Bakkt Q2 revenue up 13.3%
OverviewBakkt Q2 2025 total revenue rises 13.3% yr/yr driven by crypto market activityNet loss improves 15.1% yr/yr, adjusted EBITDA loss improves 29.9% yr/yrCo raises $75 mln for Bitcoin Treasury Strategy, acquires stake in MarushoHotta Co.OutlookBakkt to enhance brokerage technology in 2H 2025Company plans stablecoin payments solution launchBakkt expands Bitcoin treasury strategy in JapanCompany to review cost structure for profitabilityResult DriversCRYPTO 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 2024OPERATING EXPENSES - 12.1% yr/yr increase in total operating expenses due to higher crypto costs and execution, clearing, and brokerage fees from increased trading volumeRESTRUCTURING ACTIONS - Reduction in SG&A and compensation expenses from 2024 restructuring contributed to a 16% yr/yr improvement in operating lossKey DetailsMetricBeat/MissActualConsensus EstimateQ2 Revenue$577.90 mlnQ2 Net Income-$30.20 mlnQ2 Adjusted EBITDA-$12.60 mlnQ2 Operating Expenses$596.40 mlnQ2 Operating Income-$18.50 mlnPress Release: