Nov 12, 2025 10:00 AM Eastern Standard Time MANTL Launches Application Comments to Accelerate Application Reviews and Strengthen Compliance Share New real-time collaboration feature gives bank and credit union teams a single, auditable source of truth, improving visibility, decision-making, and regulatory readiness PLANO, Texas--(BUSINESS WIRE)--MANTL, an Alkami solution team and leading provider of loan and deposit account opening technology, today announced the launch of Application Comments, a powerful n ...

New York, New York--(Newsfile Corp. - November 10, 2025) - Levi & Korsinsky notifies investors that it has commenced an investigation of Alkami Technology, Inc. ("Alkami Technology, Inc.") (NASDAQ: ALKT) concerning possible violations of federal securities laws.Alkami issued a press release on October 30, 2025, reporting its financial results for the third quarter of 2025. Among other items, Alkami reported GAAP earnings per share of -$0.14, missing consensus estimates by $0.02, and revenue of $113 million ...

Core Insights - Alkami Technology, Inc. has announced that Jeanne D'Arc Credit Union is integrating MANTL's Onboarding & Account Opening Solution to enhance member engagement and streamline the banking experience [1][2] - This integration is part of Jeanne D'Arc's digital transformation strategy, aiming to create a unified, data-driven experience for both retail members and business clients [1][2] Company Developments - The addition of MANTL will allow Jeanne D'Arc to combine account opening, digital banking, and marketing insights into a single platform, providing a holistic view of each member [2] - The first phase of the onboarding strategy will focus on simplifying in-branch account opening and introducing online business account opening, allowing new accounts to be opened online in under ten minutes [2][3] Operational Efficiency - The integration is expected to increase efficiency and accelerate the onboarding process, enabling faster growth of deposits without adding operational strain [3] - By automating routine tasks, staff can dedicate more time to relationship-building and advisory services, enhancing overall member experience [3] Future Plans - In the second phase, Jeanne D'Arc will modernize its retail onboarding and account opening processes across all banking channels, ensuring a seamless experience for members both online and in-branch [4] - The strategic use of the Alkami Platform positions Jeanne D'Arc among financial institutions that are leveraging technology to unify digital experiences and drive measurable growth [4] Industry Context - Alkami Technology provides a digital sales and service platform that integrates onboarding, digital banking, and data and marketing solutions, helping financial institutions enhance member engagement and growth [5] - The concept of Anticipatory Banking is emphasized, where data-informed strategies are used to meet member needs proactively [5]

Core Insights - The information technology sector has several oversold stocks, presenting potential buying opportunities for undervalued companies [1][2] Group 1: Oversold Stocks - Forward Industries Inc (NASDAQ:FORD) has an RSI of 28.4, with a stock price decline of approximately 58% over the past month, reaching a 52-week low of $3.32 [7] - Alkami Technology Inc (NASDAQ:ALKT) has an RSI of 21.7, with a stock price drop of around 21% in the last month and a 52-week low of $18.84 [7] - Alarm.com Holdings Inc (NASDAQ:ALRM) has an RSI of 28.7, with a stock price decrease of about 9% over the past month, hitting a 52-week low of $47.54 [7]

Core Insights - The information technology sector has several oversold stocks, presenting potential buying opportunities for undervalued companies [1][2] Group 1: Oversold Stocks - Forward Industries Inc (NASDAQ:FORD) has an RSI of 28.4, with a stock price decline of approximately 58% over the past month, reaching a 52-week low of $3.32 [7] - Alkami Technology Inc (NASDAQ:ALKT) has an RSI of 21.7, with a stock price drop of around 21% in the last month, hitting a 52-week low of $18.84 [7] - Alarm.com Holdings Inc (NASDAQ:ALRM) has an RSI of 28.7, with a stock price decrease of about 9% over the past month, reaching a 52-week low of $47.54 [7] Group 2: Recent Company Announcements - Forward Industries announced a $1 billion share repurchase program alongside a resale prospectus supplement [7] - Alkami Technology reported worse-than-expected third-quarter sales and lowered its FY25 guidance, despite highlighting strong financial performance and new client acquisitions [7] - Alarm.com Holdings is set to report its third-quarter financial results on November 6 [7] Group 3: Stock Performance - Forward Industries' shares rose by 2.4% to close at $10.69 [7] - Alkami Technology's shares fell by 2.2% to close at $19.09 [7] - Alarm.com's shares decreased by 1.7% to close at $47.69 [7]

Core Insights - JPMorgan has updated its analyst-curated focus list, highlighting Alphabet Inc and Alkami Technology Inc as standout companies [1] Company Summaries - **Alphabet Inc (NASDAQ: GOOGL)**: Recognized for its strong market position and growth potential, making it a key focus for investors [1] - **Alkami Technology Inc (NASDAQ: ALKT)**: Identified as a notable company with promising prospects in the technology sector, particularly in financial services [1]

Revenue Growth - Total revenues for the three months ended September 30, 2025, were $113.0 million, a 31.5% increase from $85.9 million in the same period of 2024 [101]. - For the nine months ended September 30, 2025, total revenues reached $322.8 million, representing a 32.2% increase compared to $244.2 million in 2024 [101]. - SaaS subscription revenues accounted for 95.5% of total revenues for the three months ended September 30, 2025, compared to 94.9% in the same period of 2024 [101]. - SaaS subscription services revenue for the three months ended September 30, 2025, was $107.867 million, compared to $82.054 million in 2024, an increase of 31.4% [112]. - Annual Recurring Revenue (ARR) reached $449.034 million, up $106.933 million, or 31.3%, from $342.101 million in 2024 [132]. - Revenue per Registered User (RPU) increased to $20.83, up $3.29, or 18.8%, from $17.54 in 2024 [132]. - The revenue contribution from the MANTL acquisition was $11.0 million for the three months ended September 30, 2025 [133]. Financial Performance - The company incurred net losses of $14.8 million and $36.2 million for the three and nine months ended September 30, 2025, respectively [101]. - Gross margin for the three months ended September 30, 2025, was 56.8%, compared to 58.9% for the same period in 2024 [115]. - Net loss for the three months ended September 30, 2025, was $14.804 million, compared to a net loss of $9.442 million in 2024 [125]. - Total operating expenses for the three months ended September 30, 2025, increased by $15.978 million, or 26.2%, to $77.023 million [138]. - Non-operating expenses increased by $6.8 million for the nine months ended September 30, 2025, primarily due to higher net interest expenses [149]. Client and Market Expansion - As of September 30, 2025, the company served 291 financial institutions (FIs) through its platform, with over 1,000 clients when including those using products from acquisitions [105]. - The company implemented 32 new clients onto its platform, representing 0.9 million digital users, contributing to revenue growth [134]. - Registered users grew to 21,552, an increase of 2,053 users, or 10.5%, compared to 19,499 in 2024 [132]. Expenses and Investments - Research and development expenses were 26.6% and 27.0% of revenues for the three and nine months ended September 30, 2025, respectively [108]. - Sales and marketing expenses for the three months ended September 30, 2025, were $19.337 million, up from $14.406 million in 2024, representing a growth of 34.1% [125]. - Research and development expenses rose by $5.958 million, or 24.7%, for the three months ended September 30, 2025, primarily due to personnel-related costs [139]. - Sales and marketing expenses increased by $4.931 million, or 34.2%, for the three months ended September 30, 2025, driven by personnel-related costs [141]. - The company expects to continue increasing investments in implementation, client support teams, and technology infrastructure to support growth [115]. Cash Flow and Financing - The company had $90.9 million in cash and cash equivalents as of September 30, 2025, with an accumulated deficit of $512.4 million [153]. - Net cash provided by operating activities was $26.3 million for the nine months ended September 30, 2025, compared to $12.5 million for the same period in 2024 [157][160]. - Net cash used in investing activities was $393.5 million for the nine months ended September 30, 2025, primarily due to the acquisition of MANTL [161]. - Net cash provided by financing activities was $330.1 million for the nine months ended September 30, 2025, mainly from the issuance of the 2030 Convertible Notes [163]. Acquisitions and Related Costs - The company completed the acquisition of MANTL for approximately $375 million on March 17, 2025, enhancing its onboarding and account opening solutions [102]. - Acquisition-related expenses for the nine months ended September 30, 2025, were $3.1 million, primarily due to costs associated with the acquisition of MANTL [145]. - Amortization of acquired intangibles increased to $4.0 million for the nine months ended September 30, 2025, compared to $1.1 million for the same period in 2024 [146][147]. - The company recorded a loss on impairment of intangible assets of $1.7 million for the nine months ended September 30, 2025, related to the acquisition of MANTL [148]. - The company recognized a net deferred tax liability of $12.6 million due to the acquisition of MANTL, which also led to a provisional deferred tax benefit of $12.0 million [152].

Financial Performance - Alkami Technology reported quarterly earnings of $0.13 per share, missing the Zacks Consensus Estimate of $0.15 per share, but showing an increase from $0.09 per share a year ago, resulting in an earnings surprise of -13.33% [1] - The company posted revenues of $112.95 million for the quarter ended September 2025, which was below the Zacks Consensus Estimate by 0.87%, compared to $85.91 million in the same quarter last year [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.17 on revenues of $120.39 million, and for the current fiscal year, it is $0.58 on revenues of $444.24 million [7] - The estimate revisions trend for Alkami was favorable ahead of the earnings release, resulting in a Zacks Rank 1 (Strong Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Internet - Software industry, to which Alkami belongs, is currently in the top 30% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Financial Data and Key Metrics Changes - Alkami achieved total revenue of $113 million in Q3 2025, representing year-over-year growth of 31.5% and organic growth exceeding 20% [13] - Adjusted EBITDA increased to $16 million, compared to $8.3 million in the year-ago quarter, highlighting the operating leverage of the financial model [13][19] - Subscription revenue grew 31.5% in Q3 2025, accounting for 96% of total revenue [13] - Annual Recurring Revenue (ARR) increased over 31% to $449 million, with approximately $67 million of ARR and backlog for implementation [13][14] Business Line Data and Key Metrics Changes - The digital banking platform added 10 new clients, including a significant new logo transaction, and now serves five of the top 20 credit unions in the U.S. [6][15] - The Mantle business added 29 new clients, with 15 being new to Alkami, indicating strong cross-sale efforts [6][15] - Year-to-date, the company signed 23 new logos with the digital banking platform and 39 new relationships with the onboarding platform [7][8] Market Data and Key Metrics Changes - Alkami serves 413 financial institutions, with 124 being banks and 289 credit unions [10] - The company has identified over 900 credit unions and nearly 1,000 banks in the top 2,500 financial institutions that are not on a modern platform [6][54] - The market reaction to the combination of Alkami and Mantle has been positive, with 80% of bank and credit union leaders indicating a favorable impact [8] Company Strategy and Development Direction - Alkami is focused on integrating its digital banking, onboarding, and data marketing technologies to enhance customer experience and drive growth [10][75] - The company aims to leverage its strong sales pipeline and cross-selling opportunities to expand its market presence [15][70] - The Mantle acquisition is seen as a game changer, providing a competitive edge by combining multiple platforms [35][75] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth opportunities ahead, citing a resilient market and the potential for significant client acquisition [6][19] - The company anticipates a step-up in organic revenue growth in Q4 2025, driven by a higher number of user implementations [25][50] - Management noted that the demand for modern digital banking solutions remains consistent despite market disruptions [34] Other Important Information - Alkami appointed Cassandra Hudson as the new Chief Financial Officer, succeeding Bryan Hill, who will remain in a consulting role [4][5] - The company reported a non-GAAP gross margin of 63.7% for Q3 2025, reflecting nearly 100 basis points of expansion year-over-year [16] Q&A Session Summary Question: Can you elaborate on the organic growth for Q4 and the impact of Mantle? - Management highlighted that the timing of implementations affects quarterly growth, with Q4 expected to see a significant increase in user implementations compared to Q3 [24][25] Question: How is the competitive environment evolving? - Management noted a shift in the community bank market towards adopting best-of-breed solutions rather than relying solely on core providers [32][33] Question: What is the interest in AI and its applications in digital banking? - There is significant interest among financial institutions in using generative AI and agentic technology, with many exploring use cases [38][39] Question: Can you discuss the record number of implementations this quarter? - The services team has improved their implementation methodology, allowing for faster and more efficient client onboarding [60][61] Question: What factors contributed to the increase in backlog this quarter? - The backlog increased due to a rise in digital users and strong sales from the Mantle acquisition, with a significant number of clients under contract [63][64]

Alkami Technology Third Quarter 2025 Alkami Technology, Inc. Proprietary Information. Cautionary Statement Regarding Forward-Looking Statements This presentation 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 man ...