Bakkt Inc (NYSE:BKKT)

Q1 2025 Bakkt Holdings Inc Earnings Call Transcript

May 12, 2025 / 09:00 PM GMT

Release Date Price: $10.01 (-0.40%)

Transcript 10-Q8-K

Key Points

Positve

Bakkt Holdings Inc (BKKT) reported a year-over-year transaction volume growth of 23%, outpacing the broader market.
Net income improved significantly by 176.5% year-over-year, transitioning from a loss to a profit of $16.2 million.
The company is making progress in its strategic transformation to a pure-play crypto infrastructure company, including the divestiture of its custody business.
Bakkt Holdings Inc (BKKT) is expanding into the stablecoin payments ecosystem through a planned collaboration with Distributed Technologies Research (DTR).
The company has brought on key hires with significant experience in crypto and payments to accelerate its strategic transformation.

Negative

Total transaction volume for the quarter was $1.06 billion, representing a 40% sequential decline from Q4 results.
Total revenues, net of crypto costs, decreased by 25.9% year-over-year to $12.6 million.
The company experienced a 36.3% year-over-year decrease in total operating expenses, excluding crypto costs.
Adjusted EBITDA loss improved by only 11% year-over-year to $14.5 million, indicating ongoing financial challenges.
Bakkt Holdings Inc (BKKT) is suspending its practice of providing quarterly guidance as it works to finalize agreements and complete its optimization review.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BKKT.N - Bakkt Holdings Inc
Q1 2025 Bakkt Holdings Inc Earnings Call
May 12, 2025 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to the backed first quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. As a reminder, this conference call is being recorded. I'll now turn it over to Cody Fletcher, investor relations advisor at BACT. Please go ahead.

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Unidentified_2 [2]
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Hello, everyone, and thank you for joining BAX's first quarter, 2025 earnings call.

Before we get started, I'd like to remind everyone that today's earnings call includes a separate supplemental presentation that can be found at our investor

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