secwatch.observer — SEC 8-K summary
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Issuer:     Bakkt, Inc. (BKKT)
CIK:        0001820302
Form:       8-K
Filed at:   2023-08-10T23:59:59+00:00
Accession:  0001820302-23-000078
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bakkt Q2 revenue surges to $347.6M on Apex Crypto; net loss widens to $50.5M
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- Q2 2023 revenues $347.6M (incl. gross crypto $335.3M) vs $14.0M YoY; net loss $50.5M vs $27.6M.
- Operating loss $51.1M; adjusted EBITDA loss $24.5M improved 17% YoY.
- Crypto enabled accounts 6.0M; notional volume $531M (-51% YoY); assets under custody $660M.
- FY2023 guidance: rev $2.1B-$3.8B; net cash used in ops narrowed to $78M-$84M from prior $100M-$110M.
- Closed Apex Crypto acquisition; signed 7 new clients including invstr, Blockchain.com, Swan Bitcoin; partnerships with Plaid and Fireblocks.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1820302/000182030223000078/0001820302-23-000078-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1820302/000182030223000078/bakkt-20230810.htm
  HTML page:      https://secwatch.observer/filing/0001820302-23-000078

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