Bakkt revenue rises to $402M in Q3, but stock drops 13% as warrant charge drives deeper net loss
Bakkt reported Q3 revenue of $402.2 million, rising from $316.3 million in the same quarter last year, while also recording a net loss of about $21.6 million due to a $37.2 million non-cash charge tied to changes in the value of warrant liabilities linked to a direct offering. The number missed expectations and the stock [...]