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Bakkt Updates FY24 Outlook, Says Revenues Expected To Grow To $3,292M-$5,114M; Operating Cash Flow Usage For FY24 Expected To Decline ~70% YoY To $58M-$72M

Author: Benzinga Newsdesk | March 25, 2024 04:27pm

Full Year 2024 Outlook

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.

Posted In: BKKT