{
  "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",
  "aspectRatio": 1.7777778,
  "pageNumber": 18,
  "pageCount": 28,
  "prevPage": 17,
  "nextPage": 19,
  "slideType": "propose_solution",
  "function": "propose_solution",
  "density": "dense",
  "nDataPoints": 10,
  "notes": null,
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  "metadataConfidence": 0.9,
  "imagePath": null,
  "slideHref": "/slides/019de518-384d-762c-8987-b2cf4749ac45/18",
  "deckHref": "/decks/019de518-384d-762c-8987-b2cf4749ac45",
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  "deckAnchorHref": "/decks/019de518-384d-762c-8987-b2cf4749ac45#slide-18",
  "components": [
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      "kind": "chart",
      "text": "OPERATING EXPENSES¹ ($mm)\n$240.\n↓19%\n$195\n↓~13-18%\n$160-$170\n2022\n2023\n2024E target 2",
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      "kind": "list",
      "text": "Available cash, cash equivalents and AFS securities as of 2/29/24 (pre-capital raise) of $38.1mm\nCash usage in January and February was unusually high due to timing of annual payments and a $4.9mm increase in surety bond collateral\nReceived ~$38mm in cash related to net proceeds from preliminary close of Third Party Offering\nExpect $68mm - $72mm of available cash, cash equivalents and AFS securities at 3/31/24\nOur current cash, cash equivalents and AFS securities are expected to provide sufficient capital to fund operations for at least the next 12 months\nContinued discipline and focus on prudent expense management\n2H23 operating expenses¹ down 42% from 1H23\n2024 operating expenses 1,2 expected to decline ~13-18% from 2023\nFocus on controllable profitability levers including increasing recurring revenue streams",
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      "kind": "source-note",
      "text": "1 Operating expenses excluding crypto costs, execution, clearing and brokerage fees and goodwill, intangible and long-lived assets impairments.\n1,2 Expected 2024 operating expenses as depicted on this slide is based on midpoint of expected range for 2024 outlook. For more information on outlook, please refer to slide 19.",
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  "metrics": [],
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  "arcBeats": [
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      "to": 20,
      "from": 7,
      "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,
      "confidence": 0.8,
      "parentBeatName": "Turn",
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  "loops": [
    {
      "to": 20,
      "from": 7,
      "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",
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      "description": "Create temporal urgency by proving that the window of opportunity is opening or closing"
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