Bakkt Q2 revenue up 13.3%

Bakkt

11/08/2025 21:42

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.)