{"schema_version":"secwatch.filing_event.v1","accession":"0001820302-23-000090","form_type":"8-K","ticker":"BKKT","cik":"0001820302","company_name":"Bakkt, Inc.","filed_at":"2023-11-14T23:59:59+00:00","discovered_at":"2026-05-14T18:03:30.713205+00:00","generated_at":"2026-06-08T03:56:39.735617+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Bakkt Q3 net loss $51.7M, revenue $204.8M; updates 2023 guidance, provides 2024 outlook","bullets":["Revenue of $204.8M (up from $13.2M YoY, driven by Apex Crypto acquisition); net loss $51.7M vs $1.59B loss last year.","Adjusted EBITDA loss $21.6M, down 30% YoY; notional traded volume $366.1M (-45% YoY); assets under custody $505.7M (-28%).","Full-year 2023 revenue guidance narrowed to ~$750M-$1,268M; net cash used in ops expected at ~$86M-$89M (wider than prior).","Preliminary 2024 revenue guidance $3.46B-$9.07B; expects breakeven adjusted EBITDA by end of 2024.","International expansion to nine new markets by year-end including UK, Hong Kong, Singapore, Australia, Spain."],"urls":{"canonical":"https://secwatch.observer/filing/0001820302-23-000090","json":"https://secwatch.observer/filing/0001820302-23-000090.json","markdown":"https://secwatch.observer/filing/0001820302-23-000090.md","text":"https://secwatch.observer/filing/0001820302-23-000090.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1820302/000182030223000090/0001820302-23-000090-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1820302/000182030223000090/bakkt-20231114.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-08T03:56:39.735617+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"806733d37c226828dc2db1568d9d5ee253b15002","claim":"Bakkt, Inc. reported the quarter ended September 30, 2023 results: revenue $204.8 million, net income $(51.7) million (net loss).","evidence_excerpt":"Quarter 2023 Results Gross crypto services revenues of $191.8 million and associated crypto costs and execution, clearing and brokerage fees of $190.1 million Total revenues of $204.8 million include gross crypto revenues and net loyalty revenues Total operating expenses of $257.6 million includes crypto costs and execution, clearing and brokerage fees and goodwill","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1820302/000182030223000090/0001820302-23-000090-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the quarter ended September 30, 2023"},{"label":"Revenue","value":"$204.8 million"},{"label":"Net income","value":"$(51.7) million (net loss)"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}