Bakkt Holdings Inc Stock Price, News & Analysis

Bakkt Holdings, Inc. (NYSE: BKKT) will participate in the 25th Annual Needham Growth Conference on January 12, 2023, with CEO Gavin Michael presenting at 3:00 PM ET. The company plans to host one-on-one investor meetings throughout the day. Interested parties can access a live audio webcast of the presentation via the investor relations section of their website, which will also offer a replay after the event.

Bakkt is a digital asset platform aimed at enhancing crypto access and loyalty programs.

Bakkt Holdings Inc. (BKKT) has released findings from its U.S. Consumer Crypto Sentiment Study, revealing that interest in cryptocurrency remains stable despite the recent FTX collapse. Notably, only a 7% decline in future purchase consideration was noted among crypto owners, with a surprising 2% increase for the curious. Safety and regulation concerns were highlighted, with 71% of crypto owners expressing concerns about regulations. Additionally, the study identified education as a major barrier to crypto adoption, with 61% of respondents feeling uninformed about crypto investments.

Bakkt Holdings, Inc. (NYSE: BKKT) will participate in a fireside chat with Water Tower Research LLC on December 15 at 1:00 PM ET. Key executives attending include Gavin Michael (President and CEO), Karen Alexander (CFO), and Dan O’Prey (Chief Product Officer, Bitcoin & Crypto). Investors can listen to a live audio webcast from the investor relations section on the company’s website, with replays available post-event. Bakkt is a digital asset platform established in 2018, headquartered in Alpharetta, GA.

Bakkt Holdings, Inc. (NYSE: BKKT) will participate in a fireside chat at the Wells Fargo 6th Annual TMT Summit in Las Vegas, NV on November 29 at 11:40 AM ET. Gavin Michael, the President and CEO, will lead the discussion. Interested parties can access a live audio webcast on the company’s website, with a replay available post-event. Bakkt, launched in 2018 and headquartered in Alpharetta, GA, offers a digital asset platform designed to unlock crypto and enhance loyalty programs.

Bakkt Holdings, Inc. (NYSE: BKKT) confirms no exposure to struggling crypto firms like FTX, Gemini, or Genesis, amidst ongoing market contagion. The platform remains fully operational, allowing consumers to buy and sell crypto without interruption. CEO Gavin Michael emphasizes Bakkt's conservative risk management, avoiding leverage and rehypothecation. Moreover, the recent acquisition of Apex Crypto further mitigates exposure risks, enhancing Bakkt's position in the digital asset market.

Bakkt Holdings, Inc. (NYSE: BKKT) will participate in the Oppenheimer 5th Virtual Blockchain & Digital Assets Summit on November 17 at 10:45 AM ET. CEO Gavin Michael will speak on the 'Payments and Remittance' panel. Interested parties can access a live audio webcast via the investor relations section of Bakkt's website. Replays will be available post-event. Bakkt, launched in 2018 and headquartered in Alpharetta, GA, is a digital asset platform that enhances crypto accessibility and loyalty programs.

Bakkt Holdings reported a 41% increase in quarterly net revenue, reaching $12.9 million year-over-year. Digital asset conversion volumes surged by 73%, driven by loyalty redemptions associated with travel. The company announced a definitive agreement to acquire Apex Crypto for up to $200 million, expected to close in the first half of 2023, which will enhance Bakkt's cryptocurrency offerings and client base. Despite revenue growth, Bakkt faced an operating loss of $1,594.9 million due to significant goodwill impairments.

Bakkt Holdings (NYSE: BKKT) has signed an agreement to acquire Apex Crypto from Apex Fintech Solutions for up to $200 million. This acquisition aims to enhance Bakkt's cryptocurrency offerings and expand its client base into sectors like fintechs and neo-banks. The initial payment is $55 million in cash, with additional stock payments contingent on financial targets. The deal, expected to close in the first half of 2023, is subject to regulatory approval. CEO Gavin Michael emphasized the strategic benefits and innovative potential of the acquisition.

Bakkt Holdings, Inc. (NYSE: BKKT) completed its annual impairment testing of goodwill and intangible assets, announcing a non-cash impairment charge of approximately $1.3 to $1.4 billion related to goodwill and $150 to $160 million for certain intangible assets as of September 30, 2022. Despite this, the company asserts no impact on future operations, liquidity, or cash flows. The decline was attributed to slower crypto product activations and decreased market capitalization. Bakkt plans to release its Q3 2022 earnings on November 10, 2022, followed by a conference call.