---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-047879"
form_type: "8-K"
ticker: "BKKT"
cik: "0001820302"
company_name: "Bakkt, Inc."
filed_at: "2024-11-14T23:59:59+00:00"
generated_at: "2026-05-30T00:35:04.969350+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Bakkt Q3 net loss improves 87.8% to $6.3M; guides FY24 cash usage up to $96M

## Summary
- Total revenues $328.4M (+60.4% YoY); net loss improved 87.8% to $6.3M, benefiting from $20.0M warrant liability gain.
- BakktX institutional trading platform tested, client rollout in Q4'24; possible wind-down of Bakkt Trust due to margin compression.
- FY24 guidance: loyalty revenue ~$49-50M (lower), gross crypto revenue at lower end of $10-15M, cash usage $84-96M.
- November trading volumes surged to $279M in first 12 days, exceeding October's $165M total.
- Crypto enabled accounts 6.5M (+6.7% YoY); assets under custody $938.7M (+85.5% YoY); loyalty accounts down 41.6% YoY.

## SEC filing metadata
- accession: 0001628280-24-047879
- form_type: 8-K
- ticker: BKKT
- cik: 0001820302
- company_name: Bakkt, Inc.
- filed_at: 2024-11-14T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1820302/000162828024047879/0001628280-24-047879-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1820302/000162828024047879/bakkt-20241114.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-047879
- JSON: https://secwatch.observer/filing/0001628280-24-047879.json
- Plain text: https://secwatch.observer/filing/0001628280-24-047879.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.