Alkami Technology Inc

Alkami Technology posted a mixed third quarter for fiscal 2025, delivering robust top-line growth but falling short on both earnings and revenue expectations. The digital banking software provider reported revenue of $112.95 million, up 31.5% year-over-year yet narrowly missing the $113.48 million consensus by 0.46%, while its GAAP loss per share of $0.14 fell well short of the $0.12 analyst estimate, a miss of 216.28% that reflected wider net losses tied to elevated operating expenses following the MANTL acquisition completed earlier this year. That deal, alongside new client wins and expanding user monetization, was the primary engine behind the strong revenue growth, with annual recurring revenue climbing 31% to $449.00 million and revenue per registered user rising 19% to $20.83. On a more encouraging note, Adjusted EBITDA nearly doubled to $15.96 million, exceeding internal targets by 18% and signaling improving profitability at scale. Looking ahead, management guided Q4 revenue of $119.60 million to $121.10 million, with full-year 2025 revenue expected between $442.50 million and $444.00 million, underscoring continued confidence in client expansion and ARPU growth.