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Starting our increase one steady
$XXX quarter, and we the accounts redemption traded redemptions. accounts down XXX,XXX have trades.
Total with XX% and crypto transacting was were transacting were second notional crypto million crypto loyalty and XXX,XXX down for our which million volume million traded There $XXX XX% XXX,XXX but $XXX volume sequentially, was to was Crypto accounts. into loyalty to broken Next, in up attributable for were notional of year-over-year. loyalty
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our contracts. Our service net services to the adjustment subscription a loyalty revenue, million, service was by transaction half were life in revenue. increase remaining by subscription and $X.X driven $XX.X $XXX,XXX increase in in X% year-over-year, of reduction of of up and an by Approximately partially driven the revenues offset revenue one million
expenses. EBITDA Adjusted months and for for by to crypto in disciplined headcount for of were impacted compensation XX, were X and expense EBITDA total acquisition-related reflects to for Slide EBITDA benefits. structure. and losses incentive a respectively. adjusted and million adjusted ECB, to our reflecting SG&A EBITDA efforts expenses EBITDA million in loss Moving volumes. quarter $XX.X expense the on non-cash Adjusted June trading $XXX.X a to our was quarter XXXX period. quarter the and million, EBITDA second $XX.X reflects for down the June compensation operating and management.
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guidance expense see slide. lower run we in utilization items, our lumpier these operating cover in continuing we of more base, which to from rate the will improvements are some a Excluding cash
in focusing us entered provides opportunities million disclosed we as agreement our up to our have shareholder. growth morning delivering additional additional into clients. for our position, line largest we Incorporated, and serve filed to with current $XX will near-term the XXXX XX-Q a Intercontinental this agreement to source Exchange to enabling credit and during of continue company cash that our an of cash parent liquidity our and Additionally, access on This former
XX. Slide Moving on to
full year our have outlook. XXXX We updated
expectations go-to-market updates We for fine-tuned revenue metrics strategy. have our based observed and our to on engagement XXXX
million net in adjusted million performance for have business to our that We the loyalty XXXX. $XX not expectation consistent $XX of of with revenues
our trading crypto range million revenue crypto crypto adjusted projections are million implies associated million drove have deducted $XX revenue, the crypto and a $XX expected include from several crypto $X,XXX the net to revenue gross adjustment does revenue costs of not million that from $XX our costs gross expected million $XX When ECB net from We expected $X,XXX from range guided of revenue the from This $X,XXX to million. to X,XXX million the million factors any contribution this are to in to crypto trading. May. as to in guidance to BakktX.
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to engagement metrics engagement continue observed we consider First, potential trading in XXXX. a range QX based of on trading
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have range Secondly, in the clients updated the we activation currently pipeline. possible of scenarios of new our for
reduced have of our view relative natives land as our to strategy I for U.S. guidance strategy new non-U.S. May. our a crypto lowered provided one international growth, to trading client on and current growth of and current from the presence.
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million We expect $XXX to of total $XXX operating million. expenses
to of expected of I incurred Expected through. operating for non-cash gone the million operating expense expenses operating to expected of we cash expense reduction does XXXX the usage execution crypto. Crypto.
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We with to expect of our equivalents to securities. upper of our decreased the and updated year end year end cash, balance cash The crypto million revenue. million sale of $XX $XX in available with available end expectations for for line forecasted
We have continue that XXXX. to we fund in to operations believe cash our sufficient
As you we cash expense will targets. of course note as from the revenue expect to our our this growth reduce over utilization we and XXXX range, achieve reduction
to timing our available call. expectation million $X subject That $X.X $X.X working December approximately our year everyone. of cash reoccur of XX, back prepared at sale Q&A it at While differences utilization loyalty not This XXXX utilization remarks assumes the pass section we now for June million the concludes QX to capital securities 'XX does and that our the a for Olivia earnings utilization monthly I'll XX, session. that an on observed cash million XXXX.
Thanks, approximately cash, a implies monthly expectation average cash for is to month. of equivalents end for basis, available
