Bakkt Results Presentation Deck
FINANCIAL RESULTS/1Q22 SUMMARY
Summary of 1Q22 condensed results
o Net revenue of $12.5
mm increased by
$4.4mm, or 54%, YOY
primarily driven by
strong transaction
revenue from the
loyalty redemption
business
O Expense of $61.0mm
increased $24.5mm,
or 67%, YOY primarily
due to increases in
noncash
compensation
bakkt
$mm's
Net revenues
Operating expenses
Operating loss
Gain (loss) from FV of warrant liability
Other (expense) income
Interest income (expense), net
Loss before income taxes
Income tax benefit (expense)
Net loss
Less: Net loss for noncontrolling interest
Loss attributable to Bakkt Holdings, Inc.
Average basic shares (mm)
Average diluted shares (mm)
Net loss per basic share ($)
Net loss per diluted share ($)
1Q22
$12.5
61.0
$(48.5)
2.4
(0.5)
0.1
$(46.5)
3.1
$(43.3)
(36.2)
$(7.1)
57.2
258.6
$(0.12)
$(0.14)
Successor
10/15-12/31 10/1-10/14
$11.5
$2.2
52.6
86.0
$(50.5)
$(74.5)
(79.4)
0.8
0.01
$(153.1)
(11.8)
$(164.8)
(120.8)
$(44.0)
54.0
54.0
Predecessor
$(0.81)
$(0.81)
0.0
0.0
(0.0)
$(50.5)
0.8
$(49.7)
1Q21
$8.1
36.6
$(28.4)
0.0
(0.3)
(0.0)
$(28.8)
0.0
$(28.8)
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