Alkami Technology Inc ( (ALKT) ) has released its Q1 earnings. Here is a breakdown of the information Alkami Technology Inc presented to its investors.
Alkami Technology, Inc. is a leading provider of cloud-based digital banking solutions for financial institutions in the United States, focusing on enhancing digital banking experiences and expanding market presence.
In the first quarter of 2025, Alkami Technology reported significant financial growth, highlighted by a 28.5% increase in GAAP total revenue, reaching $97.8 million. The company also announced the planned retirement of its Chief Financial Officer, Bryan Hill.
Key financial metrics for the quarter include a GAAP gross margin of 59.0% and a non-GAAP gross margin of 64.3%. The company reduced its GAAP net loss to $7.8 million from $11.4 million in the previous year, and achieved an adjusted EBITDA of $12.1 million. Alkami also completed the acquisition of MANTL, which is expected to enhance revenue growth and gross margin expansion.
The company ended the quarter with an annual recurring revenue of $404 million, marking a 33% increase. Alkami’s platform now supports 20.5 million users, an increase of 2.3 million from the previous year, and revenue per registered user rose by 18% to $19.74.
Looking ahead, Alkami aims to continue its growth trajectory, with projected GAAP total revenue between $443 million and $447 million for the fiscal year 2025. The company remains focused on expanding its market presence and enhancing its digital banking solutions to maintain its leadership position in the industry.