{
  "docId": "019de518-384d-762c-8987-b2cf4749ac45",
  "docSlug": "8b4286c8f9802c758657dee87d10e455",
  "documentTitle": "Bakkt | Results Presentation Deck | 28 slides",
  "authorId": "bakkt",
  "authorName": "Bakkt",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2024-03-01 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 11,
  "pageCount": 28,
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  "slideHref": "/slides/019de518-384d-762c-8987-b2cf4749ac45/11",
  "deckHref": "/decks/019de518-384d-762c-8987-b2cf4749ac45",
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      "text": "Total revenues of $780.1mm reflects significant increase YoY in gross crypto trading revenue driven by our acquisition of Bakkt Crypto\nTotal operating expenses of $1,008.0mm reflects significant increase in crypto trading expenses driven by our acquisition of Bakkt Crypto\nOperating expenses (excluding crypto costs, execution, clearing and brokerage fees and goodwill, intangible and long-lived assets impairments) of $195.0mm decreased by 19% YoY, primarily due to lower compensation and benefits costs",
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      "kind": "paragraph",
      "text": "2023 results include Bakkt Crypto, which we acquired on April 1, 2023. In accordance with GAAP, we are presenting crypto services revenue and crypto costs and execution, clearing and brokerage fees on a gross basis",
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      "kind": "table",
      "text": "$mm's\nCrypto services\nLoyalty services, net\nTotal revenues\nCrypto costs and execution, clearing and brokerage fees\nGoodwill, intangible and long-lived assets impairments\nOperating expenses, excluding crypto costs, execution, clearing and brokerage fees and goodwill, intangible and long-lived assets impairments\nTotal operating expenses\nOperating loss\nInterest income, net\n(Loss) gain from change in FV of warrant liability\nOther 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\nFY23\n727.0\n53.1\n780.1\n722.3\n90.8\n195.0\n1,008.0\n(227.9)\n4.3\n(1.6)\n(0.2)\n(225.4)\n(0.4)\n(225.8)\n(151.0)\n(74.9)\n89.1\n89.1\n(0.84)\n(0.84)\nFY22\n1.7\n54.5\n56.2\n1.7\n1,833.6\n239.9\n2,075.1\n(2,018.9)\n1.9\n16.6\n(0.9)\n(2,001.3)\n11.3\n(1,989.9)\n(1,411.8)\n(578.1)\n71.2\n71.2\n(8.12)\n(8.12)",
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      "kind": "title",
      "text": "Summary of full year 2023 condensed results",
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      "evidence": "table/data: $mm's Crypto services Loyalty services, net Total revenues Crypto costs and execution, clearing and brokerage fees Goodwill, intangible and long-lived assets impairments Operating expenses, excluding crypto c",
      "confidence": 0.9
    }
  ],
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      "arcName": "Monroe's Motivated Sequence",
      "arcSlug": "monroes-sequence",
      "beatName": "Satisfaction",
      "beatSlug": "monroes-sequence-satisfaction",
      "evidence": "Bakkt presents its solutions, including expanding retail and institutional crypto capabilities, and provides an updated outlook for 2024, satisfying the audience's need for growth and profitability.",
      "position": 2,
      "confidence": 0.8,
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  "loops": [
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      "name": "Why Now",
      "slug": "15-why-now",
      "bestFor": "Sales pitches, fundraising, requesting immediate budget approval",
      "matchId": "64cb8848-18c1-4a92-b5fb-cef0ba3d2abe",
      "evidence": "Bakkt presents its solutions and updated outlook, indicating that current market conditions and its platform make it an optimal time for growth and profitability.",
      "position": 1,
      "objective": "Why is now the right time to execute on key priorities?",
      "structure": "The Context (Trends) -> The Trigger Event -> The Window of Opportunity",
      "confidence": 0.6,
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