Companies /Technology

Alkami Technology Inc

NASDAQ: ALKT Software - Application
$20.35
â–² $0.00 (+0.00%) today
Markets closed · 11:18pm ET

Q1 2025 Earnings

Reported Apr 30, 2025, 4:11pm ET · SEC source
$-0.08
Miss −192.06%
EPS · est. $0.09
$97.8M
Beat +3.66%
Revenue · est. $94.4M
+4.3%
Beating market
ALKT vs S&P since report
4 quarters
Consecutive EPS misses

Market Reaction

% change · around the report
−4%−2%0+2%Apr 30May 1report 4:11pm ETearnings+0.7%−2.4%
−4%−2%0+2%Apr 30May 1earnings+0.7%−2.4%
ALKT −2.4%S&P 500 +0.7%
−4%−2%0+2%Apr 30May 1report 4:11pm ETearnings+1.2%−2.4%
−4%−2%0+2%Apr 30May 1earnings+1.2%−2.4%
ALKT −2.4%NASDAQ +1.2%
−5%0+5%+10%Apr 29May 8report 4:11pm ETearnings+1.9%+10.1%
−5%0+5%+10%Apr 29May 8earnings+1.9%+10.1%
ALKT +10.1%S&P 500 +1.9%
−5%0+5%+10%Apr 29May 8report 4:11pm ETearnings+2.7%+10.1%
−5%0+5%+10%Apr 29May 8earnings+2.7%+10.1%
ALKT +10.1%NASDAQ +2.7%
−2.32%
Day of report
+3.53%
Next session
+12.93%
One week
+11.01%
30 days

S&P 500 over the same 30 days: +6.74%.

Did ALKT Beat Earnings? Q1 2025 Results

Alkami Technology posted a mixed first quarter for 2025, delivering a revenue beat but a notable earnings miss as acquisition activity reshaped the company's financial profile. Revenue climbed 28.5% year-over-year to $97.83 million, topping the $94.38 million consensus estimate by 3.66%, while the company reported a loss per share of $0.08, falling well short of the $0.09 consensus by 192.06%. The gap was largely driven by $2.38 million in acquisition-related expenses tied to the closing of the MANTL deal on March 17, 2025, which added omnichannel account-opening capabilities to Alkami's digital banking platform and contributed $1.40 million in first-quarter revenue. Annual recurring revenue grew 33% year-over-year to $403.88 million, underscoring durable demand from the company's 278 platform clients. Looking ahead, management guided full-year 2025 revenue of $443.00 million to $447.00 million and Adjusted EBITDA of $49.50 million to $52.50 million, with MANTL expected to become Adjusted EBITDA accretive in 2026.

Key Takeaways
  • 28.5% revenue growth driven by new clients, existing client user growth, and ARPU growth
  • ARR grew 33% to $404 million
  • Registered users grew 13% to 20.5 million
  • RPU increased 18% to $19.74
  • Non-GAAP gross margin expanded to 64.3% from 61.7%
  • Adjusted EBITDA more than tripled to $12.1 million from $3.8 million
  • Net dollar retention of 113%
  • LTM churn less than 1%
  • 95% subscription revenue mix
  • Remaining performance obligation of $1.6 billion, up 31% year-over-year

“In the first quarter, we delivered another outstanding quarter of strong revenue growth and profitability, with revenue growth of 28.5% and Adjusted EBITDA of $12.1 million. We exited Q1 with 20.5 million users on the Alkami platform, up 2.3 million compared to the year-ago quarter, and we continued to lead the industry in market share gains.”

Alkami Technology CEO, on the earnings call

Forward Guidance & Outlook

For Q2 2025, Alkami guides GAAP total revenue of $109.0 million to $110.5 million and Adjusted EBITDA of $9.0 million to $10.0 million. For full-year 2025, the company expects GAAP total revenue of $443.0 million to $447.0 million and Adjusted EBITDA of $49.5 million to $52.5 million. Full-year guidance includes approximately $31.4 million of MANTL revenue and a $5.0 million MANTL Adjusted EBITDA loss; management expects MANTL to be accretive to Adjusted EBITDA in 2026. MANTL's ARR under contract at year-end 2025 is expected to be approximately $60 million, representing over 30% growth. Guidance also includes the impact of Alkami's India expansion. The company targets gross margin improvement of 200-300 basis points per year through 2026 and a long-term Adjusted EBITDA margin target of 20% by 2026.

ALKT YoY Financials

Q1 2025 vs Q1 2024 · SEC filings Q1 2024 Q1 2025
$0$40.0M$80.0M$76.1M$97.8MRevenue$44.0M$57.8MGross Profit$-20,394,754$-15,396,000Operating Income$-5,937,405$-7,816,000Net Income
$0$40.0M$80.0MRevenueGross ProfitOperating IncomeNet Income

Figures from SEC filings and company reports. Not investment advice.