Bakkt Results Presentation Deck
FINANCIAL RESULTS / OPERATING EXPENSE
Operating expense
4Q21 total expense of $52.6mm for Predecessor
Compensation expense includes $30.6mm of
non-cash compensation related to the
business combination
Other expense includes $12.7mm of
acquisition-related expense
4Q21 total expense of $86.0mm for Successor
Compensation expense includes $47.2mm of
non-cash compensation related to the
business combination
bakkt
SG&A¹ of $8.5mm primarily driven by
continued investments in the business to drive
future growth
Other expense includes $1.5mm of acquisition-
related expense
¹ Selling, general and administrative expense
$38.2
$20.8
$4.7
$12.6
4Q20
$36.6
$15.2
$6.1
$15.2
1Q21
Expense ($mm)
Predecessor
$39.8
$10.9
$9.0
$19.9
2Q21
■Compensation
$39.0
$12.3
$4.4
$22.2
3Q21
SG&A
$52.6
$18.0
$0.8
$33.9
4Q21
Other
$86.0
$15.3
$8.5
$62.2
4Q21
Successor
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