Bakkt Results Presentation Deck
NOTES
Adjusted EBITDA reconciliation.
$mm's
Net loss
Depreciation and amortization
Interest (income) expense, net
Income tax (benefit) expense
EBITDA
Acquisition-related transaction costs
Share-based and unit-based compensation expense
(Gain) loss from change in fair value of warrant liability
Goodwill and intangible assets impairments
Impairment of long-lived assets
Retructuring expenses
Other¹
Adjusted EBITDA loss
4Q22
$(323.9)
Non-GAAP
4.5
2.9
(3.5)
271.9
11.5
2.3
0.3
$(30.5)
Successor
10/15/2021 -
3Q22 12/31/2021
$(164.8)
5.4
$(1,592.5)
7.0
6.4
(1.0)
(0.6)
(0.6)
$(320.4) $(1,587.4)
(2.5)
0.5
8.8
(0.4)
1,547.7
0.2
$(30.7)
FY2022
$(1,987.5)
25.4
(1.9)
11.8
(11.3)
$(147.7) $(1,975.3)
1.6
45.9
79.4
1.2
(0.9)
$(20.5)
5.7
32.1
(16.6)
1,819.6
11.5
2.3
1.0
$(119.7)
Predecessor
10/1/2021 -
1/1/2021-
10/14/2021 10/14/2021
$(139.2)
$(49.7)
0.5
(0.8)
$(49.9)
12.7
30.7
3.6
$(2.9)
Note: All financial data on this slide in unaudited. Adjusted EBITDA is a non-GAAP financial measure. For more information, please refer to the Notes section in this presentation.
¹Other comprised of ICE transition services expense and cancellation of common units in the quarterly and annual 2021 and 2022 periods, as well as
gain on extinguishment of software license liability in the quarterly and annual 2021 periods, and non-recurring bitcoin sale income in the annual 2021 period.
9.6
0.2
(0.6)
$(130.0)
24.8
33.9
3.6
(1.0)
$(68.7)
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