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, Inc. (NYSE: BKKT) will announce its Q1 2023 earnings on May 11, 2023, before the market opens. A conference call is scheduled for 9:00 a.m. ET on the same day for management to discuss the results and address questions. Investors can join the call by dialing (833) 470-1428 or (404) 975-4839, referencing access code 853207. A replay of the call will be available until June 10, 2023.
Participants can also submit questions via this platform from May 4 until May 10, 2023. The conference call will be webcast live and archived on Bakkt’s corporate website under ‘Events & Presentations’.
Bakkt Holdings, Inc. (NYSE: BKKT) has successfully completed its acquisition of Apex Crypto LLC, securing all necessary regulatory approvals. This strategic move aims to enhance Bakkt's crypto offerings and access to 5.8 million crypto-enabled accounts. Apex Crypto provides integrated trading solutions, having facilitated over $12.5 billion in cryptocurrency trades. The acquisition is expected to bolster Bakkt’s profitability by diversifying revenue streams and accelerating product innovation, including opportunities for crypto rewards and international market entry.
Bakkt Holdings, Inc. (NYSE: BKKT) will participate in a virtual fireside chat hosted by Rosenblatt Securities on March 29, 2023, at 2:00 PM ET. Investors can access a live audio webcast through the company's investor relations page at www.bakkt.com. A replay will be available post-event. Founded in 2018 and headquartered in Alpharetta, GA, Bakkt focuses on connecting the digital economy by offering solutions that empower cryptocurrency, loyalty, and commerce through innovative technology. Visit www.bakkt.com for more details.
Bakkt Holdings reported fourth-quarter net revenues of $15.6 million, up 14% year-over-year, largely due to increased loyalty redemption volume. For the full year, revenues reached $54.6 million, a 38% increase compared to 2021. Despite strong performance metrics, the company faced a significant net loss of $(323.9 million) in Q4 and $(1,987.5 million) for the year, attributed to major goodwill and asset impairments. Bakkt anticipates 2023 revenues to range between $62 million and $72 million, while implementing a corporate restructuring aimed at reducing headcount by 40% and saving $29 million in cash.
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