Alkami Technology, Inc. Stock Price, News & Analysis

Alkami Technology (Nasdaq: ALKT) was named to CNBC's 2024 World's Top 250 Fintech Companies List, specifically under the Banking Solutions category. The selection, based on a detailed analysis by Statista of over 20,000 data points from more than 2,000 eligible firms, recognizes Alkami among 25 companies driving innovation in banking processes such as Banking-as-a-Service (BaaS) and Open Banking.

CEO Alex Shootman emphasized the honor and Alkami's commitment to enabling regional and community financial institutions to compete with megabanks. Additionally, Alkami was certified by J.D. Power for providing an 'Outstanding Mobile Banking Platform Experience,' reflecting high performance in the J.D. Power North America Mobile App Satisfaction Index.

Alkami Technology, Inc. (Nasdaq: ALKT) has released commissioned research findings on the perspectives of artificial intelligence (AI) in banking. The study reveals a significant gap between regional and community financial institutions (RCFIs) and consumers regarding AI's potential and adoption. Key findings include:

- 96% of financial institutions see AI as critical in the next five years, compared to only 61% of consumers.
- 78% of institutions view AI as a catalyst for new business opportunities.
- Millennials are most comfortable with AI using their data for better digital banking experiences.
- Younger generations prioritize AI for financial wellness, while RCFIs focus less on this application.

The study also found that most financial institutions are in the early stages of AI implementation, but those experimenting with AI report high success rates in areas such as customer service, data insights, and security.

Alkami Technology, Inc. (Nasdaq: ALKT) has integrated credential stuffing protection into its digital banking platform's challenge-response authentication process. This enhancement automatically checks for human behavior in the background without requiring visual puzzles or additional time, ensuring a seamless experience for legitimate users while improving security.

The integration is part of Alkami's layered approach to fraud detection and prevention in online banking, addressing the rising threat of credential stuffing in the financial services market. The solution is compliant with Web Content Accessibility Guidelines (WCAG) 2.1 Level AA, ensuring accessibility for all users, including those with disabilities.

Customers like Quontic Bank and Mountain America Credit Union have reported reduced potential fraudulent activities and improved security for their account holders without added complexity.

Alkami Technology (Nasdaq: ALKT) has announced the pricing of a secondary offering of 5,000,000 shares of common stock by selling stockholders. The offering is expected to close on August 12, 2024. J.P. Morgan Securities is acting as the underwriter and sole book-running manager. The underwriter has a 30-day option to purchase up to an additional 750,000 shares. Alkami will not sell any shares or receive any proceeds from the offering. The offering is being made pursuant to an automatically effective shelf registration statement on Form S-3, which became effective on August 8, 2024.

Alkami Technology (Nasdaq: ALKT) has announced a secondary offering of 5,000,000 shares of common stock by its Selling Stockholders. The offering includes an option for the underwriter to purchase an additional 750,000 shares. J.P. Morgan Securities is acting as the sole underwriter and book-running manager. Importantly, Alkami will not sell any shares or receive any proceeds from this offering. The offering is being made through an automatically effective shelf registration statement on Form S-3, filed with the SEC. A prospectus supplement and accompanying prospectus will be available on the SEC's website.

Texans Credit Union has launched Atomic Financial's direct deposit switching solution in partnership with Alkami Technology (Nasdaq: ALKT). This integration combines Atomic's technology with Alkami's Digital Banking Platform, allowing Texans' members to manage and switch their direct deposits efficiently through their payroll providers without HR involvement. The new feature aims to increase deposit growth, improve account acquisition, and strengthen member relationships.

The partnership has already shown significant improvements in direct deposit conversion rates while eliminating paper processes and reducing wait times. Texans Credit Union has been working with Alkami since 2022 to develop customized digital banking enhancements, including a user-friendly online loan application interface. These advancements offer increased functionality, customization, and control over account features for a modern digital banking experience.

Alkami Technology (Nasdaq: ALKT) reported strong Q2 2024 financial results, with total revenue reaching $82.2 million, up 24.9% year-over-year. The company's GAAP gross margin improved to 59.4% from 53.9% in the previous year, while non-GAAP gross margin rose to 63.2%. Despite a GAAP net loss of $(12.3) million, Alkami achieved a positive Adjusted EBITDA of $4.6 million, compared to a loss in the year-ago quarter.

The company added 2.7 million live registered users, bringing the total to 18.6 million. Alkami signed eight new digital banking clients in Q2, including a tier one credit union and a large Midwestern bank. The company's subscription revenue grew by 28%, outpacing overall revenue growth.

Alkami Technology, Inc. (Nasdaq: ALKT), a leading cloud-based digital banking solutions provider for U.S. financial institutions, has announced its plan to report second quarter 2024 financial results on Wednesday, July 31, 2024, after the market close. The company will host a conference call at 5:00 p.m. ET on the same day to discuss the results with investors.

A live webcast of the event will be available on the 'News & Events' page of Alkami's investor relations website. Additionally, a live dial-in will be accessible domestically at 1-800-836-8184 and internationally at 1-646-357-8785, using conference code 83045. A webcast replay will be made available on the Alkami investor relations website following the call.

Alkami Technology (Nasdaq: ALKT), a leading cloud-based digital banking solutions provider, has become the first digital banking provider certified by J.D. Power for "An Outstanding Mobile Banking Platform Experience." This certification places Alkami in the top quintile of all companies assessed by the J.D. Power mobile experience benchmark, covering both user satisfaction and sustainable UX practices. The assessment includes metrics such as visual appeal, speed, range of services, ease of navigation, and clarity. Recent research commissioned by Alkami highlights the digital banking experience as the top priority for consumers selecting financial providers. Alkami CEO, Alex Shootman, emphasizes the importance of this certification in offering confidence to financial institutions regarding mobile user experience excellence.