NASDAQ$BKKT
Bakkt Inc · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Bakkt's Q4 2021 financial results were announced, revealing a combined net revenue increase of 45% year-over-year, driven by strong transaction revenue growth from loyalty redemption.
Bakkt reported a 45% increase in combined net revenue (non-GAAP) compared to the prior year quarter, reaching $13.7 million, primarily driven by strong transaction revenue growth from loyalty redemption. The company's available cash exceeds $390 million, providing significant growth capital.
- Combined net revenue (non-GAAP) increased 45% over prior year quarter.
- Transacting accounts increased 13% year-over-year, reaching 867,000.
- Digital asset conversion volume increased 34% year-over-year, totaling $222 million.
- Over $390 million of available cash provides significant growth capital.
Headline financials
Revenue & EPS history
Bakkt · Revenue · Quarterly
$11.5M
Revenue by segment
Bakkt · $335M total across 1 segment · Q2 2023
- Crypto Services$335M—100.0%
Forward guidance
Bakkt expects net revenue to grow to $60 million - $80 million in 2022, representing an increase of approximately 50% to 100% compared to 2021. The company anticipates using $150 million - $170 million of cash during 2022 for investments in future growth and expects to recognize quarterly net losses as it ramps up the business.
Tailwinds
- Net revenue expected to grow to $60 million - $80 million in 2022.
- Revenue growth represents an increase of approximately 50% to 100% compared to 2021.
- Strong available liquidity with more than $390 million of available cash on hand as of 12/31/21.
- Partnerships across crypto services, loyalty and payments were signed.
- Point conversion capabilities for Wyndham Rewards customers were activated.
Headwinds
- Expect to use $150 million - $170 million of cash during 2022.
- Expect to recognize quarterly net losses during 2022.
- Financial results include significant non-cash charges related to the closing of business combination with VPC Impact Acquisition Holdings (VIH).
- Operating loss for Q4 2021 was $125 million.
- Net loss for Q4 2021 was $202.8 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q4 2021
+4.3%
Avg return
Earnings day
+14.5%
Avg return
5 days after
+21.3%
Avg return
30 days after
47%
9 / 19 earnings
Positive
+62.5%
Q3 2023
Best reaction
-33.7%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +0.6% | -16.0% | -14.8% | |
| Q3 2025 | -13.0% | -23.3% | -45.7% | |
| Q1 2025 | +48.0% | +27.8% | +29.8% | |
| Q4 2024 | +13.0% | +30.4% | -8.6% | |
| Q3 2024 | -1.8% | +155.9% | +150.0% | |
| Q2 2024 | -10.8% | -9.8% | -27.1% | |
| Q1 2024 | -5.9% | +49.3% | +67.4% | |
| Q4 2023 | -16.3% | -14.5% | -33.1% | |
| Q3 2023 | +62.5% | +76.4% | +143.1% | |
| Q2 2023 | +0.7% | -4.3% | -9.2% | |
| Q1 2023 | -12.4% | -5.8% | +1.5% | |
| Q4 2022 | -13.5% | -3.2% | +25.4% | |
| Q3 2022 | +20.8% | +24.9% | -2.9% | |
| Q2 2022 | +11.1% | +2.2% | -6.3% | |
| Q1 2022 | +37.2% | +28.8% | +13.5% | |
| Q4 2021 | -33.7% | -31.8% | -25.3% | |
| Q3 2021 | -4.1% | -11.2% | +146.1% | |
| Q2 2021 | -0.4% | -0.7% | +3.3% | |
| Q1 2021 | +0.1% | +0.1% | -1.6% |
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