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Alkami Technology

ALKT Q2 2025 Earnings

Reported Jul 30, 2025 at 4:11 PM ET · SEC Source

Q2 25 EPS

$-0.13

MISS 267.53%

Est. $0.08

Q2 25 Revenue

$112.1M

BEAT +2.02%

Est. $109.8M

vs S&P Since Q2 25

-50.9%

TRAILING MARKET

ALKT -35.5% vs S&P +15.3%

Market Reaction

Did ALKT Beat Earnings? Q2 2025 Results

Alkami Technology posted a mixed but largely encouraging second quarter for 2025, with a top-line beat overshadowed by a sharper-than-expected bottom-line loss. Revenue climbed 36.4% year-over-year to $112.06 million, edging past the $109.84 million … Read more Alkami Technology posted a mixed but largely encouraging second quarter for 2025, with a top-line beat overshadowed by a sharper-than-expected bottom-line loss. Revenue climbed 36.4% year-over-year to $112.06 million, edging past the $109.84 million consensus by 2.02%, while the GAAP loss per share of $-0.13 fell well short of the $0.08 estimate, missing by 267.53%. The primary driver behind that revenue surge was the MANTL acquisition, completed in Q1 2025, which added 23 new clients in the quarter alone and deepened Alkami's integrated digital banking platform. Adjusted EBITDA of $11.92 million more than doubled from $4.55 million a year ago, exceeding the company's own internal target by over 25%. Registered users reached 20.9 million while annual recurring revenue hit $423.76 million, up 32% year-over-year. General Atlantic's recent $29.69 million share purchase signaled continued institutional confidence. Looking ahead, Alkami guided full-year 2025 revenue of $443 million to $447 million and Adjusted EBITDA of $51.50 million to $54 million, reflecting sustained momentum in digital transformation for regional and community financial institutions.

Key Takeaways

  • • MANTL acquisition driving revenue growth and new client wins
  • • New client implementations expanding registered user base by 2.3 million YoY to 20.9 million
  • • Revenue per registered user growth of 17% to $20.28 driven by product penetration
  • • ARR growth of 32% to $424 million
  • • Non-GAAP gross margin expansion to 65.1% from 63.2% through scale and efficiency
  • • LTM churn less than 1% vs long-term modeled 2-3%
  • • Net dollar retention of 113% as of 12/31/24
24/7 Wall St

ALKT YoY Financials

Q2 2025 vs Q2 2024, source: SEC Filings

“We are very pleased to report strong financial performance for the second quarter, with revenue growth of 36% and Adjusted EBITDA of $12 million. We exited the second quarter with 20.9 million users on the Alkami platform, up 2.3 million compared to the year-ago quarter.”

— Alex Shootman, Q2 2025 Earnings Press Release

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