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Bakkt Lowers FY24 Crypto Revenue Guidance From $3.00B-4.45B To $2.57B-2.83B, Expects Net Loyalty Revenues Of $53M–$57M

Author: Benzinga Newsdesk | August 14, 2024 07:31am

Updated 2024 Guidance:2

Full year 2024 revenues expected to be $2,568 million – $2,827 million; includes gross crypto revenues of $2,515 million - $2,770 million and net loyalty revenues of $53 million – $57 million.
Full year 2024 crypto costs expected to be $2,505 million – $2,755 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 $157 million – $162 million.
Full year 2024 net cash used in operating activities expected to be ($72 million) – ($79 million).
Full year 2024 free cash flow usage (non-GAAP) expected to be ($79 million) – ($86 million).
End of year available cash, cash equivalents and available-for-sale securities of $35 million – $42 million.

Posted In: BKKT