year loss, driven largely by a $98.5 million non-cash gain from Transchem warrants. Meanwhile, revenue dropped 70% to $170.1 million and operating loss widened.
Robinhood is laying off 10% of its workforce, approximately 2,900 employees, to streamline operations. This decision comes as the company faces a significant 34% sequential drop in crypto transaction revenue, falling to $134 million from $221 million.
Robinhood stock fell 9.4% in after-hours trading after Q1 revenue of $1.07 billion missed analyst expectations by 6.1%, while EPS of $0.38 missed by 11.6%. Crypto transaction revenue dropped 47% year-on-year to $134 million, with trading volume falling 48% to $24 billion — the third consecutive quarterly decline. CEO Vladimir Tenev attributed the decline to market price swings but emphasized the company's focus on building crypto infrastructure. The losses were partially offset by Robinhood Predictions, which saw 780% growth to 8.8 billion contracts traded.
Retail brokerage Robinhood's business has gotten a boost from prediction markets, though its crypto trading revenue fell in Q1.
