Bakkt Results Presentation Deck
FINANCIAL RESULTS
4Q22 Operating expenses
Compensation
Total expenses
• Total operating expenses of
$345.1mm increased YoY due to
non-cash goodwill and intangible
assets impairment charge of
$271.9mm
●
Operating expenses (other than
goodwill and intangible assets
impairments) of $73.2mm
Compensation expenses
• Total compensation expenses of
$31.9mm down 67% YoY due to a
decrease in non-cash compensation
expenses
Other¹ expenses
Includes restructuring expenses of
$2.3mm
●
1023 expected restructuring charge
of ~$3.7mm-$4.1mm, which includes
~$2.3mm-$2.7mm of cash payments
SG&A
Other
Goodwill & intangible assets impairments
Predecessor
$52.6
$18.0
$33.9
$0.8
4Q21
predecessor
$86.0
$15.3
$8.5
$62.2
4021 successor
Expenses ($mm)
$61.0
$16.5
$9.4
$35.1
1Q22
Successor
$57.1
$13.1
$9.8
$34.2
2Q22
Note: All financial data on this slide is unaudited. Bar chart not fit to scale.
8
¹ Other comprised of Professional services, Technology & communication, acquisition-related expenses, Depreciation and amortization, Related party expenses,
Impairments of long-lived assets, Restructuring costs, and Other operating expenses.
$1,607.8
$1,547.7
$14.4
$7.8
$37.8
3Q22
$73.2
$345.1
$271.9
$32.8
$8.4
Op. exp.
other than
impairment
$60.0 $31.9
4Q22
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