Strong Revenue Growth
Alkami reported a 28.5% year-over-year revenue growth in Q1 2025, reaching $97.8 million. Subscription revenue grew by 27% and represented 95% of total revenue.
MANTL Acquisition Success
Successfully closed the acquisition of MANTL, contributing to $1.4 million in unexpected revenue for the quarter. MANTL added 16 new clients, 5 of which are Alkami Digital Banking clients.
Increased Adjusted EBITDA
Adjusted EBITDA improved to $12.1 million from $3.8 million in the year-ago quarter, marking a significant improvement in profitability.
User Growth
Alkami exited the quarter with 20.5 million registered users, up 2.3 million or 13% compared to the previous year.
Strong Demand and Pipeline
The demand for digital banking remains strong with no signs of decline. The pipeline is healthy and consistent with last year.
Positive Market Expansion
Opened a strategic development center in India to increase product and engineering capacity, already employing over 40 staff with plans to expand.