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Bakkt Holdings | 10-Q: Q2 2024 Earnings Report

Bakkt Holdings | 10-Q: Q2 2024 Earnings Report

Bakkt Holdings | 10-Q:2024财年二季报
美股SEC公告 ·  2024/08/14 19:09

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Bakkt Holdings reported Q2 2024 revenue of $509.9 million, up 47% year-over-year, driven by increased crypto trading volume amid improved market conditions. Crypto services revenue grew 48.3% to $497.1 million, while loyalty services revenue rose 3.7% to $12.8 million. The company posted a net loss of $35.5 million, narrowing from $50.5 million in Q2 2023.Operating expenses increased to $531.9 million from $398.7 million last year, primarily due to higher crypto trading costs. The company achieved significant cost reductions in compensation and benefits, which decreased 17.3% to $22.4 million, while selling, general and administrative expenses fell 27.1% to $5.5 million through restructuring efforts.Looking ahead, Bakkt secured a $40 million revolving credit facility from ICE and raised $46.5 million through equity offerings to strengthen its financial position. The company continues to optimize its operations, having completed a workforce reduction in May 2024 expected to generate $13 million in annual savings. Assets under custody grew to $974.5 million from $701.6 million at year-end 2023.
Bakkt Holdings reported Q2 2024 revenue of $509.9 million, up 47% year-over-year, driven by increased crypto trading volume amid improved market conditions. Crypto services revenue grew 48.3% to $497.1 million, while loyalty services revenue rose 3.7% to $12.8 million. The company posted a net loss of $35.5 million, narrowing from $50.5 million in Q2 2023.Operating expenses increased to $531.9 million from $398.7 million last year, primarily due to higher crypto trading costs. The company achieved significant cost reductions in compensation and benefits, which decreased 17.3% to $22.4 million, while selling, general and administrative expenses fell 27.1% to $5.5 million through restructuring efforts.Looking ahead, Bakkt secured a $40 million revolving credit facility from ICE and raised $46.5 million through equity offerings to strengthen its financial position. The company continues to optimize its operations, having completed a workforce reduction in May 2024 expected to generate $13 million in annual savings. Assets under custody grew to $974.5 million from $701.6 million at year-end 2023.
Bakkt控股报告2024年第二季度营业收入为$50990万,同比增长47%,这得益于在市场条件改善的情况下加密交易量的增加。加密服务收入增长48.3%至$49710万,而忠诚度服务收入上升3.7%至$1280万。公司净亏损为$3550万,较2023年第二季度的$5050万有所缩窄。营业费用从去年的$39870万增加至$53190万,主要由于加密交易成本上升。公司在薪酬和福利方面实现了显著的成本削减,下降了17.3%至$2240万,而销售、一般和行政费用通过重组努力降幅达27.1%,降至$550万。展望未来,Bakkt从ICE获得了$4000万的循环信用额度,并通过股权融资募集了$4650万以增强其财务状况。公司继续优化其运营,在2024年5月完成了一次裁员,预计将产生$1300万的年节省。2023年底受托资产从$70160万增长至$97450万。
Bakkt控股报告2024年第二季度营业收入为$50990万,同比增长47%,这得益于在市场条件改善的情况下加密交易量的增加。加密服务收入增长48.3%至$49710万,而忠诚度服务收入上升3.7%至$1280万。公司净亏损为$3550万,较2023年第二季度的$5050万有所缩窄。营业费用从去年的$39870万增加至$53190万,主要由于加密交易成本上升。公司在薪酬和福利方面实现了显著的成本削减,下降了17.3%至$2240万,而销售、一般和行政费用通过重组努力降幅达27.1%,降至$550万。展望未来,Bakkt从ICE获得了$4000万的循环信用额度,并通过股权融资募集了$4650万以增强其财务状况。公司继续优化其运营,在2024年5月完成了一次裁员,预计将产生$1300万的年节省。2023年底受托资产从$70160万增长至$97450万。
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