Group 1 - Alkami Technology, Inc. is a leading provider of cloud-based digital banking solutions for financial institutions in the U.S. [2] - The company will present at the William Blair 44th Annual Growth Stock Conference on June 4, 2024, with CEO Alex Shootman and CFO Bryan Hill participating [1] - A webcast and replay of the conference will be available on the company's investor relations website [1] Group 2 - Alkami enables clients to grow confidently, adapt quickly, and build thriving digital communities through its services [2] - The company's offerings include retail and commercial banking, digital account opening, and data and marketing solutions [2]

Core Viewpoint - Alkami Technology (NASDAQ:ALKT) is recommended as a buy due to its large market potential and opportunities for upselling products in the digital banking sector, which is seen as a necessary evolution for financial institutions [2][11]. Business Overview - ALKT provides white-label banking solutions to US-based credit unions and small to mid-size regional banks, operating on a 100% cloud-based platform that integrates with third-party fintech services [3]. - In 1Q24, ALKT reported revenue of $76.1 million, a 26.9% increase year-over-year, surpassing the consensus estimate of $75.6 million, driven primarily by a 27% growth in subscription revenue [3]. - The number of live users grew from 17.5 million in 4Q23 to 18.1 million in 1Q24, reflecting a ~19.8% annual growth [3]. - Gross margins improved by 360 basis points to 61.7%, and EBIT improved from -$4 million in 1Q23 to $3 million in 1Q24, with margins at approximately 4% [3]. Market Potential and Upsell Opportunities - ALKT targets financial institutions with assets ranging from $500 million to nearly $50 billion, representing over 250 million potential users [5]. - A survey indicated that 81% of users access banking services online daily, highlighting the increasing demand for ALKT's solutions [5]. - ALKT offers 32 products with a blended Average Revenue Per User (ARPU) of $58, but there is potential to more than double this ARPU as the average product per client is only 13 [5]. - Management noted an increase in the average number of products sold per order, from 10 in 2018 to 18 in FY23, indicating a growing acceptance of ALKT's offerings [5]. Margin Expansion - ALKT is experiencing gross margin expansion, with management expecting an increase of over 200 basis points in FY24 due to improved operations and lower hosting costs [8]. - New businesses are being acquired at a gross margin of 67%, while renewal businesses are at 70%, indicating strong potential for further margin improvement [8]. Valuation - Based on a forward revenue approach, ALKT is valued at approximately $36, with a projected growth rate of 27% over the next two years [9]. - The valuation has improved from -4.5x to 7.3x since June 2023, and it is expected to continue trending upwards as revenue grows and EBIT margins improve [9].

Core Insights - Millennials are 56% more likely to grow their relationship with their primary financial institution over the next twelve months compared to Gen Xers and baby boomers [1][3] - The study highlights significant financial trends among millennials, including their response to the rising interest rate environment and their financial provider preferences [2][3] Financial Trends and Preferences - 73% of millennials report that the rising interest rate environment has significantly impacted their standard of living, a higher percentage than Gen Xers and baby boomers [2] - 65% of millennials feel they are living paycheck to paycheck [2] - Over 25% of millennials believe that buying a home hinders wealth accumulation rather than building it [2] Opportunities for Financial Institutions - 30% of millennials plan to increase the number of financial providers they engage with over the next twelve months, which is 2.5 times more than Gen Xers (14%) and baby boomers (8%) [3] - Millennials hold 14% and 28% more products with their personal financial institution compared to Gen Xers and baby boomers, respectively [3] - The study indicates that millennials are significantly more likely to switch financial providers for a better digital banking experience [4] Strategic Recommendations - Financial institutions should prioritize enhancing their digital sales and service platforms to attract and retain millennial customers [4] - There is a strong demand among millennials for personalized digital banking experiences, which financial institutions must address to remain competitive [4][5] Research Methodology - The study was conducted in partnership with The Center for Generational Kinetics, involving 1,500 participants weighted to the 2020 US Census for demographic accuracy [4]

Recognizing visionary financial institutions shaping the future of banking throughprogressive digital strategies PLANO, Texas, May 9, 2024 /PRNewswire/ -- Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., announced as a part of its 2024 Co:lab programming, the four honorees of the company's annual FIsionaries™ Awards that highlight innovative initiatives through Alkami's FIsionaries™ podcast. Sponsored by Alkam ...

The company proudly honors TechFin developers recognized for their innovation in digital banking PLANO, Texas, May 8, 2024 /PRNewswire/ -- Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., announced the success of its first external TechFin Hackathon, held as part of the Alkami Co:lab 2024 programming. Combining Alkami bank and credit union clients, fintech partners, and system integrators, the event provided a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number 001-40321 ALKAMI TECHNOLOGY, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 45-3060776 ...

Alkami Technology, Inc. (NASDAQ:ALKT) Q1 2024 Earnings Conference Call May 1, 2024 5:00 PM ET Company Participants Steve Calk - VP, IR Alex Shootman - CEO & Director Bryan Hill - CFO & Treasurer Conference Call Participants Patrick Walravens - Citizens JMP Securities Mayank Tandon - Needham & Company Jacob Stephan - Lake Street Capital Markets Elyse Kanner - JPMorgan Securities Jeff Van Rhee - Craig-Hallum Operator Good afternoon, ladies and gentlemen, and welcome to the Alkami Technology First Quarter 202 ...

Exhibit 99.1 Alkami Announces First Quarter 2024 Financial Results PLANO, Texas, May 1, 2024 (GLOBE NEWSWIRE) -- Alkami Technology, Inc. (Nasdaq: ALKT) (“Alkami”), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., today announced results for its first quarter ending March 31, 2024. First Quarter 2024 Financial Highlights • GAAP total revenue of $76.1 million, an increase of 26.9% compared to the year-ago quarter; • GAAP gross margin of 57.8%, compared to 53.6% ...

Digital channel spending as a percentage of total IT spend up 3%; Chatbot deployment increased by 15% PLANO, Texas, April 24, 2024 /PRNewswire/ -- Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., announced today the release of its latest research in partnership with Cornerstone Advisors' Ron Shevlin, chief research officer. The Digital Banking Performance Metrics report is compiled from self-reported data coll ...

PLANO, Texas, April 19, 2024 (GLOBE NEWSWIRE) -- Alkami Technology, Inc. (NASDAQ:ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., today announced that it plans to report financial results for its first quarter ended March 31, 2024 on Wednesday, May 1, 2024, after the market close. Alkami will host a conference call at 5:00 p.m. ET the same day to discuss its financial results with investors. A live webcast of the event will be available on th ...