Bakkt Holdings Inc
For the period ended Mar 31, 2024. Filed May 15, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 15, 2024
BKKT$4.17-10.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
(in thousands)
| Three Months EndedMarch 31, 2024 | Three Months EndedMarch 31, 2023 | |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | $(21,275) | $(44,859) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 57 | 3,063 |
| Non-cash lease expense | 622 | 789 |
| Share-based compensation expense | 8,013 | 7,241 |
| Unit-based compensation expense | — | 680 |
| Impairment of long-lived assets | 288 | — |
| Loss on disposal of assets | — | 14 |
| (Gain) loss from change in fair value of warrant liability | (9,046) | 1,000 |
| Other | — | 243 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (6,288) | (88) |
| Prepaid insurance | 3,876 | 4,332 |
| Accounts payable and accrued liabilities | 7,312 | (15,991) |
| Unsettled crypto trades | 3,553 | — |
| Due to related party | (720) | (659) |
| Deferred revenue | (1,327) | (542) |
| Operating lease liabilities | (957) | (592) |
| Customer funds payable | 55,240 | (36) |
| Other assets and liabilities | (995) | (1,836) |
| Net cash provided by (used in) operating activities | 38,353 | (47,241) |
| Cash flows from investing activities: | ||
| Capitalized internal-use software development costs and other capital expenditures | (1,771) | (3,719) |
| Purchase of available-for-sale securities | (17,996) | (26,999) |
| Proceeds from the settlement of available-for-sale securities | 17,463 | 101,048 |
| Acquisition of Bumped Financial, LLC | — | (631) |
| Net cash (used in) provided by investing activities | (2,304) | 69,699 |
| Cash flows from financing activities: | ||
| Proceeds from Concurrent Offerings, net of issuance costs | 38,964 | — |
| Repurchase and retirement of Class A Common Stock for withholding purposes | (2,259) | — |
| Net cash provided by financing activities | 36,705 | — |
| Effect of exchange rate changes | (421) | 22 |
| Net increase in cash, cash equivalents, restricted cash, cash held in escrow, customer funds and deposits | 72,333 | 22,480 |
| Cash, cash equivalents, restricted cash, cash held in escrow, customer funds and deposits at the beginning of the period | 118,498 | 115,423 |
| Cash, cash equivalents, restricted cash, cash held in escrow, customer funds and deposits at the end of the period | $190,831 | $137,903 |
| Supplemental disclosure of cash flow information: | ||
| Non-cash operating lease right-of-use asset acquired | $— | $3,776 |
| Supplemental disclosure of non-cash investing and financing activity: | ||
| Capitalized internal-use software development costs and other capital expenditures included in accounts payable and accrued liabilities | 455 | 1,597 |
| Reconciliation of cash, cash equivalents, restricted cash, cash held in escrow, customer funds and deposits to consolidated balance sheet: | ||
| Cash and cash equivalents | $56,600 | $50,834 |
| Restricted cash | 44,008 | 19,305 |
| Cash held in escrow | — | 67,209 |
| Customer funds | 88,165 | 555 |
| Deposits (See Note 6) | 2,058 | — |
| Total cash, cash equivalents, restricted cash, cash held in escrow, customer funds and deposits | $190,831 | $137,903 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.