Bakkt, Inc. develops regulated financial technology infrastructure for institutions, fintech platforms, and consumer finance products participating in digital assets and programmable finance. Its operating pillars include Bakkt Markets for regulated market access, trading infrastructure, and liquidity; Bakkt Agent for programmable money movement and financial services; and Bakkt Global for international financial infrastructure.
Bakkt news commonly covers operating and financial results, shareholder letters, strategic updates, partnerships with digital asset platforms, and capital-structure actions. Company updates also address digital asset trading access, Bitcoin and tokenization infrastructure, stablecoin payments, AI-enabled finance, cross-border payment capabilities, and regulatory foundations such as U.S. money transmitter coverage and a New York BitLicense.
Bakkt Holdings reported a 60% year-over-year increase in net revenue for Q2 2022, reaching $13.6 million. The company boasts strong liquidity with over $315 million in available cash and assets. Operating expenses rose 43% to $57.1 million, resulting in a net loss of $27.6 million, down from $31.9 million in Q2 2021. Bakkt updated its 2022 revenue guidance to a range of $57 million - $62 million due to market challenges. Despite losses, the company remains focused on growth initiatives and managing cash usage, expecting a 15-20% decline in cash utilization in the second half of 2022.
Bakkt Holdings, Inc. (NYSE: BKKT) announced the appointment of Karen Alexander as Chief Financial Officer, effective immediately. She has served as Interim CFO since May 23, 2022, after being Chief Accounting Officer since the company’s business combination in October 2021. With over 16 years of experience at GE Capital and earlier roles at Arthur Andersen and Ernst & Young, Alexander's knowledge of the company’s financials is expected to drive future growth. This leadership change is crucial as Bakkt continues to enhance its digital asset platform and loyalty-driven initiatives.
Bakkt Holdings (NYSE: BKKT) will participate in a fireside chat hosted by Water Tower Research LLC on August 16 at 11:00 AM ET. Gavin Michael, President and CEO, will represent the company during this event. Interested listeners can access the live audio webcast via the investor relations section of Bakkt's website. Replays of the event will also be available afterward. Bakkt is a digital asset platform based in Alpharetta, GA, enhancing consumer spending and loyalty through its services.
Bakkt Holdings, Inc. (NYSE: BKKT) released its "Gig Workers & Crypto Study" during peak crypto volatility, revealing that 38% of gig workers are open to payment in cryptocurrency, rising to nearly 50% for partial payments. The study, conducted with 1,018 participants in the U.S., highlighted significant interest in crypto among freelance writers and rideshare drivers. Key drivers for this interest include potential pay increases (49%) and immediate payment (26%). However, 48% of gig workers express a lack of crypto knowledge, and 34% prefer USD for bill payments.
Bakkt Holdings, Inc. (NYSE: BKKT) will release its second quarter 2022 earnings on August 11, 2022, before market open. A conference call will follow at 9:00 a.m. EDT for management to discuss results and answer questions. Participants can join via dial-in or submit questions beforehand through a designated platform from August 4 to August 10. The call will be available for replay until September 10, 2022 on Bakkt's investor relations website.
Bakkt, launched in 2018, offers a digital asset platform aimed at enhancing customer loyalty and spending.
Bakkt Holdings, Inc. (NYSE: BKKT) released findings from its "Gig Workers & Crypto Study," conducted during June and July 2022 amidst peak crypto volatility. The study reveals that 38% of gig workers are open to receiving payment in crypto, rising to nearly 50% for partial payments. Notably, 20% of respondents have already been paid in crypto, with freelance workers showing the highest interest. Key barriers include the need for better education on crypto (48%) and concerns about volatility (33%). The study highlights the growing appeal of crypto within the gig economy.
Bakkt Holdings, Inc. (NYSE: BKKT) announced its inclusion in the Russell 3000® Index, effective June 27, 2022, following the annual reconstitution. This addition signifies a notable achievement for Bakkt as it enhances its visibility among investors and institutional managers, with the Russell indexes being benchmarks for approximately $12 trillion in assets. Bakkt aims to drive growth in the digital economy by leveraging this inclusion to expand its market reach and connect with a broader customer base.
Bakkt Holdings, Inc. (NYSE: BKKT) announced its participation in the Piper Sandler Global Exchange & FinTech Conference, scheduled for June 9 at 2:30 PM ET. CEO Gavin Michael will engage in a fireside chat during the event. Interested parties can access a live audio webcast through the company's investor relations section at www.bakkt.com. The presentation will be available for replay following the event. Bakkt is a digital asset platform enabling consumers to buy, sell, and spend digital assets.
Bakkt Holdings, Inc. (NYSE: BKKT) announced its participation in the H.C. Wainwright Global Investment Conference. The event will feature a presentation by CEO Gavin Michael, available on demand starting May 24 at 7:00 AM ET. Interested individuals can access the audio webcast through the investor relations section of the company website, with replays available post-event. Established in 2018 and based in Alpharetta, GA, Bakkt is a digital asset platform enabling users to buy, sell, and spend digital assets.
Bakkt Holdings, Inc. (NYSE: BKKT), a prominent digital asset platform, will participate in the Rosenblatt Securities Annual FinTech Summit on May 18 at 11:00 AM ET. The event features a panel discussion led by Gavin Michael, CEO of Bakkt. Those interested can tune into a live audio webcast via the investor relations section of their website, www.bakkt.com. Replays will be available after the event. Bakkt enables consumers to buy, sell, store, and spend digital assets, enhancing consumer spending and loyalty programs.