Bakkt Holdings Inc
For the period ended Jun 30, 2024. Filed Aug 14, 2024.
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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.
Jun 30, 2024 · Filed Aug 14, 2024
BKKT$4.65+8.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
(in thousands)
| Six Months EndedJune 30, 2024 | Six Months EndedJune 30, 2023 | |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | $(56,787) | $(95,366) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 174 | 6,884 |
| Non-cash lease expense | 989 | 1,548 |
| Share-based compensation expense | 10,419 | 11,327 |
| Unit-based compensation expense | — | 946 |
| Impairment of long-lived assets | 288 | — |
| Loss on disposal of assets | — | 14 |
| Loss from change in fair value of warrant liability | 6,068 | 643 |
| Other | 2 | 14 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 6,035 | 4,291 |
| Prepaid insurance | 7,105 | 6,871 |
| Accounts payable and accrued liabilities | (16,196) | (11,144) |
| Unsettled crypto trades | 457 | — |
| Due to related party | (570) | (158) |
| Deferred revenue | (2,410) | (820) |
| Operating lease liabilities | (1,934) | (1,329) |
| Customer funds payable | 20,405 | (56) |
| Other assets and liabilities | (1,585) | (2,151) |
| Net cash used in operating activities | (27,540) | (78,486) |
| Cash flows from investing activities: | ||
| Capitalized internal-use software development costs and other capital expenditures | (2,234) | (6,046) |
| Purchase of available-for-sale securities | (17,996) | (26,999) |
| Proceeds from the settlement of available-for-sale securities | 22,223 | 153,158 |
| Acquisition of Bumped Financial, LLC | — | (631) |
| Acquisition of Apex Crypto LLC, net of cash acquired | — | (44,366) |
| Net cash provided by investing activities | 1,993 | 75,116 |
| Cash flows from financing activities: | ||
| Proceeds from Concurrent Offerings, net of issuance costs | 46,505 | — |
| Proceeds from the exercise of warrants | 3 | — |
| Repurchase and retirement of Class A Common Stock | (2,318) | (2,502) |
| Net cash provided by (used in) financing activities | 44,190 | (2,502) |
| Effect of exchange rate changes | (620) | 361 |
| Net increase (decrease) in cash, cash equivalents, restricted cash, customer funds and deposits | 18,023 | (5,511) |
| Cash, cash equivalents, restricted cash, customer funds and deposits at the beginning of the period | 118,498 | 115,423 |
| Cash, cash equivalents, restricted cash, customer funds and deposits at the end of the period | $136,521 | $109,912 |
| Supplemental disclosure of cash flow information: | ||
| Non-cash operating lease right-of-use asset acquired | $— | $3,780 |
| 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 | 378 | 622 |
| Reconciliation of cash, cash equivalents, restricted cash, customer funds and deposits to consolidated balance sheets: | ||
| Cash and cash equivalents | $47,499 | $84,519 |
| Restricted cash | 34,031 | 24,858 |
| Customer funds | 53,330 | 535 |
| Deposits (Note 6) | 1,661 | — |
| Total cash, cash equivalents, restricted cash, customer funds and deposits | $136,521 | $109,912 |
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