Bakkt reports Q1 EPS (41c) vs. $1.13 last year

Reports Q1 revenue $243.6M vs. $1.07B last year. “This quarter marks the beginning of a new chapter for Bakkt (BKKT), one defined by execution against what we believe is a generational opportunity,” said Akshay Naheta, CEO of Bakkt. “We believe stablecoin infrastructure represents one of the most significant structural transformations in global finance in decades, with an addressable market measured in the trillions. In markets of this magnitude, success does not require being the single largest player – it requires being a trusted, regulated, institutional-grade platform positioned at the intersection of technology, compliance, and distribution. With the successful closing of the DTR acquisition on April 30, Bakkt now brings together under one roof the technology, talent, and regulatory infrastructure necessary to compete at scale, including pan-U.S. money transmission licenses, the New York BitLicense, DTR’s modern payments stack, and a European Virtual Asset Service Provider license. As regulatory clarity continues to emerge through initiatives such as the GENIUS Act and the CLARITY Act, we believe the strategic value of this regulatory and technological foundation only increases.”