Bakkt Results Presentation Deck
FINANCIAL RESULTS
3Q22 Condensed balance sheet
●
Strong balance sheet with $273.7mm of
available cash and other highly liquid assets
• Noncash goodwill and intangible assets
impairments charge of $1,547.7mm in
accordance with GAAP; does not reflect
issues with core business fundamentals,
which remain strong
• Used $42.1mm of cash
• Capex spend of $7.8mm
• Includes an accelerated one-time $9.2mm cash
payment to facilitate migration to a new
purchasing card facility
A
●
Cash usage expected to decline due to increased
revenue in 2023, completion of large-dollar
investments in 2022 and benefits from the 4Q
restructuring related to further focusing the
business
$mm's
Assets
Cash & cash equivalents
Available-for-sale securities
Other current assets
Total current assets
Goodwill
Intangible assets, net
Other assets
Total assets
Liabilities and stockholders' equity
Current liabilities
Noncurrent liabilities
Total liabilities
Total stockholders' equity
Noncontrolling interest
Total equity
Total liabilities and stockholders' equity
As of 9/30/22
(unaudited)
$159.9
113.9
185.3
$459.0
137.2
214.4
68.0
$878.5
$184.3
35.4
$219.7
185.3
473.5
658.8
$878.5
As of 12/31/21
$391.4
72.2
$463.5
1,527.1
388.5
35.2
$2,414.3
$73.6
46.5
$120.1
468.4
1,825.8
2,294.2
$2,414.3
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