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1. Company Snapshot

1.a. Company Description

Alkami Technology, Inc.offers a cloud-based digital banking platform in the United States.The company's platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, multi-tenant architecture.


It offers an end- to- end set of software products, which include Alkami Platform, Retail Banking Solutions, Business Banking Solutions, and The Alkami Difference.It serves community, regional, credit unions, and retail and business banking.Alkami Technology, Inc.


was founded in 2009 and is headquartered in Plano, Texas.

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1.b. Last Insights on ALKT

Alkami Technology's recent performance was negatively impacted by its Q3 earnings miss, with the company reporting earnings of $0.13 per share, below the Zacks Consensus Estimate of $0.15 per share. Additionally, the company faced a GAAP net loss of $(14.8) million, compared to $(9.4) million in the year-ago quarter. Investigations by law firms Levi & Korsinsky and Pomerantz LLP on behalf of investors concerning possible violations of federal securities laws also weighed on the stock. Meanwhile, Bank of New York Mellon Corp decreased its stake in Alkami by 22.8%.

1.c. Company Highlights

2. Alkami's Q3 2025 Earnings: Strong Revenue Growth and Expanding Margins

Alkami reported a robust third quarter in 2025, with revenue growing 31% year-over-year, and adjusted EBITDA reaching $16 million. The company's registered users on the Alkami platform stood at 21.6 million, up 2.1 million from the prior year quarter. Earnings per share (EPS) came in at $0.13, slightly below estimates of $0.15. The company's adjusted EBITDA margin expanded to 14.1% in Q3, demonstrating its ability to scale operations efficiently.

Publication Date: Nov -06

📋 Highlights
  • Revenue Growth:: Q3 revenue increased 31% year-over-year with adjusted EBITDA reaching $16 million.
  • MANTL Expansion:: Added 29 new MANTL clients (15 new to Alkami) and achieved 68 cross-sell logos year-to-date.
  • New Client Acquisition:: Secured 10 new digital banking clients, including a top-20 credit union with 450,000 digital users.
  • Financial Guidance:: Q4 revenue projected at $119.6–$121.1 million (22% growth) and adjusted EBITDA of $16.1–$17.1 million.
  • Product Development:: Launched design phase for digital sales/service platform, with a dedicated team and client demos planned for spring 2026.

Revenue Growth and Client Acquisition

The company added 10 new clients on its digital banking platform, including six credit unions and four banks, with one client being the largest new logo transaction in its history. The MANTL business delivered a strong quarter, with 29 new clients, 15 of which were new to Alkami. This underscores the success of Alkami's cross-sell efforts, with MANTL adding 68 new logos year-to-date, including 29 existing Alkami clients.

Operational Highlights and Guidance

Alkami guided revenue for Q4 2025 in the range of $119.6 million to $121.1 million, representing organic growth of 22%. Adjusted EBITDA is expected to be between $16.1 million and $17.1 million. For the full year 2025, the company expects revenue to be between $442.5 million and $444 million, with adjusted EBITDA in the range of $56 million to $57 million. Analysts estimate revenue growth of 23.8% for the next year, indicating a consistent trajectory.

Valuation and Future Prospects

With a P/S Ratio of 4.86 and an EV/EBITDA of -74.33, Alkami's valuation reflects its growth profile. The company's ability to innovate and expand its offerings, such as through the integration of MANTL and the development of AI-driven solutions, positions it well for future growth. As Alkami continues to execute on its strategy, its financial performance and guidance suggest a positive outlook for shareholders. The upcoming integration of Cassandra Hudson as CFO is expected to further enhance the company's financial management and strategic direction.

3. NewsRoom

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The Girl Banker to Headline Women in Banking at Alkami Co:lab 2026

Dec -03

Source: prnewswire.com

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Alkami Technology, Inc. (NASDAQ:ALKT) Receives $36.00 Consensus PT from Analysts

Nov -25

Source: defenseworld.net

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Ryan Leak Announced as Keynote Speaker for Alkami Co:lab 2026

Nov -24

Source: prnewswire.com

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INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Alkami Technology, Inc. - ALKT

Nov -20

Source: prnewswire.com

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Bank of New York Mellon Corp Sells 119,832 Shares of Alkami Technology, Inc. $ALKT

Nov -19

Source: defenseworld.net

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Financial Institution Leaders to Discuss Alkami's Digital Sales & Service Platform

Nov -17

Source: prnewswire.com

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Jana Partners' Strategic Move: Significant Addition of The Cooper Companies Inc

Nov -14

Source: gurufocus.com

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Exclusive: Activist investor Jana Partners built stake in Alkami Technology in Q3, sources say

Nov -14

Source: reuters.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (13.50%)

6. Segments

Software-as-a-Service Subscription

Expected Growth: 13.47%

Alkami Technology, Inc.'s 13.47% growth in Software-as-a-Service (SaaS) subscriptions is driven by increasing demand for digital banking solutions, expansion into new markets, and strategic partnerships. The company's cloud-based platform provides scalability and flexibility, attracting more financial institutions. Additionally, the shift towards online banking and mobile payments fuels growth, as Alkami's SaaS model offers a cost-effective and efficient solution for clients.

Implementation

Expected Growth: 14.07%

Alkami Technology, Inc.'s 14.07% growth is driven by increasing adoption of its cloud-based digital banking platform, expansion into new markets, and strategic partnerships. The company's focus on innovation, customer experience, and operational efficiency has enabled it to capitalize on the growing demand for digital banking solutions, resulting in accelerated revenue growth.

Other

Expected Growth: 14.07%

Alkami Technology's 14.07% growth is driven by increasing adoption of its cloud-based digital banking platform, expansion into new markets, and strategic partnerships. The company's focus on innovation, customer experience, and operational efficiency has enabled it to capitalize on the growing demand for digital transformation in the financial services industry.

7. Detailed Products

Digital Banking Platform

A cloud-based digital banking platform that provides a seamless and personalized banking experience for customers

Origination Platform

A digital lending platform that streamlines the loan origination process for banks and credit unions

Account Opening Platform

A digital account opening platform that enables customers to open accounts online or through mobile devices

Digital Payment Platform

A digital payment platform that enables person-to-person (P2P) payments, bill pay, and account-to-account (A2A) transfers

Data Analytics and Insights

A data analytics platform that provides insights and data visualization for financial institutions

8. Alkami Technology, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Alkami Technology, Inc. operates in a niche market, providing digital banking solutions to financial institutions. While there are some substitutes available, they are not as comprehensive or tailored to the specific needs of community banks and credit unions. Therefore, the threat of substitutes is moderate.

Bargaining Power Of Customers

Alkami Technology, Inc.'s customers are primarily community banks and credit unions, which have limited bargaining power due to their smaller size and limited resources. This gives Alkami Technology, Inc. an upper hand in negotiations.

Bargaining Power Of Suppliers

Alkami Technology, Inc. relies on a few key suppliers for its technology and infrastructure. While these suppliers have some bargaining power, Alkami Technology, Inc. has diversified its supply chain to mitigate this risk.

Threat Of New Entrants

The digital banking solutions market is rapidly evolving, and new entrants are emerging with innovative solutions. Alkami Technology, Inc. faces a high threat from new entrants, which could potentially disrupt its market share.

Intensity Of Rivalry

The digital banking solutions market is highly competitive, with several established players vying for market share. Alkami Technology, Inc. faces intense competition from rivals, which could lead to pricing pressures and reduced market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 5.59%
Debt Cost 5.94%
Equity Weight 94.41%
Equity Cost 5.94%
WACC 5.94%
Leverage 5.93%

11. Quality Control: Alkami Technology, Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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A-Score: 5.7/10

Value: 3.2

Growth: 8.1

Quality: 8.5

Yield: 0.0

Momentum: 7.5

Volatility: 6.7

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Alarm.com

A-Score: 5.1/10

Value: 3.8

Growth: 8.3

Quality: 6.8

Yield: 0.0

Momentum: 4.0

Volatility: 7.7

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PTC

A-Score: 5.0/10

Value: 1.5

Growth: 6.9

Quality: 8.3

Yield: 0.0

Momentum: 6.0

Volatility: 7.3

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Elastic

A-Score: 4.2/10

Value: 2.5

Growth: 8.0

Quality: 4.9

Yield: 0.0

Momentum: 6.0

Volatility: 4.0

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Progress Software

A-Score: 4.2/10

Value: 4.4

Growth: 6.4

Quality: 6.0

Yield: 1.0

Momentum: 1.0

Volatility: 6.3

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Alkami Technology

A-Score: 3.4/10

Value: 4.4

Growth: 7.1

Quality: 3.8

Yield: 0.0

Momentum: 0.5

Volatility: 4.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

21.27$

Current Price

21.27$

Potential

-0.00%

Expected Cash-Flows