Bakkt was founded in 2018 to offer tech services for crypto investors. The Alpharetta, Georgia-based company in its latest fiscal quarter reported total revenue of $328.4 million and an operating loss of $27.4 million, a 48% improvement from the prior year.
In that quarterly report, Bakkt flagged that the company "may not be able to continue as a going concern."
While Bakkt's management has concluded that it has "sufficient capital to continue as a going concern for at least 12 months from the date of this Report," the report acknowledged, "that determination may change in the future."