Bakkt Holdings Reports Q4, Shares Climb On Strong FY24 Guidance
Portfolio Pulse from Erica Kollmann
Bakkt Holdings, Inc. (NYSE:BKKT) reported Q4 financial results with losses of 29 cents per share, missing analyst estimates. Sales were $15.1 million, slightly below expectations. Despite this, shares climbed due to strong FY24 revenue guidance ranging from $3.292 billion to $5.114 billion. The company plans to scale its business, expand its product set, and manage expenses efficiently. Bakkt's strengthened balance sheet and improving crypto market conditions contribute to a positive outlook for 2024.
March 25, 2024 | 9:12 pm
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Bakkt Holdings reported lower-than-expected Q4 earnings but provided strong FY24 revenue guidance, leading to an after-hours stock price increase.
The short-term impact on BKKT's stock price is likely positive due to the strong future revenue guidance provided by the company, despite the Q4 earnings miss. The optimistic outlook for 2024, including plans for business scaling and improved market conditions, has positively influenced investor sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100