Alkami Technology, Inc. Stock Price, News & Analysis

Kemba Credit Union has partnered with Alkami Technology (Nasdaq: ALKT) to launch its digital banking platform for both retail and business members. The platform provides intuitive self-service tools, personalized user experience, enhanced member engagement, and advanced fraud detection capabilities. Through Alkami's single platform experience, Kemba aims to drive growth in new deposit accounts, enhance cross-sell opportunities, and strengthen loyalty. The platform's extensibility solutions, including SDK and APIs, will allow Kemba to customize their digital banking platform and connect with fintech ecosystem functionality.

Alkami Technology (Nasdaq: ALKT) announced the pricing of a secondary offering of 7,500,000 shares of common stock by selling stockholders including General Atlantic, S3 Ventures Fund III, George B. Kaiser, and Brian R. Smith. The underwriter, J.P. Morgan Securities , has a 30-day option to purchase an additional 1,125,000 shares. The offering is expected to close on November 8, 2024. Alkami will not receive any proceeds from this offering as all proceeds will go to the selling stockholders. The offering is being made through an effective shelf registration statement filed with the SEC.

Alkami Technology (Nasdaq: ALKT) announced a secondary offering of 7,500,000 shares of common stock by selling stockholders including entities affiliated with General Atlantic, S3 Ventures Fund III, George B. Kaiser, and Brian R. Smith. The selling stockholders may grant underwriters a 30-day option to purchase up to 1,125,000 additional shares. J.P. Morgan Securities is acting as the sole underwriter. Alkami will not receive any proceeds from the offering as all net proceeds will go to the selling stockholders. The offering is being made through an effective shelf registration statement filed with the SEC.

Alkami Technology (Nasdaq: ALKT) has achieved the top position in credit union market share among digital banking providers, according to FI Navigator data. The company's success is evidenced by superior performance metrics of their credit union clients, who showed stronger deposit, loan, and revenue growth from January 2020 to June 2024 compared to peers. Additionally, Alkami's Mobile Platform recently received J.D. Power certification for 'An Outstanding Mobile Banking Platform Experience,' outperforming industry benchmarks across 146 best practices in mobile app development, design, and operational performance.

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.