---
schema_version: "secwatch.filing_event.v1"
accession: "0001820302-24-000093"
form_type: "8-K"
ticker: "BKKT"
cik: "0001820302"
company_name: "Bakkt, Inc."
filed_at: "2024-05-15T23:59:59+00:00"
generated_at: "2026-06-01T23:27:04.709838+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Bakkt Q1 revenues $854.6M, net loss improves 53% YoY; updates FY2024 guidance

## Summary
- Total revenues $854.6M (vs $13.2M Q1 2023) driven by Bakkt Crypto acquisition; net loss $21.3M, improved 53% YoY.
- Adjusted EBITDA loss $16.3M, improved 44% YoY; operating expenses ex-crypto down 16% to $48.8M.
- Notional traded volume $1,041M, up 64% YoY and 324% QoQ; crypto enabled accounts 6.3M, up 9% YoY.
- Updated FY2024 guidance: revenues $3,002M-$4,447M; operating expenses $155M-$165M; net cash used ops $58M-$72M.
- Restructuring: 28 employees severed, 20% headcount reduction, annualized savings ~$13M.

## SEC filing metadata
- accession: 0001820302-24-000093
- form_type: 8-K
- ticker: BKKT
- cik: 0001820302
- company_name: Bakkt, Inc.
- filed_at: 2024-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1820302/000182030224000093/0001820302-24-000093-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1820302/000182030224000093/bakkt-20240515.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001820302-24-000093
- JSON: https://secwatch.observer/filing/0001820302-24-000093.json
- Plain text: https://secwatch.observer/filing/0001820302-24-000093.txt

## Key facts
- Earnings Releases
  Bakkt, Inc. reported the quarter ended March 31, 2024 results: revenue $854.6 million, net income $21.3 million.
  - Period: the quarter ended March 31, 2024
  - Revenue: $854.6 million
  - Net income: $21.3 million
  - Result: reported results
  source text: Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing. --- EX-99.1 (EX-99.1) --- Bakkt Reports First Quarter 2024 Results - $854.6 million total revenues including gross crypto revenues and net loyalty revenues - Strong client crypto trading activity with notional traded volume up 324% quarter-over-quarter - $48.8
  evidence_url: https://www.sec.gov/Archives/edgar/data/1820302/000182030224000093/0001820302-24-000093-index.htm

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