On February 29, 2024, Bakkt Holdings, Inc., a company specializing in crypto economy solutions, announced preliminary financial results for the fourth quarter and full year ended December 31, 2023. The report, filed with the SEC, estimates fourth-quarter revenues between $213 million to $215 million, with gross crypto revenues ranging from $197 million to $199 million. Net loyalty revenues are expected to be between $13 million to $15 million, while total crypto costs and fees are estimated at $196 million to $198 million. The company also reported an estimated year-end cash position of $68 million to $70 million and a free cash flow usage between $18 million to $20 million for the quarter. For the full year, Bakkt anticipates total revenues of $778 million to $780 million, gross crypto revenues of $725 million to $727 million, and net loyalty...Show More

On February 29, 2024, Bakkt Holdings, Inc., a company specializing in crypto economy solutions, announced preliminary financial results for the fourth quarter and full year ended December 31, 2023. The report, filed with the SEC, estimates fourth-quarter revenues between $213 million to $215 million, with gross crypto revenues ranging from $197 million to $199 million. Net loyalty revenues are expected to be between $13 million to $15 million, while total crypto costs and fees are estimated at $196 million to $198 million. The company also reported an estimated year-end cash position of $68 million to $70 million and a free cash flow usage between $18 million to $20 million for the quarter. For the full year, Bakkt anticipates total revenues of $778 million to $780 million, gross crypto revenues of $725 million to $727 million, and net loyalty revenues of $51 million to $53 million, all within the previously provided guidance. Operating cash usage is estimated at $87 million to $89 million, with free cash flow usage projected at $100 million to $102 million for the year. These preliminary results have not been audited and are subject to revision upon the completion of Bakkt's Annual Report on Form 10-K. The company plans to discuss the finalized 2023 financial results in a conference call scheduled for March.