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Sep 30, 2022
Bakkt Q3 2022 Earnings Report
Bakkt's net revenue increased, driven by travel loyalty redemptions, and the company announced the acquisition of Apex Crypto.
Key Takeaways
Bakkt reported a 41% year-over-year increase in net revenue, reaching $12.9 million. The company experienced strong customer activity with digital asset conversion volume up 73% year-over-year. Bakkt also announced the acquisition of Apex Crypto to expand client verticals and scale.
Net revenue increased 41% year-over-year to $12.9 million.
Digital asset conversion volume increased 73% year-over-year.
Announced the signing of a definitive agreement to acquire Apex Crypto.
Available cash and other liquid assets of over $273.7 million.
Forward Guidance
Bakkt expects the acquisition of Apex Crypto will accelerate growth plans post-close as it will significantly expand client verticals and cryptocurrency product offerings. The transaction is expected to close in the first half of 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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