Bakkt Holdings, Inc. (NYSE:BKKT) Q4 2023 Earnings Call Transcript March 25, 2024 5:00 PM ET

Company Participants

Ann DeVries - Head, IR
Andy Main - Incoming CEO
Karen Alexander - CFO

Conference Call Participants

Andrew Bond - Rosenblatt Securities
Peter Christiansen - Citi
John Roy - Water Tower Research

Operator

Greetings, and welcome to the Bakkt Quarter Fourth and Full Year 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. As a reminder, this conference call is being recorded.

I will now turn the call over to Ann DeVries, Head of Investor Relations at Bakkt. Please go ahead.

Ann DeVries

Good evening, and thank you for joining us for Bakkt's fourth quarter earnings call.

Today's presentation, including the separate earnings call presentation that can be found at 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 its 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 Andy Main, Bakkt's Incoming Chief Executive Officer; and Karen Alexander, Chief Financial Officer. After our prepared remarks, we will answer questions we receive from our investors through the Say Technologies platform. After that, Andy and Karen will be available to answer questions from the analyst community.

I'll now turn it over to Andy.

Andy Main

Thank you, Ann. And good evening, everyone. It's great to speak to you on my first Bakkt earnings call. Let me firstly start off by saying how excited I am to be Bakkt CEO. I want to thank you for being here today and for your ongoing interest in Bakkt.

Seeing it's our first time together, I thought I should do a quick introduction with a focus on my most recent experience. I've been working in digital platforms, championing technologies and selling products for the bulk of my career. Starting in 2013, I was the head of Deloitte Digital, And over seven years grew that business from a startup into a multi-billion dollar business and a globally recognized brand. After that, in 2020, I moved on to become Ogilvy's global CEO, where I led a rapid turnaround of a then lagging business to become the world's leading creative agency in just two years, one year ahead of market expectations. I have also been a Bakkt Board Member since October 2021. I've certainly gained a lot of satisfaction from achieving the ambitions of those businesses. So that's enough about me and now onto talking about Bakkt.