Companies /Technology

Alkami Technology Inc

NASDAQ: ALKT Software - Application
$20.35
â–² $0.00 (+0.00%) today
Markets closed · 1:33am ET

Q2 2025 Earnings

Reported Jul 30, 2025, 4:11pm ET · SEC source
$-0.13
Miss −267.53%
EPS · est. $0.08
$112.1M
Beat +2.02%
Revenue · est. $109.8M
+8.9%
Beating market
ALKT vs S&P since report
4 quarters
Consecutive EPS misses

Market Reaction

% change · around the report
−12%−6%0+6%Jul 30Jul 31report 4:11pm ETearnings−0.8%−11.3%
−12%−6%0+6%Jul 30Jul 31earnings−0.8%−11.3%
ALKT −11.3%S&P 500 −0.8%
−12%−6%0+6%Jul 30Jul 31report 4:11pm ETearnings−1.2%−11.3%
−12%−6%0+6%Jul 30Jul 31earnings−1.2%−11.3%
ALKT −11.3%NASDAQ −1.2%
−16%−8%0+8%Jul 29Aug 7report 4:11pm ETearnings−0.8%−16.7%
−16%−8%0+8%Jul 29Aug 7earnings−0.8%−16.7%
ALKT −16.7%S&P 500 −0.8%
−16%−8%0+8%Jul 29Aug 7report 4:11pm ETearnings−0.5%−16.7%
−16%−8%0+8%Jul 29Aug 7earnings−0.5%−16.7%
ALKT −16.7%NASDAQ −0.5%
−14.79%
Day of report
−8.08%
Next session
−6.33%
One week
+10.18%
30 days

S&P 500 over the same 30 days: +1.30%.

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 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

“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.”

Alkami Technology CEO, on the earnings call

Forward Guidance & Outlook

For Q3 2025, Alkami guided GAAP total revenue of $112.5 million to $114.0 million and Adjusted EBITDA of $13.0 million to $14.0 million. For full-year 2025, the company guided GAAP total revenue of $443.0 million to $447.0 million and Adjusted EBITDA of $51.5 million to $54.0 million. Revenue growth is expected to be driven by continued new client expansion, existing user growth, and ARPU expansion, while Adjusted EBITDA growth is expected to be driven by continued scale and efficiencies in operating costs. Guidance includes the impact of a global capability center (GCC) investment. The company plans to increase gross margin 200-300 basis points per year through 2026.

ALKT YoY Financials

Q2 2025 vs Q2 2024 · SEC filings Q2 2024 Q2 2025
$0$40.0M$80.0M$120.0M$82.2M$112.1MRevenue$48.8M$65.6MGross Profit$-19,856,052$-15,863,000Operating Income$-15,158,376$-13,591,000Net Income
$0$40.0M$80.0M$120.0MRevenueGross ProfitOperating IncomeNet Income

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