Logo

ALKT

Alkami Technology, Inc.

ALKT

Alkami Technology, Inc. • NASDAQ
$21.32 ▲ 1.62% (+0.34)
Market Cap $2.24 B
52w High $40.99
52w Low $18.71
Dividend Yield 0%
P/E -50.76
Volume 606.59K
Outstanding Shares 104.98M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $112.954M ▲ $77.023M ▼ $-14.804M ▼ -13.106% ▼ $-0.14 ▼ $-3.986M ▲
Q2-2025 $112.059M ▲ $81.481M ▲ $-13.591M ▼ -12.128% ▼ $-0.13 ▼ $-6.999M ▲
Q1-2025 $97.835M ▲ $73.156M ▲ $-7.816M ▼ -7.989% ▲ $-0.076 ▼ $-15.396M ▼
Q4-2024 $89.656M ▲ $61.836M ▲ $-7.643M ▲ -8.525% ▲ $-0.076 ▲ $-4.902M ▲
Q3-2024 $85.906M $61.045M $-9.442M -10.991% $-0.095 $-6.581M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $90.912M ▲ $835.175M ▼ $485.059M ▼ $350.116M ▲
Q2-2025 $87.112M ▼ $840.389M ▲ $496.373M ▼ $344.016M ▲
Q1-2025 $95.297M ▼ $837.161M ▲ $503.117M ▲ $334.044M ▼
Q4-2024 $115.734M ▲ $437.277M ▲ $80.247M ▼ $357.03M ▲
Q3-2024 $100.989M $422.193M $83.689M $338.504M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-14.804M ▼ $30.807M ▲ $-1.104M ▲ $-24.813M ▼ $4.89M ▲ $30.533M ▲
Q2-2025 $-13.591M ▼ $1.157M ▲ $-2.947M ▲ $-7.444M ▼ $-9.234M ▲ $760K ▲
Q1-2025 $-7.816M ▼ $-5.664M ▼ $-389.413M ▼ $362.378M ▲ $-32.699M ▼ $-6.149M ▼
Q4-2024 $-7.643M ▲ $6.111M ▼ $-3.005M ▼ $10.297M ▲ $13.403M ▼ $4.301M ▼
Q3-2024 $-9.442M $10.987M $3.771M $4.766M $19.524M $8.688M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Implementation Services
Implementation Services
 $0 ▲$0 ▲$0 ▲$0 ▲
SaaS Subscription Services
SaaS Subscription Services
 $90.00M ▲$90.00M ▲$110.00M ▲$110.00M ▲
Service Other
Service Other
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Alkami shows a classic high‑growth software profile: strong, steady revenue growth over several years, with improving but still negative profitability. Sales have expanded meaningfully each year, and gross profit has risen along with it, suggesting the core product is scaling well. Operating and net losses remain, but they have gradually narrowed over time, indicating better cost discipline and operating leverage as the business grows. Overall, the income statement reflects a company still investing heavily for growth, not yet focused on bottom‑line profits but moving in the right direction.

Balance Sheet

Balance Sheet The balance sheet looks generally healthy for a young software company. Total assets and shareholders’ equity have grown over time, giving the company a solid capital base. Cash peaked after going public and then came down as funds were used to build the business, but it has improved again more recently, which helps support ongoing operations. Debt levels are low relative to the size of the business, so financial leverage risk appears modest. In short, Alkami has a reasonably strong financial cushion, though it still relies on maintaining that strength while it continues to operate at a loss.

Cash Flow

Cash Flow The most encouraging shift is in cash flow. The business moved from consistently burning cash in earlier years to generating positive operating and free cash flow in the most recent period. That suggests the recurring revenue model and cost structure are maturing, and the company is getting closer to being able to fund its own growth. Capital spending is light, which is typical for a cloud‑software platform and keeps cash needs lower. The key question going forward is whether positive cash generation is durable, especially if the company continues to invest in innovation and acquisitions.

Competitive Edge

Competitive Edge Alkami operates in a competitive fintech niche but has built several meaningful strengths. Its cloud‑native digital banking platform, deep integrations with major core processors, and focus on U.S. community and regional banks and credit unions create high switching costs and a “sticky” customer base. The growing data set and AI‑driven personalization tools add a data network effect that can strengthen its edge over time. However, the company still faces competition from large core providers and other digital banking platforms, as well as regulatory and reputational risk, particularly in light of the recent investigation and earnings shortfall. Execution on integrations and client satisfaction will be crucial to preserving its moat.

Innovation and R&D

Innovation and R&D Innovation is one of Alkami’s clearest strengths. The company has built a modern, cloud‑native, multi‑tenant platform and is leaning heavily into AI, data analytics, and personalization. Acquisitions like Segmint (for transaction data and insights) and MANTL (for digital account opening) show a strategy of building a unified, end‑to‑end digital banking experience. The vision of “Anticipatory Banking” – using AI to proactively anticipate user needs – positions Alkami at the higher‑end of fintech capabilities. The flip side is that this level of innovation requires ongoing R&D and integration spending, which can weigh on near‑term profitability and carries execution risk if product rollouts or integrations fall behind expectations.

Summary

Alkami is a fast‑growing digital banking software company transitioning from a “build and invest” phase toward a more balanced model with improving margins and early signs of sustainable cash generation. Its financials show strong revenue growth, moderating losses, a solid equity base, and improving cash flow, offset by the continued absence of consistent profits. Strategically, the company benefits from high switching costs, a focused customer niche, and an increasingly data‑rich, AI‑enabled platform that could deepen its competitive advantage over time. Key factors to monitor include the durability of recent cash flow improvements, progress toward profitability, the successful integration of acquisitions, competitive responses from larger players, and any developments related to the ongoing investigation and recent earnings miss, which add an extra layer of uncertainty to an otherwise promising growth story.

NEWS

November 24, 2025 · 9:41 AM UTC

Ryan Leak Announced as Keynote Speaker for Alkami Co:lab 2026

Read more

November 20, 2025 · 10:00 AM UTC

INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Alkami Technology, Inc. - ALKT

Read more

November 17, 2025 · 9:47 AM UTC

Financial Institution Leaders to Discuss Alkami's Digital Sales & Service Platform

Read more

November 12, 2025 · 10:00 AM UTC

MANTL Launches Application Comments to Accelerate Application Reviews and Strengthen Compliance

Read more

November 10, 2025 · 4:23 PM UTC

Levi & Korsinsky Launches Fraud Investigation on Behalf of Alkami Technology, Inc. (ALKT) Shareholders

Read more