Bakkt Results Presentation Deck
NOTES
Statement
of
cash flows
A
$mm's
Cash flows from operating activities:
Net loss
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization
Non-cash lease expense
Share-based compensation expense
Unit-based compensation expense
Forfeiture and cancellation of common units
Recognition of affiliate capital contribution
Amortization of customer consideration asset
Deferred income taxes
Impairment of long-lived assets
Goodwill and intangible assets impairments
Loss on disposal of assets
Loss on sale of shares of affiliate stock
(Gain) loss from change in fair value of warrant liability
(Gain) on extinguisment of software license liability
Modification and vesting of Class C warrant
Other
Changes in operating assets and liabilities:
Accounts receivable
Prepaid insurance
Deposits with clearinghouse
Accounts payable and accrued liabilities
Due to related party (affiliate in Predecessor period)(¹)
Deferred revenue.
Operating lease liabilities
Customer funds payable
Other assets and liabilities
Net cash used in operating activities
Cash flows from investing activities:
Capitalized internal-use software development costs and other capital expenditures
Purchase of available-for-sale securities
Proceeds from the maturity of available-for-sale securities
Interest earned on marketable securities
Proceeds from disposal of assets
Proceeds from sale of shares of affiliate stock
Cash acquired through business combination
Net cash provided by (used in) investing activities:
Cash flows from financing activities:
Payment of finance lease liability
Repurchase of redeemed Class A common stock
Repurchase and retirement of Class A common stock
Payment of deferred underwriting fee
Proceeds from the exercise of warrants
Proceeds from PIPE, net of issuance costs
Net cash provided by (used in) financing activities:
Effect of exchange rate changes.
Net increase (decrease) in cash, cash equivalents, restricted cash and customer funds
Cash, cash equivalents, restricted cash and customer funds at the beginning of the period
Cash, cash equivalents, restricted cash and customer funds at the end of the period
Note: All financial data on this slide in unaudited.
¹ As a result of the VIH Business Combination, ICE and its affiliates are no longer our affiliates.
Successor
FY22
$(1,987.5)
25.4
2.7
31.6
0.6
(0.2)
(11.6)
11.5
(1,819.6)
3.8
(16.6)
0.3
(7.2)
9.4
0.7
0.6
(2.4)
4.2
(2.8)
(118.0)
(30.5)
(306.6)
165.2
0.4
(171.5)
(2.6)
(2.6)
(0.9)
(293.0)
408.4
$115.4
10/15/21 -
12/31/21
$(164.8)
5.4
0.2
1.0
44.9
(0.2)
11.7
1.2
79.4
(1.3)
(0.1)
(1.1)
(31.1)
(19.7)
(1.7)
0.1
(7.3)
(83.4)
(3.6)
30.8
27.3
(0.4)
(84.5)
(7.3)
37.1
312.0
256.9
(0.3)
200.5
207.9
$408.4
Predecessor
1/1/21 -
10/14/21
$(139.2)
9.5
0.9
33.9
0.2
1.7
3.6
0.1
1.0
0.7
(6.6)
(0.4)
20.2
23.3
0.5
1.0
(0.8)
0.3
(0.8)
(50.9)
(12.1)
1.8
(10.3)
(0.1)
(0.1)
0.2
(61.1)
91.9
$30.8
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