Bakkt Holdings

BKKT

Market cap $337M

Bakkt Holdings, Inc. ( BKKT ) Q3 2025 Earnings Call November 10, 2025 8:30 AM EST Company Participants Cody Fletcher Akshay Naheta - CEO & Director Karen Alexander - CFO & Principal Financial Officer Conference Call Participants Chris Brendler Mark Palmer - The Benchmark Company, LLC, Research Division Justin Pan Presentation Operator Greetings, and welcome to the Bakkt's Third Quarter 2025 Earnings Conference Call. [Operator Instructions].

- GAAP revenue1 of $402.2 million, up 27% year-over-year- GAAP net loss of $23.2 million, primarily due to 2024 registered direct offering warrant liability mark-to-market- Adjusted EBITDA of $28.7 million, up 241% year-over-year- Ended the quarter with $64.4 million in cash and restricted cash with no long-term debt- Completed sale of Loyalty business October 1, 2025- Closed Up-C collapse on November 3rd, 2025, simplifying governance with single share class- Appointed Richard Galvin to Board of Directors ALPHARETTA, Ga., Nov. 10, 2025 (GLOBE NEWSWIRE) -- Bakkt Holdings, Inc. (“Bakkt,” “Company,” “we” or “us”) (NYSE: BKKT) announced its financial and operational results for the quarter ended September 30, 2025 and provided an update on certain business developments.

NEW YORK, Nov. 04, 2025 (GLOBE NEWSWIRE) -- Bakkt Holdings, Inc. (“Bakkt” or the “Company”) (NYSE:BKKT) announced today announced that it has completed its previously disclosed reorganization, eliminating its umbrella partnership-C corporation (“Up-C”) structure and transitioning to a single class of common stock.

NEW YORK, Oct. 31, 2025 (GLOBE NEWSWIRE) -- Bakkt Holdings, Inc. (“Bakkt” or the “Company”) (NYSE:BKKT) announced today that David Clifton, an ICE executive and a founding member of Bakkt's Board, has stepped down from his position on the Company's Board, following years of service in establishing and guiding the Company's foundation.

NEW YORK, Oct. 27, 2025 (GLOBE NEWSWIRE) -- Bakkt Holdings, Inc. (“Bakkt” or the “Company”) (NYSE:BKKT) announced today that it will release its third quarter 2025 earnings on Monday, November 10, 2025, before market open. Management will host a conference call at 8:30 AM EST on the same day to review the results and answer questions.

NEW YORK, Oct. 20, 2025 (GLOBE NEWSWIRE) -- Bakkt Holdings, Inc. (“Bakkt” or the “Company”) (NYSE: BKKT) today announced the appointment of Lyn Alden to its Board of Directors. Lyn is an investor, best-selling author, and globally recognized macro strategist focused on the intersection of money and technology.

NEW YORK--(BUSINESS WIRE)--Bakkt Holdings, Inc. (“Bakkt” or the “Company”) (NYSE:BKKT) announced today that it plans to eliminate its existing umbrella partnership-C corporation (“Up-C”) structure through a reorganization. If consummated, Bakkt will become a wholly owned subsidiary of a new holding company, which will be named Bakkt Holdings, Inc. (“NewCo”), will replace Bakkt as the listed public company, and will transition to a single class of common stock. At completion of the reorganizatio.

Bitcoin, cryptocurrency prices continue to rally amid government shutdown. Bakkt vaults on transformation, streamlining efforts.

NEW YORK--(BUSINESS WIRE)--Bakkt Holdings, Inc. (“Bakkt” or the “Company”) (NYSE: BKKT) announced today that it has completed the sale of its Loyalty business to Project Labrador Holdco, LLC, a wholly owned subsidiary of Roman DBDR Technology Advisors, Inc. This milestone marks the Company's full transition to a pure-play digital asset infrastructure platform, aligned with its mission to build the backbone of next-generation financial markets. “The sale of Loyalty is a defining inflection point.

NEW YORK--(BUSINESS WIRE)--Bakkt Holdings, Inc. (“Bakkt” or the “Company”) (NYSE: BKKT) today announced the appointment of Mike Alfred to its Board of Directors. This addition strengthens Bakkt's governance and positions the Company to capitalize on the generational transformation in global financial infrastructure – redefining what money is, how it moves, and how markets trade and operate. “We're doubling down on our mission to build next-generation financial infrastructure by bringing world-c.