Bakkt Investor Day Summary Company Overview - **Company**: Bakkt (NYSE: BKKT) - **Event**: 2026 Investor Day held on March 17, 2026 Key Points and Arguments Company Strategy and Growth - Bakkt is entering a new growth phase with strong momentum from regulatory clarity and economic tailwinds in the payments and financial services sector [4][5] - The company has rebuilt its governance, capital structure, and technology, positioning itself to lead in digital finance infrastructure [4][5] - Bakkt's mission is to create a secure infrastructure for money to work globally, addressing issues of speed, cost, and transparency in financial transactions [6] Market Opportunity - The annual settlement of stablecoins exceeds $30 trillion, with Bitcoin increasingly recognized as a treasury asset by corporations and sovereigns [7] - Bakkt is strategically positioned to capitalize on the tokenization of real-world assets, which is transitioning from pilot projects to production [7] Business Engines - Bakkt operates through three complementary engines: 1. **Bakkt Markets**: Institutional-grade infrastructure for digital assets, enhancing market access for institutions [7][8] 2. **Bakkt Agent**: Programmable money and AI-driven finance infrastructure, designed for frictionless and intelligent transactions [7][8] 3. **Bakkt Global**: Focused on international expansion and strategic value creation through disciplined investments [8] Partnerships and Collaborations - Bakkt has established partnerships with tier-one telecom companies in the U.S. and Europe, enhancing its fintech product connectivity [10] - Collaborations with companies like Betterment and Zoth integrate Bakkt's APIs into their platforms, generating immediate transaction volume [10] - The company is in advanced discussions for additional partnerships that will further enhance its market reach and reduce customer acquisition costs [10] Key Performance Indicators (KPIs) - For **Bakkt Markets**, the focus is on total transaction volume, particularly with the integration of DTR, which enhances stablecoin capabilities [11] - For **Bakkt Agent**, the metric is monthly active users, reflecting platform adoption and distribution reach [11] - For **Bakkt Global**, strategic asset value will be monitored, with significant returns already seen in Japan (3x) and India (5x) [12] Financial Performance - Fiscal 2025 saw total revenue decline by 32% year-over-year, from $3.4 billion to $2.3 billion, primarily due to reduced transaction volumes and lower crypto trading activity [49][50] - Operating expenses decreased from $3.5 billion to $2.5 billion, with a notable increase in stock-based compensation [50][51] - Adjusted EBITDA improved from a loss of $57 million to a loss of $33 million, indicating a positive trend in operational performance [52] Regulatory Environment - Bakkt benefits from a favorable regulatory landscape, with recent legislation supporting stablecoin and digital asset markets [15] - The company has established a robust regulatory framework, allowing it to operate efficiently across various jurisdictions [15][66] Future Outlook - Bakkt aims to expand its global footprint selectively, focusing on high-growth fintech opportunities with the right regulatory environment and management teams [42][43] - The company has already seen significant returns from its investments in Japan and India, with plans for further expansion [39][41] Leadership and Governance - Recent leadership changes and board additions have strengthened Bakkt's governance framework, aligning it with its strategic goals [46][47] - The company has divested non-core assets and simplified its capital structure, positioning itself for future growth [47][56] Conclusion - Bakkt is strategically positioned to leverage its infrastructure and partnerships to capitalize on the growing digital finance market, with a clear focus on regulatory compliance and operational efficiency [4][15][66]

March 2026 Investor Day 2026 $74,743.22 1.0 BTC Important notice Unless the context otherwise provides, "we," "us," "our," "Bakkt" and like terms refer to Bakkt Holdings, Inc. and its subsidiaries. FORWARD-LOOKING STATEMENTS This presentation and accompanying remarks contain "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by word ...

Product Launch - Messari's Stablecoin API is now live, offering access via email [1] - The API supports over 25 stablecoins [1] Data & Metrics - The API provides core on-chain metrics [1] - It offers network-level breakdowns [1] - Historical time series data is available [1]

Product Updates - Messari launched a series of product updates in Q2, aiming to provide comprehensive data solutions [1] - The updates include Messari Homepage, Project Pages, Mobile Upgrades, Stablecoin API, Networks API, Portals V2, New Taxonomy, Copilot V2, and AI Toolkit [1] Data Solutions - Messari focuses on providing all the data users need in one place, accessible via their platform [1]

Product Updates - Messari launched several product updates in Q2 [1] - Updates include Mobile Upgrades, Stablecoin API, Networks API, Portals V2, New Taxonomy, Copilot V2, and AI Toolkit [1] Platform Features - Messari provides data through its Homepage and Project Pages [1] - The platform aims to offer comprehensive data in one place [1]