Bakkt sees FY24 revenue $3.29B-$5.11B

The company states: “Full year 2024 revenues expected to be $3,292 million – $5,114 million; includes gross crypto revenues of $3,239 million -$5,057 million and net loyalty revenues of $53 million – $57 million. Full year 2024 crypto costs expected to be $3,220 million – $5,027 million, in line with gross crypto revenues. Full year 2024 total operating expenses excluding crypto costs, execution, clearing and brokerage fees and goodwill, intangible and long-lived assets impairments expected to be $160 million – $170 million. Full year 2024 net cash used in operating activities expected to be ($58 million) – ($72 million). Full year 2024 free cash flow usage (non-GAAP) expected to be ($65 million) – ($79 million). End of year cash, cash equivalents and available-for-sale securities of $35 million – $50 million.”