Bakkt Holdings, Inc. (NYSE:BKKT) Q2 2025 Earnings Conference August 11, 2025 5:00 PM ET
Company Participants
Akshay Naheta – Co-CEO & Director
Andrew A. Main – President, Co-CEO & Director
Cody Fletcher – Corporate Participant
Karen J. Alexander – CFO & Principal Financial Officer
Operator
Greetings, and welcome to the Bakkt Second Quarter 2025 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded. I will now turn the call over to Cody Fletcher, Investor Relations adviser at Bakkt. Please go ahead.
Cody Fletcher
Hello, everyone, and thank you for joining Bakkt’s Second Quarter 2025 Earnings Call. Before we get started, I’d like to remind everyone that today’s earnings call includes a separate supplemental presentation that can be found at our Investor Relations website at investors.bakkt.com.
During today’s call, we will make certain forward-looking statements, including statements regarding our signed commercial agreement with Distributed Technologies Research, or DTR, and the anticipated integration of DTR’s stablecoin and AI payment infrastructure with Bakkt’s regulated platform. We’ll also discuss our strategic realignment into a pure-play crypto infrastructure company, including the divestiture of our Custody business to ICE, including expected time lines, and the definitive agreement signed regarding the divestiture of our Loyalty business, as well as expectations regarding the stablecoin payments market, regulatory environment and our product road map.
These statements are based on management’s current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from those expressed or implied in such forward-looking statements. For additional information regarding forward-looking statements and risk factors, please refer to our filings with the Securities and Exchange Commission, including our quarterly report on Form 10-Q for the second quarter of 2025.
Further, in addition to discussing results that are calculated in accordance with generally accepted accounting principles, we
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