Welcome to our dedicated page for Bakkt Holdings news (Ticker: BKKT), a resource for investors and traders seeking the latest updates and insights on Bakkt Holdings stock.
Bakkt Holdings, Inc. (NYSE: BKKT) is a prominent player in the digital asset industry, striving to unlock the $1.2+ trillion potential held in cryptocurrencies, rewards and loyalty points, gaming assets, and merchant stored value. Established in 2018, Bakkt's mission is to bring trust and transparency to digital assets, serving both institutional and consumer markets.
Bakkt's core offerings include the Bakkt Warehouse and Bakkt® Bitcoin Futures and Options Contracts, providing an end-to-end regulated market with genuine price transparency for institutional clients. This allows for secure storage and seamless trading of digital assets under stringent regulatory standards.
For consumers, Bakkt aggregates digital assets to facilitate instant liquidity and empowers users to trade, transfer, and pay in a flexible manner. This is achieved through an intuitive technology platform that can be accessed via application programming interfaces (APIs) or an embedded web experience, simplifying the process of managing digital assets.
Moreover, merchants within the Bakkt ecosystem benefit from reduced payment acceptance costs, enhanced customer engagement, and minimized loyalty liability through diverse redemption options. Bakkt's solutions enable businesses to efficiently handle loyalty points and provide a full spectrum of content for customers to redeem loyalty currencies effectively.
Financially, Bakkt generates revenue through subscription and service fees and transaction-based activities. Their institutional-grade technology offers a robust custody solution, catering to both experienced market participants and new users, making the buying, selling, and storing of crypto straightforward and secure.
Bakkt continues to innovate and expand its offerings, aiming to enhance the digital asset experience for all stakeholders. The company's commitment to transparency and regulated market practices positions it as a leader in the evolving digital economy.
Bakkt Holdings (NYSE: BKKT) has acknowledged awareness of rumors circulating in the financial press about a potential transaction involving the company. The company stated that its policy is not to comment on market rumors or speculation.
Bakkt Holdings (NYSE: BKKT) reported Q3 2024 results with total revenues of $328.4 million, up 60.4% year-over-year. The company saw net loss improve 87.8% to $6.3 million. Crypto enabled accounts grew 6.7% to 6.5 million, while notional traded volume increased 30.1% to $476.5 million. Assets under custody rose 85.5% to $938.7 million. The company successfully tested BakktX ECN and plans to roll out to institutional clients in Q4'24. Bakkt updated its 2024 guidance, expecting loyalty revenue of $49-50 million and gross crypto revenue at the lower end of $10-15 million range.
Bakkt Holdings (NYSE: BKKT) has rescheduled its third quarter 2024 earnings conference call to Thursday, November 14, 2024, at 5:00 p.m. ET. The company will review quarterly results during the call. Investors and analysts can participate via webcast at the provided link or dial in at (833) 470-1428 or (404) 975-4839 using access code 597174. The conference call will be archived on Bakkt's investor relations website under 'Events & Presentations' along with related earnings materials.
Bakkt Holdings (NYSE: BKKT) has announced its upcoming third quarter 2024 earnings release scheduled for Wednesday, November 13, 2024, before market open. The company will host a conference call at 9:00 a.m. ET on the same day for management to review results and answer questions. Stockholders can participate through dial-in options or submit questions via Say Technologies platform between November 6th and November 12th. The conference call will be webcast live and archived on Bakkt's corporate website.
Bakkt Holdings, Inc. (NYSE: BKKT) reported its Q2 2024 financial results, showing total revenues of $509.9 million, a 46.7% increase year-over-year. The company's operating loss improved by 56.9% to $22.0 million, while net loss decreased by 29.7% to $35.5 million. Bakkt's crypto enabled accounts grew to 6.4 million, up 6.7% YoY, and assets under custody increased 47.7% to $975 million. The company updated its 2024 guidance, expecting full-year revenues between $2,568 million and $2,827 million. Bakkt also announced partnerships with Crossover Markets and Hidden Road to enhance its institutional capabilities and risk management.
Bakkt Holdings, Inc. (NYSE: BKKT) has announced its upcoming second quarter 2024 earnings release and conference call. The company will release its earnings on Wednesday, August 14, 2024, before the market opens. Management will host a conference call at 8:30 a.m. ET on the same day to discuss the results and answer questions.
Investors and analysts can participate by dialing (833) 470-1428 or (404) 975-4839, using the access code 865830. Bakkt stockholders can also submit questions through a dedicated platform at https://app.saytechnologies.com/bakkt-2024-q2 from August 7 to August 13. The conference call will be webcast live and archived on Bakkt's corporate website under the 'Events & Presentations' section.
Bakkt Holdings (NYSE: BKKT) has announced a partnership with Crossover Markets to develop BakktX, an advanced crypto Electronic Communication Network (ECN) aimed at institutional traders in the U.S. BakktX will provide sub-10 microsecond trade matching latency, customizable liquidity solutions, and lower trading costs compared to existing crypto brokers. The initiative responds to growing institutional interest in cryptocurrency, positioning Bakkt as a leading, compliant trading venue. The platform will be launched to Bakkt’s liquidity providers and early adopters in the coming months, emphasizing risk management, reliability, and compliance.
Bakkt Holdings announced the appointment of Ray Kamrath as Chief Commercial Officer of its crypto business. Reporting to CEO Andy Main, Kamrath will focus on sales, marketing, strategic partnerships, and operations. He aims to scale Bakkt's crypto platform and drive growth. Kamrath, who joined Bakkt in December 2023, brings 30 years of capital markets experience, including roles at Jefferies and Goldman Sachs. His expertise in institutional solutions and advanced trading algorithms is expected to benefit Bakkt in the next wave of crypto adoption.
Bakkt (NYSE: BKKT) reported its financial results for Q1 2024, achieving total revenues of $854.6 million, largely driven by an increase in gross crypto services revenues. Operating expenses excluding crypto costs decreased by 16% YoY to $48.8 million. The company's net loss improved by 53% YoY to $21.3 million, and its adjusted EBITDA loss decreased by 44% YoY to $16.3 million. The quarter saw a notional traded volume increase of 324% QoQ, reaching $1,041 million. Bakkt also announced a reverse stock split at a ratio of 1-for-25, which took effect on April 29, 2024.
Key initiatives include launching BakktX, an institutional crypto trading venue, and strategic partnerships with Unchained and Swan Bitcoin. Bakkt's updated 2024 guidance projects revenues between $3,002 million and $4,447 million, with gross crypto revenues constituting the bulk. The updated outlook anticipates further reductions in operating expenses due to a strategic restructuring expected to save $13 million annually.
Bakkt Holdings, Inc. (NYSE: BKKT) reschedules its first-quarter 2024 earnings conference call to May 15, 2024, at 5:00 p.m. ET. Investors can join by dialing (833) 470-1428 or (404) 975-4839 with participant access code 239896. The call will address business and financial results, webcast live, and archived on the investor relations section of Bakkt's website.
FAQ
What is the current stock price of Bakkt Holdings (BKKT)?
What is the market cap of Bakkt Holdings (BKKT)?
What does Bakkt Holdings, Inc. do?
When was Bakkt Holdings, Inc. founded?
What are the main products offered by Bakkt?
How does Bakkt benefit consumers?
What advantages do merchants gain from Bakkt?
How does Bakkt generate revenue?
What type of clients does Bakkt serve?
What makes Bakkt's market offerings unique?
Can consumers redeem loyalty points on Bakkt's platform?
What is the Bakkt Warehouse?
