Bakkt reports Q1 EPS $1.13 vs. ($1.86) last year

Reports Q1 revenue $1.07B vs. $854.6M last year. “The planned strategic collaboration between DTR and Bakkt (BKKT) will represent a transformative convergence of capabilities that we believe will position us to capture significant share in the rapidly expanding stablecoin payments ecosystem,” said Akshay Naheta, Co-CEO of Bakkt. “By integrating DTR’s cutting-edge payments infrastructure and AI capabilities with Bakkt’s U.S. regulated trading platform, we will create a comprehensive ecosystem designed for frictionless movement between crypto trading, AI-powered solutions, and global digital payments. Our integration roadmap includes the launch of innovative products that we expect will redefine user experiences in the digital asset space while adhering to all compliance standards. We’re committed to bridging the gap between traditional finance and decentralized finance through AI-integrated payments platforms, creating value for both institutional and retail customers with our groundbreaking products and solutions we look forward to bringing to market. We’ve also strengthened our executive leadership team with two key hires: Ankit Khemka as Chief Product Officer, to accelerate the rollout of our innovative product roadmap, and Phillip Lord as President of Bakkt International, to further expand our sales leads for helping with the launch of established, global fintech platforms in the U.S. market. Additionally, we’re conducting a thorough and strategic review of our priorities and organizational structure. We see meaningful opportunities to drive sharper resource allocation, unlock cost efficiencies, and deliver savings across the business, which will be reflected over the next few quarters.”