Crypto-Follow logo Crypto-Follow logo
Seeking Alpha 2022-05-12 13:26:00

Bakkt Holdings Q1 GAAP loss narrows from prior quarter

Bakkt Holdings (NYSE:BKKT) Q1 loss narrowed from the its predecessor's Q4 and transacting accounts fell from the prior period due to seasonality. Meanwhile, the digital asset platform's shares are down 9.3% as bitcoin (BTC-USD) and crypto, in general, continues to tumble. Q1 EPS of -$0.14 vs. -$0.60 in the prior period (Oct. 15-Dec. 31, 2021). Recall that Bakkt (BKKT) became a publicly traded company on Oct. 18, 2021 after it combined with Victory Park's SPAC VPC Acquisition Holdings. Adjusted EBITDA of -$28.9M vs. $0.3M in Q4 2021 and -$20.5M for Oct.15-Dec. 31, 2021. Combined net revenue of $12.5M vs. $13.7M in the prior quarter and $8.1M in predecessor's Q1 2021. In crypto services, Bakkt (BKKT) has signed up four banks, giving their retail clients access to buy, sell, and hold crypto. Operating expenses of $61M vs. $86.0M in Q4. Q1 transacting accounts were 678K vs. 867K in Q4 and 538K in

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer