Alkami Technology, Inc. Stock Price, News & Analysis

Alkami Technology (ALKT) reported strong Q3 2024 results with total revenue of $85.9 million, up 26.9% year-over-year. The company improved its GAAP gross margin to 58.9% from 54.0%, while non-GAAP gross margin reached 62.8%. GAAP net loss narrowed to $(9.4) million from $(15.5) million, and Adjusted EBITDA increased to $8.3 million from $0.8 million.

The company added nine new digital banking clients and renewed 14 existing clients. Live registered users grew by 2.6 million to 19.5 million compared to the prior year. Alkami was recognized as the top digital banking provider in credit union market share by FI Navigator.

Alkami Technology (Nasdaq: ALKT) hosted a webinar focusing on emerging fraud threats in check and real-time payments. The session highlighted that 65% of organizations report check fraud, while real-time payments are projected to grow 33% annually to $277 billion by 2032. Industry experts from Alkami, Alacriti, and ABNB Federal Credit Union discussed strategies for strengthening security frameworks through proactive fraud mitigation and layered defense approaches. The webinar emphasized the importance of compliance management systems and third-party risk management in maintaining security and regulatory compliance, particularly as 82% of U.S. consumers use platforms like Zelle, Venmo, and Cash App.

Alkami Technology, Inc. (Nasdaq: ALKT) has been named the 2024 winner of the 'Best Banking App' category in Tearsheet's The Big Bank Theory Awards. This recognition highlights Alkami's superior Mobile Banking Platform and industry-leading user experience powered by data. The award comes at a time when high-quality mobile application experiences are important in the financial services industry.

Key features of Alkami's platform include:

• Advanced telemetry data for real-time user experience insights
• Cross-platform development framework for consistent experiences across iOS and Android
• Mobile-first features like Snapshot, Remote Deposit Capture, P2P payments, and Bill Pay

Alkami was also recently categorized as a 2024 IDC FinTech Rankings Top 100 solution provider and has been certified by J.D. Power for providing 'An Outstanding Mobile Banking Platform Experience.'

Alkami Technology, Inc. (Nasdaq: ALKT), a leading cloud-based digital banking solutions provider for U.S. financial institutions, has announced plans to report its third quarter 2024 financial results on Wednesday, October 30, 2024, after the market close. The company will host a conference call at 5:00 p.m. ET the same day to discuss the results with investors.

A live webcast of the event will be available on the Alkami investor relations website at investors.alkami.com. Additionally, a live dial-in will be accessible domestically at 1-800-836-8184 and internationally at 1-646-357-8785, using conference code 68447. The webcast replay will also be available on the Alkami investor relations website for those unable to attend the live event.

Nutmeg State Financial Credit Union has launched Alkami's Digital Banking Platform to enhance its online and mobile banking services. The platform offers a wide range of features including account aggregation, financial wellness education, and advanced account management tools. This launch reaffirms the credit union's commitment to exceptional member service.

The Alkami Platform provides intuitive self-service tools and is powered by a dataset comparable to large megabanks. It offers features such as instant loan payments, account monitoring, and enhanced data analytics. The platform also integrates with other fintech companies, allowing Nutmeg State Financial Credit Union to collaborate with leading providers in the market.

Greg Angelillo, chief experience officer at Nutmeg State Financial Credit Union, emphasized that this new mobile banking platform represents a significant step in their digital-first commitment to members. Jeff Chen, chief of staff, Product at Alkami, highlighted the importance of digital banking solutions as differentiators for financial institutions.

Alkami Technology, Inc. (Nasdaq: ALKT) has launched 'The 2025 Digital Banking Playbook: Budgeting & Strategies for Banks and Credit Unions'. This comprehensive guide offers insights and strategies to help financial institutions navigate the future of banking. The playbook addresses critical areas such as personalization, data utilization, security practices, and artificial intelligence in banking.

The playbook outlines three key plays for financial institutions to achieve sustainable growth and transformation:

• 24/7 Access to Accounts & Money
• Guarding the Financial Institution & Account Holders
• Leverage Data Insights for Diversification

Stephen Bohanon, Alkami's founder and chief strategy officer, emphasizes the importance of excelling at the basics of digital banking sales and service methodology for top-performing institutions.

Alkami Technology, Inc. (Nasdaq: ALKT) has partnered with Intrepid Credit Union to launch Alkami's Digital Banking Platform, offering members an enhanced digital banking experience. The upgrade provides new tools and features to empower members on their financial journey and deliver a best-in-class user experience.

The platform includes intuitive self-service tools and a personalized user experience, allowing Intrepid Credit Union to foster greater engagement and growth. It integrates important digital banking services across online account opening, payments, and financial wellness, enhancing cross-sell opportunities and improving member satisfaction.

Alkami's diverse partner ecosystem enables Intrepid Credit Union to tailor their digital banking experience and remain at the forefront of fintech innovation. The new platform represents Intrepid Credit Union's commitment to providing cutting-edge, user-friendly banking solutions for their members' success.

Alkami Technology (Nasdaq: ALKT) has been awarded the Banking Partner of Excellence™ Award at the 9th Annual Best Banks in America™ Super Conference. This recognition comes from nominations by elite performing banks and voting by industry-expert judges, highlighting Alkami's exceptional service and innovation in the digital banking sector.

The award follows Alkami's recent achievements, including:

• Listing in the 2024 IDC FinTech Rankings Top 100 Solution Provider list
• J.D. Power certification for providing "An Outstanding Mobile Banking Platform Experience"

Alkami's mobile banking platform outperformed industry benchmarks across 146 best practices in app development, design, and functionality. This recognition underscores Alkami's commitment to excellence in cloud-based digital banking solutions for U.S. financial institutions.

Alkami Technology (Nasdaq: ALKT) has been named to the 2024 IDC FinTech Rankings Top 100 list of solution providers. This prestigious ranking recognizes the leading global enterprises serving the financial services and FinTech industries. IDC Financial Insights compiles this Fortune 500-style list based on calendar year revenues from financial institutions for hardware, software, and services.

The IDC FinTech Rankings highlight companies that provide important technological innovation to keep financial services at the forefront of modern digital experiences. IDC forecasts worldwide IT spending in the financial services industry to exceed $800 billion by 2026. Alkami's inclusion in this list underscores its commitment to helping financial institutions execute digital transformation initiatives and enhance customer experiences.