For the third quarter, Bakkt reported a net loss of $1.5 billion, mostly due to its previously disclosed goodwill impairment charge.
Without accounting for impairment charges, the report indicates operating expenses of $60 million, more than double the nearly $30 million reported for the same period in the previous year.
Intercontinental Exchange (ICE), the platform’s largest shareholder, wrote down their investment from $1.5 billion in June to around $400 million in September, which is more than the $1.4 billion anticipated. As a result, the platform recorded a $1.54 billion impairment in the third quarter.
The third quarter’s revenue for the company was $12.9 million, up 41% from the same period last year.
As Coincu reported, Bakkt had acquired Apex Crypto, a crypto trading infrastructure startup, from Apex Fintech Solutions.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
Author
News
Bakkt Reports Q3 Net Revenue Of $12.9 Million
For the third quarter, Bakkt reported a net loss of $1.5 billion, mostly due to its previously disclosed goodwill impairment charge.
Without accounting for impairment charges, the report indicates operating expenses of $60 million, more than double the nearly $30 million reported for the same period in the previous year.
Intercontinental Exchange (ICE), the platform’s largest shareholder, wrote down their investment from $1.5 billion in June to around $400 million in September, which is more than the $1.4 billion anticipated. As a result, the platform recorded a $1.54 billion impairment in the third quarter.
The third quarter’s revenue for the company was $12.9 million, up 41% from the same period last year.
As Coincu reported, Bakkt had acquired Apex Crypto, a crypto trading infrastructure startup, from Apex Fintech Solutions.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
Other Posts
Related Posts
Latest
Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance
Clanker Token Trading Volume Hits $59.8 Million High On November 21
Press Release
Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance
New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot
