---
schema_version: "secwatch.filing_event.v1"
accession: "0001820302-23-000056"
form_type: "8-K"
ticker: "BKKT"
cik: "0001820302"
company_name: "Bakkt, Inc."
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T04:38:33.519405+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Bakkt Q1 net revenues $13M (+4% YoY); Apex Crypto acquisition closed April 1

## Summary
- Q1 net revenues $13.0M, up 4% YoY; operating expenses $58.4M, down 4% YoY.
- Net loss $44.9M vs $43.3M in Q1 2022; adjusted EBITDA loss $28.9M flat YoY.
- Apex Crypto acquisition closed April 1, adding ~5.8M crypto-enabled accounts.
- Full year 2023 Apex Crypto gross revenue outlook $1,874M-$2,384M; expects free cash flow breakeven for remainder of 2023 excluding deal costs.
- Transacting accounts ~690,000 (+2% YoY); digital asset conversion volume $193M (+6% YoY).

## SEC filing metadata
- accession: 0001820302-23-000056
- form_type: 8-K
- ticker: BKKT
- cik: 0001820302
- company_name: Bakkt, Inc.
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/1820302/000182030223000056/0001820302-23-000056-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1820302/000182030223000056/bakkt-20230511.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001820302-23-000056
- JSON: https://secwatch.observer/filing/0001820302-23-000056.json
- Plain text: https://secwatch.observer/filing/0001820302-23-000056.txt

## Key facts
- Earnings Releases
  Bakkt, Inc. reported the quarter ended March 31, 2023 results: revenue $13.0 million, net income $(44.9) million.
  - Period: the quarter ended March 31, 2023
  - Revenue: $13.0 million
  - Net income: $(44.9) million
  - Result: reported results
  source text: Bakkt Reports First Quarter 2023 Results Quarterly net revenues of $13.0 million, increased 4% year-over-year
  evidence_url: https://www.sec.gov/Archives/edgar/data/1820302/000182030223000056/0001820302-23-000056-index.htm

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