Alkami Technology Inc ( (ALKT) ) has released its Q4 earnings. Here is a breakdown of the information Alkami Technology Inc presented to its investors.
Alkami Technology, Inc. is a prominent provider of cloud-based digital banking solutions for financial institutions in the United States, known for its innovative approach to transforming retail and business banking through digital account opening, payment security, and data and marketing solutions.
Alkami Technology recently reported its fourth-quarter 2024 financial results, highlighting significant revenue growth and improved profitability. The company also announced its strategic acquisition of MANTL, a leading onboarding and account opening solution provider, to enhance its digital banking platform.
In the fourth quarter of 2024, Alkami achieved a GAAP total revenue of $89.7 million, marking a 25.6% increase from the previous year. The company’s GAAP gross margin improved to 59.3%, while its non-GAAP gross margin reached 63.1%. Alkami also reported a reduced GAAP net loss of $7.6 million compared to $12.7 million in the same quarter last year. The company’s adjusted EBITDA saw a significant rise to $10.2 million from $3.1 million in the year-ago quarter. For the full year 2024, Alkami’s GAAP total revenue grew by 26.1% to $333.8 million, with a GAAP net loss of $40.8 million, a notable improvement from the $62.9 million loss in 2023.
The acquisition of MANTL is expected to solidify Alkami’s position as a leading digital sales and service platform, enabling financial institutions to enhance customer onboarding and engagement across multiple channels. This strategic move is anticipated to expand Alkami’s market share and drive additional revenue growth through cross-selling opportunities.
Looking ahead, Alkami’s management remains optimistic about the company’s growth trajectory, projecting a GAAP total revenue of $440.0 million to $445.0 million for 2025, with an adjusted EBITDA ranging from $47.0 million to $51.0 million. The integration of MANTL is expected to contribute positively to Alkami’s financial performance, further strengthening its competitive edge in the digital banking sector.