Bakkt Results Presentation Deck
FINANCIAL RESULTS / 2Q22 ADJUSTED EBITDA
2Q22 Adjusted EBITDA (non-GAAP)
o Adjusted EBITDA
of ($29.6mm)
o Adjusted EBITDA
decreased by
$4.7mm, or 19%, YOY
primarily due to
higher operating
expenses
o Used $39.7mm of
cash as we
continued to invest
in headcount and
technology to drive
future growth
bakkt
$mm's
Net loss
Depreciation and amortization
Interest (income) expense
Income tax (benefit) expense
EBITDA
Acquisition-related costs
Share-based and unit-based compensation
expense
(Gain) from change in fair value of warrant liability
Other¹
Adjusted EBITDA
2Q22
$(27.6)
6.1
(0.2)
(5.1)
$(26.8)
0.2
7.1
(10.3)
0.3
$(29.6)
Successor
¹Other comprised of ICE transition services expense and cancellation of common units.
Note: Adjusted EBITDA is a non-GAAP financial measure. For more information, please refer to the Notes section in this presentation.
1Q22
$(43.3)
5.9
(0.1)
(3.1)
$(40.7)
0.5
13.3
(2.4)
0.4
$(28.9)
Predecessor
2Q21
$(31.9)
3.0
0.1
0.2
$(28.6)
2.5
1.3
0.0
0.0
$(24.9)
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