secwatch.observer — SEC 8-K summary
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Issuer:     Bakkt, Inc. (BKKT)
CIK:        0001820302
Form:       8-K
Filed at:   2024-03-25T23:59:59+00:00
Accession:  0001820302-24-000055
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bakkt Q4 revenue $214.5M, net loss $78.7M; 2024 outlook revenue $3.3B-$5.1B
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- Q4 total revenues $214.5M (gross crypto $199.4M); full year $780.1M.
- Q4 adjusted EBITDA loss $19.0M (improved 38% YoY), net loss $78.7M.
- Closed $42.4M registered direct offering with ICE and others, alleviating going concern doubt.
- 2024 guidance: revenue $3,292M-$5,114M; operating cash flow usage $58M-$72M (down ~70% YoY).
- Launched Collaborative Custody; institutional trading venue expected Q3 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1820302/000182030224000055/0001820302-24-000055-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1820302/000182030224000055/bakkt-20240325.htm
  HTML page:      https://secwatch.observer/filing/0001820302-24-000055

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer