Bakkt Results Presentation Deck
FINANCIAL RESULTS
Summary of 3Q22 condensed results
●
Net revenue of $12.9mm
increased by $3.8mm, or 41%,
YOY primarily driven by
transaction revenue from the
loyalty redemption business
Operating expense of $60.0mm
(excluding impairment)
• Non-cash goodwill and intangible
assets impairments of
$1,547.7mm
• Total shares outstanding of
264mm¹
• Class A 78.6mm shares
• Class V 185.4mm shares
20.5mm Class V shares exchanged
as of October 31, 2022
$mm's (unaudited)
Net revenues
Goodwill and intangible assets impairments
Operating expenses, excluding impairment
Operating loss
Interest income (expense), net
Gain from change in FV of warrant liability
Other income, net
Loss before income taxes
Income tax benefit
Net loss
Less: net loss for noncontrolling interest
Net loss attributable to Bakkt Holdings, Inc.
Weighted average basic shares (mm)
Weighted average diluted shares (mm)
Net loss per basic share
Net loss per diluted share
1 As of October 31, 2022. Intercontinental Exchange, Inc. ("ICE") owns an aggregate of 66% of shares, consisting of both Class A and Class V
Successor
3Q22
$12.9
1,547.7
60.0
$(1,594.9)
0.6
0.4
0.7
$(1,593.2)
0.6
$(1,592.5)
(1,224.4)
$(468.1)
76.6
76.6
$(6.11)
$(6.11)
2Q22
$13.6
57.1
$(43.6)
0.2
10.3
0.4
$(32.7)
5.1
$(27.6)
(23.7)
$(3.9)
71.2
71.2
$(0.05)
$(0.05)
Predecessor
3Q21
$9.1
39.0
$(29.9)
(0.1)
1.1
$(28.8)
$(28.8)
18View entire presentation