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.
Overview
Bakkt Holdings Inc (BKKT) operates as an advanced technology platform that connects the digital economy by bridging the gap between digital assets and traditional consumer and institutional needs. With a focus on digital asset liquidity, regulatory compliance, and secure digital custody, Bakkt provides a comprehensive ecosystem that caters to the dynamic world of cryptocurrencies, loyalty programs, gaming assets, and merchant stored value. The company's platform is built to support both experienced market participants and everyday consumers, offering them a streamlined, user-friendly digital experience. This includes capabilities for buying, selling, and storing digital assets while enabling instant liquidity and flexible redemption options. The robust design of its platform underscores its commitment to transparency and trust in a regulated market environment.
Business Model and Revenue Streams
Bakkt generates revenue through a combination of subscription-based services, transactional fees, and service charges associated with its secure digital custody solutions and loyalty redemption systems. Its business model is structured around several key elements:
- Institutional-Grade Custody Solutions: Designed to meet the rigorous requirements of large-scale investors, the custody platform provides a secure storage solution for digital assets, ensuring compliance with regulatory standards.
- Digital Asset Trading and Liquidity: The platform aggregates various digital assets, making them easily accessible for trading and transfers, thereby promoting instant digital liquidity for consumers and businesses alike.
- Loyalty and Redemption Systems: Beyond crypto custody, Bakkt’s technology facilitates the management, transfer, and redemption of loyalty points and merchant stored values, adding significant utility for both consumers and participating merchants.
Bakkt Holdings (NYSE: BKKT) has announced the appointment of Akshay Naheta as co-CEO, effective March 21, 2025, who will serve alongside current CEO Andy Main. Naheta brings over 20 years of experience from senior executive roles at SoftBank Group and is the founder of Distributed Technologies Research (DTR).
The company also revealed plans to enter a commercial agreement with DTR to integrate their stablecoin-based payments technology infrastructure with Bakkt's crypto trading and brokerage technology, subject to regulatory approvals. This strategic partnership aims to unlock new revenue streams in crypto trading and stablecoin payments, while enhancing efficiency in the cross-border payments market.
The integration is expected to transform Bakkt from a leading crypto technology platform and liquidity provider into a more comprehensive, utility-based, institutional digital assets trading and payments platform.
Bakkt Holdings (NYSE: BKKT) reported strong Q4 and full-year 2024 results, with Q4 trading volumes surging 465% sequentially and 778% year-over-year. The company's Q4 total revenue increased 737.9% year-over-year to $1.79 billion, while net loss improved 48.7% to $40.4 million.
Key highlights include:
- Crypto enabled accounts grew 8.1% YoY to 6.7 million
- Assets under custody increased 228.1% YoY to $2.3 billion
- Total transacting accounts rose 6.5% YoY to 974,429
The company announced significant strategic changes: appointing Akshay Naheta as co-CEO, partnering with DTR for stablecoin payments, selling Bakkt Trust to ICE for $1.5 million, and exploring strategic alternatives for its Loyalty business. However, Webull, representing 74% of crypto revenues, will not renew its contract ending mid-June 2025, and Bank of America is not renewing its loyalty services agreement ending April 2025.
Bakkt Holdings (NYSE: BKKT) has announced a rescheduling of its fourth quarter and full year 2024 earnings release and conference call. The company will now host the earnings conference call on Wednesday, March 19, 2025, at 5:00 P.M. ET.
Investors and analysts can participate by joining the webcast at the provided link or by dialing (833) 470-1428 or (404) 975-4839 with access code 796835. 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 a rescheduling of its fourth quarter and full year 2024 earnings conference call. The updated earnings call will take place on Tuesday, March 18, 2025, at 8:30 A.M. ET.
Investors and analysts can participate through the web platform or by dialing (833) 470-1428 or (404) 975-4839 with access code 796835. The conference call will be accessible via webcast and later archived in the investor relations section of Bakkt's corporate website under 'Events & Presentations', along with related earnings materials.
Bakkt Holdings (NYSE: BKKT) has announced it will release its fourth quarter and full year 2024 financial results on Monday, March 17, 2024, after market close. The company will host a conference call at 5:00 PM ET on the same day to discuss the results.
Investors and analysts can participate in the earnings conference call by joining online or dialing (833) 470-1428 or (404) 975-4839 with access code 796835. The call will be webcast live and archived in the investor relations section of Bakkt's website under 'Events & Presentations'.
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.
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