{
  "docId": "019de518-384d-762c-8987-b2cf4749ac45",
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  "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": 19,
  "pageCount": 28,
  "prevPage": 18,
  "nextPage": 20,
  "slideType": "kpi_overview",
  "function": "quantify_opportunity",
  "density": "dense",
  "nDataPoints": 20,
  "notes": null,
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  "slideHref": "/slides/019de518-384d-762c-8987-b2cf4749ac45/19",
  "deckHref": "/decks/019de518-384d-762c-8987-b2cf4749ac45",
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  "deckAnchorHref": "/decks/019de518-384d-762c-8987-b2cf4749ac45#slide-19",
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      "text": "Key Assumptions\nGross Crypto Revenue, Crypto Costs and ECB\nRange is based on a range of retail trading engagement\nmetrics\nExpect 2x - 3x growth in crypto trading accounts with\nsignificant contribution from new clients\nActivation of crypto coin pairs in second half 2024 to\nsupport international retail trading demand\nAddition of institutional clients with steady ramp-up in\nassets under custody in 2H'24\nCrypto costs and ECB in line with gross crypto revenue\nOperating expenses¹\nIntegration of regulated entities beginning March 2024\nNo acquisition/inorganic transaction expenses\nAssume no further impairments and non-cash\ncompensation consistent with 2023 levels. Expect\n$13mm-$16mm of non-cash comp and $0.5mm-$1.5mm\nof depreciation and amortization.",
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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.\nNote: All financial data on this slide is unaudited. Free cash flow is a non-GAAP financial measure. For more information, please refer to the Notes section in this presentation.",
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      "kind": "table",
      "text": "FINANCIAL METRIC\nOUTLOOK\nRevenues\nTotal revenues of $3,292mm - $5,114mm\nGross crypto revenues of $3,239mm -\n$5,057mm\nNet loyalty revenues of $53mm - $57mm\nCrypto costs and ECB\n$3,220mm - $5,027mm\nTotal operating expenses¹\n$160mm - $170mm\nOperating cash flow usage\n($58mm - $72mm)\nFree Cash Flow (non-GAAP)\nusage\n($65mm $79mm)\nEnd of year available cash,\ncash equivalents and\navailable-for-sale securities\n$35mm $50mm",
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      "componentId": "a18eb5e2-6fe4-4ac8-9d46-75563a00f630",
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      },
      "kind": "title",
      "text": "Updating our expected full year 2024 outlook",
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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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  "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,
      "description": "Create temporal urgency by proving that the window of opportunity is opening or closing"
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