ALKAMI TECHNOLOGY, INC.

Listed Company

ALKTCIK 0001529274NasdaqLarge AcceleratedServices-Prepackaged SoftwareDelawareFY ends Dec 31

Period

FY 2025

Revenue

$443.64M

Net Income

$-47.65M

Total Assets

$847.23M

Equity

$362.05M

Shares Out

107.02M

Op. Cash Flow

$42.91M

Business

Alkami Technology, Inc. is a cloud-based digital banking solutions provider that enables community, regional and super-regional financial institutions to compete with larger banks. It offers the Alkami Digital Banking Platform as a SaaS ecosystem delivering account opening, marketing, data insights, card experience, money movement, customer service, business banking, financial wellness, security and fraud protection, and extensibility via SDKs/APIs. Key business segments include its multi-tenant digital banking platform and acquired offerings (ACH Alert, MK Decisioning, Segmint) for fraud prevention, origination and analytics. Alkami primarily serves U.S. financial institutions through direct sales, long-term subscription contracts and integrations with more than 300 third-party systems across digital channels.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	444	334	265	204	152
Cost of revenues	187	137	121	96	68
Gross profit	257	197	144	108	84
Research and development	118	96	85	69	49
Sales and marketing	80	60	49	37	24
General and administrative	101	84	73	71	50
Acquisition-related expenses	3	195,000	263,000	−13	3
Amortization of acquired intangibles	6	1	1	1	368,000
Loss on impairment of intangible assets	2	0	0	—	—
Total operating expenses	310	241	208	166	127
Loss from operations	−54	−45	−64	−58	−43
Interest income	4	5	8	3	487,000
Interest expense	−9	−461,000	−7	−4	—
Gain on financial instruments	0	0	534,000	−200,000	—
Loss on extinguishment of debt	0	0	−409,000	−18,000	0
Loss before income taxes	−59	−41	−63	−59	−47
(Benefit from) provision for income taxes	−11	308,000	44,000	−461,000	172,000
Net loss	−48	−41	−63	−59	−47
Basic (in dollars per share)	−0.46	−0.41	−0.67	−0.64	−0.73
Diluted (in dollars per share)	−0.46	−0.41	−0.67	−0.64	−0.73
Basic (in shares)	104	99	94	91	65
Diluted (in shares)	104	99	94	91	65

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	63	94	41	109	309
Marketable securities	36	21	51	—	—
Accounts receivable, net	51	39	35	26	21
Deferred costs, current	16	13	10	8	6
Prepaid expenses and other current assets	21	14	11	12	9
Total current assets	187	181	149	242	345
Property and equipment, net	27	22	17	14	12
Right-of-use assets	13	15	16	15	0
Deferred costs, net of current portion	47	37	31	25	18
Intangibles, net	159	29	36	43	11
Goodwill	403	148	148	148	48
Other assets	10	5	4	3	2
Total assets	847	437	400	489	437
Accounts payable	6	6	7	4	4
Accrued liabilities	47	25	20	22	19
Deferred revenues, current portion	35	14	11	9	8
Lease liabilities, current portion	2	1	1	4	0
Total current liabilities	90	46	39	42	33
Deferred revenues, net of current portion	26	16	15	14	14
Deferred income taxes	3	2	2	2	85,000
Convertible senior notes, net	336	0	—	—	—
Revolving loan	15	0	—	—	—
Lease liabilities, net of current portion	16	17	18	16	0
Other non-current liabilities	237,000	220,000	305,000	400,000	17
Total liabilities	485	80	75	155	92
Commitments and contingencies (Note 13)	—	—	—	—	—
Preferred stock, $0.001 par value, 10,000,000 shares authorized and 0 shares issued and outstanding as of December 31, 2025 and 2024	0	0	0	0	0
Common stock, $0.001 par value, 500,000,000 shares authorized and 106,101,875 and 102,088,783 shares issued and outstanding as of December 31, 2025 and 2024, respectively	106,000	102,000	97,000	92,000	90,000
Additional paid-in capital	886	833	760	706	658
Accumulated deficit	−524	−476	−435	−372	−314
Total stockholders equity	362	357	325	334	345
Total liabilities and stockholders' equity	847	437	400	489	437

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization expense	27	11	11	8	3
Accrued interest on marketable securities, net	−854,000	−1	−3	−369,000	0
Stock-based compensation expense	76	59	51	45	15
Amortization of discount and debt issuance costs	2	210,000	138,000	—	—
Gain on financial instruments	0	0	−532,000	200,000	3
Gain on lease modification	0	0	−375,000	0	0
Deferred taxes	−12	109,000	−32,000	−690,000	85,000
Accounts receivable	−11	−3	−9	−4	−6
Prepaid expenses and other assets	−9	−4	425,000	−3	352,000
Accounts payable and accrued liabilities	20	3	91,000	−1	7
Deferred costs	−12	−9	−8	−8	−5
Deferred revenues	10	3	4	522,000	1
Net cash provided by (used in) operating activities	43	19	−18	−38	−29
Purchase of marketable securities	−45	−40	−141	−187	0
Proceeds from sales, maturities, and redemptions of marketable securities	32	71	181	100	—
Purchases of property and equipment	−2	−1	−1	−1	−1
Capitalized software development costs	−7	−7	−5	−3	−3
Acquisition of business, net of cash acquired	−375	0	0	−132	−18
Net cash (used in) provided by investing activities	−398	23	34	−224	−22
Payments on revolving loan	−45	0	0	0	0
Principal payments on debt	0	0	−85	−25	−313,000
Payment of holdback funds from acquisition	0	0	−4	−1	0
Debt issuance costs paid	−2	−363,000	−341,000	−773,000	0
Proceeds from ESPP issuance	5	5	4	3	3
Proceeds from issuance of convertible senior notes	336	0	0	—	—
Proceeds from borrowing under revolving loan	60	0	0	—	—
Purchase of capped calls	−34	0	0	—	—
Payments for taxes related to net settlement of equity awards	0	−13	−16	−3	0
Proceeds from stock option exercises	4	20	13	2	9
Net cash provided by (used in) financing activities	324	12	−88	61	192
Net (decrease) increase in cash and cash equivalents	−31	53	−71	−201	141
Cash paid for interest	6	283,000	7	4	1
Cash paid for taxes (states)	475,000	375,000	332,000	—	—
Cash paid for taxes (foreign)	201,000	0	0	—	—

Filings

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