Bakkt’s revenue in the fourth quarter was US $15.6 million, up 14% year-on-year

It is reported that Bakkt released a fourth quarter report that its revenue and expenditure increased in the fourth quarter, driven by another large impairment charge. Revenue was US $15.6 million, lower than the US $16 million estimated by FactSet, but still up 14% year-on-year. Adjusted earnings before interest, tax, depreciation and amortization were lower than expected, at US $30.5 million, 30.3% higher than last year. The estimated figure is – 28 million US dollars. Operating expenses increased from $86 million to $341 million, an increase of nearly 300% over the fourth quarter of 2022. The expense was driven by non-cash goodwill and intangible asset impairment expenditure of approximately US $272 million.

Bakkts revenue in the fourth quarter was US $15.6 million, up 14% year-on-year

Interpretation of this information:

Bakkt, a digital asset platform, reported an increase in revenue and expenditure in the fourth quarter of 2022. Despite falling short of FactSet’s estimated revenue of US $16 million, Bakkt experienced a 14% increase year-on-year, bringing in US $15.6 million. Adjusted earnings before interest, tax, depreciation, and amortization were higher than expected, reaching US $30.5 million, increasing by 30.3% compared to the previous year. Operating expenses, however, increased from US $86 million to US $341 million, mainly due to non-cash goodwill and intangible asset impairment expenses of approximately US $272 million.

The revenue and expenditure report shows Bakkt’s continued incremental growth in the digital asset market, although, with the high operating expenses, the company still incurred a net loss from its operations. These expenses are a result of investment in the platform and impairment charges, suggesting that the company is still in the early stages of development. Bakkt remains optimistic about its growth potential, despite the ongoing coronavirus pandemic that has impacted the economy.

In summary, the keywords that capture the main points in the message are: revenue, expenditure, and impairment charges. Bakkt’s report on the fourth quarter shows a steady increase in revenue and adjusted earnings, although it incurred high operating expenses through non-cash goodwill and intangible asset impairment expenses. Despite Bakkt’s current net loss, the company remains confident in its growth potential in the digital asset market.

This article and pictures are from the Internet and do not represent 96Coin's position. If you infringe, please contact us to delete:https://www.96coin.com/39767.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.