Alkami Announces Second Quarter 2025 Financial Results
Alkami Technology (Nasdaq: ALKT), a cloud-based digital banking solutions provider, reported strong Q2 2025 financial results. The company achieved total revenue of $112.1 million, up 36.4% year-over-year, with a non-GAAP gross margin of 65.1%. Despite posting a GAAP net loss of $(13.6) million, Alkami's Adjusted EBITDA reached $11.9 million, significantly higher than $4.6 million in the year-ago quarter.
The company now serves 20.9 million users on its platform, representing a growth of 2.3 million users year-over-year. Annual recurring revenue reached $424 million, up 32%, with revenue per registered user increasing 17% to $20.28. For Q3 2025, Alkami projects revenue between $112.5-$114.0 million and full-year 2025 revenue of $443.0-$447.0 million.
The company's recent MANTL acquisition showed immediate results, adding 23 new clients in Q2, including three new Alkami digital banking wins.Alkami Technology (Nasdaq: ALKT), fornitore di soluzioni bancarie digitali basate su cloud, ha riportato solidi risultati finanziari del secondo trimestre 2025. L'azienda ha raggiunto un fatturato totale di 112,1 milioni di dollari, in crescita del 36,4% su base annua, con un margine lordo non-GAAP del 65,1%. Nonostante una perdita netta GAAP di 13,6 milioni di dollari, l'EBITDA rettificato di Alkami ha raggiunto 11,9 milioni di dollari, significativamente superiore ai 4,6 milioni del trimestre dell'anno precedente.
L'azienda serve ora 20,9 milioni di utenti sulla sua piattaforma, con una crescita di 2,3 milioni di utenti rispetto all'anno precedente. Il ricavo ricorrente annuo ha raggiunto 424 milioni di dollari, in aumento del 32%, con un ricavo per utente registrato aumentato del 17% a 20,28 dollari. Per il terzo trimestre 2025, Alkami prevede un fatturato tra 112,5 e 114,0 milioni di dollari e un fatturato annuo 2025 tra 443,0 e 447,0 milioni di dollari.
L'acquisizione recente di MANTL ha mostrato risultati immediati, aggiungendo 23 nuovi clienti nel secondo trimestre, inclusi tre nuovi contratti per la banca digitale Alkami.
Alkami Technology (Nasdaq: ALKT), proveedor de soluciones bancarias digitales basadas en la nube, reportó sólidos resultados financieros del segundo trimestre de 2025. La compañía alcanzó un ingreso total de 112.1 millones de dólares, un aumento del 36.4% interanual, con un margen bruto non-GAAP del 65.1%. A pesar de registrar una pérdida neta GAAP de 13.6 millones de dólares, el EBITDA ajustado de Alkami fue de 11.9 millones de dólares, mucho mayor que los 4.6 millones del mismo trimestre del año anterior.
La empresa ahora atiende a 20.9 millones de usuarios en su plataforma, representando un crecimiento de 2.3 millones de usuarios respecto al año anterior. Los ingresos recurrentes anuales alcanzaron 424 millones de dólares, un aumento del 32%, con ingresos por usuario registrado incrementándose un 17% a 20.28 dólares. Para el tercer trimestre de 2025, Alkami proyecta ingresos entre 112.5 y 114.0 millones de dólares y para todo el año 2025 ingresos entre 443.0 y 447.0 millones de dólares.
La reciente adquisición de MANTL mostró resultados inmediatos, agregando 23 nuevos clientes en el segundo trimestre, incluidos tres nuevos contratos de banca digital Alkami.
Alkami Technology (나스닥: ALKT)는 클라우드 기반 디지털 뱅킹 솔루션 제공업체로서 강력한 2025년 2분기 재무 실적을 보고했습니다. 회사는
현재 회사 플랫폼에는
최근 인수한 MANTL은 즉각적인 성과를 보이며 2분기에
Alkami Technology (Nasdaq : ALKT), fournisseur de solutions bancaires numériques basées sur le cloud, a annoncé de solides résultats financiers pour le deuxième trimestre 2025. La société a réalisé un chiffre d'affaires total de 112,1 millions de dollars, en hausse de 36,4 % sur un an, avec une marge brute non-GAAP de 65,1 %. Malgré une perte nette GAAP de 13,6 millions de dollars, l'EBITDA ajusté d'Alkami a atteint 11,9 millions de dollars, nettement supérieur aux 4,6 millions du trimestre de l'année précédente.
La société compte désormais 20,9 millions d'utilisateurs sur sa plateforme, soit une croissance de 2,3 millions d'utilisateurs par rapport à l'année précédente. Le revenu récurrent annuel a atteint 424 millions de dollars, en hausse de 32 %, avec un revenu par utilisateur inscrit en hausse de 17 % à 20,28 dollars. Pour le troisième trimestre 2025, Alkami prévoit un chiffre d'affaires compris entre 112,5 et 114,0 millions de dollars et un chiffre d'affaires annuel 2025 entre 443,0 et 447,0 millions de dollars.
La récente acquisition de MANTL a donné des résultats immédiats, ajoutant 23 nouveaux clients au deuxième trimestre, dont trois nouveaux contrats de banque digitale Alkami.
Alkami Technology (Nasdaq: ALKT), ein Anbieter cloudbasierter digitaler Banklösungen, meldete starke Finanzergebnisse für das zweite Quartal 2025. Das Unternehmen erzielte einen Gesamtumsatz von 112,1 Millionen US-Dollar, was einem Anstieg von 36,4 % im Jahresvergleich entspricht, mit einer Non-GAAP-Bruttomarge von 65,1 %. Trotz eines GAAP-Nettogesamtverlusts von 13,6 Millionen US-Dollar erreichte Alkamis bereinigtes EBITDA 11,9 Millionen US-Dollar, deutlich höher als 4,6 Millionen im Vorjahresquartal.
Das Unternehmen betreut nun 20,9 Millionen Nutzer auf seiner Plattform, was einem Wachstum von 2,3 Millionen Nutzern gegenüber dem Vorjahr entspricht. Der jährliche wiederkehrende Umsatz erreichte 424 Millionen US-Dollar, ein Anstieg von 32 %, wobei der Umsatz pro registriertem Nutzer um 17 % auf 20,28 US-Dollar stieg. Für das dritte Quartal 2025 prognostiziert Alkami einen Umsatz zwischen 112,5 und 114,0 Millionen US-Dollar und für das Gesamtjahr 2025 einen Umsatz zwischen 443,0 und 447,0 Millionen US-Dollar.
Die kürzliche Übernahme von MANTL zeigte sofortige Ergebnisse und brachte im zweiten Quartal 23 neue Kunden, darunter drei neue digitale Bankkunden von Alkami.
- Revenue grew significantly by 36.4% year-over-year to $112.1 million
- Adjusted EBITDA increased to $11.9 million from $4.6 million year-ago quarter
- Non-GAAP gross margin improved to 65.1% from 63.2% year-ago quarter
- User base expanded by 2.3 million to 20.9 million users
- Annual recurring revenue grew 32% to $424 million
- Revenue per registered user increased 17% to $20.28
- MANTL acquisition added 23 new clients in Q2
- GAAP net loss increased to $(13.6) million from $(12.3) million year-ago quarter
- GAAP gross margin declined to 58.6% from 59.4% year-ago quarter
Insights
Alkami posts impressive 36.4% revenue growth with expanding non-GAAP margins, though still operating at a net loss while showing strong ARR growth.
Alkami delivered robust Q2 2025 results with
Looking at profitability metrics, Alkami showed mixed results. While GAAP gross margin slightly contracted to
Particularly noteworthy is the substantial improvement in Adjusted EBITDA, which reached
The company's annual recurring revenue (ARR) reached
Alkami's recent acquisition of MANTL appears to be paying dividends, with 23 new clients added in Q2, including cross-selling opportunities with both new and existing Alkami digital banking clients. This integration strengthens Alkami's competitive position in digital onboarding and account opening functionalities.
For Q3 2025, management expects revenue between
Second Quarter 2025 Financial Highlights
- GAAP total revenue of
$112.1 million 36.4% compared to the year-ago quarter; - GAAP gross margin of
58.6% , compared to59.4% in the year-ago quarter; - Non-GAAP gross margin of
65.1% , compared to63.2% in the year-ago quarter; - GAAP net loss of
$(13.6) million $(12.3) million - Adjusted EBITDA of
$11.9 million $4.6 million
Comments on the News
Alex Shootman, Chief Executive Officer, said, "We are very pleased to report strong financial performance for the second quarter, with revenue growth of
Shootman added, "We continue to see robust demand for digital transformation among regional and community financial institutions. Most of the 250 million-plus digital users in our target market are still on legacy platforms that do not deliver the functionality and experience today's consumers demand. This is particularly evident with onboarding and account opening, and is what informed our recent acquisition of MANTL. In the second quarter alone, MANTL added 23 new clients, including three that were attached to new Alkami digital banking wins and six that were existing Alkami digital banking clients. Today we believe we deliver the best digital sales and service platform in the industry, with fully-integrated digital banking, data and marketing, and onboarding and account opening."
Bryan Hill, Chief Financial Officer, said, "We exited the second quarter with annual recurring revenue of
2025 Financial Outlook
The following statements are forward-looking, and actual results could differ materially depending on market conditions and the factors set forth under "Cautionary Statement Regarding Forward-Looking Statements."
Alkami is providing guidance for its third quarter ending September 30, 2025 of:
- GAAP total revenue in the range of
$112.5 million $114.0 million - Adjusted EBITDA in the range of 13.0 million to 14.0 million.
Alkami is providing guidance for its fiscal year ending December 31, 2025 of:
- GAAP total revenue in the range of
$443.0 million $447.0 million - Adjusted EBITDA in the range of 51.5 million to 54.0 million.
Conference Call Information
The Company will host a conference call at 5:00 p.m. ET today to discuss its financial results with investors. A live webcast of the event will be available on the Alkami investor relations website at investors.alkami.com. In addition, a live dial-in will be available domestically at 1-800-836-8184 and internationally at 1-646-357-8785, using passcode 07594. The webcast replay will be available on the Alkami investor relations website.
About Alkami
Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in
Cautionary Statement Regarding Forward-Looking Statements
This press release contains "forward-looking" statements relating to Alkami Technology, Inc.'s strategy, goals, future focus areas, and expected, possible or assumed future results, including its future cash flows and its financial outlook. These forward-looking statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements that are not historical facts and may be identified by terms such as "expects," "believes," "plans," or similar expressions and the negatives of those terms. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements, expressed or implied by the forward-looking statements. Factors that may materially affect such forward-looking statements include: Our limited operating history and history of operating losses; our ability to manage future growth; our ability to attract new clients and retain and expand existing clients' use of our solutions; the unpredictable and time-consuming nature of our sales cycles; our ability to maintain, protect and enhance our brand; our ability to accurately predict the long-term rate of client subscription renewals or adoption of our solutions; our reliance on third-party software, content and services; our ability to effectively integrate our solutions with other systems used by our clients; intense competition in our industry; any downturn, consolidation or decrease in technology spend in the financial services industry, including as a result of recent closures of certain financial institutions and liquidity concerns at other financial institutions; our ability and the ability of third parties on which we rely to prevent and identify breaches of security measures (including cybersecurity) and resulting disruptions of our systems or operations and unauthorized access to client customer and other data; our ability to successfully integrate acquired companies or businesses; our ability to comply with regulatory and legal requirements and developments; our ability to attract and retain key employees; the political, economic and competitive conditions in the markets and jurisdictions where we operate; our ability to maintain, develop and protect our intellectual property; our ability to respond to evolving technological requirements to develop or acquire new and enhanced products that achieve market acceptance in a timely manner; our ability to estimate our expenses, future revenues, capital requirements, our needs for additional financing and our ability to obtain additional capital and other factors described in the Company's filings with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Explanation of Non-GAAP Financial Measures and Key Business Metrics
The company reports its financial results in accordance with accounting principles generally accepted in
The company defines "Non-GAAP Cost of Revenues" as cost of revenues, excluding (1) amortization and (2) stock-based compensation expense. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company's financial and operational performance, comparing this performance to the company's peers and competitors, and understanding the company's ability to generate income from ongoing business operations.
The company defines "Non-GAAP Gross Margin" as gross profit, plus (1) amortization and (2) stock-based compensation expense, all divided by revenue. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company's financial and operational performance, comparing this performance to the company's peers and competitors, and understanding the company's ability to generate income from ongoing business operations.
The company defines "Non-GAAP Research and Development Expense" as research and development expense, excluding stock-based compensation expense. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company's financial and operational performance, comparing this performance to the company's peers and competitors, and understanding the company's ongoing expenditures related to product innovation.
The company defines "Non-GAAP Sales and Marketing Expense" as sales and marketing expense, excluding stock-based compensation expense. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company's financial and operational performance, comparing this performance to the company's peers and competitors, and understanding the company's ongoing expenditures related to its sales and marketing strategies.
The company defines "Non-GAAP General and Administrative Expense" as general and administrative expense, excluding stock-based compensation expense. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company's financial and operational performance, comparing this performance to the company's peers and competitors, and understanding the company's underlying expense structure to support corporate activities and processes.
The company defines "Non-GAAP Income Before Income Taxes" as loss before income taxes, plus (1) loss on financial instruments, (2) amortization, (3) stock-based compensation expense, (4) acquisition-related expenses, and (5) loss on impairment of intangible assets. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company's financial and operational performance, comparing this performance to the company's peers and competitors, and understanding the company's ability to generate income from ongoing business operations.
The company defines "Adjusted EBITDA" as net loss plus (1) (benefit from) provision for income taxes, (2) loss on financial instruments, (3) interest expense (income), net, (4) depreciation and amortization (5) stock-based compensation expense, (6) acquisition-related expenses, and (7) loss on impairment of intangible assets. The company believes adjusted EBITDA provides investors and other users of our financial information consistency and comparability with our past financial performance and facilitates period-to-period comparisons of operations.
In addition, the Company also uses the following important operating metrics to evaluate its business:
The company defines "Annual Recurring Revenue (ARR)" by aggregating annualized recurring revenue related to SaaS subscription services recognized in the last month of the reporting period as well as the next 12 months of expected implementation services revenues in the last month of the reporting period. We believe ARR provides important information about our future revenue potential, our ability to acquire new clients, and our ability to maintain and expand our relationship with existing clients.
The company defines "Registered Users" as an individual or business related to an account holder of an FI client on our digital banking platform and has access as of the last day of the reporting period presented. We exclude individuals or businesses that solely use the products and services of our acquisitions. We price our digital banking platform based on the number of registered users, so as the number of registered users of our digital banking platform increases, our ARR grows. We believe growth in the number of registered users provides important information about our ability to expand market adoption of our digital banking platform and its associated software products, and therefore to grow revenues over time.
The company defines "Revenue per Registered User (RPU)" by dividing ARR for the reporting period by the number of registered users as of the last day of the reporting period. We believe RPU provides important information about our ability to grow the number of software products adopted by new clients over time, as well as our ability to expand the number of software products that our existing clients add to their contracts with us over time.
The company does not provide a reconciliation of our adjusted EBITDA outlook to GAAP net loss because certain significant information required for such reconciliation is not available without unreasonable efforts, including benefit from/provision for income taxes, gain/loss on financial instruments, stock-based compensation expense, and acquisition-related expenses, net, all of which may be significant.
ALKAMI TECHNOLOGY, INC. | |||
CONDENSED CONSOLIDATED BALANCE SHEETS | |||
(In thousands, except share and per share data) | |||
(UNAUDITED) | |||
June 30, | December 31, | ||
2025 | 2024 | ||
Assets | |||
Current assets | |||
Cash and cash equivalents | $ 52,426 | $ 94,359 | |
Marketable securities | 34,686 | 21,375 | |
Accounts receivable, net | 47,679 | 38,739 | |
Deferred costs, current | 14,629 | 13,207 | |
Prepaid expenses and other current assets | 28,411 | 13,697 | |
Total current assets | 177,831 | 181,377 | |
Property and equipment, net | 24,190 | 22,075 | |
Right-of-use assets | 14,213 | 14,565 | |
Deferred costs, net of current portion | 38,516 | 37,178 | |
Intangibles, net | 172,182 | 29,021 | |
Goodwill | 403,814 | 148,050 | |
Other assets | 9,643 | 5,011 | |
Total assets | $ 840,389 | $ 437,277 | |
Liabilities and Stockholders' Equity | |||
Current liabilities | |||
Accounts payable | $ 6,704 | $ 6,129 | |
Accrued liabilities | 30,965 | 24,520 | |
Deferred revenues, current portion | 27,157 | 13,578 | |
Lease liabilities, current portion | 1,584 | 1,343 | |
Total current liabilities | 66,410 | 45,570 | |
Deferred revenues, net of current portion | 25,600 | 15,526 | |
Deferred income taxes | 2,413 | 1,822 | |
Convertible senior notes, net | 335,208 | — | |
Revolving loan | 50,000 | — | |
Lease liabilities, net of current portion | 16,513 | 17,109 | |
Other non-current liabilities | 229 | 220 | |
Total liabilities | 496,373 | 80,247 | |
Stockholders' Equity | |||
Preferred stock, | — | — | |
Common stock, | 104 | 102 | |
Additional paid-in capital | 841,520 | 833,129 | |
Accumulated deficit | (497,608) | (476,201) | |
Total stockholders' equity | 344,016 | 357,030 | |
Total liabilities and stockholders' equity | $ 840,389 | $ 437,277 | |
ALKAMI TECHNOLOGY, INC. | |||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||
(In thousands, except share and per share data) | |||||||
(UNAUDITED) | |||||||
Three months ended June 30, | Six months ended June 30, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
Revenues | $ 112,059 | $ 82,160 | $ 209,894 | $ 158,287 | |||
Cost of revenues(1) | 46,441 | 33,389 | 86,516 | 65,484 | |||
Gross profit | 65,618 | 48,771 | 123,378 | 92,803 | |||
Operating expenses: | |||||||
Research and development | 30,231 | 23,909 | 57,116 | 46,729 | |||
Sales and marketing | 22,991 | 16,964 | 40,890 | 30,807 | |||
General and administrative | 26,039 | 20,612 | 49,810 | 39,927 | |||
Acquisition-related expenses | 513 | 135 | 2,891 | 195 | |||
Amortization of acquired intangibles | 1,707 | 358 | 2,275 | 717 | |||
Loss on impairment of intangible assets | — | — | 1,655 | — | |||
Total operating expenses | 81,481 | 61,978 | 154,637 | 118,375 | |||
Loss from operations | (15,863) | (13,207) | (31,259) | (25,572) | |||
Non-operating income (expense): | |||||||
Interest income | 1,164 | 1,261 | 2,260 | 2,343 | |||
Interest expense | (3,188) | (74) | (3,989) | (147) | |||
Loss on financial instruments | — | (112) | — | — | |||
Loss before income taxes | (17,887) | (12,132) | (32,988) | (23,376) | |||
(Benefit from) provision for income taxes | (4,296) | 185 | (11,581) | 374 | |||
Net loss | $ (13,591) | $ (12,317) | $ (21,407) | $ (23,750) | |||
Net loss per share attributable to common stockholders: | |||||||
Basic and diluted | $ (0.13) | $ (0.13) | $ (0.21) | $ (0.24) | |||
Weighted-average number of shares of common stock outstanding: | |||||||
Basic and diluted | 103,389,459 | 98,103,527 | 102,912,715 | 97,524,379 | |||
(1) Includes amortization of acquired technology of |
ALKAMI TECHNOLOGY, INC. | |||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
(In thousands) | |||
(UNAUDITED) | |||
Six months ended June 30, | |||
2025 | 2024 | ||
Cash flows from operating activities: | |||
Net loss | $ (21,407) | $ (23,750) | |
Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | |||
Depreciation and amortization expense | 11,186 | 5,175 | |
Accrued interest on marketable securities, net | (540) | (787) | |
Stock-based compensation expense | 35,608 | 28,565 | |
Amortization of discount and debt issuance costs | 785 | 65 | |
Loss on impairment of intangible assets | 1,655 | — | |
Deferred taxes | (12,006) | 47 | |
Changes in operating assets and liabilities: | |||
Accounts receivable | (7,461) | (3,453) | |
Prepaid expenses and other assets | (15,752) | (3,790) | |
Accounts payable and accrued liabilities | 4,199 | (653) | |
Deferred costs | (2,280) | (2,569) | |
Deferred revenues | 1,506 | 2,649 | |
Net cash (used in) provided by operating activities | (4,507) | 1,499 | |
Cash flows from investing activities: | |||
Purchase of marketable securities | (29,971) | (15,588) | |
Proceeds from sales, maturities and redemptions of marketable securities | 17,200 | 41,609 | |
Purchases of property and equipment | (882) | (731) | |
Capitalized software development costs | (3,208) | (3,015) | |
Acquisition of business, net of cash acquired | (375,499) | — | |
Net cash (used in) provided by investing activities | (392,360) | 22,275 | |
Cash flows from financing activities: | |||
Payments on revolving loan | (10,000) | — | |
Debt issuance costs paid | (1,898) | — | |
Proceeds from Employee Stock Purchase Plan issuances | 2,943 | 2,598 | |
Proceeds from issuance of convertible senior notes | 335,513 | — | |
Proceeds from borrowing under revolving loan | 60,000 | — | |
Purchase of capped call transaction | (33,879) | — | |
Payments for taxes related to net settlement of equity awards | — | (12,795) | |
Proceeds from stock option exercises | 2,255 | 6,928 | |
Net cash provided by (used in) financing activities | 354,934 | (3,269) | |
Net (decrease) increase in cash and cash equivalents | (41,933) | 20,505 | |
Cash and cash equivalents, beginning of period | 94,359 | 40,927 | |
Cash and cash equivalents, end of period | $ 52,426 | $ 61,432 | |
ALKAMI TECHNOLOGY, INC. | |||||||
RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||
(In thousands, except per share data) | |||||||
(UNAUDITED) | |||||||
Three Months Ended | Six Months Ended | ||||||
June 30, | June 30, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
GAAP total revenues | $ 112,059 | $ 82,160 | $ 209,894 | $ 158,287 | |||
June 30, | |||||||
2025 | 2024 | ||||||
Annual Recurring Revenue (ARR) | $ 423,763 | $ 321,284 | |||||
Registered Users | 20,891 | 18,584 | |||||
Revenue per Registered User (RPU) | $ 20.28 | $ 17.29 | |||||
Non-GAAP Cost of Revenues | |||||||
Set forth below is a presentation of the company's "Non-GAAP Cost of Revenues." Please reference the "Explanation of Non- | |||||||
Three Months Ended | Six Months Ended | ||||||
June 30, | June 30, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
GAAP cost of revenues | $ 46,441 | $ 33,389 | $ 86,516 | $ 65,484 | |||
Amortization | (5,636) | (1,793) | (8,134) | (3,568) | |||
Stock-based compensation expense | (1,706) | (1,347) | (4,342) | (2,525) | |||
Non-GAAP cost of revenues | $ 39,099 | $ 30,249 | $ 74,040 | $ 59,391 | |||
Non-GAAP Gross Margin | |||||||
Set forth below is a presentation of the company's "Non-GAAP Gross Margin." Please reference the "Explanation of Non-GAAP | |||||||
Three Months Ended | Six Months Ended | ||||||
June 30, | June 30, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
GAAP gross margin | 58.6 % | 59.4 % | 58.8 % | 58.6 % | |||
Amortization | 5.0 % | 2.2 % | 3.9 % | 2.3 % | |||
Stock-based compensation expense | 1.5 % | 1.6 % | 2.0 % | 1.6 % | |||
Non-GAAP gross margin | 65.1 % | 63.2 % | 64.7 % | 62.5 % | |||
Non-GAAP Research and Development Expense | |||||||
Set forth below is a presentation of the company's "Non-GAAP Research and Development Expense." Please reference the | |||||||
Three Months Ended | Six Months Ended | ||||||
June 30, | June 30, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
GAAP research and development expense | $ 30,231 | $ 23,909 | $ 57,116 | $ 46,729 | |||
Stock-based compensation expense | (5,424) | (4,256) | (10,858) | (8,254) | |||
Non-GAAP research and development expense | $ 24,807 | $ 19,653 | $ 46,258 | $ 38,475 | |||
Non-GAAP Sales and Marketing Expense | |||||||
Set forth below is a presentation of the company's "Non-GAAP Sales and Marketing Expense." Please reference the | |||||||
Three Months Ended | Six Months Ended | ||||||
June 30, | June 30, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
GAAP sales and marketing expense | $ 22,991 | $ 16,964 | $ 40,890 | $ 30,807 | |||
Stock-based compensation expense | (3,550) | (2,291) | (6,397) | (4,322) | |||
Non-GAAP sales and marketing expense | $ 19,441 | $ 14,673 | $ 34,493 | $ 26,485 | |||
Non-GAAP General and Administrative Expense | |||||||
Set forth below is a presentation of the company's "Non-GAAP General and Administrative Expense." Please reference the | |||||||
Three Months Ended | Six Months Ended | ||||||
June 30, | June 30, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
GAAP general and administrative expense | $ 26,039 | $ 20,612 | $ 49,810 | $ 39,927 | |||
Stock-based compensation expense | (8,835) | (7,119) | (17,920) | (13,464) | |||
Non-GAAP general and administrative expense | $ 17,204 | $ 13,493 | $ 31,890 | $ 26,463 | |||
Non-GAAP Income Before Income Taxes | |||||||
Set forth below is a presentation of the company's "Non-GAAP Income Before Income Taxes." Please reference the | |||||||
Three Months Ended | Six Months Ended | ||||||
June 30, | June 30, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
GAAP loss before income taxes | $ (17,887) | $ (12,132) | $ (32,988) | $ (23,376) | |||
Loss on financial instruments | — | 112 | — | — | |||
Amortization | 7,370 | 2,151 | 10,436 | 4,285 | |||
Stock-based compensation expense | 19,515 | 15,013 | 39,517 | 28,565 | |||
Acquisition-related expenses | 513 | 135 | 2,891 | 195 | |||
Loss on impairment of intangible assets | — | — | 1,655 | — | |||
Non-GAAP income before income taxes | $ 9,511 | $ 5,279 | $ 21,511 | $ 9,669 | |||
Adjusted EBITDA | |||||||
Set forth below is a presentation of the company's "Adjusted EBITDA." Please reference the "Explanation of Non-GAAP | |||||||
Three Months Ended | Six Months Ended | ||||||
June 30, | June 30, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
GAAP net loss | $ (13,591) | $ (12,317) | $ (21,407) | $ (23,750) | |||
(Benefit from) provision for income taxes | (4,296) | 185 | (11,581) | 374 | |||
Loss on financial instruments | — | 112 | — | — | |||
Interest expense (income), net | 2,024 | (1,187) | 1,729 | (2,196) | |||
Depreciation and amortization | 7,756 | 2,613 | 11,186 | 5,175 | |||
Stock-based compensation expense | 19,515 | 15,013 | 39,517 | 28,565 | |||
Acquisition-related expenses | 513 | 135 | 2,891 | 195 | |||
Loss on impairment of intangible assets | — | — | 1,655 | — | |||
Adjusted EBITDA | $ 11,921 | $ 4,554 | $ 23,990 | $ 8,363 | |||
Investor Relations Contact
Steve Calk
ir@alkami.com
Media Relations Contacts
Marla Pieton
marla.pieton@alkami.com
Valerie Kerner
alkami@fullyvested.com
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SOURCE Alkami Technology, Inc.
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