Bakkt Results Presentation Deck
NOTES
Adjusted EBITDA reconciliation
Non-GAAP
(unaudited)
A
$mm's
Net loss
Depreciation and amortization
Interest (income) expense, net
Income tax (benefit) expense
EBITDA
Acquisition-related expenses
Share-based and unit-based compensation expense
(Gain) from change in fair value of warrant liability
Impairment of assets
Other¹
Adjusted EBITDA
Successor
3Q22
$(1,592.5)
6.4
(0.6)
(0.6)
$(1,587.4)
0.5
8.8
(0.4)
1,547.7
0.2
$(30.7)
2Q22
$(27.6)
6.1
(0.2)
(5.1)
$(26.8)
0.2
7.1
(10.3)
0.3
$(29.6)
Predecessor
3Q21
$(28.8)
3.3
0.1
$(25.5)
1.8
0.6
(1.0)
$(24.1)
¹Other comprised of ICE transition services expense and cancellation of common units in the current period and non-recurring bitcoin sale income, net in prior period.
Note: Adjusted EBITDA is a non-GAAP financial measure. For more information, please refer to the Notes section in this presentation.
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