{
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  "documentTitle": "Bakkt | Results Presentation Deck | 28 slides",
  "authorId": "bakkt",
  "authorName": "Bakkt",
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  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2024-03-01 00:00:00",
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  "pageNumber": 14,
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  "slideHref": "/slides/019de518-384d-762c-8987-b2cf4749ac45/14",
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  "deckAnchorHref": "/decks/019de518-384d-762c-8987-b2cf4749ac45#slide-14",
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      "kind": "chart",
      "text": "EXPENSES ($MM)\n$347.9\n$274.4\n$32.9\n$8.4\n$31.9\n4Q22\n$58.7\n$17.5\n$6.7\n$34.1\n1Q23\n$398.7\n$30.1\n$334.0\n$7.6\n$27.1\n2Q23\n$257.6\n$23.3\n$12.1\n$190.1\n$7.4\n$24.6\n3Q23\n$293.0\n$37.2\n$30.2\n$197.8\n$11.7\n$16.2\n4Q23",
      "attrs": {
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          "4Q22",
          "1Q23",
          "2Q23",
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      "kind": "legend",
      "text": "Compensation\nSG&A\nCrypto costs and execution, clearing and brokerage fees\nOther 1\nGoodwill & intangible assets impairments",
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      "kind": "list",
      "text": "Total operating expenses of $293.0mm includes $197.8mm of crypto costs and execution, clearing and brokerage fees, related to Bakkt Crypto acquisition\nIncludes non-cash intangible assets impairments of $37.2mm and non-cash long-lived assets impairments of $30.2mm\nSG&A expenses of $11.7mm increased 39% YoY primarily driven by a $3.6mm payment related to a strategic marketing agreement\nCompensation and benefits expenses of $16.2mm were down 49% YoY, primarily due to lower salaries, wages, incentive bonuses and benefits and contract labor\nOther¹ expenses of $30.2mm includes non-cash long-lived assets impairments",
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      "kind": "paragraph",
      "text": "4Q23 results include Bakkt Crypto, which we acquired on April 1, 2023. In accordance with GAAP, we are presenting our crypto costs and execution, clearing and brokerage fees on a gross basis",
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      "kind": "source-note",
      "text": "Note: All financial data on this slide is unaudited. Bar chart not fit to scale.\n1 Other comprised of Professional services, Technology & communication, Acquisition-related expenses, Depreciation & amortization, Related party expenses, Restructuring expenses, Impairments of long-lived assets, and Other operating expenses.",
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      "kind": "title",
      "text": "4Q23 Operating expenses",
      "attrs": {},
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      "beatId": "3771f809-2244-48a0-af1a-fc3c1a297ec6",
      "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,
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      "name": "Why Now",
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      "bestFor": "Sales pitches, fundraising, requesting immediate budget approval",
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      "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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