Bakkt Results Presentation Deck slide image

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) 18
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