{"id":874237,"date":"2025-08-11T17:57:30","date_gmt":"2025-08-11T21:57:30","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/bakkt-reports-second-quarter-2025-results\/"},"modified":"2025-08-11T17:57:30","modified_gmt":"2025-08-11T21:57:30","slug":"bakkt-reports-second-quarter-2025-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/bakkt-reports-second-quarter-2025-results\/","title":{"rendered":"Bakkt Reports Second Quarter 2025 Results"},"content":{"rendered":"

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Bakkt Reports Second Quarter 2025 Results<\/b><\/p>\n

\n– Raised $75 million to strengthen the balance sheet and further Bitcoin Treasury Strategy
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<\/i>– Acquired ~30% of Tokyo-listed MarushoHotta Co. LTD (\u201cMHT\u201d, TSE: 8105), to be renamed bitcoin.jp1<\/sup><\/b>, initiating Bakkt\u2019s Japan Bitcoin Treasury Strategy
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<\/i>– Significant upgrades to brokerage trading technology stack to be rolled out 2H 2025
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<\/i>– Executed commercial agreement with Distributed Technologies Research Global Ltd. (\u201cDTR\u201d), unlocking stablecoin payment capabilities
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<\/i>– Andy Main to step down as Co-CEO and Director effective today; Akshay Naheta to become Chief Executive Officer
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<\/i>– Completed sale of Bakkt Trust to Intercontinental Exchange (\u201cICE\u201d)
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<\/i>– Signed definitive agreement to divest Loyalty business; closing expected in Q3 2025
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<\/i>– Net loss of $30.2 million improved 15.1% year-over-year
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<\/i>– Adjusted EBITDA2<\/sup><\/b> loss of $12.6 million improved 29.9% year-over-year<\/i><\/p>\n

ALPHARETTA, Ga.–(BUSINESS WIRE<\/a>)–
\nBakkt Holdings, Inc. (\u201cBakkt,\u201d \u201cCompany,\u201d \u201cwe\u201d or \u201cus\u201d) (NYSE: BKKT) announced its financial and operational results for the quarter ended June 30, 2025 and provided an update on certain business developments.<\/p>\n

Management Commentary:<\/span><\/b><\/p>\n

\nAndy Main, former President and Co-CEO of Bakkt said, \u201cOver the past year as CEO of Bakkt, we strategically realigned the company to position it to unlock its full potential\u2014streamlining operations, reducing costs, exiting non-core businesses, forging a transformative partnership with DTR to expand into stablecoin payments and strengthening our leadership with Akshay Naheta and other senior executives. Today, Bakkt is a leaner, more agile organization, fully focused on the massive and accelerating digital asset trend, where we see the greatest opportunity for long-term growth.\u201d<\/p>\n

\nMr. Main continued, \u201cWith the sale of Bakkt Trust to ICE completed, a definitive agreement to sell our Loyalty business to Roman DBDR Technology Advisors in place, and the successful recapitalization of our balance sheet with $100 million in new growth capital, effective today, I am handing the reins to Akshay, who will assume the sole CEO position to lead Bakkt forward, focused fully on strengthening and expanding Bakkt\u2019s crypto platform. With Bakkt\u2019s strong regulatory moat, institutional-grade technology and Akshay\u2019s leadership and vision, I am confident we are well-positioned to lead the next wave of digital asset innovation.”<\/p>\n

\nAkshay Naheta, CEO of Bakkt, stated, \u201cIt\u2019s an honor to lead Bakkt as we accelerate our transformation into a global leader in crypto infrastructure. We are focused on three key strategic pillars that will position Bakkt at the forefront of the digital asset revolution:<\/p>\n

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  1. Enhancing our brokerage-in-a-box solution<\/b> with significant technology upgrades, enabling clients to achieve faster time-to-market with advanced brokerage and trading capabilities, improving user experience, and unlocking new monetization opportunities.\n<\/li>\n
  2. Launching our stablecoin payments solution,<\/b> Bakkt Agent, to deliver disruptive, AI-enabled, consumer finance and cross-border payment capabilities to consumers.\n<\/li>\n
  3. Expanding our Bitcoin treasury initiative<\/b>, focusing on markets where we hold unique structural advantages, starting with Japan.\u201d\n<\/li>\n<\/ol>\n

    \nMr. Naheta added, \u201cIn the upcoming quarter, we will conduct a comprehensive review of our cost structure to ensure we are optimized, driving synergies across our business, and accelerating our path to profitability.\u201d<\/p>\n

    \nMr. Naheta concluded, \u201cI want to express my sincere gratitude to our customers and shareholders for their unwavering support and patience throughout this critical phase of Bakkt\u2019s transformation. We are in the early stages of a generational shift around what money is, how money moves, and how markets operate and trade. Bakkt is uniquely positioned to lead and define this evolution.\u201d<\/p>\n\n\n\n\n
    _______________________________<\/td>\n<\/tr>\n
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    1<\/sup><\/p>\n<\/td>\n

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    \nSubject to MHT shareholder approval.<\/p>\n<\/td>\n<\/tr>\n

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    2<\/sup><\/p>\n<\/td>\n

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    \nAdjusted EBITDA is not calculated in accordance with GAAP and therefore may not be comparable to similar measures presented by other companies. For more information regarding Adjusted EBITDA, including a reconciliation to net income, refer to \u201cReconciliation of Non-GAAP Financial Measures\u201d below.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

    Second<\/span> Quarter <\/span>2025 <\/span>Key Performance Indicators:<\/span><\/b><\/p>\n