Bakkt to record ~$1.3-1.4B goodwill impairment, $150-160M intangible impairment for Q3 2022

Bakkt, Inc.

Goodwill impairment estimated at $1,300-1,400 million; indefinite-lived intangible impairment $150-160 million.
Impairment caused by delayed crypto product activations and decline in market capitalization as of Sept 30, 2022.
Non-cash charge has no impact on liquidity, cash flows, or future operations.
Full Q3 2022 earnings to be released Nov 10, 2022, with conference call at 9:00 AM EST.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bakkt, Inc. reported preliminary financial results for the three months ended September 30, 2022.

Period: the three months ended September 30, 2022
Result: preliminary results

Exact text from the filing

On October 28, 2022, Bakkt Holdings, Inc. (the “Company”) issued a press release announcing that, for the three months ended September 30, 2022, the Company will record an impairment loss on goodwill and on certain indefinite-lived intangible assets.

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Bakkt, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-272584

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