ALKAMI TECHNOLOGY, INC.ALKT

ALKAMI TECHNOLOGY, INC. Earnings Per Share Disclosure

10-KFiled Feb 26, 20261 min read
Earnings Per Share
Basic net loss per share attributable to common stockholders is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Because the Company has reported a net loss for 2025, 2024, and 2023, the number of shares used to calculate diluted net loss per share of common stock attributable to common stockholders is the same as the number of shares used to calculate basic net loss per share of common stock attributable to common stockholders for the period presented because the
potentially dilutive shares would have been antidilutive if included in the calculation.

The computation of basic and diluted EPS is as follows for the years ended December 31, 2025, 2024, and 2023:
Year ended December 31,
(in thousands, except shares and per share amounts)202520242023
Net Loss$(47,652)$(40,835)$(62,913)
Weighted average shares of common stock outstanding - basic and diluted103,895,195 98,892,692 94,080,797 
Loss per common share - basic and diluted$(0.46)$(0.41)$(0.67)

For the years ended December 31, 2025, 2024, and 2023, the following potential shares were excluded from diluted EPS as the Company had a net loss in each period presented:
Year ended December 31,
202520242023
Stock options889,447 1,298,601 3,914,768 
RSUs5,941,476 6,097,253 7,305,443 
ESPP45,313 30,835 31,240 
2030 Convertible Notes10,511,495 — — 
Total anti-dilutive common share equivalents17,387,731 7,426,689 11,251,451 

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

Income TaxesRevenueFair ValuePP&EGoodwill & IntangiblesLeasesDebtCommitmentsNew Standards