Bakkt Updates FY24 Outlook, Says Revenues Expected To Grow To $3,292M-$5,114M; Operating Cash Flow Usage For FY24 Expected To Decline ~70% YoY To $58M-$72M
Portfolio Pulse from Benzinga Newsdesk
Bakkt has updated its FY24 outlook, projecting revenues to range between $3,292M and $5,114M, with a significant portion coming from crypto. Operating cash flow usage is expected to decrease by approximately 70% YoY, landing between $58M and $72M. The company anticipates end-of-year cash and equivalents to be between $35M and $50M.
March 25, 2024 | 8:27 pm
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Bakkt projects significant revenue growth for FY24, with a major contribution from crypto revenues. Operating cash flow usage is expected to decrease substantially, indicating improved operational efficiency.
The substantial projected increase in revenues, especially from the crypto segment, and the significant reduction in operating cash flow usage, suggest a positive outlook for Bakkt's financial health and operational efficiency. This could lead to increased investor confidence and potentially drive up the stock price in the short term.
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IMPORTANCE 90
RELEVANCE 100