Overview
Bakkt Q2 2025 total revenue rises 13.3% yr/yr driven by crypto market activity
Net loss improves 15.1% yr/yr, adjusted EBITDA loss improves 29.9% yr/yr
Co raises $75 mln for Bitcoin Treasury Strategy, acquires stake in MarushoHotta Co.
Outlook
Bakkt to enhance brokerage technology in 2H 2025
Company plans stablecoin payments solution launch
Bakkt expands Bitcoin treasury strategy in Japan
Company to review cost structure for profitability
Result Drivers
CRYPTO MARKET ACTIVITY - 13.3% yr/yr increase in total revenues driven by higher crypto services revenues from increased market activity and prices compared to Q2 2024
OPERATING EXPENSES - 12.1% yr/yr increase in total operating expenses due to higher crypto costs and execution, clearing, and brokerage fees from increased trading volume
RESTRUCTURING ACTIONS - Reduction in SG&A and compensation expenses from 2024 restructuring contributed to a 16% yr/yr improvement in operating loss
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | $577.90 mln | ||
Q2 Net Income | -$30.20 mln | ||
Q2 Adjusted EBITDA | -$12.60 mln | ||
Q2 Operating Expenses | $596.40 mln | ||
Q2 Operating Income | -$18.50 mln |
Press Release: ID:nBwfTPwza
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)