Bakkt Q3 financial report: Revenue was US$204.8 million, net loss was US$51.7 million, loss decreased sequentially

The Bakkt trading platform released its financial report for the third quarter of 2023. The financial report shows that total revenue for the quarter was US$204.8 million (including total cryptocurrency revenue and net loyalty revenue), of which total cryptocurrency service revenue was US$191.8 million, and total operating expenses were US$257.6 million. Operating loss was $52.9 million, down year-over-year. Net loss was US$51.7 million, down year-on-year. Adjusted EBITDA (non-GAAP) loss was $21.6 million, a decrease of 30% year-over-year, mainly due to lower compensation and benefit costs.