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  "documentTitle": "Bakkt | Results Presentation Deck | 29 slides",
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  "authorName": "Bakkt",
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  "presentationDate": "2023-11-01 00:00:00",
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      "text": "Total revenues of $204.8mm reflects significant increase year over year in gross crypto trading revenue driven by our acquisition of Apex Crypto\nTotal operating expenses of $257.6mm reflects significant increase in crypto trading expenses driven by our acquisition of Apex Crypto\nIn accordance with GAAP, we took a non-cash intangible assets impairment of $23.3 mm. The charge does not have an impact on future operations.\nOperating expenses (excluding crypto costs and execution, clearing and brokerage fees and goodwill and intangible assets impairments) of $44.2mm decreased by 26% YoY, primarily due to lower compensation and benefits costs\nTotal shares outstanding of 274.7mm¹\nClass A 91.4mm shares\nClass V 183.2mm shares",
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      "text": "3Q23 results include Apex Crypto, which we acquired on April 1, 2023. In accordance with GAAP, we are presenting crypto services revenue and crypto costs and execution, clearing and brokerage fees on a gross basis",
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      "text": "Note: All financial data on this slide is unaudited.\n1 As of September 30, 2023. Intercontinental Exchange, Inc. (\"ICE\") owns an aggregate of 64% of shares, consisting of both Class A and Class V.",
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      "text": "$mm's\nCrypto services\nLoyalty services\nTotal revenues\nCrypto costs and execution, clearing and brokerage fees\nGoodwill and intangible assets impairments\nOperating expenses, excluding crypto costs and execution, clearing and brokerage fees and goodwill and intangible assets impairments\nTotal operating expenses\nOperating loss\nInterest income, net\n(Loss) gain from change in FV of warrant liability\nOther income (expense), net\nLoss before income taxes\nIncome tax (expense) benefit\nNet loss\nLess: Net loss for noncontrolling interest\nNet loss attributable to Bakkt Holdings, Inc.\nWeighted average basic shares (mm)\nWeighted average diluted shares (mm)\nNet loss per basic share\nNet loss per diluted share\n3Q23\n$191.8\n13.0\n$204.8\n190.1\n23.3\n44.2\n$257.6\n$(52.9)\n1.2\n(0.2)\n0.4\n$(51.5)\n(0.2)\n$(51.7)\n(34.4)\n$(17.3)\n91.4\n91.4\n$(0.19)\n$(0.19)\n2Q23\n$335.3\n12.3\n$347.6\n334.0\n—\n64.7\n$398.7\n$(51.1)\n0.7\n0.4\n(0.3)\n$(50.4)\n(0.2)\n$(50.5)\n(33.7)\n$(16.8)\n89.8\n89.8\n$(0.19)\n$(0.19)\n3Q22\n$0.5\n12.7\n$13.2\n0.4\n1,547.7\n60.1\n$1,608.1\n$(1,594.9)\n0.6\n0.4\n0.7\n$(1,593.2)\n0.6\n$(1,592.5)\n(1,124.4)\n$(468.1)\n76.6\n76.6\n$(6.11)\n$(6.11)",
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      "text": "Summary of 3Q23 condensed results",
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