Bakkt Reports Third Quarter 2023 Results

Bakkt Reports Third 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 and intangible assets impairments. Excluding crypto costs and execution, clearing and brokerage fees and goodwill and intangible assets impairments, expenses were $44.2 million down 26% year-over-year

Expansion of crypto capabilities in nine new international markets expected to be active by year-end, including the United Kingdom, Hong Kong, Latin America, Singapore, Australia and Spain

Strong client execution with nearly all recently signed clients onboarded and/or activated, and significant broadening of our client network

Updated full year 2023 outlook and provided preliminary 2024 outlook
ALPHARETTA, Ga.–(BUSINESS WIRE)–Bakkt Hold

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