Bakkt sees FY24 revenue from loyalty $49M-$50M

The company states: “Full year 2024 revenue from loyalty expected to be approximately $49 million – $50 million, lower than prior guidance primarily due to lower transaction revenue. Full year 2024 gross crypto revenue, less crypto costs and execution, clearing and brokerage costs, expected to be at the lower end of $10 million – $15 million range primarily due to timing of activations. Full year 2024 cash used in operating activities expected to be ($84 million) – ($89 million) and free cash flow usage (non-GAAP) expected to be ($91 million) – ($96 million) due to reduction in revenue and higher expenses.”