Bakkt Results Presentation Deck
FINANCIAL RESULTS/4Q21 ADJUSTED EBITDA
4Q21 adjusted EBITDA (non-GAAP)
4Q21 adjusted EBITDA
of $0.3 mm for the
Predecessor and
($21.8mm) for the
Successor
bakkt
$mm's
Net loss
Depreciation & amortization
Interest
Income tax benefit (expense)¹
EBITDA
Acquistion transaction cost
Share-based & unit-based comp
Loss from FV of warrant liability
Other²
Adjusted EBITDA
Successor
10/15-12/31 10/1-10/14
($153.1)
5.4
(0.0)
0.1
($147.6)
1.6
44.5
79.4
0.3
($21.8)
Predecessor
3Q21
($28.8)
3.3
0.1
($49.7)
0.5
0.0
(0.8)
($49.9)
12.7
33.9
0.0
3.6
$0.3
'Income tax (benefit) expense for Successor reflects management's current estimate. See "Basis of Presentation." As a result, Income tax benefit
(expense) and items derived from it are subject to change
2 Includes restructuring charges, impairment of long-lived assets, cancellation of common units, gain on extinguishment of software license liability,
ICE transition services expense, non-recurring bitcoin sale income, net and transition services to Bakkt clearing
Note: Adjusted EBITDA is a non-GAAP financial measure. For more information, please refer to the Notes section in this presentation
0.0
($25.5)
1.8
0.6
0.0
(1.0)
($24.1)
4Q20
($29.6)
2.6
0.1
0.4
($26.5)
1.9
1.7
0.0
11.8
($11.0)
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