Bakkt Holdings, Inc. (NYSE:BKKT) Q2 2023 Earnings Conference Call August 10, 2023 9:00 AM ET

Company Participants

Ann DeVries - Head, IR

Gavin Michael - President, CEO & Director

Karen Alexander - CFO & Principal Financial Officer

Conference Call Participants

Trevor Williams - Jefferies

Andrew Bond - Rosenblatt Securities

Operator

Greetings, and welcome to the Bakkt Second Quarter 2023 Earnings Conference Call. [Operator Instructions]. As a reminder, this conference call is being recorded. I would now like to turn it over to Ann DeVries, Head of Investor Relations at Bakkt. Please go ahead.

Ann DeVries

Good morning, and thank you for joining us for Bakkt's Second Quarter Earnings Call. Today's presentation includes a separate earnings call presentation that can be found on our Investor Relations website at www.investors.bakkt.com will contain certain forward-looking statements. 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 a more complete discussion on forward-looking statements and the risks and uncertainties related to Bakkt's business, please refer to the filings with the Securities and Exchange Commission.

During today's presentation, in addition to discussing results that are calculated in accordance with generally accepted accounting principles, we will refer to certain non-GAAP financial measures. For more information on this, the basis of the presentation for our financial results and our non-GAAP measures, please refer to our earnings release which was filed this morning with the SEC.

Joining me on today's call are Gavin Michael, Chief Executive Officer; and Karen Alexander, Chief Financial Officer. After our prepared remarks, we will answer questions we will receive from our investors through the Say Technologies platform. After that, Gavin and Karen will be available to answer questions from the analysts community.

I'll now turn it over to Gavin.

Gavin Michael

Thank you, Ann. Good morning, everyone, and thanks for joining. We're making meaningful progress executing on the key priorities we set out at the beginning of the year. We expanded our crypto platform through the acquisition and integration of Apex Crypto while activating and broadening our client network and we've been prudent with capital allocation. We're winning new custody and crypto trading clients and building strategic alliances with prominent players as our capabilities and best-in-class infrastructure resonates with the market.

We're expanding into new international markets alongside our clients, with Latin America expected to launch in the fourth quarter and other markets such as the U.K., European Union, Hong Kong and Australia to follow. We're focused on delivering solid results for our existing loyalty clients as we work together to grow transaction volume.